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Hi experts, please help me with IFRS problem Our office is on lease and the lease period is for 1 year. We used to account it as rent expense. But auditor informed to recognise ROU and lease liability as per IFRS 16. Even if the lease period is only is 12 months, since there is intention to continue...

If they buy gold and keep it as stock then they sell gold (no physical delievry) for the same quantity through a broker at current market price and later he closes the position by buying gold (no physical delivery). There is net settlement, no actual delievry of gold.

Marek Muc wrote: ↑02 Jun 2022, 10:59 well, the OP didn't say the client used hedge accounting

The client is not hedge accounting sir. Now they are shwoing hedge transactons as purchase and sales

I think it's a cash flow hedge. 1. At inception, nothing to do 2. Between date of the Swap contract and date of the purchase of gold, the differences goes to OCI. 3. At the purchase date, record the gold in inventory at the market price, against cash, and write off the hedge instrument from the bal...

Dear friends, I have doubt regarding commodity swap accounting. One of m client who is a whole sale gold dealer regularyl enters into commodity swap transaction to hedge against unfavourable price chnages. For eg if he be huys 100kg gold, then he will same quanity gold with a financial institution (...