Search found 1338 matches
- 30 Apr 2024, 21:20
- Forum: General accounting and financial reporting discussion
- Topic: Overall vs planning materiality
- Replies: 2
- Views: 83
Re: Overall vs planning materiality
Nothing. Yes you set planning materiality (at planning) and change it as you go along as necessary, but that's not really relevant info for the audit report. Guess they're saying they set it at planning and it didn't change from there.
- 30 Apr 2024, 11:44
- Forum: IFRS-related topics
- Topic: Pre-Operational Expenses treatment
- Replies: 7
- Views: 93
Re: Pre-Operational Expenses treatment
ok, I read 'all of those costs' different to you then!
- 29 Apr 2024, 21:54
- Forum: IFRS-related topics
- Topic: Pre-Operational Expenses treatment
- Replies: 7
- Views: 93
Re: Pre-Operational Expenses treatment
also if you did do that, you'd have to restate as it sounds like you're talking about costs from years ago
- 29 Apr 2024, 17:07
- Forum: IFRS-related topics
- Topic: IFRS 2 fixed bonus pool
- Replies: 13
- Views: 288
Re: IFRS 2 fixed bonus pool
Since there is a guaranteed element settled in shares, is that not a 'share based payment' regardless of whether it's tied to share value'?
- 29 Apr 2024, 13:14
- Forum: IFRS-related topics
- Topic: Exit Fee - SPPI test
- Replies: 4
- Views: 55
Re: Exit Fee - SPPI test
seems in substance it's just another fixed payment forming part of the effective interest as it's always due, the only question is when
- 25 Apr 2024, 10:28
- Forum: IFRS-related topics
- Topic: Contingent liabilities & bank guarantee (In a general sense)
- Replies: 6
- Views: 882
Re: Contingent liabilities & bank guarantee (In a general sense)
ok interesting. is that upfront fee an asset amortised over the life of the guarantee? also if this was the UK, then the chance of share capital falling below a required level (and the guarantee being called) would probably be considered remote; but maybe in UAE it varies by external factors or some...
- 25 Apr 2024, 09:57
- Forum: IFRS-related topics
- Topic: Loan from shareholders - Disclosure in the financials
- Replies: 2
- Views: 87
Re: Loan from shareholders - Disclosure in the financials
Yes related party disclosure, split current vs non-current as with any other loan, and since you're suggesting there's a non current element there's probably an inferred capital contribution by reference to what market market would be.
- 25 Apr 2024, 09:55
- Forum: IFRS-related topics
- Topic: Contingent liabilities & bank guarantee (In a general sense)
- Replies: 6
- Views: 882
Re: Contingent liabilities & bank guarantee (In a general sense)
I don't understand the arrangement to be honest! The bank is giving a guarantee that share capital will be maintained, what is the bank getting from it?
- 24 Apr 2024, 19:33
- Forum: IFRS-related topics
- Topic: Debt pricing re-set
- Replies: 16
- Views: 242
Re: Debt pricing re-set
But the commitment fee is likely payable even if you don't draw anything, so it relates to the facility itself and not any drawdown.
- 23 Apr 2024, 14:25
- Forum: IFRS-related topics
- Topic: Change of lessor
- Replies: 5
- Views: 106
Re: Change of lessor
yes. presumably the lessor novated the lease to another party.
- 23 Apr 2024, 13:03
- Forum: IFRS-related topics
- Topic: Change of lessor
- Replies: 5
- Views: 106
Re: Change of lessor
nothing
- 22 Apr 2024, 23:45
- Forum: IFRS-related topics
- Topic: IFRS 15 change of period of recognition of up-front fee
- Replies: 3
- Views: 116
Re: IFRS 15 change of period of recognition of up-front fee
Why are you changing it
- 22 Apr 2024, 23:44
- Forum: IFRS-related topics
- Topic: Extension of lease agreement
- Replies: 6
- Views: 106
Re: Extension of lease agreement
substance is it's an extension, even if technically a new lease
- 22 Apr 2024, 23:43
- Forum: IFRS-related topics
- Topic: Extension of lease agreement
- Replies: 6
- Views: 106
Re: Extension of lease agreement
lease modification - remeasure liability using revised discount rate and revise asset accordingly
- 15 Apr 2024, 20:28
- Forum: IFRS-related topics
- Topic: Waiver of interest on loan to associate
- Replies: 6
- Views: 877
Re: Waiver of interest on loan to associate
I guess the other option for the Debit is to increase the investment in associate by your share as a capital contribution (like if it was a subsidiary) but I don't know the answer I'm afraid!
