Search found 1309 matches

by JRSB
28 Mar 2024, 12:19
Forum: IFRS-related topics
Topic: Net Assets at Acquisition
Replies: 6
Views: 60

Re: Net Assets at Acquisition

Leo, maybe the subsidiary has net liabilities which is why the existing shareholders would be happy to be diluted in this way.
by JRSB
27 Mar 2024, 16:15
Forum: IFRS-related topics
Topic: Net Assets at Acquisition
Replies: 6
Views: 60

Re: Net Assets at Acquisition

PS are the (now) minority shareholders happy with this arrangement!
by JRSB
27 Mar 2024, 16:14
Forum: IFRS-related topics
Topic: Net Assets at Acquisition
Replies: 6
Views: 60

Re: Net Assets at Acquisition

It's an interesting question, since the cash never leaves the group. So the group isn't acquiring that cash.
by JRSB
26 Mar 2024, 23:06
Forum: IFRS-related topics
Topic: Termination Benefits IAS 19 or IAS 37
Replies: 1
Views: 23

Re: Termination Benefits IAS 19 or IAS 37

Seems like a restructuring provision (with disclosure) will do the trick. Presumably this is one element of various costs to be incurred as part of that restructuring. IAS 19 scope says it includes items where an obligation arises and where there is no realistic alternative but to pay the benefit. W...
by JRSB
25 Mar 2024, 19:04
Forum: IFRS-related topics
Topic: ECL for short term lending
Replies: 10
Views: 111

Re: ECL for short term lending

Jackob, good point about bullet loans, maybe there's 1 day left but actually there is no record of payments being made, as none were due until the last day. I guess that makes monitoring much more complex as you have no observable information. I guess you obtain even more evidence in these cases, eg...
by JRSB
22 Mar 2024, 11:01
Forum: IFRS-related topics
Topic: IFRS16 lease -Finance cost grouping
Replies: 5
Views: 83

Re: IFRS16 lease -Finance cost grouping

If you're asking whether it's acceptable to show the interest within finance costs, yes, I think you've identified the para which requires that.
by JRSB
21 Mar 2024, 16:55
Forum: IFRS-related topics
Topic: Accrued Interest - Loan Write Off
Replies: 3
Views: 52

Re: Accrued Interest - Loan Write Off

Depends on the wording in the loan agreement as to the contractual period over which interest accrues. But if it's contractually due, then the bad debt is the entire amount including accrued interest.

Are you writing off, or raising a 100% credit loss provision?
by JRSB
21 Mar 2024, 11:53
Forum: IFRS-related topics
Topic: IFRS16 lease -Finance cost grouping
Replies: 5
Views: 83

Re: IFRS16 lease -Finance cost grouping

If you isolate R&D costs as a separate P&L line perhaps you're better to put the RoU asset depreciation there?
by JRSB
21 Mar 2024, 11:13
Forum: IFRS-related topics
Topic: Reversal of liability
Replies: 4
Views: 59

Re: Reversal of liability

write back through P&L, effectively as a change in measurement of contingent consideration
by JRSB
21 Mar 2024, 10:22
Forum: IFRS-related topics
Topic: IAS 7 - cashflow
Replies: 5
Views: 50

Re: IAS 7 - cashflow

statement of changes in equity.

are you referring to the share based payment charge within P&L? (ie the debit rather than the credit)? if so, add it back as a non-cash movement.
by JRSB
20 Mar 2024, 14:38
Forum: IFRS-related topics
Topic: ECL for short term lending
Replies: 10
Views: 111

Re: ECL for short term lending

presumably you'd already know with certainty if it had defaulted by the time you prepare the financial reports..?
by JRSB
20 Mar 2024, 14:36
Forum: General accounting and financial reporting discussion
Topic: Companies acts consolidation exemption and IFRS 10 exemptions
Replies: 15
Views: 131

Re: Companies acts consolidation exemption and IFRS 10 exemptions

as far as I'm aware CA06 only talks about exemption from consolidation in terms of group size, ie you are exempt if you are a small group, as defined. I'd be surprised if there is much of a cross section between 'small' groups and those who apply IFRS and are investment companies. I guess if there's...
by JRSB
19 Mar 2024, 19:00
Forum: IFRS-related topics
Topic: Definition of Gross Margin under IFRS
Replies: 6
Views: 57

Re: Definition of Gross Margin under IFRS

I'm mean there is no definition so you can do what you want as long as it's consistent and not misleading.
by JRSB
19 Mar 2024, 11:05
Forum: IFRS-related topics
Topic: Reversal of liability
Replies: 4
Views: 59

Re: Reversal of liability

It's 3 years later so if A had considered the $1m was payable, it is assessed that the fair value of that contingent consideration was $1m at the time, then reverse through P&L.

