Search found 1338 matches
- 28 Feb 2024, 11:04
- Forum: IFRS-related topics
- Topic: IAS 16 - PPE transfer to Inventory
- Replies: 7
- Views: 639
Re: IAS 16 - PPE transfer to Inventory
lower of cost and net realisable amount.
- 27 Feb 2024, 18:23
- Forum: IFRS-related topics
- Topic: Direct equity investment - transaction price & fair value
- Replies: 10
- Views: 829
Re: Direct equity investment - transaction price & fair value
I don't think an auditor will go for that for an AIM quoted equity
- 27 Feb 2024, 18:22
- Forum: IFRS-related topics
- Topic: Direct equity investment - transaction price & fair value
- Replies: 10
- Views: 829
Re: Direct equity investment - transaction price & fair value
you could use another valuation technique like cost, NAV or discounted cash flow or most recent fundraise or something
- 27 Feb 2024, 11:28
- Forum: IFRS-related topics
- Topic: Definition of ' Related Party'
- Replies: 7
- Views: 641
Re: Definition of ' Related Party'
Parent and child are not close family?
- 26 Feb 2024, 19:23
- Forum: IFRS-related topics
- Topic: Direct equity investment - transaction price & fair value
- Replies: 10
- Views: 829
Re: Direct equity investment - transaction price & fair value
Yes I'd think generally AIM would be L1 but I can see counterarguments depending on which company. Some people might hold at using other approaches.
- 25 Feb 2024, 15:33
- Forum: IFRS-related topics
- Topic: Contra revenue vs expense
- Replies: 13
- Views: 1036
Re: Contra revenue vs expense
If you have an agreement with a supplier to buy something, and then charge that to your own customer later, it's no different to the other costs going into the provision of the service. Revenue and other side cost of sales. There may be specific scenarios where you are the agent or something but wou...
- 25 Feb 2024, 15:15
- Forum: IFRS-related topics
- Topic: Contra revenue vs expense
- Replies: 13
- Views: 1036
Re: Contra revenue vs expense
As in disbursements that you incur and then charge to the customer?
- 25 Feb 2024, 14:20
- Forum: IFRS-related topics
- Topic: Contra revenue vs expense
- Replies: 13
- Views: 1036
Re: Contra revenue vs expense
IFRS 15.47
- 25 Feb 2024, 14:18
- Forum: IFRS-related topics
- Topic: Contra revenue vs expense
- Replies: 13
- Views: 1036
Re: Contra revenue vs expense
Do you mean discounts given to customers? IFRS 15 tells you revenue is net of discounts. Therefore a discount is not an expense.
Is that what you mean?
Is that what you mean?
- 25 Feb 2024, 14:16
- Forum: IFRS-related topics
- Topic: Common Control Business Combination?
- Replies: 4
- Views: 762
Re: Common Control Business Combination?
yes
up to you
none
up to you
none
- 25 Feb 2024, 14:14
- Forum: IFRS-related topics
- Topic: Direct equity investment - transaction price & fair value
- Replies: 10
- Views: 829
Re: Direct equity investment - transaction price & fair value
yes but maybe elect as PLOCI given the volatility expected?
- 24 Feb 2024, 23:04
- Forum: After hours
- Topic: Congratulations
- Replies: 5
- Views: 10452
Re: Congratulations
Hi Hassen
- 24 Feb 2024, 23:02
- Forum: IFRS-related topics
- Topic: Direct equity investment - transaction price & fair value
- Replies: 10
- Views: 829
Re: Direct equity investment - transaction price & fair value
The price you actually pay. Common for AIM companies to issue shares below the traded price when fundraising; there can be limited liquidity and volatility can be high. Price might spike when your investment is announced but doesn't mean you'd be able to offload your holding at that elevated price e...
- 23 Feb 2024, 10:52
- Forum: IFRS-related topics
- Topic: IAS 40 Land and buildings
- Replies: 5
- Views: 556
Re: IAS 40
yes. why did you choose the cost model? always seems odd as you have to disclose the fair value anyway.
