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.
Search found 1309 matches
- 24 Jan 2024, 16:53
- Forum: IFRS-related topics
- Topic: Contractual terms change - Revenue recognition
- Replies: 5
- Views: 1465
- 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'?
- 19 Jan 2024, 10:54
- 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
then lower of cost and NRV
- 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
- 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.
- 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?
If it's available for use then you need to amortise.
Is there a set licence period when it's available?
- 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?
- 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?
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?
- 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.
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.
- 03 Jan 2024, 17:14
- Forum: After hours
- Topic: New logo
- Replies: 4
- Views: 1659
Re: New logo
V nice
- 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.
but actually if you look at (Free) Big 4 guides, often the same examples are used.
- 28 Dec 2023, 13:50
- Forum: IFRS-related topics
- Topic: Anotated IFRS set
- Replies: 7
- Views: 1570
- 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
- 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.
- 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...
- 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?
- 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
- 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
- 13 Dec 2023, 13:29
- Forum: IFRS-related topics
- Topic: IFRS 9 - Guarantee Deposits
- Replies: 10
- Views: 1782
Re: IFRS 9 - Guarantee Deposits
I learnt it from Marek! https://ifrscommunity.com/knowledge-bas ... osits-paid
- 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...
- 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.
- 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
- 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?
- 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
- 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?
- 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.
- 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.
- 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?
- 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
- 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.
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.