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?
Search found 8 matches
- 15 May 2023, 12:30
- Forum: IFRS-related topics
- Topic: IFRS-1
- Replies: 1
- Views: 380
- 12 Feb 2023, 08:39
- Forum: IFRS-related topics
- Topic: Cost of sales
- Replies: 4
- Views: 791
Re: Cost of sales
Thanks
- 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?
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?
- 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...
- 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
- 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
- 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?
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?
- 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...