Search found 34 matches

by Giannos
13 Nov 2023, 17:15
Forum: IFRS-related topics
Topic: Sub-lease
Replies: 2
Views: 241

Re: Sub-lease

Thank you
by Giannos
11 Nov 2023, 18:42
Forum: IFRS-related topics
Topic: Sub-lease
Replies: 2
Views: 241

Sub-lease

Hello, In the cases of sub-lease, where the intermediate lessor derecognize the rights of use and recognize the investment in sublease. My question is whether the difference between the right of use and the investment in sublease must be posted to P&L immediately or whether it should be posted i...
by Giannos
23 Oct 2023, 12:40
Forum: IFRS-related topics
Topic: Deferred tax on revaluation of PPE
Replies: 3
Views: 471

Re: Deferred tax on revaluation of PPE

Thank you a lot!
by Giannos
20 Oct 2023, 13:55
Forum: IFRS-related topics
Topic: Deferred tax on revaluation of PPE
Replies: 3
Views: 471

Deferred tax on revaluation of PPE

Hello, I have a question about the deferred tax on revaluation of immovable property, which is under the category of PPE. A company bought a building for EUR 1,000,000 and at the year end this building was revalued to EUR 1,500,000. The tax rate is 10%, which means that the deferred tax on revaluati...
by Giannos
25 Jul 2023, 16:43
Forum: IFRS-related topics
Topic: Negative goodwill from SWAP contract
Replies: 2
Views: 794

Re: Negative goodwill from SWAP contract

Dear Marec, thank you for your really useful answer!! :)
by Giannos
24 Jul 2023, 16:57
Forum: IFRS-related topics
Topic: Negative goodwill from SWAP contract
Replies: 2
Views: 794

Negative goodwill from SWAP contract

Hi, I have a question about the negative goodwill on acquisition of a subsidiary in the consolidation. The company A acquired the company B at the price of US$10.000. At the date of acquisition, the fair value of the net assets of company A was US$11.000, including an interest rate SWAP contract, wh...
by Giannos
06 Jul 2023, 16:31
Forum: IFRS-related topics
Topic: Interest rate swaps
Replies: 2
Views: 3222

Interest rate swaps

A company was entered into an interest rate swap with the Bank in order to convert its floating borrowing interest rate into fixed. Before the expiration date of the swap contract, the company agreed with the bank to terminate it. At the time of termination, the fair value of the swap was in favor o...
by Giannos
01 Jun 2023, 16:52
Forum: IFRS-related topics
Topic: Control - consolidated accounts
Replies: 13
Views: 1705

Control - consolidated accounts

Hi A company A has entered into an agreement in 2022 for the purchase of the 100% of the share capital of the company B, in two instalments. It has bought and paid for 49% in 2022 and is obliged to buy the other 51% by 31/12/2024 (it has not bought it yet). The whole deal (not just the 51%) is subje...
by Giannos
22 May 2023, 10:28
Forum: IFRS-related topics
Topic: Leases in vessels industry
Replies: 4
Views: 640

Re: Leases in vessels industry

Thank you Marek!
by Giannos
21 May 2023, 19:04
Forum: IFRS-related topics
Topic: Leases in vessels industry
Replies: 4
Views: 640

Re: Leases in vessels industry

Hi Marec, For example, a company committed to lease a vessel under time charter hire agreement (not bareboat hire) for a period of 18 months at a daily hire rate of EUR 10.000. This arrangement, is obviously subject to the provisions of IFRS 16 and consequently a right of use asset should be recogni...
by Giannos
19 May 2023, 16:05
Forum: IFRS-related topics
Topic: Leases in vessels industry
Replies: 4
Views: 640

Leases in vessels industry

A company recognized a right of use to reflect its contractual obligation for the hire of a vessel under time charter for a period which exceeds 12 months. How can they reflect properly the future off-hire periods and the delays? Is there an exemption from IFRS 16 of the time charter hire agreements...
by Giannos
09 Nov 2022, 10:32
Forum: IFRS-related topics
Topic: Capitalization of mortgage fees
Replies: 7
Views: 1624

Re: Capitalization of mortgage fees

Ok, therefore it should be amortized over the useful life of the asset and not over the lifecycle of the loan. Right?
by Giannos
09 Nov 2022, 09:46
Forum: IFRS-related topics
Topic: Capitalization of mortgage fees
Replies: 7
Views: 1624

Re: Capitalization of mortgage fees

The capitalization of the mortgage fees should be done in PPE as part of the value of the factory or separately as deferred financing costs?

