Search found 6 matches
- 18 Jul 2022, 14:10
- Forum: IFRS-related topics
- Topic: Group Accounts & Long Term Investments
- Replies: 15
- Views: 6695
Re: Group Accounts & Long Term Investments
Thanks Marek, yes that does seem a more straightforward basis to use.
- 18 Jul 2022, 12:53
- Forum: IFRS-related topics
- Topic: Group Accounts & Long Term Investments
- Replies: 15
- Views: 6695
Re: Group Accounts & Long Term Investments
I have reached the following 'conceptual' reasons to substantiate the removal of FVOCI movements since acquisition. This is only my opinion, but hope it is useful. 1. Group accounts need to be prepared using the single economic entity concept. 2. Unearned revenue based on future performance expectat...
- 05 Jul 2022, 14:28
- Forum: IFRS-related topics
- Topic: Group Accounts & Long Term Investments
- Replies: 15
- Views: 6695
Re: Group Accounts & Long Term Investments
Thanks both. Yes, to clarify, the question is focussed on the group accounts. I still thought there would need to be an entry against 'Long Term Investments' to write out the consideration transferred at the acquisition date. To cancel the parent's investment in the company against the company’s pre...
- 05 Jul 2022, 10:43
- Forum: IFRS-related topics
- Topic: Group Accounts & Long Term Investments
- Replies: 15
- Views: 6695
Re: Group Accounts & Long Term Investments
Thanks for your advice, it is helpful. Yes, this is for the group accounts of the parent and FVOCI is used following the one-off election. If possible, I am hoping to formalise an accounting policy on the removal of long term investment value on consolidation with reference to particular standards o...
- 05 Jul 2022, 10:07
- Forum: IFRS-related topics
- Topic: Group Accounts & Long Term Investments
- Replies: 15
- Views: 6695
Re: Group Accounts & Long Term Investments
This is for company interests that need to be consolidated into the group because the parent has control or significant influence.
- 04 Jul 2022, 15:32
- Forum: IFRS-related topics
- Topic: Group Accounts & Long Term Investments
- Replies: 15
- Views: 6695
Group Accounts & Long Term Investments
At the acquisition date IFRS 3 and IAS 28 state that company interests should be recognised at cost, writing out the long term investment value on consolidation. Where the single entity accounts measure company interests at fair value through other comprehensive income (FVOCI), the value of long ter...