Search found 575 matches

by JRSB
24 Jul 2021, 16:09
Forum: IFRS-related topics
Topic: Error or Accounting estimate
Replies: 6
Views: 17

Re: Error or Accounting estimate

I can't believe an audit fee, or similar fee, is material, so it's not restatement territory but as to the precise correct answer, you can make a judgement.
by JRSB
24 Jul 2021, 15:16
Forum: IFRS-related topics
Topic: Error or Accounting estimate
Replies: 6
Views: 17

Re: Error or Accounting estimate

did you engage an auditor before the year end
by JRSB
24 Jul 2021, 13:38
Forum: IFRS-related topics
Topic: Error or Accounting estimate
Replies: 6
Views: 17

Re: Error or Accounting estimate

Did you know, at the balance sheet date, that an audit of that period's results would be requested? (If it's a mandatory audit then clearly the answer is yes).
by JRSB
14 Jul 2021, 15:44
Forum: IFRS-related topics
Topic: IAS 36 Impairment added to the cost of another asset?
Replies: 6
Views: 67

Re: IAS 36 Impairment added to the cost of another asset?

How about, in advance, revising the useful life to very short such that large depreciation is charged....and no impairment
by JRSB
07 Jul 2021, 09:25
Forum: IFRS-related topics
Topic: IFRS 16_Cars right to purchase
Replies: 4
Views: 57

Re: IFRS 16_Cars right to purchase

yes, surprised the employee would be a party to the original lease
by JRSB
07 Jul 2021, 09:24
Forum: IFRS-related topics
Topic: IFRS16:32
Replies: 6
Views: 58

Re: IFRS16:32

Isn't that just talking about the depreciation on said asset - in practice a transfer between asset classes would happen in presentation terms
by JRSB
04 Jul 2021, 11:08
Forum: IFRS-related topics
Topic: IFRS 5
Replies: 3
Views: 54

Re: IFRS 5

:lol: :lol:
by JRSB
30 Jun 2021, 20:25
Forum: IFRS-related topics
Topic: Customer contracts under IFRS 3
Replies: 5
Views: 60

Re: Customer contracts under IFRS 3

It's probably in the books of the acquiree already? As deferred income etc?
by JRSB
29 Jun 2021, 10:36
Forum: IFRS-related topics
Topic: Capitalization of internally generated assets
Replies: 7
Views: 93

Re: Capitalization of internally generated assets

there isn't really a cost saving element is there? either external person does it or your own people use up their time.
by JRSB
29 Jun 2021, 10:35
Forum: IFRS-related topics
Topic: IFRS to local standard transition
Replies: 2
Views: 45

Re: IFRS to local standard transition

More likely you need to look at the local GAAP because that'll have transitional rules like IFRS does.
by JRSB
23 Jun 2021, 19:33
Forum: IFRS-related topics
Topic: Creating a JV and impair the investment immediately ?
Replies: 10
Views: 101

Re: Creating a JV and impair the investment immediately ?

but your original question was about impairment, but if there's more than just cash in there, even if know how, that shows why not impaired perhaps.
by JRSB
23 Jun 2021, 19:32
Forum: IFRS-related topics
Topic: Creating a JV and impair the investment immediately ?
Replies: 10
Views: 101

Re: Creating a JV and impair the investment immediately ?

I've seen different cases whey they might formally assign certain intellectual property to that JV entity (including 'know how' or development work to date or something), but in others they might simply act as operator and not record any assets in contribution.
by JRSB
23 Jun 2021, 11:52
Forum: IFRS-related topics
Topic: Creating a JV and impair the investment immediately ?
Replies: 10
Views: 101

Re: Creating a JV and impair the investment immediately ?

