Search found 135 matches

by marea
04 Mar 2022, 12:03
Forum: IFRS-related topics
Topic: IFRS 15 (?) - cost of free gift
Replies: 7
Views: 5136

Re: IFRS 15 (?) - cost of free gift

IMIO the bag would be recognised as part of operating expenses and not of COGS.
by marea
02 Feb 2022, 07:24
Forum: IFRS-related topics
Topic: IAS 38 Internally generated intangible Asset
Replies: 8
Views: 2224

Re: IAS 38 Internally generated intangible Asset

I woulld agree with pub_acco´s point of wiew. It is important to know who is the owner of the IP. Does the holding company owns and controll the software and it is basically sub-licensing it or will the sub own the IP and control the software.
by marea
04 Jul 2021, 13:38
Forum: IFRS-related topics
Topic: Capitalization of internally generated assets
Replies: 7
Views: 5398

Re: Capitalization of internally generated assets

Just as a side note:

"rights held by a lessee under licensing agreements for items such as films, videos, plays, manuscripts, patents and copyrights within the scope of IAS 38 Intangible Assets" are outside the scope of IFRS 16.

So IAS 38 would be applicable if criteria are met.
by marea
09 Jun 2021, 15:14
Forum: IFRS-related topics
Topic: IAS 38 Intangible Assets
Replies: 3
Views: 2023

Re: IAS 38 Intangible Assets

IAS 38.66 defines which costs can be included in the cost of an internally generated intangible asset.
by marea
10 May 2021, 20:04
Forum: IFRS-related topics
Topic: Deferred Tax related to Assets and Liabilities arising from a Single Transaction
Replies: 5
Views: 3830

Re: Deferred Tax related to Assets and Liabilities arising from a Single Transaction

The Board also included an example where the company made an advance payment and some initial direct costs incurred. If the tax law allows to deduct them when the payment occurs the difference between the tax base and the CA will give to taxable temporary differences, and since the exemption does no...
by marea
10 May 2021, 19:53
Forum: IFRS-related topics
Topic: Deferred Tax related to Assets and Liabilities arising from a Single Transaction
Replies: 5
Views: 3830

Re: Deferred Tax related to Assets and Liabilities arising from a Single Transaction

This is my understanding from the IASB Document; If, on initial recognition, we have a RoU asset and an equal lease liability to which the same tax rate is applied, we would have temporary differences that are equal and offsetting and therefore, the exemption would not be needed. However, let´s assu...
by marea
10 May 2021, 18:23
Forum: IFRS-related topics
Topic: Deferred Tax related to Assets and Liabilities arising from a Single Transaction
Replies: 5
Views: 3830

Deferred Tax related to Assets and Liabilities arising from a Single Transaction

Hello everyone, The IASB published the changes to IAS 12 about Deferred Tax related to Assets and Liabilities arising from a Single Transaction. Maybe some of you will find this helpful (especially regarding lease accounting): "...the initial recognition exemption does not apply to transactions...
by marea
04 May 2021, 14:08
Forum: IFRS-related topics
Topic: Transition to IFRS1
Replies: 2
Views: 1551

Re: Transition to IFRS1

Thank you Marek. This makes sense to me.
by marea
04 May 2021, 07:32
Forum: IFRS-related topics
Topic: Transition to IFRS1
Replies: 2
Views: 1551

Transition to IFRS1

Hello everyone, I have a question regarding the application of IFRS 1 for a company that spun off a couple of years ago. How many years back do we need to go to assess transactions/ contracts for IFRS 1 purposes? Is the date when the spin-off occurred relevant or the effective date of the contracts?...
by marea
24 Mar 2021, 19:35
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

I will get back to you when more Information is available, in order to not waste your precious time on some theoretical scenarios.
However, I would like to thank you for the input you provided so far :-)
by marea
24 Mar 2021, 17:26
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

@ JRSB I suppose that it is not dangerous :-)
@ Marek: I understand that the entity must control the underlying asset and this would be the software IMO (IAS 38.13). Sure, other entities can also use the mark, but for their products.
by marea
23 Mar 2021, 21:38
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

For example, if a company wants to obtain a CE mark. It will generate economic benefits, it is identifiable, the entity can prevent others to use the mark and costs can be measured reliably. So, IMO the criteria for recognition would be met, or would this still fall under marketing activities. What ...
by marea
23 Mar 2021, 20:44
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

let´s assume that is a software.
by marea
23 Mar 2021, 19:18
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

I was just wondering what would happen in the event that the certificate was transferable (perhaps via a license as JRSB wrote), that is why I wrote theoretically. I was hoping that someone has already had a similar case since I have not seen it yet :-)
by marea
23 Mar 2021, 09:23
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

Thank you Marek for clarifying. It makes sense to me. In a scenario where the receiving company would theoretically be able to sell the certificate on a separate basis, would in such case the certificate be a separate intangible asset (IA) and recognised as such on the balance sheet of the receiver,...
by marea
23 Mar 2021, 08:05
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

