Search found 3296 matches
- 28 Feb 2024, 19:05
- Forum: IFRS-related topics
- Topic: Conversion of loan to equity
- Replies: 1
- Views: 303
- 28 Feb 2024, 19:03
- Forum: IFRS-related topics
- Topic: IFRS 16- Lease Modification
- Replies: 1
- Views: 310
Re: IFRS 16- Lease Modification
Depending on the specific circumstances, lease modifications can either be accounted for as a new lease or an adjustment to the pre-existing lease. See https://ifrscommunity.com/knowledge-bas ... fications/
- 27 Feb 2024, 16:40
- Forum: IFRS-related topics
- Topic: Definition of ' Related Party'
- Replies: 7
- Views: 641
Re: Definition of ' Related Party'
Children and spouses are close family members under IAS 24.9
- 26 Feb 2024, 17:15
- Forum: IFRS-related topics
- Topic: Contra revenue vs expense
- Replies: 13
- Views: 1034
Re: Contra revenue vs expense
Can you provide more details on the nature of the arrangement and recharged expenses, Nowim?
- 26 Feb 2024, 17:13
- Forum: IFRS-related topics
- Topic: Direct equity investment - transaction price & fair value
- Replies: 10
- Views: 829
Re: Direct equity investment - transaction price & fair value
Do either of you know if AIM is regarded as an active market? I.e. 'a market in which transactions for the asset take place with sufficient frequency and volume to provide pricing information on an ongoing basis.'
- 26 Feb 2024, 17:09
- Forum: IFRS-related topics
- Topic: Common Control Business Combination?
- Replies: 4
- Views: 760
Re: Common Control Business Combination?
The best resource IMO: https://www.ifrs.org/content/dam/ifrs/p ... r-2020.pdf
- 26 Feb 2024, 17:07
- Forum: After hours
- Topic: Congratulations
- Replies: 5
- Views: 10449
Re: Congratulations
Hi Hassen, looking forward to your contributions to the community
- 23 Feb 2024, 19:21
- Forum: IFRS-related topics
- Topic: Definition of ' Related Party'
- Replies: 7
- Views: 641
Re: Definition of ' Related Party'
These companies are related, because Mr Y controls B and his close family member is a member of the key management personnel of A (IAS 24.9(b)(vii)).
- 23 Feb 2024, 11:12
- Forum: IFRS-related topics
- Topic: IAS 40 Land and buildings
- Replies: 5
- Views: 556
Re: IAS 40 Land and buildings
yes:
https://ifrscommunity.com/knowledge-bas ... -buildings
PS. Please use more descriptive topic titles, 'IAS 40' was too generic!
https://ifrscommunity.com/knowledge-bas ... -buildings
PS. Please use more descriptive topic titles, 'IAS 40' was too generic!
- 22 Feb 2024, 18:03
- Forum: IFRS-related topics
- Topic: Definition of ' Related Party'
- Replies: 7
- Views: 641
- 22 Feb 2024, 18:02
- Forum: IFRS-related topics
- Topic: IAS 12 - Deferred taxes on investment value (consolidated FS)
- Replies: 12
- Views: 862
Re: IAS 12 - Deferred taxes on investment value (consolidated FS)
How do you think the parent will realise the DTA arising on its investment in the subsidiary?
- 21 Feb 2024, 17:35
- Forum: IFRS-related topics
- Topic: Assessing who has discretion over the redemtpion of the preference shares
- Replies: 3
- Views: 397
Re: Assessing who has discretion over the redemtpion of the preference shares
The FICE ED aims to address this types of scenarios:
https://www.ifrs.org/content/dam/ifrs/p ... df#page=14
https://www.ifrs.org/content/dam/ifrs/p ... df#page=14
- 21 Feb 2024, 17:31
- Forum: IFRS-related topics
- Topic: IAS 12 - Deferred taxes on investment value (consolidated FS)
- Replies: 12
- Views: 862
Re: IAS 12 - Deferred taxes on investment value (consolidated FS)
It seems that you're confusing realisation of deferred tax assets (DTA) by the subsidiary and the parent. It's the *parent* that potentially recognises DTA for the temporary difference arising on the investment, so you should be looking at: - availability of taxable income of the *parent*, and - whe...
- 20 Feb 2024, 23:41
- Forum: IFRS-related topics
- Topic: Revenue recognition under IFRS 15
- Replies: 7
- Views: 567
Re: Revenue recognition under IFRS 15
I find the scenario confusing to be honest. B acquires A, but we don't know from whom. And as part of consideration, A (the acquiree!) provides services to B (the acquirer)...
- 20 Feb 2024, 17:50
- Forum: IFRS-related topics
- Topic: Revenue recognition under IFRS 15
- Replies: 7
- Views: 567
Re: Revenue recognition under IFRS 15
For this transaction to be in scope of IFRS 15, there also must be a customer which is defined as a party that enters into a contract with an entity to obtain goods or services resulting from the entity’s ordinary activities, in return for a consideration (IFRS 15.6).
