Search found 1338 matches
- 01 Apr 2020, 18:02
- Forum: IFRS-related topics
- Topic: Quarries and Extracted Minerals
- Replies: 13
- Views: 3474
Re: Quarries and Extracted Minerals
That is exploration and evaluation but presumably this was confirmed resource from the start.
- 01 Apr 2020, 17:57
- Forum: IFRS-related topics
- Topic: Goodwill, impairment and a different IASB.
- Replies: 21
- Views: 5978
Re: Goodwill, impairment and a different IASB.
Agree but most companies I review don't bother. Which means it lingers for ever.
- 01 Apr 2020, 17:48
- Forum: IFRS-related topics
- Topic: Goodwill, impairment and a different IASB.
- Replies: 21
- Views: 5978
Re: Goodwill, impairment and a different IASB.
I would like companies to have to decide and disclose what the goodwill actually represents, rather than an unknown benefit ascribed to overall general benefits. This could have the effect of bringing staff skills on to the balance sheet, but if that's what you pay an excess for then so be it. Audit...
- 01 Apr 2020, 17:45
- Forum: IFRS-related topics
- Topic: Quarries and Extracted Minerals
- Replies: 13
- Views: 3474
Re: Quarries and Extracted Minerals
What was the accounting since 1990? Need more info but presumably the original purchase was an intangible (right to extract) which is amortised in line with resource estimates. Or did it buy the land including the quarry outright? Is there an obligation to rehabilitate the land once the quarry is ex...
- 26 Mar 2020, 16:53
- Forum: IFRS-related topics
- Topic: IFRS 16: Commitment to renew lease
- Replies: 7
- Views: 2262
Re: IFRS 16: Commitment to renew lease
I guess the date of commitment would be the date of signature by both parties unless there another convention in your legal jurisdiction.
- 26 Mar 2020, 16:51
- Forum: IFRS-related topics
- Topic: IFRS 16: Commitment to renew lease
- Replies: 7
- Views: 2262
Re: IFRS 16: Commitment to renew lease
Has it been made available for your use, even if you haven't occupied it yet?
- 19 Mar 2020, 17:56
- Forum: IFRS-related topics
- Topic: IFRS 5 - Involuntary loss of significant influence and 'held for sale' classification
- Replies: 11
- Views: 2732
Re: IFRS 5 - Involuntary loss of significant influence and 'held for sale' classification
From what you said it is not 'held for sale' in the sense of the English language (nor in the standard's sense).
- 17 Mar 2020, 09:12
- Forum: IFRS-related topics
- Topic: COVID2O19
- Replies: 12
- Views: 2901
Re: COVID2O19
I'd think you'd want to say the potential impact on the funds, in light of the short term impact, possibly 20-30% down already...
- 16 Mar 2020, 23:27
- Forum: IFRS-related topics
- Topic: COVID2O19
- Replies: 12
- Views: 2901
Re: COVID2O19
I would think it needs some specifics about the potential impacts. Downturn in short term demand? Supply issues? Staff working from home affecting production/client service? Suspension of short term development plans? Comments about the company's policy to protect stakeholders, staff, etc? Very diff...
- 16 Mar 2020, 16:08
- Forum: IFRS-related topics
- Topic: COVID2O19
- Replies: 12
- Views: 2901
Re: COVID2O19
On the original question, no I don't think you can have sample wording because it is going to be very specific to each company's circumstances. Yes I think that in most cases (for a December year end) it's narrative around risks and future impacts, however not adjusting unless there are supply chain...
- 16 Mar 2020, 13:51
- Forum: IFRS-related topics
- Topic: IFRS 2: Using buy-back shares as shares based payment
- Replies: 6
- Views: 1851
Re: IFRS 2: Using buy-back shares as shares based payment
Held by an employee benefit trust outside the control of the group? Therefore not treasury.
- 16 Mar 2020, 13:50
- Forum: IFRS-related topics
- Topic: COVID2O19
- Replies: 12
- Views: 2901
Re: COVID2O19
FRC (UK): The extent of the risk and the degree to which it might crystallise depends on companies’ specific business circumstances. These could include, for example, extensive operations or manufacturing in China, with consequential staff shortages and production delays. Other entities might not ha...
- 09 Mar 2020, 13:06
- Forum: IFRS-related topics
- Topic: IFRS 16 Legal
- Replies: 3
- Views: 1137
Re: IFRS 16 Legal
The asset includes 'initial direct costs'. These are: Incremental costs of obtaining a lease that would not have been incurred if the lease had not been obtained, except for such costs incurred by a manufacturer or dealer lessor in connection with a finance lease. If the legal fees relate to negotia...
- 09 Mar 2020, 10:56
- Forum: IFRS-related topics
- Topic: IFRS 10
- Replies: 2
- Views: 976
Re: IFRS 10
I would have thought it was best done in a bespoke manner as any template would have to be completely revised any way!
- 02 Mar 2020, 15:42
- Forum: IFRS-related topics
- Topic: Common control transactions
- Replies: 24
- Views: 5282
Re: Common control transactions
We are only worried about NCI where it is in a subsidiary -we don't worry about having different shareholders at NewCo level in the NewCo financial reporting?
- 02 Mar 2020, 15:24
- Forum: IFRS-related topics
- Topic: Common control transactions
- Replies: 24
- Views: 5282
Re: Common control transactions
We have had exactly this scenario recently and as you say IFRS doesn't specify so you go by the IFRS rules in this case: - consider similar transactions - does not really apply here - consider the conceptual framework , including other accounting standards So the most relevant and reliable accountin...
- 02 Mar 2020, 13:15
- Forum: IFRS-related topics
- Topic: Common control transactions
- Replies: 24
- Views: 5282
Re: Common control transactions
The IASB are discussing a new standard on this topic.
Where there is no change in control or the fundamental activity of the group before and after, in effect you can just ignore the reorganisation and present all periods as though the newco at the top going in didn't happen.
Where there is no change in control or the fundamental activity of the group before and after, in effect you can just ignore the reorganisation and present all periods as though the newco at the top going in didn't happen.
- 02 Mar 2020, 10:51
- Forum: IFRS-related topics
- Topic: IAS 16 (Derecognition of PPE in production)
- Replies: 4
- Views: 1459
Re: IAS 16 (Derecognition of PPE in production)
Presumably there are insurance proceeds to recognise too?