Search found 868 matches

by JRSB
08 Aug 2022, 21:33
Forum: IFRS-related topics
Topic: Goodwill allocation to NCI in consolidation at the date of acquisition
Replies: 9
Views: 77

Re: Goodwill allocation to NCI in consolidation at the date of acquisition

It's saying that figure isn't a calculation but a fair value eg maybe an observed value.
by JRSB
08 Aug 2022, 16:55
Forum: IFRS-related topics
Topic: Goodwill allocation to NCI in consolidation at the date of acquisition
Replies: 9
Views: 77

Re: Goodwill allocation to NCI in consolidation at the date of acquisition

For a business combination, IFRS 3 allows the acquirer (or parent) to measure NCI in the acquiree either at fair value (the fair value approach, also known as the full goodwill method) or at the NCI’s proportionate share of the acquiree’s identifiable net assets (the proportionate share approach, al...
by JRSB
04 Aug 2022, 14:44
Forum: IFRS-related topics
Topic: IFRS 16 Advance Payment - Cash flow presentation
Replies: 7
Views: 104

Re: IFRS 16 Advance Payment - Cash flow presentation

you mean you have paid some office rent in advance, for example?
by JRSB
03 Aug 2022, 21:13
Forum: IFRS-related topics
Topic: Fair Value of Financial Instrument
Replies: 10
Views: 122

Re: Fair Value of Financial Instrument

Even in those paras of IFRS 13 I can't see the requirement except when there was a non-recurring fair value determination like in a combination. Happy to be corrected that this is required for a standard loan which is carried at A.c.
by JRSB
03 Aug 2022, 19:38
Forum: IFRS-related topics
Topic: Fair Value of Financial Instrument
Replies: 10
Views: 122

Re: Fair Value of Financial Instrument

Leo, IFRS 13 is for assets carried at fair value. Where does it need any disclosure about a SPPI loan asset which is carried at amortised cost?
by JRSB
03 Aug 2022, 18:53
Forum: IFRS-related topics
Topic: Fair Value of Financial Instrument
Replies: 10
Views: 122

Re: Fair Value of Financial Instrument

If it's amortised cost then it's not held at fair value, unless I misunderstood?
by JRSB
03 Aug 2022, 13:04
Forum: IFRS-related topics
Topic: 1yr office lease term but with auto renewal 1yr every year
Replies: 6
Views: 105

Re: 1yr office lease term but with auto renewal 1yr every year

Ok, here on the larger commercial deals you'd see fairly long leases with a break option.
by JRSB
03 Aug 2022, 10:55
Forum: IFRS-related topics
Topic: 1yr office lease term but with auto renewal 1yr every year
Replies: 6
Views: 105

Re: 1yr office lease term but with auto renewal 1yr every year

It would be odd to do 11 month contracts just to avoid lease accounting, for all sorts of commercial and legal reasons, if you actually need the asset for longer than that. Probably only related party arrangements that are trying to do that.
by JRSB
02 Aug 2022, 13:38
Forum: IFRS-related topics
Topic: Intra-group transactions in separate financial statements
Replies: 5
Views: 621

Re: Intra-group transactions in separate financial statements

It’s worth noting that such a guarantee should be eliminated from consolidated financial statements if the underlying borrowing is already shown in the consolidated statement of financial position. out of interest, why do you say 'if' here, if the parent has issue a guarantee then presumably it's d...
by JRSB
02 Aug 2022, 10:21
Forum: IFRS-related topics
Topic: IFSR 16 - Prepayments
Replies: 7
Views: 124

Re: IFSR 16 - Prepayments

Why isn't the lease liability zero after the final lease payment is made?
by JRSB
28 Jul 2022, 20:20
Forum: General accounting and financial reporting discussion
Topic: Captive cell accountig
Replies: 6
Views: 109

Re: Captive cell accountig

what kind of business does this happen in? I've never come across it. why are there legally distinct cells within a single entity - why not separate it out if it's that important?
by JRSB
25 Jul 2022, 12:57
Forum: IFRS-related topics
Topic: SPPI of Equity stocks
Replies: 6
Views: 5091

Re: SPPI of Equity stocks

I recognise this question from somewhere 8-)
by JRSB
25 Jul 2022, 12:56
Forum: IFRS-related topics
Topic: Classification and Reclassification of Assets IFRS9
Replies: 10
Views: 6582