Thank you
by Giannos
09 Nov 2022, 08:54
Forum: IFRS-related topics
Topic: Capitalization of mortgage fees
Replies: 7
Views: 1624

Re: Capitalization of mortgage fees

Thank you for your answer. Therefore should be capitalized and amortized as part of the interest over the lifecycle of the loan?
by Giannos
08 Nov 2022, 16:08
Forum: IFRS-related topics
Topic: Capitalization of mortgage fees
Replies: 7
Views: 1624

Capitalization of mortgage fees

I have a question in relation to the treatment of loan mortgage fees. A company will apply to the bank to obtain a loan for the construction of a factory, with a guarantee the mortgage of a piece of land which belongs to the company. The company will pay a significant amount as mortgaged charges as ...
by Giannos
09 Oct 2022, 18:48
Forum: IFRS-related topics
Topic: ECL on bank current accounts
Replies: 14
Views: 35489

Re: ECL on bank current accounts

Thank you Jakob. Very useful article!
by Giannos
09 Oct 2022, 12:14
Forum: IFRS-related topics
Topic: ECL on bank current accounts
Replies: 14
Views: 35489

Re: ECL on bank current accounts

Hi This is the reason for which I placed this question in the forum! I was confused by what I was reading in the various technical articles and from the discussions with colleagues about ECL on bank balances. Some articles and colleagues argue that the ECL on bank deposits are applicable on deposits...
by Giannos
05 Oct 2022, 08:17
Forum: IFRS-related topics
Topic: ECL on bank current accounts
Replies: 14
Views: 35489

Re: ECL on bank current accounts

Thank you!
by Giannos
05 Oct 2022, 07:40
Forum: IFRS-related topics
Topic: ECL on bank current accounts
Replies: 14
Views: 35489

ECL on bank current accounts

Are the bank current accounts subject to ECL under IFRS 9 or they are exempt?
Thank you
by Giannos
15 Sep 2022, 21:07
Forum: IFRS-related topics
Topic: Provision of financing to related companies
Replies: 13
Views: 5436

Re: Provision of financing to related companies

I think that the company's external borrowing rate would be appropriate OR alternatively the interest rate for bank/external loans for similar type of loans in the country of operation of the Company. Do you agree with this?
by Giannos
15 Sep 2022, 12:39
Forum: IFRS-related topics
Topic: Provision of financing to related companies
Replies: 13
Views: 5436

Re: Provision of financing to related companies

Thank you a lot Mark. Now is very clear!!
by Giannos
15 Sep 2022, 12:30
Forum: IFRS-related topics
Topic: Provision of financing to related companies
Replies: 13
Views: 5436

Re: Provision of financing to related companies

So company A should debit the "equity component" in its equity in a separate reserve and company B should recognize a credit in its equity as "contribution from shareholder". Am I right?

Thank you
by Giannos
15 Sep 2022, 12:20
Forum: IFRS-related topics
Topic: Provision of financing to related companies
Replies: 13
Views: 5436

Re: Provision of financing to related companies

How else can you recognize it, given there is no formal direct ownership relation between the two companies?
Will you create a "dummy" investment in the books of the lender?

Thank you
by Giannos
15 Sep 2022, 11:51
Forum: IFRS-related topics
Topic: Provision of financing to related companies
Replies: 13
Views: 5436

Re: Provision of financing to related companies

The distribution between the companies should be recognized through profit and loss account. Right?
by Giannos
15 Sep 2022, 11:09
Forum: IFRS-related topics
Topic: Provision of financing to related companies
Replies: 13
Views: 5436

Re: Provision of financing to related companies

What happen if the shareholder of both of the companies is a physical person?

Thank you!
by Giannos
15 Sep 2022, 07:40
Forum: IFRS-related topics
Topic: Provision of financing to related companies
Replies: 13
Views: 5436

Provision of financing to related companies

I have a question about the provision of interest free financing between related companies, which have no equity relationship between them. It is clear by IFRS 9 that when a parent gives an interest free loan to its subsidiary or at an interest rate which is lower than the market rate, the present v...
by Giannos
16 Jul 2022, 10:14
Forum: IFRS-related topics
Topic: Transfer of building from PPE to investment property
Replies: 2
Views: 2646

Transfer of building from PPE to investment property

I have a question about the transfer of properties from PPE to Investment property. A building which was initially recognized in PPE at cost, it was revalued to its market value some years after and its revaluation gain was posted to a revaluation reserve through other comprehensive income. After th...
by Giannos
22 May 2022, 11:04
Forum: IFRS-related topics
Topic: IFRS 15 - Construction of boat
Replies: 5
Views: 1649

Re: IFRS 15 - Construction of boat

Thanks a lot!
by Giannos
21 May 2022, 09:03
Forum: IFRS-related topics
Topic: IFRS 15 - Construction of boat
Replies: 5
Views: 1649

Re: IFRS 15 - Construction of boat

Thank you Leo!