Search found 1309 matches

by JRSB
24 Jan 2024, 16:53
Forum: IFRS-related topics
Topic: Contractual terms change - Revenue recognition
Replies: 5
Views: 1465

Re: Contractual terms change - Revenue recognition

Maybe there was a right in law (regardless of your contractual terms) which means in fact that nothing has changed?
Your day-to-day practice also creates an expectation that you will refund even if not contractual so arguably the liability still existed before.
by JRSB
20 Jan 2024, 19:28
Forum: IFRS-related topics
Topic: Inventory
Replies: 8
Views: 2258

Re: Inventory

that's quite a range of goods if you're producing consumer goods and 'steels'?
by JRSB
18 Jan 2024, 16:54
Forum: IFRS-related topics
Topic: Measurement of a real estate under development for sale
Replies: 4
Views: 1296

Re: Measurement of a real estate under development for sale

the question is whether it is inventory or not
by JRSB
16 Jan 2024, 18:23
Forum: IFRS-related topics
Topic: Asset under construction and temporary difference
Replies: 7
Views: 2527

Re: Asset under construction and temporary difference

What would be a subsequent event triggering recognition of deferred tax in this case? If the asset is completed, and is simply depreciated over its useful life, there will be no deferred tax recognised in my understanding.
by JRSB
16 Jan 2024, 12:04
Forum: IFRS-related topics
Topic: Capitalisation of an automated system in an energy producing company
Replies: 3
Views: 1508

Re: Capitalisation of an automated system in an energy producing company

Why is it WIP if you acquired it?
If it's available for use then you need to amortise.
Is there a set licence period when it's available?
by JRSB
16 Jan 2024, 12:00
Forum: IFRS-related topics
Topic: Asset under construction and temporary difference
Replies: 7
Views: 2527

Re: Asset under construction and temporary difference

I suppose for an asset under construction, there will be a daily 'series' of IREs?
by JRSB
09 Jan 2024, 19:34
Forum: IFRS-related topics
Topic: Property Asset Held For Sale
Replies: 2
Views: 1203

Re: Property Asset Held For Sale

What is AHS?

I would say that an arm's length sales price at 9 Jan is good evidence of the fair value 9 days earlier.

It's held at fair value, is it?
by JRSB
07 Jan 2024, 13:08
Forum: General accounting and financial reporting discussion
Topic: Key considerations for insurance.?
Replies: 2
Views: 1247

Re: Key considerations for insurance.?

I assume this is not a financial reporting question?

In which case the answer is whether you can afford the premiums presumably, and what level of cover you need. This may not be the right forum for healthcare advice though.
by JRSB
03 Jan 2024, 17:14
Forum: After hours
Topic: New logo
Replies: 4
Views: 1659

Re: New logo

V nice
by JRSB
28 Dec 2023, 23:21
Forum: IFRS-related topics
Topic: Anotated IFRS set
Replies: 7
Views: 1570

Re: Anotated IFRS set

yes, for example in IFRS 15 there are 63 specific scenarios as examples of the correct application.

but actually if you look at (Free) Big 4 guides, often the same examples are used.
by JRSB
27 Dec 2023, 14:15
Forum: IFRS-related topics
Topic: Anotated IFRS set
Replies: 7
Views: 1570

Re: Anotated IFRS set

I wouldn't expect you'd need too much more than the standard, application guidance and this website
by JRSB
22 Dec 2023, 14:21
Forum: IFRS-related topics
Topic: IFRS 9 - Guarantee Deposits
Replies: 10
Views: 1782

Re: IFRS 9 - Guarantee Deposits

Is it not just on the principle that you are in effect 'giving' the lessor the present value of interest generated by that deposit and so that's a cost just like other initial costs.
by JRSB
18 Dec 2023, 22:42
Forum: IFRS-related topics
Topic: IAS 36 allocation of goodwill to CGUs
Replies: 14
Views: 1908

Re: IAS 36 allocation of goodwill to CGUs

You're either saying that goodwill needs to be tested at the level of multiple CGUs, or that it's impaired...
by JRSB
18 Dec 2023, 12:22
Forum: IFRS-related topics
Topic: IAS 36 allocation of goodwill to CGUs
Replies: 14
Views: 1908

Re: IAS 36 allocation of goodwill to CGUs

It may be that goodwill is allocated across various CGUs (and therefore tested at a higher level than any one CGU).... Start by considering what it represents....why did you pay more than the fair value of assets in the first place?
by JRSB
14 Dec 2023, 18:23
Forum: After hours
Topic: 10,000 posts and counting!
Replies: 3
Views: 1141

Re: 10,000 posts and counting!

