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Thanks Marek

So to make it clear - deferred tax is not recognised for goodwill

But

We recognise deferred tax for the fair value of the net assets of the sub. When calculating goodwill, Which in turns increases goodwill (in case carrying amounts were higher than tax base)

Is that the case?

Apologies I couldn’t find deferred tax arising in goodwill

Would you copy and paste here please?

Thanks

Hi Marek

Thanks - can you explain the difference please? Or give me
More details?

Thanks

Hi all I am confused in the treatment of Deferred tax arising in business combination When adjusting net assets of subsidiary to fair value, a temporary dif. arises if the tx base is cero So goodwill will increase to recognise the DTL Hence, is this deferred tax liability recognised or not? Reading ...

Ok thanks - apologies for using the incorrect forum

Thanks

Ok thank you I was not asking about goodwill specifically - I was just asking if accounting journals (and those 3 specifically) are done at consolidation to bring the net of the subsidiary to fair value Normally when I read the standard or books it just says to “include net assets at fair value” but...

Hi all When purchasing a subsidiary the net assets are included at fair value to calculate goodwill Suppose we need to include 1- fair value of PPE 2- contingent liabilities 3- client lists Which entries are done at consolidation 1- debit ppe of Sub, credit revaluation reserve? 2- credit liabilities...

Hi all In the roles I have had I have not been able to prepare the year end accounts under IFRS as I have been most of my career Finance Business Partner I was wondering what the process is for those who have had the chance to prepare them are their companies I have always wanted to do it to be hone...

Great thanks guys

Happy new year

Hi JRSB thanks

do you have that application guidance? what does it contain? examples or something "easier" to understand that the standard themselves?

Thanks

Hi JRSB thanks

where is the application guidance ? where can I get it?

thanks
Daniel

Hi all

Has anyone purchased the annotated IFRS? if so - do they help understand more clearly the standards and how to apply them

for example, doing calculations and journal entries to correctly apply the standard?

https://shop.ifrs.org/product-detail?id=2191

Thanks
Daniel

Thanks Jakob

Thanks guys

If you have any other please let me know

Hi guys

I am looking for a good book or training course that teaches IFRS with example, etc perhaps in excel

obviously this forum is a must - but have you come across something that has been very helpful to you?

THanks
Daniel

Hi Marek

It is at cost, IFRS 9

Ok, thanks guys

Thanks Marek,

That helps, so value in use based on future expected chasflows, discounted using WACC, no?

For impairment in consolidated, p&l, but in the parent statements should not we decrease the value of the shares through OCI, if they were held as long term investment?

Hi Marek thanks
But in some sort of way doesn’t it relates to IFRS 9? I mean depending how we classify the shares it will impact whether is finance cost, allowable for tax or not

Sorry if not correct to ask here

Hello guys I have a question - if we calculate the fair value of the subsidiary and we also have our goodwill calculated at acquisition … In reality and not text books … how is the realisable value calculated to evaluate of impairment is needed ? Is this value obtained from some sort of expert that ...

Hi guys

If preferences shares are classified as liability and we charge as finance cost rather than equity

Are they tax allowable ? So the finance cost is charge to p&l reducing the tax payment or tax won’t allow this and we have to adjust? At least in UK

Thanks

Look promising Leo -

Trying to find in English - let me see if I get lucky

Thanks

Hi guys thanks

Leo, yes, I meant group reserves - sorry about that

I will try to see if there are any videos in YouTube of SAP. I just want to see how it works

Thanks

great thanks guys

Hi Leo thanks Good to know - so how is for example the parent reserves calculation in an automated way? At some points you credit or debit the reserves - for example, the share of profit from subsidiary or any provision for unrealised profit, all that is automated as any transactions are posted in t...

I think we need to manually amend when there are outages in Hyperion - how is it in Magnitude? Also how do you record the parent reserves adjustments, NCI, goodwill impairments, etc
Is that manual?

Thanks Marek
Daniel

Hi Marek

I think it was really helpful - I can contribute more as I build more knowledge as it is pretty limited at the time in the hedge recording process - but I want to review more and come to get more help when possible from DJP

Thanks Jako

That is very helpful - thanks so much

Let me review and get back to you after it - probably in a couple of days if unclear

again MANY THANKS very very helpful

Hi DJP

Excellent example, understood now

Thanks so much for all your help