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Given that I am acknowledging a non-financial intangible asset, I am required to amortize it over a period of three years, correct? This implies that at the conclusion of three years, the Net Book Value (NBV) of this right will be ZERO. Subsequently, in accordance with IAS 16, I will recognize Prope...

Therefore, if I consider this amount as a lease incentive, I would subtract it from the Right-of-Use Asset (ROUA) and Lease Liability. Subsequently, I would record it as a non-financial intangible asset. What would be the corresponding entry on the credit side?

The total lease term for the store is for 5 years. After 3 years as the the lease contract the ownership of the assets will be transferred to the lessee i.e. us

Greetings, everyone. I'm currently serving as a finance manager for a company with multiple restaurants in the UAE. We recently opened a new restaurant within a mall, and as part of our contract with the mall owners, they are providing us with 500,000 AED for the acquisition of fixed assets. However...

Hi everyone I am working in a tech company where there are multiple convertible loan agreements with investors. Almost all have the same clauses extract of which is as follows: This loan is convertible upon a qualifying event i.e (a) Conversion on a Qualified Equity Financing, the Next Round Shares;...

No they are interlinked

Yes these are three different apps but i cannot separate the payroll cost reliably over all these apps but i can record this as a whole if its possible

I have already tested this criteria. The only problem is I cannot separate the cost of each application but i can record this as a whole or one if its possible?

Hello Everyone I am working in a Tech company whose principal line of business is e-commerce B2B Business basically it sell trading day to day products to retailer through its online platform, for this the entity has internally generated two android applications and one cloud based database which ar...

So what will be impact on the financials of the investing company?

So you mean there will be impairment on the assets of the company

Hello I am been working at accounting firm, there i have seen an investment classified at FVOCI (With no Recycling). Investment is in an unlisted/unquoted Company. Investment was made at price of Rs. 9.8 per share then later valued at Rs. 10 per share. Valuation was made through Discounted Cashflow ...

Lease Modification applies when there is change in scope but in this case there is no change in overall 30 years but only the change from 5 years to 7 years of cancellation

During my work I found a lease of 30 years with 10 year payment in advance but the lease agreement has a clause that if the asset is not being used for 5 years then the lease will stand cancelled & forfeited then entity applied for to increase the cancellable period for 2 years for which the ent...

Yes. it only provides a loss allowance on the initial recognition but i want to know what if subsequently a loss allowance again is required and the asset still stays credit impaired.

Hi, As I know that the treatment of Credit Impaired Financial Asset is to calculate Interest Revenue using the Effective Interest Rate on the Amortized Cost i.e. Gross Carrying Amount less Loss Allowance. The day(For e.g 1 January 2010) the asset gets Credit Impaired I calculated the impairment as p...

As per IAS 16 Para 39 Subsequent Revaluation Gains are first credited to Profit/Loss to the extent that the gain reverses a loss previously recognised in the Profit/Loss. But what usually I have seen in Financial Statements during Subsequent Revaluation, the Gain is recognised net of depreciation ch...

Sir, - 5.6.2 - 7 tells about only the reclassification of all Financial Assets - B 5.6.1 tells us about the reclassification between FVOCI and Amortised Cost, their Effective Rate and Loss Allowance treatment - B 6.6.2 tells us about the reclassification out of FVPNL None talks about Transaction Cos...

What will be the treatment of Transaction Cost in case Financial Asset is Relassified from FVOCI to FVPNL?

Actually Audit Firms in my country are bound by the CA Regulators to make contracts with the employees and Trainees. If I leave my 2 years experience will be lapsed and I have to start from all over again even increasing my whole CA Career Time And here you can't be CA if you are not associated with...

I have a contract with PwC for working for a period of 3.5 years that's why i cant leave it before the period completion.

Working in Pwc for around 2 years in Audit and Assurance Department along Studying Chartered Accountancy
My Age is 23

How can I earn some money based on my IFRS and Accounting Knowledge?

Accounting of Continuing Involvement in case Asset is measured at Amortized Cost

Can any body explain continuing Involvment in IFRS 9

What will be the treatment if Financial Asset is sold before maturity?

Does Buyer Lessor treats a lease always as a Operating Lease?
If Not then what will be the treatment under Finance lease?