Search found 1308 matches

by JRSB
14 Feb 2024, 18:43
Forum: General accounting and financial reporting discussion
Topic: Date of Authorization for Issue
Replies: 11
Views: 183

Re: Date of Authorization for Issue

You can issue the audit after the company signs off but as you say typically is is the same time. You need to be ready to explain why there was a gap and what happened in between. Why did the company sign before the audit was finished? If the audit was finished, why delay the sign off?
by JRSB
14 Feb 2024, 18:39
Forum: IFRS-related topics
Topic: Equity method exemptions
Replies: 18
Views: 1108

Re: Equity method exemptions

in my experience of french administration, 19th century sounds about right. the amount of payroll deductions all with different rules.....
by JRSB
14 Feb 2024, 18:37
Forum: IFRS-related topics
Topic: Souscription of preference shares after closing
Replies: 12
Views: 508

Re: Souscription of preference shares after closing

If you look at it technically then you could also look at an example when you agree to buy shares in 10 years' time, which is a forward?
by JRSB
14 Feb 2024, 13:25
Forum: IFRS-related topics
Topic: Equity method exemptions
Replies: 18
Views: 1108

Re: Equity method exemptions

Am I right to say that France has a mandated 'chart of accounts'? In which case that would explain it.
by JRSB
14 Feb 2024, 13:23
Forum: IFRS-related topics
Topic: Souscription of preference shares after closing
Replies: 12
Views: 508

Re: Souscription of preference shares after closing

Technically it depends exactly when the agreements says the shares will be allotted (Dec or Feb). Seems like overkill to think of this as a forward but I accept we're thinking about what's technically correct.
by JRSB
14 Feb 2024, 12:18
Forum: General accounting and financial reporting discussion
Topic: Date of Authorization for Issue
Replies: 11
Views: 183

Re: Date of Authorization for Issue

I don't think it's necessarily any of those dates; its when the management (Board?) of that company met and agreed to approve the accounts. You wouldn't issue an audit opinion after the date they were authorised, and it can't be before the final revisions, so it must be at some point between 2 Oct a...
by JRSB
14 Feb 2024, 12:15
Forum: IFRS-related topics
Topic: Equity method exemptions
Replies: 18
Views: 1108

Re: Equity method exemptions

some fairly sizeable organisations use spreadsheets for consolidation in the UK, I wonder if it differs elsewhere.
by JRSB
14 Feb 2024, 12:11
Forum: IFRS-related topics
Topic: Souscription of preference shares after closing
Replies: 12
Views: 508

Re: Souscription of preference shares after closing

seems like a fine line between this and simple unpaid share capital.
by JRSB
14 Feb 2024, 12:07
Forum: IFRS-related topics
Topic: ROU asset de-recognition on sub lease
Replies: 3
Views: 241

Re: ROU asset de-recognition on sub lease

is the sublease an operating or finance lease? if operating then you'll keep the lease entries. you mention re-recognising the lease so presumably the sublease is only part of the life of the lease, so presumably it's operating. so leave the lease on balance sheet.
by JRSB
14 Feb 2024, 12:02
Forum: IFRS-related topics
Topic: IAS 36 Decision tree in the Knowledge Base
Replies: 8
Views: 341

Re: IAS 36 Decision tree in the Knowledge Base

How do you know that asset is impaired?
by JRSB
07 Feb 2024, 19:21
Forum: IFRS-related topics
Topic: Business Combination under Common Control?
Replies: 5
Views: 169

Re: Business Combination under Common Control?

Yes most likely, other impacts depend on how the restructure was achieved.
by JRSB
07 Feb 2024, 14:05
Forum: IFRS-related topics
Topic: Business Combination under Common Control?
Replies: 5
Views: 169

Re: Business Combination under Common Control?

correct. but there is impact in standalone accounts.
by JRSB
07 Feb 2024, 11:46
Forum: IFRS-related topics
Topic: Data Migration
Replies: 2
Views: 127

Re: Data Migration

Sounds like part of the costs of acquisition in some ways, so I'd say no, seems like costs you often see in a separate line in P&L in the acquisition year.
by JRSB
07 Feb 2024, 11:45
Forum: IFRS-related topics
Topic: IAS 36 Value in Use vs Fair Value Using Income Approach
Replies: 5
Views: 387

