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Hi, I have a question. My Company applies for the first time IFRS, (it applies the local gaap until now). So, I will present for the annual closing 30/06/2020: two balance sheets (with the restated opening on 01/07/2018), two P&L, two cash flow, two OCI, and two change in equity. My question is ...

Thank you very much for your help!
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Thank you Marek, it amazes me that what you have just concluded in a short time was exactly the reason of my struggles lol So, if not 100% upfront as revenue, what would be in your opinion, the type of revenue that I have to defer over the life of the contract? So that maybe, I can examine that in d...

Hi Marel,

Thank you for your reply,

Do I have to comply with the three conditions or just one of them is enough to demonstrate that it could be qualified as principal?

Thank you.

Hi, I would like some opinion on the accounting of domain names. I'm working for a company that commercializes domain names (with tacitly renewal option), which means that they buy the licenses from regulation authorities, and then sell to clients just after. They book 100% of the sale into revenue ...

Hi everyone, I would like to ask you one question because it's not crystal clear to me. I would like to take the case of a loan borrowed from BANK A for 10M€ for 5 years, and each year, the company has to reimburse 2M€. In that case, imagine that the loan happened at 01.01.2019, so, at the end of th...

Hello everyone, A quick post to ask you if you applied the differed tax on the IFRS16 lease. My point of view is that at inception when the right of use is equal to the debt, there is no differed tax-raising from the recognition. But, over the life of the contract, there will be differed tax-raising...

Thank you ExIFRS and Murek, After your comments, I read your documentation and others. It's true that for handsets, they are, for most occasions, considered as a PO. However, my company never sells the phone separately, which means that if the customers want to have the phone, they have to subscribe...

Hi Marek, thank you for your help, it was very useful. After my alayse of the contract, here is my point of view : 1. Is the contract falls into the scope of IFRS16 is a lease? Not really, because the company has the property of the modem and the phone, and specifies in the contract that the client ...

Hi, The company I'm working for, offer VOIP and ADSL services to clients. The offer is formulated to clients via a service pack which includes the periodical subscription along with phone and modem rental. The phone and modem are rented to clients for free, at the subscription of the pack. In the co...

Hi,

I've found the answer to my question.

First-time adopters must apply the full retrospective method with its expedients.

In my case, that would be at 01/09/2018. Before that date, all completed contracts under previous GAAP, will not be transitioned in IFRS15.

Thank you

Yes exactly, that is why I asked you about the transition date because it's not crystal clear for me. Company A has always applied local GAAP, and then decide to transit into IFRS at 31/08/2020. In order to do so, they must have one comparative period which is FY2019. The IFRS starting date would be...

Hi Marek, Company A has a large range of revenue because they are a telecom/cloud company. From server rental to ADSL services etc. the analysis would be to identify and focalize only on the revenue with the largest contribution in the total revenue of the group and then analyze those contracts in o...

Hi everybody, I hope you all are doing well! I would like to ask you one question regarding the first application of IFRS15. I would like to illustrate my question with an example : Company A, which produces its financial reporting in its own local GAAP (closing on 31/08), took the decision to trans...

Thank you, Marek, so I understand that my figures are correct then?

Thanks!

Thank you Marek for your confirmation.

@pub_accro, thank you for your reply. Would you please tell me what would you suggest as accounting figures? I would like your point of view also.

Thanks !

Hi everybody, Thank you very much for your help! So, would you please tell me if my understanding is accurate vis à vis your comments : In my example, company A has concluded with Bank B on a 500M€ RCF, borrow and repay at wish in a 5 years period. Every three months, the Company A renew its positio...

Dear Marek, Thank you for creating this wonderful forum, every topic are very interesting and important for our professional career! I do have one question that I can't find anywhere (Google, books, etc...), it's the accounting treatments for revolving credit facilities (with floating rate and perio...