Search found 22 matches
- 12 Jul 2023, 18:11
- Forum: IFRS-related topics
- Topic: IBOR Reform
- Replies: 4
- Views: 11441
Re: IBOR Reform
Any practical examples on IBOR reform phase 2?
- 12 Jul 2023, 14:05
- Forum: IFRS-related topics
- Topic: Grant from non-government institution
- Replies: 5
- Views: 3055
Re: Grant from non-government institution
Potential investor yes, just wanted to highlight that there is no shareholder relationship.
- 12 Jul 2023, 10:34
- Forum: IFRS-related topics
- Topic: Grant from non-government institution
- Replies: 5
- Views: 3055
Re: Grant from non-government institution
hi. Was not for charity. The holding company received a grant. The grant will be used by the subsidiaries for a tree improvement program. The Holding company will pay consultants etc based on the grant received. The company that provided the grant is not an investor in the holding company at this po...
- 12 Jul 2023, 10:16
- Forum: IFRS-related topics
- Topic: Grant from non-government institution
- Replies: 5
- Views: 3055
Grant from non-government institution
We received a grant from a non-government institution. My understanding is that it won't be in the scope of IAS 20 - Government grant.
What section of IFRS is applicable if I receive a grant from a non-government intuition?
What section of IFRS is applicable if I receive a grant from a non-government intuition?
- 09 Jul 2023, 12:01
- Forum: IFRS-related topics
- Topic: Loans repayable based on free cash flows
- Replies: 7
- Views: 6873
Re: Loans repayable based on free cash flows
Hi. Thanks for the reference. And the measurement of the loan at amortised cost, should I not look at the estimated cash flows to estimate the carrying amount of the loan?
- 09 Jul 2023, 09:31
- Forum: IFRS-related topics
- Topic: Loans repayable based on free cash flows
- Replies: 7
- Views: 6873
Loans repayable based on free cash flows
Does someone have guidance for a loan payable when the terms state that the loan can only be repaid from free cash flows? The loan bears interest at a market-related rate. Should I not look at the estimated cash flows and perform a fair value assessment on the loan to compare it with the carrying am...
- 10 Jul 2020, 16:06
- Forum: IFRS-related topics
- Topic: IFRS 16 sub lease
- Replies: 11
- Views: 2357
Re: IFRS 16 sub lease
Will have a look on the big 4 communications thanks
- 10 Jul 2020, 15:46
- Forum: IFRS-related topics
- Topic: IFRS 16 sub lease
- Replies: 11
- Views: 2357
Re: IFRS 16 sub lease
In South Africa. Are there any guidance or illustratives available to see whether there is a sub lease perhaps if they can provide a sub lease agreement?
- 10 Jul 2020, 13:40
- Forum: IFRS-related topics
- Topic: IFRS 16 sub lease
- Replies: 11
- Views: 2357
IFRS 16 sub lease
Hi I have the following case in a group situation and will appreciate some guidance: Company X has a contract to lease offices with the lessor which is a external party. Company X pays this rent to the external lessor. Company Y, which is a fellow subsidiary of Company X, uses the warehouses of the ...
- 17 Jun 2020, 16:11
- Forum: IFRS-related topics
- Topic: Loan to Equity
- Replies: 7
- Views: 2022
Re: Loan to Equity
Yes definitely in my case as well. The probability of the loan being repaid is minimal and will probably be repaid.
Do you have any Big 4 guidance on this topic?
Thanks
Do you have any Big 4 guidance on this topic?
Thanks
- 17 Jun 2020, 16:02
- Forum: IFRS-related topics
- Topic: Loan to Equity
- Replies: 7
- Views: 2022
Loan to Equity
Hi I have a loan payable to a shareholder which is repayable on demand, unsecured and no interest is charged. Are there any guidance to classify the loan to equity? Should new shares need to be issued for the loan reclassified to equity? Any guidance/starting point will be appreciated. Thanks!
- 19 May 2020, 12:13
- Forum: IFRS-related topics
- Topic: IFRS 16 lease contract
- Replies: 3
- Views: 1026
Re: IFRS 16 lease contract
Cool thanks. That was my understanding as well but couldn't identify any information with examples were the asset (building) was already in use but the contract was only signed subsequently.
