Search found 8 matches

by Audit Shj
15 May 2023, 12:30
Forum: IFRS-related topics
Topic: IFRS-1
Replies: 1
Views: 380

IFRS-1

Hi All
Our company was following full IFRS until 31.12.2017, converged to IFRS for SME until 31.12.2021, During the year 2022, management decided to adopt full IFRS, will this be considered "First-time Adoption of International Financial Reporting" under IFRS 1 with full reconciliation?
by Audit Shj
12 Feb 2023, 08:39
Forum: IFRS-related topics
Topic: Cost of sales
Replies: 4
Views: 791

Re: Cost of sales

Thanks :)
by Audit Shj
10 Feb 2023, 04:07
Forum: IFRS-related topics
Topic: Cost of sales
Replies: 4
Views: 791

Re: Cost of sales

Hi
My doubt is regarding the presentation.. is this cost to be cost of sales or to be shown as a separate line item below gross profit?
by Audit Shj
09 Feb 2023, 14:58
Forum: IFRS-related topics
Topic: Cost of sales
Replies: 4
Views: 791

Cost of sales

Hi Friends I have a doubt related to the presentation of Idle Cost of production, to be under "cost of sales" or as a separate line item below gross profit? "Para 38 of IAS2 clarifies that the abnormal production cost to inventories to be part of cost of sales", what is the corre...
by Audit Shj
12 Jan 2023, 05:21
Forum: IFRS-related topics
Topic: IFRS 16 OR IAS 16???
Replies: 6
Views: 9026

Re: IFRS 16 OR IAS 16???

Accounted under lease
by Audit Shj
09 Jan 2023, 08:40
Forum: IFRS-related topics
Topic: IFRS 16 OR IAS 16???
Replies: 6
Views: 9026

Re: IFRS 16 OR IAS 16???

Seriously it was a real scenario :D
by Audit Shj
09 Jan 2023, 08:38
Forum: IFRS-related topics
Topic: Partial adoption of IFRS
Replies: 1
Views: 999

Partial adoption of IFRS

Dear Friends
Our company follows IFRS for SME, the management would like to adopt IFRS 16. What I know partial adoption of IFRS is not possible when the Company follow IFRS for SME's. they have to converge to full IFRS to follow IFRS 16, Aam I right?
by Audit Shj
22 Aug 2021, 09:22
Forum: IFRS-related topics
Topic: IFRS 16 OR IAS 16???
Replies: 6
Views: 9026

IFRS 16 OR IAS 16???

I would like to take your opinion on a case .. A Company has signed a contract for the supply and use of an Innovative equipment. as per the contract; 1) 3 mm down-payment 2) annual EMI of 1 million from 1- 8 years (Total 10 Million under the deal) Alternatively The machine cost is 9 million and ann...