Re: IAS 36 Value in Use vs Fair Value Using Income Approach

Yes and I think in this case there's insufficient explanation for the reason for the change.
But a bit clearer now.
by JRSB
06 Feb 2024, 11:22
Forum: IFRS-related topics
Topic: Regulated prices
Replies: 6
Views: 290

Re: Regulated prices

As in "Rate Regulated Activities"?
by JRSB
05 Feb 2024, 18:30
Forum: IFRS-related topics
Topic: IAS 36 Value in Use vs Fair Value Using Income Approach
Replies: 5
Views: 387

Re: IAS 36

Yes it's Haleon PLC. So based on the above, it sounds as though the income approach will in almost all cases allow a wider interpretation and therefore a higher value, which seems to make the VIU redundant to some extent. "The Group tests all its indefinite life brands for impairment by applyin...
by JRSB
04 Feb 2024, 15:12
Forum: IFRS-related topics
Topic: IAS 36 Value in Use vs Fair Value Using Income Approach
Replies: 5
Views: 387

IAS 36 Value in Use vs Fair Value Using Income Approach

Taking the impairment test using higher of VIU and FVLCTS. IFRS 13 includes the 'income approach' which is based on discounted future cash flows. what is the difference between a fair value calculated using the income approach, and value in use itself? To give the specific example, I am looking at t...
by JRSB
02 Feb 2024, 17:56
Forum: IFRS-related topics
Topic: Financial guarantee
Replies: 19
Views: 987

Re: Financial guarantee

In practice, wouldn't the guarantee be a condition, rather than an optional feature to lower the interest rate? ie making it difficult to identify the incremental points.
by JRSB
02 Feb 2024, 11:34
Forum: IFRS-related topics
Topic: IFRS 3 - Contingent consideration (Earn-Out) - seller side accounting
Replies: 4
Views: 559

Re: IFRS 3 - Contingent consideration (Earn-Out) - seller side accounting

Forecast the future cash receipts and discount based on expected timing. It's uncertain so best estimate revised at each reporting date.
by JRSB
01 Feb 2024, 16:20
Forum: IFRS-related topics
Topic: Financial guarantee
Replies: 19
Views: 987

Re: Financial guarantee

Very generous to do that for an associate!
by JRSB
31 Jan 2024, 18:35
Forum: General accounting and financial reporting discussion
Topic: Accounting AI Software Startup question
Replies: 4
Views: 720

Re: Accounting AI Software Startup question

there are programmes to instantly check all totals and note references etc so an AI-driven disclosure check must be very doable, it could highlight the main judgements it has applied and so on. someone can build it but can it be protected from copycats, that's the question.
by JRSB
30 Jan 2024, 16:55
Forum: General accounting and financial reporting discussion
Topic: Useful life of bitcoin machines
Replies: 10
Views: 1005

Re: Useful life of bitcoin machines

I just looked at a crypto mining company and they use 2 years due to the rate of change of technology in crypto mining . https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/MtIsxQ-fd8mrL-0GzdR9gK9Vqq-JoA6sXP3YiKGTxjE/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-C...
by JRSB
30 Jan 2024, 15:11
Forum: General accounting and financial reporting discussion
Topic: Useful life of bitcoin machines
Replies: 10
Views: 1005

Re: Useful life of bitcoin machines

ok. I think you'd need someone with knowledge of the industry to comment. maybe it gets obsolete for some technical reason, maybe they overheat after 6 months because they're on 24/7, maybe they can go for 25 years solidly.
by JRSB
29 Jan 2024, 11:44
Forum: General accounting and financial reporting discussion
Topic: Entries for fair value adjustments to consolidate
Replies: 6
Views: 1149

Re: Entries for fair value adjustments to consolidate

I think the point DanSal is that it's not really individual journals for each item, it's one consolidation journal which goodwill is effectively the balancing figure. I think looking at a worked example would be handy. The acquisition adjustments will be only at group level, the fact of being acquir...
by JRSB
24 Jan 2024, 19:17
Forum: IFRS-related topics
Topic: IFRS accounting policy choices
Replies: 6
Views: 1499

Re: IFRS accounting policy choices

If you do find one Sandrolidze, or compile one, will you post it here?
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.