Search found 8 matches

by nguyenlong
07 Aug 2020, 15:28
Forum: IFRS-related topics
Topic: IAS 1 - Classification of liabilities as current or non-current
Replies: 14
Views: 2247

Re: IAS 1 - Classification of liabilities as current or non-current

Thank you, mr. exIFRS and mr. Marek for your comments. It clears my confusion.
by nguyenlong
07 Aug 2020, 14:38
Forum: IFRS-related topics
Topic: IAS 1 - Classification of liabilities as current or non-current
Replies: 14
Views: 2247

IAS 1 - Classification of liabilities as current or non-current

In January 2020, IASB issued an amendment to IAS 1. As I read the amendment, something confused me: Paragraph 69 of the standard said that: "An entity shall classify a liability as current when: (a) it expects to settle the liability in its normal operating cycle;" And paragraph 75A of the...
by nguyenlong
31 Jul 2020, 09:58
Forum: IFRS-related topics
Topic: Leasehold Land Revaluation
Replies: 9
Views: 2669

Re: Leasehold Land Revaluation

Yes, if the lease is within the scope of IAS 40 - Investment property which allows the fair value model. The lease is Investment property if they are held for capital appreciation or rental. In my country, the lessors often pay a one-time fee to government and receive a one-time payment from the les...
by nguyenlong
31 Jul 2020, 09:37
Forum: IFRS-related topics
Topic: IFRS 16 - Lessor accounting
Replies: 5
Views: 1382

Re: IFRS 16 - Lessor accounting

The alternative basis is for when you have other basis that are clearly more faithful than the straight-line basis. In your cases, the revenue should be recognised on the straight-line basis, which means the revenue recognised for each year is the same, regardless of the escalation in price in the y...
by nguyenlong
31 Jul 2020, 09:26
Forum: IFRS-related topics
Topic: Capitalize unconsumed office supplies?
Replies: 22
Views: 4698

Re: Capitalize unconsumed office supplies?

In my view, office supplies are in the scope of IAS 16 if they are used for more than 1 year. If not, then they should be expensed as incurred.
by nguyenlong
31 Jul 2020, 09:22
Forum: IFRS-related topics
Topic: Anticipated dividends
Replies: 14
Views: 2716

Re: Anticipated dividends

It's a transaction between a company and an owner in their capacity as owner and hence, the transaction is not qualified as an expense (IAS 1). You should reduce the amount of the company equity, but only when you already have the obligation to pay the money. In this case, it is the withdrawal of co...
by nguyenlong
31 Jul 2020, 09:10
Forum: IFRS-related topics
Topic: Pricipal vs agent: electricity charges to tenants under IFRS
Replies: 4
Views: 1258

Pricipal vs agent: electricity charges to tenants under IFRS

Hi everyone. Considering the following scenario: "A real estate company, which rents out units to different tenants and charges its own rate on utilities like electricity to tenants, at the rates set by the company (not by utility provider). The company pays the electricity bill for all the pro...