Why enter into it if the other party contributes nothing? Or do they currently have some access right etc which will allow the JV project to progress etc?
by JRSB
23 Jun 2021, 11:50
Forum: IFRS-related topics
Topic: Share warrants issued to shareholders
Replies: 6
Views: 74

Re: Share warrants issued to shareholders

An incentive to keep holding the shares? Not sure what the company gets out of it, since if the value goes to 150 or above they could issue new shares at that price at the time. why does it matter if current shareholders sell their shares in the absence of getting warrants.. if cash is needed in fut...
by JRSB
22 Jun 2021, 10:59
Forum: IFRS-related topics
Topic: Share warrants issued to shareholders
Replies: 6
Views: 74

Re: Share warrants issued to shareholders

Why did you issue them warrants? Just for future fundraising options?
by JRSB
18 Jun 2021, 17:44
Forum: IFRS-related topics
Topic: ifrs 3, consolidating a parent company
Replies: 1
Views: 74

Re: ifrs 3, consolidating a parent company

Look at whole of the acquired subgroup.
by JRSB
18 Jun 2021, 10:10
Forum: IFRS-related topics
Topic: Dividend in stock/shares rather than cash
Replies: 3
Views: 92

Re: Dividend in stock/shares rather than cash

You may be confusing things here? Dividends go to the shareholders - or are your executives also the same people as the shareholders? If you're issuing new shares to the Board as remuneration then that's a share based payment. If you're issuing new shares to shareholders then its probably a capital ...
by JRSB
08 Jun 2021, 18:05
Forum: IFRS-related topics
Topic: discount on revenue
Replies: 6
Views: 148

Re: discount on revenue

Was the discount a contractual factor the terms of which had been met at year end? Or completely discretionary and a decision was made after year end?
by JRSB
03 Jun 2021, 22:20
Forum: IFRS-related topics
Topic: Embedded derivative
Replies: 11
Views: 197

Re: Embedded derivative

I guess if that were an asset/liability there would be no end of similar 'derivatives' for various commercial clauses in revenue contracts.
by JRSB
01 Jun 2021, 19:28
Forum: IFRS-related topics
Topic: IAS 38 Intangible Assets
Replies: 3
Views: 111

Re: IAS 38 Intangible Assets

See IAs 38 para 57
by JRSB
27 May 2021, 14:40
Forum: IFRS-related topics
Topic: Above-par instruments and current/non-current distinction
Replies: 19
Views: 342

Re: Above-par instruments and current/non-current distinction

It is required to, and expected to, be paid annually over 3 years. Just checking on the principle of splitting a FV asset between current and non-current, thanks!
by JRSB
27 May 2021, 11:11
Forum: IFRS-related topics
Topic: Above-par instruments and current/non-current distinction
Replies: 19
Views: 342

Re: Above-par instruments and current/non-current distinction

For a loan asset held at fair value (because of mandatory, but variable, repayments in years 1,2,3) is it still appropriate to split between current and non-current? It seems an obvious question but looking for the relevant reference.
by JRSB
27 May 2021, 11:09
Forum: IFRS-related topics
Topic: Associate accounting
Replies: 7
Views: 136

Re: Associate accounting

Why no impact in consol?
by JRSB
21 May 2021, 09:26
Forum: IFRS-related topics
Topic: Testing of goodwill impairment
Replies: 3
Views: 77

Re: Testing of goodwill impairment

Those are approaches to valuing a company but bear in mind the goodwill may not be attributable just to the legal entity that was acquired giving rise to the goodwill.
by JRSB
17 May 2021, 13:11
Forum: IFRS-related topics
Topic: Combined financial statements - New entity added to the group
Replies: 4
Views: 127

Re: Combined financial statements - New entity added to the group

I've seen some unusual arrangements like this and just requires a potentially quite extensive explanation of what is and isnt included and on what basis. Is it audited?
by JRSB
12 May 2021, 21:19
Forum: IFRS-related topics
Topic: Above-par instruments and current/non-current distinction
Replies: 19
Views: 342

Re: Above-par instruments and current/non-current distinction

Interesting points, thanks. I was just thinking about current/non-current concept, and really it is arbitrary in understanding a company, since a year as a unit of time is of varying significance, though its there for comparability. I suppose current/non-current is not strictly based on a year, eg '...
by JRSB
11 May 2021, 10:58
Forum: IFRS-related topics
Topic: Interest Income on a Loan Asset Measured per FVTPL
Replies: 4
Views: 104

Re: Interest Income on a Loan Asset Measured per FVTPL

I thought if its deemed FVTPL then it's all FV movement but I know it's more complicated than that...