Or was it an error to record the $1m as a liability in the first place based on information at the time?
by JRSB
13 Mar 2024, 19:32
Forum: General accounting and financial reporting discussion
Topic: Companies acts consolidation exemption and IFRS 10 exemptions
Replies: 15
Views: 131

Re: Companies acts consolidation exemption and IFRS 10 exemptions

Where does CA06 say individual accounts have to show subsidiaries at fair value?
by JRSB
13 Mar 2024, 17:16
Forum: IFRS-related topics
Topic: IAS 38 - Intangible Assets
Replies: 3
Views: 39

Re: IAS 38 - Intangible Assets

Intangible assets acquired with variable consideration is an open matter so you can determine a policy. But is it an intangible asset?
by JRSB
13 Mar 2024, 14:45
Forum: IFRS-related topics
Topic: IFRS 16 - Lease expenses
Replies: 2
Views: 51

Re: IFRS 16 - Lease expenses

Seems like the per page fee is a variable lease payment hence not in the lease liability (P&L when incurred)
by JRSB
11 Mar 2024, 00:46
Forum: IFRS-related topics
Topic: IAS 40 Cost model with annual impairment
Replies: 3
Views: 370

Re: IAS 40 Cost model with annual impairment

if you hold at cost you need to disclose the fair value anyway, so it'll be clear if that is lower than carrying value.

also, the scope of IAS 36 includes investment property held at cost as only FV model Investment property is scoped out
by JRSB
09 Mar 2024, 19:06
Forum: IFRS-related topics
Topic: Time deposits
Replies: 5
Views: 345

Re: Time deposits

A receivable is a financial asset.
by JRSB
06 Mar 2024, 15:24
Forum: IFRS-related topics
Topic: IFRS 16 Variable EIR
Replies: 3
Views: 335

Re: IFRS 16 Variable EIR

I don't see how an implicit interest rate can be variable in that sense, since it is implicit through replicating the present value of lease payments compared to what you would pay to acquire the asset outright. are the lease payments themselves variable?
by JRSB
05 Mar 2024, 10:46
Forum: IFRS-related topics
Topic: Unused tax loss treatment
Replies: 1
Views: 277

Re: Unused tax loss treatment

In a basic case, you just have zero tax liability if you're allowed to use those previous losses to offset. And then given you have a profit, maybe you have a deferred tax asset if profits are probable forward, to the extent unused losses remain. But sounds like your question is a tax one rather tha...
by JRSB
02 Mar 2024, 12:38
Forum: General accounting and financial reporting discussion
Topic: Depreciation of Diagnostic Laboratory Equipment
Replies: 8
Views: 503

Re: Depreciation of Diagnostic Laboratory Equipment

I worked with a company with diagnostic lab equipment and they used 4-5 years but may not be useful for the reason above.
by JRSB
01 Mar 2024, 15:42
Forum: General accounting and financial reporting discussion
Topic: Depreciation of Diagnostic Laboratory Equipment
Replies: 8
Views: 503

Re: Depreciation of Diagnostic Laboratory Equipment

if you're the auditor then it's for the client to make that judgement isn't it. We can't really comment as it depends on that specific equipment and the business etc
by JRSB
01 Mar 2024, 11:56
Forum: General accounting and financial reporting discussion
Topic: Depreciation of Diagnostic Laboratory Equipment
Replies: 8
Views: 503

Re: Depreciation of Diagnostic Laboratory Equipment

you can easily find some examples/benchmarks in pharma companies

do your own staff not know how long the machines will be used for?
by JRSB
28 Feb 2024, 17:48
Forum: IFRS-related topics
Topic: Right of Use Asset at the Date of Transition to IFRS
Replies: 2
Views: 264

Re: Right of Use Asset at the Date of Transition to IFRs

IFRS 16 has two options for transition.