Search found 135 matches
- 08 Mar 2021, 13:45
- Forum: IFRS-related topics
- Topic: IFRS 16 - VAT
- Replies: 10
- Views: 13383
Re: IFRS 16 - VAT
Note 4 emphasizes where such differences could arise. As also Marek mentioned, I was also wondering why does the Committee not take a clear position (or maybe I was not able to identify it). They mention that differences may arise, but they do not explicitly state that they only support one view of ...
- 08 Mar 2021, 13:15
- Forum: IFRS-related topics
- Topic: IFRS 16 - VAT
- Replies: 10
- Views: 13383
Re: IFRS 16 - VAT
Thank you exIFRS Maybe I used the word approach incorectly, and should have used the word "view". I understand that there are two views on how to account for non-refundable VAT, explained on page 12-17. I understand that even if there is little diversity in accounting for non-refundable VA...
- 08 Mar 2021, 12:28
- Forum: IFRS-related topics
- Topic: IFRS 16 - VAT
- Replies: 10
- Views: 13383
Re: IFRS 16 - VAT
Regarding this topic, it it seems that different approaches are applied regarding non-refundable VAT. See the last item on the agenda and the attached paper with the discussion.
https://www.ifrs.org/news-and-events/ca ... committee/
https://www.ifrs.org/news-and-events/ca ... committee/
- 05 Mar 2021, 15:28
- Forum: IFRS-related topics
- Topic: BUCC - Subsidiary merged into parent
- Replies: 11
- Views: 2389
Re: BUCC - Subsidiary merged into parent
Yes you are right, I was too quick with my reply .
- 05 Mar 2021, 15:12
- Forum: IFRS-related topics
- Topic: BUCC - Subsidiary merged into parent
- Replies: 11
- Views: 2389
Re: BUCC - Subsidiary merged into parent
Thank you. This is helpful. I noticed that they presented it retrospectively.
- 05 Mar 2021, 13:44
- Forum: IFRS-related topics
- Topic: BUCC - Subsidiary merged into parent
- Replies: 11
- Views: 2389
Re: BUCC - Subsidiary merged into parent
Yes, you are right. It is just that I have not heard about it nor seen it in practice yet.
- 05 Mar 2021, 13:33
- Forum: IFRS-related topics
- Topic: BUCC - Subsidiary merged into parent
- Replies: 11
- Views: 2389
Re: BUCC - Subsidiary merged into parent
This is interesting about recognising the goodwill in separate financial statements.
Thank you very much Marek.
Thank you very much Marek.
- 05 Mar 2021, 13:11
- Forum: IFRS-related topics
- Topic: BUCC - Subsidiary merged into parent
- Replies: 11
- Views: 2389
Re: BUCC - Subsidiary merged into parent
Yes, let´s assume it is. I presume that the goodwill will still remain in the consolidated FS, or am I wrong? I couldn´t find anything specific on this issue. I had a look at the DP issued by IASB, but such a case is not mentioned.
https://www.iasplus.com/en/news/2020/11/bcucc
https://www.iasplus.com/en/news/2020/11/bcucc
- 05 Mar 2021, 11:50
- Forum: IFRS-related topics
- Topic: BUCC - Subsidiary merged into parent
- Replies: 11
- Views: 2389
BUCC - Subsidiary merged into parent
Hello everyone, I have a question. In a scenario where a wholly -owned subisidiary is merged into its parent, it is my understanding that such transaction is outside the scope of IFRS 3. Is the difference between the investment in sub and the merged assets and liablities recognised in equity in the ...
- 24 Feb 2021, 17:59
- Forum: IFRS-related topics
- Topic: How to judge whether infinite or finite intangible asset - brand as an example
- Replies: 10
- Views: 2598
Re: How to judge whether infinite or finite intangible asset - brand as an example
For example, Apple ist the most valued brand (according to Forbes, worth $241.2 B) but, as already stated in one of the previous posts, it cannot be recognized as an asset on the company´s balance sheet.
https://www.forbes.com/the-worlds-most- ... 39a636119c
https://www.forbes.com/the-worlds-most- ... 39a636119c
- 24 Feb 2021, 16:45
- Forum: IFRS-related topics
- Topic: IFRS Diploma/Certificate & Dobule book entries
- Replies: 23
- Views: 5385
Re: IFRS Diploma/Certificate & Dobule book entries
You can also try with opentuition. Financial accounting course could be helpful in your case. I am of the opinion that it is always benefical to have a solid background and then build on it . Then you can continue with FR and SBR.
https://opentuition.com/acca/fa/
https://opentuition.com/acca/fa/
- 12 Feb 2021, 09:45
- Forum: IFRS-related topics
- Topic: Resources page
- Replies: 8
- Views: 2161
Re: Resources page
The ressource page is a great idea
I find the webinars and e - learning sections on the BDO Page also useful.
https://www.bdo.com.au/en-au/ifrstraininghub/elearning
https://www.bdo.com.au/en-au/ifrstraininghub/webinars
@ Marek. Please remove if irrelevant.
