IFRScommunity.com

It is an upstream transfer and effectively, Holdco will need to recognise the dividend through P&L.

Thanks! I realised it when I posted it that Holco should go for P&L which I agree with.

Thanks. I do have the following journals in Holdco's separate records: Dr Investment in subsidiary XX Cr Contribution (Equity) XXXXX To recognise the aquisition of Company B Company A: Dr Distribution (Equity) XXXX Cr Investment in subsidiary XXXX Will the distribution reserve be disclosed separatel...

Hi All. We are busy with a restructuring within the group and need some assistance. Holdco owns 100% of Company A and Company A owns 100% of Company B. Management wants to change the shareholding, where Holdco will directly own 100% of Company A and 100% of Company B. Questions: Is this restructurin...

I need to get the facts on this, but if the assessment changed, this is only an application of the standard and not a change in accounting policy? If previously recognised in profit and loss this would be a change in accounting policy and you need to restate?

Hi Foreign exchange gains and losses are generally recognised in profit or loss. Exceptions relate to monetary items that in substance form part of the reporting entity's net investment in a foreign operation. A monetary item receivable from or payable to a foreign operation may form part of the net...