Search found 99 matches

by Leo
24 Nov 2020, 13:31
Forum: IFRS-related topics
Topic: Contract liabilities disclosure
Replies: 8
Views: 76

Re: Contract liabilities disclosure

Hi Marek, Yea, I was talking about IFRS15.120. So for services with 36 months commitments, at the billing date, we record the following entries: Dt Client 360 € (BS) Cr Differed revenue 360€ (BS) At the end of the first month, we'll record the following entries : Dt Differed revenue 10€ (BS) Cr Reve...
by Leo
24 Nov 2020, 11:27
Forum: IFRS-related topics
Topic: Contract liabilities disclosure
Replies: 8
Views: 76

Re: Contract liabilities disclosure

Hi, Please let me ask a quick question about the backlog disclosure. We provide connectivity services to our clients. Sometimes, the client buy our servers with 36 monthly commitments, and sometimes, the client just subscribe to our monthly services without other commitments. In the first case, all ...
by Leo
23 Nov 2020, 15:41
Forum: IFRS-related topics
Topic: Contract liabilities disclosure
Replies: 8
Views: 76

Re: Contract liabilities disclosure

We are so lucky that we don't have it :)

Best regards !
by Leo
23 Nov 2020, 14:28
Forum: IFRS-related topics
Topic: Contract liabilities disclosure
Replies: 8
Views: 76

Re: Contract liabilities disclosure

Thank you very much Marek for your help. Now I understand better. However, I think that it's difficult to be applied in practice because companies should distinguish in their deferred revenue, the part of revenue from estimates (constraining estimates of variable considerations). the amount of 13K€ ...
by Leo
20 Nov 2020, 16:53
Forum: IFRS-related topics
Topic: Contract liabilities disclosure
Replies: 8
Views: 76

Contract liabilities disclosure

Hi Guys, I do have a question on the disclosure of contract liabilities. Here below the extract of the standard : Commentary IFRS 15.116 also requires disclosure of ‘revenue recognised in the reporting period that was included in the contract liability balance at the beginning of the period’ and ‘re...
by Leo
19 Nov 2020, 10:56
Forum: IFRS-related topics
Topic: EBITDA in P&L
Replies: 8
Views: 56

Re: EBITDA in P&L

Thank you !
by Leo
19 Nov 2020, 10:36
Forum: IFRS-related topics
Topic: EBITDA in P&L
Replies: 8
Views: 56

EBITDA in P&L

Hi everyone, Our company wants to show the aggregate EBITDA in the primary Profit and loss statement. However, the auditors had refused to let us do it because EBITDA isn't defined by IFRS. Did you already see some listed companies showing EBITDA in their primary profit & loss statement? Is this str...
by Leo
17 Nov 2020, 16:41
Forum: IFRS-related topics
Topic: Amortisation of Goodwill
Replies: 12
Views: 57

Re: Amortisation of Goodwill

Great answers !!!
by Leo
17 Nov 2020, 16:35
Forum: IFRS-related topics
Topic: Amortisation of Goodwill
Replies: 12
Views: 57

Re: Amortisation of Goodwill

Are you guys checking the forum every minute because you replied in such a short time!
by Leo
17 Nov 2020, 16:26
Forum: IFRS-related topics
Topic: Amortisation of Goodwill
Replies: 12
Views: 57

Re: Amortisation of Goodwill

I did't know that this even exists. it's fabulous.

Thank you, thank you Marek too and IFRSCommunity of course!
by Leo
17 Nov 2020, 16:18
Forum: IFRS-related topics
Topic: Amortisation of Goodwill
Replies: 12
Views: 57

Amortisation of Goodwill

Hi everyone, It seems to me that some people are agree to allow amortisation on the goodwill, for which only depreciation based on impairment testing is allowed under IFRS. What's the arguments (advantage) of amortising a goodwill over impairment? Isn't it more economic for the goodwill to be impair...
by Leo
09 Nov 2020, 15:16
Forum: IFRS-related topics
Topic: IFRS16 first adoption
Replies: 9
Views: 50

Re: IFRS16 first adoption

thank you guys, perfect :)
by Leo
09 Nov 2020, 14:47
Forum: IFRS-related topics
Topic: IFRS16 first adoption
Replies: 9
Views: 50

Re: IFRS16 first adoption

But if I read IFRS1, D9B, I understand that it's applicable also to first time adapters? (IFRS 1 D9B). And if it was not applicable to first time adopters, so how should I interpret the statement below ? (ii) an amount equal to the lease liability, adjusted by the amount of any prepaid or accrued le...
by Leo
09 Nov 2020, 14:36
Forum: IFRS-related topics
Topic: IFRS16 first adoption
Replies: 9
Views: 50

Re: IFRS16 first adoption

It's really first time adotpion, before it was in local GAAP.
by Leo
09 Nov 2020, 13:02
Forum: IFRS-related topics
Topic: IFRS16 first adoption
Replies: 9
Views: 50

Re: IFRS16 first adoption

Thank you Mr !