- 22 Feb 2024, 13:43
- Forum: IFRS-related topics
- Topic: Definition of ' Related Party'
- Replies: 7
- Views: 641
Re: Definition of ' Related Party'
What's your reading of the standard?
- 21 Feb 2024, 11:17
- Forum: IFRS-related topics
- Topic: Revenue recognition under IFRS 15
- Replies: 7
- Views: 567
Re: Revenue recognition under IFRS 15
Oh I thought C acquires B but A 'pays' for it in services.
- 20 Feb 2024, 18:00
- Forum: IFRS-related topics
- Topic: Revenue recognition under IFRS 15
- Replies: 7
- Views: 567
Re: Revenue recognition under IFRS 15
If wonder if the cost of providing those specific services is actually a distribution, as the owner is extracting that value to settle their liability (to acquire B). I assume A and C have common ownership.
- 20 Feb 2024, 14:41
- Forum: IFRS-related topics
- Topic: Revenue recognition under IFRS 15
- Replies: 7
- Views: 567
Re: Revenue recognition under IFRS 15
So A signs a contract where it performs services and gets nothing in return. So it's not revenue as the scope of IFRS 15 requires commercial substance.
- 20 Feb 2024, 11:44
- Forum: IFRS-related topics
- Topic: Revenue recognition under IFRS 15
- Replies: 7
- Views: 567
Re: Revenue recognition under IFRS 15
Why would A do this? Seems like the owner of A is extracting value in 'services' for its own purposes.
- 20 Feb 2024, 10:54
- 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
I'm not sure if there are any US-based posters on this forum
- 19 Feb 2024, 18:25
- 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)
The earn out was not recognised as a liability? It should have been recorded at fair value. Maybe it was a stretch target recorded at nil? It will increase goodwill accordingly once paid later? Only if it's a measurement period adjustment, otherwise that should be to P&L. May be worth looking at...
- 19 Feb 2024, 12:05
- Forum: IFRS-related topics
- Topic: Classification of Golf Course
- Replies: 4
- Views: 403
Re: Classification of Golf Course
Seems like PPE to me.
- 19 Feb 2024, 10:26
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 458
Re: Date of Authorization for Issue
I would have the same view. Either the audit is finished or it isn't; if it isn't, then management shouldn't be signing. If it is, the auditor should be ready to sign.
- 19 Feb 2024, 10:24
- Forum: IFRS-related topics
- Topic: IAS 8 - Change in capitalisation threshold
- Replies: 2
- Views: 318
Re: IAS 8 - Change in capitalisation threshold
I would say it's not a policy; as the business grows in size your threshold might increase too but I don't see restatements as necessary; presumably the impact is almost by definition immaterial too.
- 19 Feb 2024, 10:23
- 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)
a bit confusing because the investment in subsidiary is nothing to do with the consolidated financial statements, but if that entity was acquired in a business combination then maybe you have DT movements on group level intangibles.
- 19 Feb 2024, 10:21
- Forum: IFRS-related topics
- Topic: Classification of Golf Course
- Replies: 4
- Views: 403
Re: Classification of Golf Course
Do you let it out the golf facilities someone else to operate for a period of time, or operate them yourself?
- 15 Feb 2024, 22:34
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 458
Re: Date of Authorization for Issue
Just checked Shell plc (most valuable UK company) as an example and management signed on same date as auditor. Gap is technically fine but we've seen issues in one of the recent big FRC penalties where the partner got into problems when backdating the audit report in an effort to reduce the gap betw...
- 15 Feb 2024, 20:24
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 458
Re: Date of Authorization for Issue
Anything which could affect the accounts which have already been signed by management.
- 15 Feb 2024, 19:18
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 458
Re: Date of Authorization for Issue
Ok but what are you going to do if any issues come up in those few days?
- 14 Feb 2024, 20:22
- Forum: IFRS-related topics
- Topic: Souscription of preference shares after closing
- Replies: 12
- Views: 650
Re: Souscription of preference shares after closing
I looked at it slightly different, ie instead of subscribing for shares now and just leaving the liability unpaid, the alternative is simply an agreement to subscribe for shares in the future, so you don't have the shares now, nor the liability to pay for them, until say 2 years. Then yes that seems...