Search found 8 matches
- 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.
- 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...
- 31 Jul 2020, 11:43
- Forum: IFRS-related topics
- Topic: Pricipal vs agent: electricity charges to tenants under IFRS
- Replies: 4
- Views: 1258
Re: Pricipal vs agent: electricity charges to tenants under IFRS
Thank you, mr. Marek, for sharing your thoughts
- 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...
- 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...
- 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.
- 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...
- 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...