Search found 3 matches

by spramod69
21 Jul 2020, 22:17
Forum: IFRS-related topics
Topic: Industrial Research Assistance Program ( IRAP) - COVID 19 subsidy
Replies: 1
Views: 585

Industrial Research Assistance Program ( IRAP) - COVID 19 subsidy

Hi Everyone, National Research council of Canada(NRC) through their IRAP program offered wage subsidy to SMEs with some criteria to deal with COVID-19. How do we treat this funding received from NRC from IFRS and Tax point of view. Whether we need to treat this as Other income or do we need to net o...
by spramod69
09 Jul 2020, 13:45
Forum: IFRS-related topics
Topic: Treatment of professional fees paid to raise capital
Replies: 16
Views: 23336

Re: Treatment of professional fees paid to raise capital

Thank you everyone. What I get from the conversation, 1. The monthly fees will hit to P & L irrespective of raising capital successful or not, as its incurred. 2.The % completion fees will be netted off against equity in case raising capital is successful as its directly attributable to it. Corr...
by spramod69
08 Jul 2020, 14:00
Forum: IFRS-related topics
Topic: Treatment of professional fees paid to raise capital
Replies: 16
Views: 23336

Treatment of professional fees paid to raise capital

Hello Everyone, We have engaged one external agency to help us to raise equity capital. As per engagement letter, we are supposed to pay this agency a fixed monthly fees and completion fees (in % terms) after successful raise of capital . We should see the result by end of this year i.e. Dec'2020. W...