- 19 Feb 2024, 23:52
- Forum: IFRS-related topics
- Topic: IAS 12 - Deferred taxes on investment value (consolidated FS)
- Replies: 12
- Views: 862
Re: IAS 12 - Deferred taxes on investment value (consolidated FS)
Just had a quick look, but please have a look at the section below, does it answer the question?
https://ifrscommunity.com/knowledge-bas ... rangements
https://ifrscommunity.com/knowledge-bas ... rangements
- 19 Feb 2024, 23:49
- Forum: IFRS-related topics
- Topic: Classification of Golf Course
- Replies: 4
- Views: 403
Re: Classification of Golf Course
IAS 16 for sure, you're running a golf course business
- 19 Feb 2024, 22:50
- Forum: General accounting and financial reporting discussion
- Topic: Differences in Amendments ASC 842 Vs IFRS 16
- Replies: 2
- Views: 285
Re: Differences in Amendments ASC 842 Vs IFRS 16
Moving to appropriate forum
- 19 Feb 2024, 22:49
- Forum: IFRS-related topics
- Topic: IAS 8 - Change in capitalisation threshold
- Replies: 2
- Views: 318
Re: IAS 8 - Change in capitalisation threshold
It is a change in accounting policy but its impact must be immaterial by definition and hence applied prospectively. If the impact isn't immaterial, then you shouldn't have this policy in the first place because IAS 16 / IAS 38 don't have any practical expedient regading capitalisation threshold.
- 19 Feb 2024, 22:45
- Forum: IFRS-related topics
- Topic: Leases in service areas
- Replies: 5
- Views: 460
Re: Leases in service areas
Not really
- 19 Feb 2024, 22:43
- Forum: After hours
- Topic: Excel Vlookup function
- Replies: 9
- Views: 461
Re: Excel Vlookup function
Which solution worked best for you then?
- 16 Feb 2024, 20:44
- Forum: IFRS-related topics
- Topic: Equity investments held at cost?
- Replies: 6
- Views: 392
Re: Equity investments held at cost?
When applying this exception, Level 3 disclosures aren't necessary since there's no fair value measurement recognised at the reporting date. Regarding the convertible instruments you're considering, would it be reasonable to assume that their cost approximates their fair value even after 12 months?
- 16 Feb 2024, 20:40
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 457
Re: Date of Authorization for Issue
I'm not saying that this isn't the commonly accepted practice. In the case of public companies, it's different because their final results are deemed market-sensitive information. My focus was more on the audits of privately owned companies.
- 16 Feb 2024, 20:36
- Forum: After hours
- Topic: Excel Vlookup function
- Replies: 9
- Views: 461
Re: Excel Vlookup function
For sure there is an automatic solution. But I'm not entirely clear on your question. Could you elaborate a bit more? Using example terms like 'customer' and 'outstanding balance' would help clarify your request.
- 16 Feb 2024, 11:08
- Forum: IFRS-related topics
- Topic: IFSR 16 - Prepayments
- Replies: 10
- Views: 1917
Re: IFSR 16 - Prepayments
@ramica - please start a new topic, describe the scenario, and explain what you're trying to achieve
- 15 Feb 2024, 20:39
- Forum: IFRS-related topics
- Topic: Equity investments held at cost?
- Replies: 6
- Views: 392
Re: Equity investments held at cost?
I don't think specific disclosure requirements exist for such cases. Making up these disclosures wouldn't make sense. Instead, I'd disclose that you used cost as an approximation of fair value and provide the rationale behind this decision.
- 15 Feb 2024, 20:34
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 457
Re: Date of Authorization for Issue
I guess it's better to identify any issues during the brief period when the financial statements are 'frozen', rather than missing them entirely. Just to clarify, I'm not thinking about edge cases where the auditor is involved only after the financial statements are authorised. I'm talking about a s...
- 15 Feb 2024, 20:02
- Forum: IFRS-related topics
- Topic: Equity investments held at cost?
- Replies: 6
- Views: 392
Re: Equity investments held at cost?
This could stem from practices before implementation of IFRS 9. Under IAS 39 there was a clear exception allowing equity investments whose fair value couldn't be reliably measured to be carried at cost. IFRS 9 is stricter, but still offers a bit of flexibility (see IFRS 9.B5.2.3-B5.2.6)
- 15 Feb 2024, 19:19
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 457
Re: Date of Authorization for Issue
In terms of adjusting events, or errors in the financial statements?
- 15 Feb 2024, 18:50
- Forum: IFRS-related topics
- Topic: Queries on Subleasing
- Replies: 4
- Views: 374
Re: Queries on Subleasing
Provide more details about the transaction, please