Additionally, I am still not sure wheher the intention of the standard was to make a distinction between such marks being acquired via a business combination or purchased from third parties otherwise. And according to the standard, even if acquired via a business combination they are still described...
by marea
23 Mar 2021, 07:43
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

as Marek said, the company receives the confirmation that the product meets certain requirements. My thought is that if the product can be sold with and/or without the certificate, the certificate alone is able to generate economic benefits and the costs can be measured reliably. As for being identi...
by marea
22 Mar 2021, 22:14
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

Does this explicitly means that all certification marks that are not acquired via business combinations do not meet the criteria for capitalisation, even if purchased from third parties and are not for advetising purposes?
by marea
22 Mar 2021, 20:13
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

Re: quality mark

Thank you both for your reply. @ Marek. Thank you for the link. There, it is stated that "The entity and the doctors do not enter into agreements that create enforceable rights and obligations in relation to those goods". IMO when a company sells a product with a certification mark there u...
by marea
22 Mar 2021, 17:38
Forum: IFRS-related topics
Topic: quality mark
Replies: 27
Views: 10397

quality mark

Hello everyone, When a company receives a quality mark that its product is compliant with a certain standard, would the costs to obtain the mark be eligible for capitalisation or not. I have heard many different interpretations and I would like to hear your opinion. IMO with this mark economic benef...
by marea
20 Mar 2021, 19:28
Forum: IFRS-related topics
Topic: IFRS 1: Internally generated intangible assets
Replies: 5
Views: 4493

Re: IFRS 1: Internally generated intangible assets

@ exIFRS I agree with you.
@ JRSB thank you for your input. I always appreciate hearing what happens in practice.
by marea
20 Mar 2021, 18:01
Forum: IFRS-related topics
Topic: IFRS 1: Internally generated intangible assets
Replies: 5
Views: 4493

Re: IFRS 1: Internally generated intangible assets

Thank you exIFRS. Maybe it just happens to me, but sometimes I find it difficult to understand the logic of the standard correctly (maybe because I am not a native speaker, and I still have a lot to learn....). By looking at IFRS 1. IG46, what confuses me is that the standard says: "....based o...
by marea
20 Mar 2021, 15:46
Forum: IFRS-related topics
Topic: IFRS 1: Internally generated intangible assets
Replies: 5
Views: 4493

IFRS 1: Internally generated intangible assets

Under IFRS 1 as under IAS 38, it is not permitted to reconstruct the costs of internally generated IA retrospectively. However, the standard also says "If an internally generated intangible asset qualifies for recognition at the date of transition, it is recognised in the entity’s opening IFRS ...
by marea
13 Mar 2021, 10:50
Forum: IFRS-related topics
Topic: Partial year depreciation conventions
Replies: 12
Views: 4922

Re: Partial year depreciation conventions

I see. Thank you
by marea
12 Mar 2021, 11:28
Forum: IFRS-related topics
Topic: Partial year depreciation conventions
Replies: 12
Views: 4922

Re: Partial year depreciation conventions

Do they use this approach for all classes of assets or only as stated above :......."individual assets in a relatively homogeneous group are regularly acquired and disposed"....
by marea
12 Mar 2021, 07:17
Forum: IFRS-related topics
Topic: Partial year depreciation conventions
Replies: 12
Views: 4922

Re: Partial year depreciation conventions

Interesting.

Thank you very much. It is interesting to hear the different approaches that companies use in practice.
by marea
11 Mar 2021, 18:25
Forum: IFRS-related topics
Topic: Partial year depreciation conventions
Replies: 12
Views: 4922

Re: Partial year depreciation conventions

Thank you both for your reply.

Not thinking to implement it. I was just wondering whether this was frequently used in practice.
I have seen applying "nearest full monthth" for depreciation only so far.
by marea
11 Mar 2021, 16:17
Forum: IFRS-related topics
Topic: Partial year depreciation conventions
Replies: 12
Views: 4922

Partial year depreciation conventions

I have a question regarding the calculation of the depreciation in practice. Do you start to depreciate an asset based on the day when it is available for use, or you use some conventions (e.g., from the first day of the following month...) or some other ones. "However, if individual assets in ...
by marea
09 Mar 2021, 19:22
Forum: IFRS-related topics
Topic: Definition of Accounting Estimates
Replies: 1
Views: 1214

Re: Definition of Accounting Estimates

Thank you for sharing.
by marea
08 Mar 2021, 13:55
Forum: IFRS-related topics
Topic: IFRS 16 - VAT
Replies: 10
Views: 13109

Re: IFRS 16 - VAT

Thank you exIFRS for your input. It is helpful to know how things work :-)
However, sometimes having a clear guidance helps a lot - from the preparer´s point of view ;) .