I find the webinars and e - learning sections on the BDO Page also useful.
https://www.bdo.com.au/en-au/ifrstraininghub/elearning
https://www.bdo.com.au/en-au/ifrstraininghub/webinars
@ Marek. Please remove if irrelevant.
- 31 Jan 2021, 18:24
- Forum: IFRS-related topics
- Topic: Practical approaches to lease term under IFRS 16
- Replies: 10
- Views: 3395
Re: Practical approaches to lease term under IFRS 16
Thank you both for your input, and thanks Marek for sharing your response. I fully agree with your response, especially with the part about cancellable leases and the fact that often both parties need to consent to extend the lease term. IMO, technically speaking, the lease term would then be the co...
- 31 Jan 2021, 10:53
- Forum: IFRS-related topics
- Topic: ias 12
- Replies: 2
- Views: 1017
Re: ias 12
This topic is explained in the knowledge base:
https://ifrscommunity.com/knowledge-base/deferred-tax/
https://ifrscommunity.com/knowledge-base/deferred-tax/
- 30 Jan 2021, 17:35
- Forum: IFRS-related topics
- Topic: Practical approaches to lease term under IFRS 16
- Replies: 10
- Views: 3395
Re: Practical approaches to lease term under IFRS 16
Let´s assume that the company has a leased property (HQ building) with unlimited lease term (evergreen lease), and let´s also asume that the term is defined based on the horison of the strategic planning: 5 years. At which point in time would it be necessary to reassess the lease term?
- 01 Dec 2020, 07:00
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
It makes sense to me. Thank you.
- 30 Nov 2020, 20:57
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
Right , otherwise it would undermine the reasoning of recognising the preference shares as equity I guess.
- 30 Nov 2020, 20:27
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
Thank you Marek . I was surprised how complex this topic could be.
Last clarification: Would the fixed cumulative dividends not be recognised in SOFP, provided that the preference shares are entiteled to a yearly fixed dividend?
Last clarification: Would the fixed cumulative dividends not be recognised in SOFP, provided that the preference shares are entiteled to a yearly fixed dividend?
- 30 Nov 2020, 16:49
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
I thought that dividends will accrue over time... @ Marek I would maybe also add "where preference shares that are ireedimable and payment of dividends is at the discretion of the issuer" would be classified as equity. To have the whole picture. Thank you all so much for your help on this ...
- 30 Nov 2020, 08:39
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
one additional question,
How is the term liquidation interpreted in this case? Would this explanation be equally applied in the case of selling the company?
How is the term liquidation interpreted in this case? Would this explanation be equally applied in the case of selling the company?
- 30 Nov 2020, 07:24
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
I found an interesting explanation from IASB DP/2018/1 about FICE "One classification outcome that would change as a result of the articulation of the second feature is that of irredeemable fixed-rate cumulative preference shares (see paragraph 3.23(c)). IAS 32 classifies such cumulative prefer...
- 29 Nov 2020, 20:06
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
Thanks for clarifying
- 29 Nov 2020, 19:48
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
@ Marek. I think IAS 32 16C is only applicable to puttable instruments as I understand and would not apply in this case IMO.
- 29 Nov 2020, 18:30
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
@ Marek: This was my first thought about the accounting treatment, and that´s why I wrote that it was all clear yesterday. BUT after reading the aditional posts I am not sure about whether the fact that the payment can be postponed let´s say until liquidation makes the dividends non-discretional bec...
- 29 Nov 2020, 11:48
- Forum: IFRS-related topics
- Topic: Guidance - Invt in Associate - Equity Accounting
- Replies: 10
- Views: 2449
Re: Guidance - Invt in Associate - Equity Accounting
I agree with exIFRS. Joint control exists inly if decisions about relevant activities are taken unanimously (in your example it seems that in an event of a deadlock your party can be outvoted). Examples of relevant activities are listed in IFRS10.B11.
- 29 Nov 2020, 11:37
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
If the only condition is that the dividend only has to be paid before the ordinary shareholders get a dividend it is deemed to be discretionary But what if the terms are that preference shares are entiteled to an annual fixed dividend. In my view such dividend is non-discretional, the issuer has no...
- 29 Nov 2020, 01:50
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
Apparently, there is still room for discussion :-) @ JRSB that is a valid point. @exIFRS “I had come across the same document when looking at this, but it hinges on the dividend being "non-discretionary" which is not necessarily the same as cumulative?” Which part of dividends do you refer...
- 28 Nov 2020, 15:54
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
Thank you both for your help .
Everything is clear now.
Everything is clear now.
- 28 Nov 2020, 14:52
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
I think this should probably be reflected in the higher discount rate, which would then have as the outcome the calculation of the liability and equity component.
- 28 Nov 2020, 14:31
- Forum: IFRS-related topics
- Topic: Financial Instruments with Characteristics of Equity
- Replies: 57
- Views: 53224
Re: Financial Instruments with Characteristics of Equity
Thank you Marek. Will have a look at it. Another thing came into my mind. What if in the case of liquidation the shareholders of preference shares receive their original investmet first, and thereafter they receive the residual on a pro rata share. So this part is similar to regular shares. Any idea...