- 19 May 2020, 11:32
- Forum: IFRS-related topics
- Topic: IFRS 16 lease contract
- Replies: 3
- Views: 1026
IFRS 16 lease contract
Hi I am busy with a set of financial statements for the year ended 31 December 2017. As part of the standards and interpretations not yet effective, I am disclosing that IFRS 16 is applicable to the company from 1 January 2019 and that the estimate right of use asset and liability would be X amount ...
- 25 Feb 2020, 11:10
- Forum: IFRS-related topics
- Topic: Common control transactions
- Replies: 24
- Views: 5135
Re: Common control transactions
Yes I struggled to find examples as the company is applying the pooling of interest (Book value method) and not acquisition accounting as the substance of the transaction did not change the shareholding of the ultimate parent entity. I will most probably only include in the accounting policies and a...
- 25 Feb 2020, 10:44
- Forum: IFRS-related topics
- Topic: Common control transactions
- Replies: 24
- Views: 5135
Re: Common control transactions
Disclosures in the consolidated financial statements of Newco.
The company elected to prepare consolidated financial statements of Newco as there are other shareholders of Newco
The company elected to prepare consolidated financial statements of Newco as there are other shareholders of Newco
- 25 Feb 2020, 09:56
- Forum: IFRS-related topics
- Topic: Common control transactions
- Replies: 24
- Views: 5135
Common control transactions
Hi Does anyone have disclosure examples where there was a common control transaction for the year? The company formed a Newco which holds all the subsidiaries previously held by Holdco. IFRS 3 will not be applied to the consolidated financial statements of Newco as Holdco is still the ultimate share...
- 03 Feb 2020, 12:58
- Forum: IFRS-related topics
- Topic: Cash generating unit
- Replies: 4
- Views: 1931
Re: Cash generating unit
Cool thanks. That does make sense as well.
- 03 Feb 2020, 07:16
- Forum: IFRS-related topics
- Topic: Cash generating unit
- Replies: 4
- Views: 1931
Re: Cash generating unit
Hi I agree, however management is only focusing on the following: IAS 36 clarifies that if an active market exists for the output from a group of assets, then that group of assets is a separate CGU - even if the output is sold only to other units of the same entity. This is because that group of ass...
- 31 Jan 2020, 13:39
- Forum: IFRS-related topics
- Topic: Cash generating unit
- Replies: 4
- Views: 1931
Cash generating unit
Hi I am busy with a CGU assessment and need some assistance: Company A: - Holds mining right. Company A will sell the minerals to third parties and Company B will invoice Company A for the work performed. - Company A does not have any other assets except for the mining right (Intangible asset). Comp...
- 08 Jan 2020, 15:31
- Forum: IFRS-related topics
- Topic: IFRS 10 Consolidation of trust
- Replies: 7
- Views: 7055
Re: IFRS 10 Consolidation of trust
Thanks
It will be a good starting point. Do you perhaps have any financial statements of listed companies where interest in trusts are disclosed?
It will be a good starting point. Do you perhaps have any financial statements of listed companies where interest in trusts are disclosed?
- 08 Jan 2020, 14:49
- Forum: IFRS-related topics
- Topic: IFRS 10 Consolidation of trust
- Replies: 7
- Views: 7055
Re: IFRS 10 Consolidation of trust
I only had a general discussion with someone and don't have all the detail of the trust deed. Based on the discussions, I could understand the following: 1. The trust has a property which its operates for rental purposes, should the trust deed permit IFRS, the property will be accounted for as an in...
- 08 Jan 2020, 14:03
- Forum: IFRS-related topics
- Topic: IFRS 10 Consolidation of trust
- Replies: 7
- Views: 7055
IFRS 10 Consolidation of trust
Hi All Does anyone have guidance on whether a trust can be consolidated as part of a group of companies? Can you apply the normal IFRS 10 control principles for a trust as well as you are a beneficiary to the trust and does not have share capital with voting rights. The trust deed will most probably...