Re: Classification and Reclassification of Assets IFRS9

An interesting idea, guess you'd have a pretty sizeable investment in IBM for that to be worthwhile, and to think carefully about which category you sell, if not all of it.
by JRSB
23 Jul 2022, 11:26
Forum: General accounting and financial reporting discussion
Topic: FRC: The inspection results at BDO and Mazars remain unacceptable
Replies: 4
Views: 5048

Re: FRC: The inspection results at BDO and Mazars remain unacceptable

I'd guess that Mazars have a history of bringing over French staff, given their heritage, but I'm not aware of a deluge of EU workers in the UK audit market.... As for not being an attractive career, those big firms I think trade on reputation in terms of recruiting but the model of constantly havin...
by JRSB
22 Jul 2022, 21:57
Forum: General accounting and financial reporting discussion
Topic: FRC: The inspection results at BDO and Mazars remain unacceptable
Replies: 4
Views: 5048

Re: FRC: The inspection results at BDO and Mazars remain unacceptable

In the UK , BDO is #5, and is much bigger than #6, so is often the only option other than Big4. But they're not getting rid of enough existing clients. Guess the partners like their profits too much to worry about impacts on quality!
by JRSB
22 Jul 2022, 21:53
Forum: General accounting and financial reporting discussion
Topic: Tier 1 audit firms de-risking their portfolios
Replies: 1
Views: 2606

Re: Tier 1 audit firms de-risking their portfolios

Hmm what did they think would happen, as you say. The only option is much higher fees in Tier 2 so that FRC requirements can be met so service higher risk clients. Almost all Top 10 firms in the UK have had big fines levied in the last couple of years. GT and Hacker Young in the last week...., pwc x...
by JRSB
22 Jul 2022, 12:44
Forum: General accounting and financial reporting discussion
Topic: Correcting Journals
Replies: 6
Views: 3635

Re: Correcting Journals

ok you talked about crediting bank in the first post. go with that
by JRSB
22 Jul 2022, 12:01
Forum: General accounting and financial reporting discussion
Topic: Correcting Journals
Replies: 6
Views: 3635

Re: Correcting Journals

well did the money come out the bank or is it still owed.. I don't really understand the situation to be honest with you
by JRSB
22 Jul 2022, 09:37
Forum: General accounting and financial reporting discussion
Topic: Correcting Journals
Replies: 6
Views: 3635

Re: Correcting Journals

Well what was credited then? or are you asking how to account for a purchase?
by JRSB
20 Jul 2022, 16:27
Forum: IFRS-related topics
Topic: Inventory
Replies: 22
Views: 14159

Re: Inventory

I guess your company isn't audited. Perhaps you can suggest that.
by JRSB
20 Jul 2022, 14:14
Forum: IFRS-related topics
Topic: Inventory
Replies: 22
Views: 14159

Re: Inventory

:lol: well if it's still able to run a car then it's inventory like Marek says
by JRSB
20 Jul 2022, 11:30
Forum: IFRS-related topics
Topic: Inventory
Replies: 22
Views: 14159

Re: Inventory

To be fair I've never seen a company record in inventory the fuel that was in the company cars at year end! I assume they have a lot of company cars!
by JRSB
20 Jul 2022, 09:47
Forum: IFRS-related topics
Topic: Inventory
Replies: 22
Views: 14159

Re: Inventory

did they explain to you why they think it's not inventory at the year end?
by JRSB
19 Jul 2022, 17:06
Forum: IFRS-related topics
Topic: Inventory
Replies: 22
Views: 14159

Re: Inventory

ok it's starting to sound like professional time / 'work in progress' which is written off because it's not billable or something, yes please answer Marek's point!
by JRSB
19 Jul 2022, 15:00
Forum: IFRS-related topics
Topic: Inventory
Replies: 22
Views: 14159

Re: Inventory

ok but if the company does control inventory at the balance sheet date, which has realisable value, it should be in balance sheet.
by JRSB
19 Jul 2022, 14:40
Forum: IFRS-related topics
Topic: Inventory
Replies: 22
Views: 14159

Re: Inventory

Is that because it is impaired, eg it's expired or not saleable if not sold by year end?

Otherwise is just wrong!
by JRSB
19 Jul 2022, 14:39
Forum: IFRS-related topics
Topic: Inventory
Replies: 22
Views: 14159

Re: Inventory

Without having sold it?