- 08 Apr 2024, 20:42
- Forum: IFRS-related topics
- Topic: Prior year adjustments
- Replies: 8
- Views: 851
Re: Prior year adjustments
previous year audited by KPMG...
- 08 Apr 2024, 18:38
- Forum: IFRS-related topics
- Topic: Prior year adjustments
- Replies: 8
- Views: 851
Re: Prior year adjustments
if the link doesn't work for you (does for me) go to https://find-and-update.company-informa ... ce.gov.uk/ and look at the 2022 accounts of The University of Law Limited
- 08 Apr 2024, 18:09
- Forum: IFRS-related topics
- Topic: Prior year adjustments
- Replies: 8
- Views: 851
Re: Prior year adjustments
Check this out... a nightmare one https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/d6LJMz3OQF4S7AwDdznX-7CJbFIAS5S54vgTooQU2og/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3LFT6LLX3%2F20240408%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Dat...
- 06 Apr 2024, 15:32
- Forum: IFRS-related topics
- Topic: Credit note received after YE
- Replies: 13
- Views: 1174
Re: Credit note received after YE
If you knew you had achieved the volume for a discount and the invoices received were pre-discount, I'd recognise the discount in P&L with a corresponding adjustment to payables and then offset it when the credit note was subsequently received
- 05 Apr 2024, 19:55
- Forum: IFRS-related topics
- Topic: IAS 36 Value in use
- Replies: 3
- Views: 461
Re: IAS 36 Value in use
can you demonstrate your ability to accurately forecast 7 years ahead, based on a review of previous forecasts made? (ias 36 para 35)
- 05 Apr 2024, 14:47
- Forum: IFRS-related topics
- Topic: ECL on loans designated at FVOCI
- Replies: 7
- Views: 680
- 05 Apr 2024, 10:30
- Forum: IFRS-related topics
- Topic: IAS 36 Value in use
- Replies: 3
- Views: 461
Re: IAS 36 Value in use
Use the first 5 years from your forecast then apply the terminal value if it's appropriate to assume the asset will be valuable for ever....
The idea is that you can't reasonably forecast over 5 years so you can only assume the wider market growth rate after that
The idea is that you can't reasonably forecast over 5 years so you can only assume the wider market growth rate after that
- 03 Apr 2024, 22:09
- Forum: IFRS-related topics
- Topic: Royalties & sales commissions
- Replies: 12
- Views: 1118
Re: Royalties & sales commissions
the latter could be an asset under IFRS 15; it will depend a lot on the specifics if you have a specific case to share
- 03 Apr 2024, 15:31
- Forum: IFRS-related topics
- Topic: Credit note received after YE
- Replies: 13
- Views: 1174
Re: Credit note received after YE
Are you an (unhappy) auditor? This is the same reason you would review post year end credit notes in revenue testing.
- 03 Apr 2024, 11:08
- Forum: IFRS-related topics
- Topic: Credit note received after YE
- Replies: 13
- Views: 1174
Re: Credit note received after YE
Most likely represents conditions at year end, eg incorrect pricing or volume etc, so is an adjusting event. Or is it because of decisions made/arising entirely after year end?
- 01 Apr 2024, 22:08
- Forum: IFRS-related topics
- Topic: Inventory sale and repurchase
- Replies: 2
- Views: 410
Re: Inventory sale and repurchase
Interested to hear where you are with it currently ConfussedA. Do you think it's a genuine sale in substance?
- 01 Apr 2024, 14:16
- Forum: IFRS-related topics
- Topic: Taxation
- Replies: 3
- Views: 436
Re: Taxation
if your business is only doing export business then maybe perform the reconciliation against 3%. you don't have to use the headline rate in your country. if it's a mix then a reconciling item might be the effect of reduced rate on export profits. for deferred tax, same question really...what are you...
- 01 Apr 2024, 14:14
- Forum: IFRS-related topics
- Topic: Fully depreciated assets still in use
- Replies: 10
- Views: 33330
Re: Fully depreciated assets still in use
so the estimate of useful life may have been wrong in the first place then.
but anyway, once it's fully depreciated you can't bring the value back unless you think there was an error to restate.
or have you overhauled the asset so that it has a new cost to depreciate?
but anyway, once it's fully depreciated you can't bring the value back unless you think there was an error to restate.
or have you overhauled the asset so that it has a new cost to depreciate?
- 01 Apr 2024, 13:14
- Forum: IFRS-related topics
- Topic: Fully depreciated assets still in use
- Replies: 10
- Views: 33330
Re: Fully depreciated assets still in use
is it because of an error in earlier periods, or new information about the useful life?
- 28 Mar 2024, 12:19
- Forum: IFRS-related topics
- Topic: Net Assets at Acquisition
- Replies: 14
- Views: 1318
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.