Many congrats Marek
by JRSB
13 Dec 2023, 21:02
Forum: IFRS-related topics
Topic: Digital assets treatment
Replies: 8
Views: 1249

Re: Digital assets treatment

sounds like the Supply@MeCapital 'idea' we've discussed on these forums before
by JRSB
13 Dec 2023, 12:24
Forum: IFRS-related topics
Topic: IFRS 9 - Guarantee Deposits
Replies: 10
Views: 1782

Re: IFRS 9 - Guarantee Deposits

It's a financial asset (right to receive cash) at day-1 fair value, ie present value of the cash you'll get at the end, and the difference between face value and fair value is addition to RoU asset at the start of the lease. In plain English, the interest you are foregoing during the lease term is c...
by JRSB
12 Dec 2023, 19:35
Forum: IFRS-related topics
Topic: Interest earned where there is no asset
Replies: 9
Views: 1367

Re: Interest earned where there is no asset

It's significant enough that the auditors want a memo? in any case it sounds in effect like a fee the client is paying ie their money is earning interest and you're holding on to a portion of it. presumably that is then other income as it's not your principle activity.
by JRSB
12 Dec 2023, 11:27
Forum: IFRS-related topics
Topic: IAS 16.58 - Land and buidling
Replies: 5
Views: 1233

Re: IAS 16.58 - Land and buidling

IAS 16.58 is referred in Marek's link
by JRSB
12 Dec 2023, 11:26
Forum: IFRS-related topics
Topic: Interest earned where there is no asset
Replies: 9
Views: 1367

Re: Interest earned where there is no asset

Are you 100% sure the client isn't entitled (in law or regulation) to the full interest earned?
by JRSB
11 Dec 2023, 14:42
Forum: IFRS-related topics
Topic: IAS 16.58 - Land and buidling
Replies: 5
Views: 1233

Re: IAS 16.58 - Land and buidling

Judgement/professional input
by JRSB
10 Dec 2023, 22:47
Forum: IFRS-related topics
Topic: IFRS 9/ IAS 32 - Penny Warrants
Replies: 4
Views: 908

Re: IFRS 9/ IAS 32 - Penny Warrants

are there any conditions other than waiting 3 years? otherwise it does seem like free shares given in 3 years' time. do you hold that 10% interest at fair value?
by JRSB
09 Dec 2023, 15:32
Forum: IFRS-related topics
Topic: Revenue and Cost of sales recognition of Real estate company
Replies: 2
Views: 757

Re: Revenue and Cost of sales recognition of Real estate company

Sounds like the land is inventory for a short period so follow the IAS2 rules on capitalising costs and expense the rest.
by JRSB
05 Dec 2023, 10:33
Forum: IFRS-related topics
Topic: Intercompany Receivable/Payable
Replies: 8
Views: 1204

Re: Intercompany Receivable/Payable

The guidance is IFRS 10, ie the principles of consolidated accounting.
by JRSB
04 Dec 2023, 18:13
Forum: General accounting and financial reporting discussion
Topic: Peppercorn lease accounting
Replies: 5
Views: 2219

Re: Peppercorn lease accounting

As in, you paid a premium up front and then effectively zero for the remainder of the lease term?
by JRSB
04 Dec 2023, 16:17
Forum: IFRS-related topics
Topic: Intercompany Receivable/Payable
Replies: 8
Views: 1204

Re: Intercompany Receivable/Payable

I think you have, at group level there is just the group with a receivable from X
by JRSB
02 Dec 2023, 15:22
Forum: IFRS-related topics
Topic: IFRS16 open-ended contracts reassessment
Replies: 6
Views: 793

Re: IFRS16 open-ended contracts reassessment

is your lease in fact for land, as you say in your example?
If so, presumably you are doing nothing with it, since the lessor can cancel the lease with no notice.
There must be other factors to the scenario, what are the wider economics of the arrangement.