So I can apply the retrospective modified approach at 01 September 2017 :)

BR
by Leo
09 Nov 2020, 12:41
Forum: IFRS-related topics
Topic: IFRS16 first adoption
Replies: 9
Views: 50

IFRS16 first adoption

IFRS16 - First Time Adoption Hi everyone, I have a doubt, if a company close at 31/08 each year and choose for the first time to adopt IFRS, for example for its financial statements at 31/08/2020, and we are making three comparative years so starting at 01 September 2017. For IFRS16, we apply retros...
by Leo
26 Oct 2020, 19:16
Forum: IFRS-related topics
Topic: Revolving credit facilities accounting
Replies: 18
Views: 1682

Re: Revolving credit facilities accounting

I'm presenting it as a financial cost.
by Leo
23 Oct 2020, 19:54
Forum: IFRS-related topics
Topic: Selling 50% of a level of consolidation
Replies: 6
Views: 106

Re: Selling 50% of a level of consolidation

Hi, Thank you Marek, thank you, Naumann. If the cession of 50% of the part is just to continue the activities but with a new partner, we don't want to sell it, we want just manage the activities with a new partner who'll bring its know how. Do I still need to relass all the assets and liabilities in...
by Leo
23 Oct 2020, 10:10
Forum: IFRS-related topics
Topic: In a operation of selling 50% of a company, where should the fees go?
Replies: 11
Views: 99

Re: In a operation of selling 50% of a company, where should the fees go?

Thank you guys !!! The joint control is really something we discussed a lot with our auditors, and they'd approved that it'll be a joint control. It seems to me that the acquisition costs istn't treated the same way between IAS28 and IFRS3, thus, we could capitalize a portion of it. This is really g...
by Leo
22 Oct 2020, 23:35
Forum: IFRS-related topics
Topic: In a operation of selling 50% of a company, where should the fees go?
Replies: 11
Views: 99

In a operation of selling 50% of a company, where should the fees go?

Hi, In the case that you control an entity in full consolidation (100% of shares), and you'll sell 50% of the shares for example (joint control), so you'll change the consolidation method from full consolidation to equity method. So, you'll calculate a gain&loss from the selling of 50% of the entity...
by Leo
21 Oct 2020, 01:15
Forum: IFRS-related topics
Topic: Selling 50% of a level of consolidation
Replies: 6
Views: 106

Re: Selling 50% of a level of consolidation

Thank you Marek for your reply. I agree, after child 1 pass from 100% to 50%, the grandchildren will be consolidated also by using equity method at 50%. (not out of scope as I stated earlier). I was looking also into the IFRS5 which says that when the entity is committed to a sale plan involving a l...
by Leo
20 Oct 2020, 12:34
Forum: IFRS-related topics
Topic: Selling 50% of a level of consolidation
Replies: 6
Views: 106

Selling 50% of a level of consolidation

Hi Guys, Our company has one subsidiary lets call it Child 1 we hold at 100% (full consolidation). This Subsidiary has two other subsidiaries that it holds at 100%, lets call them Grandchildren 1 (Full consolidation) and Grandchildren 2 (Full consolidation). Our company plans to sell 50% of the Chil...
by Leo
18 Oct 2020, 18:09
Forum: IFRS-related topics
Topic: Disposal of entity consolidated by equity method
Replies: 4
Views: 87

Re: Disposal of entity consolidated by equity method

Hi there, Thank you all for your reply. What I can't understand is that, when you acquire a company at equity method (lets say 50%), you book in the account "Investments in subsidiaries by equity method" at the purchase value. In subsequent measurements, you increase or decrease the item Investments...
by Leo
16 Oct 2020, 19:30
Forum: IFRS-related topics
Topic: Disposal of entity consolidated by equity method
Replies: 4
Views: 87

Disposal of entity consolidated by equity method

Hi guys, We are selling an entity consolidated by using equity method. I just want to validate that my accounting treatment is correct. I'll apply the following formula : If the operation happens in Q3 : Selling Price less (-) Carrying amount the investment by equity method (book value) Plus/Less (+...
by Leo
16 Oct 2020, 19:20
Forum: IFRS-related topics
Topic: Electricity contract
Replies: 10
Views: 138

Re: Electricity contract

Hi guys, Thank you for your reply. Actually, we are negotiating with the supplier and the contract isn't finalized yet. The consultant told us that some of those type of contract could be treated as IFRS16, all depends on how to write the contract. We clearly don't want it to be in the scope of IFRS...
by Leo
14 Oct 2020, 17:15
Forum: IFRS-related topics
Topic: Questions on the accounting of cash settled plan
Replies: 2
Views: 57

Re: Questions on the accounting of cash settled plan

Hi Marek,

Thank you for your feedback, I ll be succint next time.

No problem.

Thank yo again.
by Leo
14 Oct 2020, 17:15
Forum: IFRS-related topics
Topic: Electricity contract
Replies: 10
Views: 138

Electricity contract

Hi, I have a question, our company has negociate a electricity contract with a wind power company. In the contract, we made the commitment to the electricity supplier to receive the totality of the electricity that the energy company could produce during the next 20 years. (4M€ per year as estimatio...
by Leo
13 Oct 2020, 10:35
Forum: IFRS-related topics
Topic: Questions on the accounting of cash settled plan
Replies: 2
Views: 57

Questions on the accounting of cash settled plan

Hi everyone, Our company has issued in 2017 a particular cash-settled plan which name is share subscription warrants to 20 top management members of the company. The warrant was issued by a subsidiary A of the company. In the contract, there is one clause telling that, if the warrant is converted in...
by Leo
09 Oct 2020, 10:45
Forum: IFRS-related topics
Topic: Deposits
Replies: 5
Views: 55

Re: Deposits

I've made a manual cash flow adjustment in my consolidation tolls, but you are right !!!

Thank you again !

Sincerely
by Leo
09 Oct 2020, 10:41
Forum: IFRS-related topics
Topic: Deposits
Replies: 5
Views: 55

Re: Deposits

Thank you guys, I'll modify. One more question, the variation of this item (deposits), might I classified in operating debt in the statement of cash flow, because it's more related to the business activities of the company ? My consolidation tool classified in the financial cash flow by default, and...