Search found 3226 matches
- 14 Feb 2024, 16:39
- Forum: IFRS-related topics
- Topic: Employee Benefits- current service costs
- Replies: 3
- Views: 266
Re: Employee Benefits- current service costs
No, changes in actuarial assumptions are reflected as one-time adjustments to the liability, whereas current service cost reflects benefits earned in current period. https://ifrscommunity.com/knowledge-base/ias-19-employee-benefits/#actuarial-gains-and-losses https://ifrscommunity.com/knowledge-base...
- 14 Feb 2024, 16:36
- Forum: IFRS-related topics
- Topic: Relevant decisions are predetermined in a lease
- Replies: 5
- Views: 360
Re: Relevant decisions are predetermined in a lease
Through contractual provisions for example
PS. don't quote preceding posts please https://ifrscommunity.com/ifrs-forum-qu ... in-replies
PS. don't quote preceding posts please https://ifrscommunity.com/ifrs-forum-qu ... in-replies
- 14 Feb 2024, 16:32
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 183
- 13 Feb 2024, 23:18
- 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
If asset X doesn't generate independent cash inflows then you're not able to determine its value in use and recognise impairment the way you illustrated in your scenario.
- 13 Feb 2024, 18:50
- Forum: IFRS-related topics
- Topic: Overhauling the fully depreciated Assets
- Replies: 4
- Views: 129
Re: Overhauling the fully depreciated Assets
https://ifrscommunity.com/knowledge-base/cost-of-property-plant-equipment/#costs-of-major-inspections-or-overhauls When assets are fully depreciated, their carrying value and remaining useful life both drop to zero. But significant events like major inspections or overhauls warrant a re-evaluation ...
- 13 Feb 2024, 18:22
- 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
Your scenario is a bit unclear to me. Could you clarify if asset X generates independent cash inflows? Also, I'm curious as to why you brought up CGUs B and C and goodwill if they aren't relevant to asset X, which seems to be the main focus of your question?
- 13 Feb 2024, 17:34
- Forum: IFRS-related topics
- Topic: Queries on Subleasing
- Replies: 4
- Views: 282
Re: Queries on Subleasing
a. Don't think this is covered, but I'd say yes
b. No, lessors must always use the interest rate implicit in the lease.
c. yes
@ Viv, please start a new topic please
b. No, lessors must always use the interest rate implicit in the lease.
c. yes
@ Viv, please start a new topic please
- 13 Feb 2024, 17:31
- Forum: IFRS-related topics
- Topic: Overhauling the fully depreciated Assets
- Replies: 4
- Views: 129
Re: Overhauling the fully depreciated Assets
There are two distinct questions here: 1. Is this expenditure eligible to be included in the carrying amount of the associated asset? 2. Assuming it is, should the entity reassess the asset's remaining useful life? If the response to the first question is 'no', the expenditure is instantly recognise...
- 13 Feb 2024, 17:26
- Forum: IFRS-related topics
- Topic: IAS 12.4A Pillar Two reform
- Replies: 6
- Views: 591
Re: IAS 12.4A Pillar Two reform
How is this different from the general exclusion of Pillar Two taxes from DTA/DTL calculation?
- 13 Feb 2024, 17:24
- Forum: IFRS-related topics
- Topic: IFRS 16 interaction with IAS 36
- Replies: 1
- Views: 85
Re: IFRS 16 interaction with IAS 36
Recognised liabilities should be excluded from impairment tests based on ViU (the point about a buyer not assuming the liability is irrelevant here). If inclusion of recognised liabilities is necessary for operational reasons, ensure that cash flows related to their repayment are discounted using th...
- 13 Feb 2024, 16:58
- Forum: IFRS-related topics
- Topic: Relevant decisions are predetermined in a lease
- Replies: 5
- Views: 360
Re: Relevant decisions are predetermined in a lease
To me, operating a truck means driving a truck. Application of this criterion is also illustrated in Example 9—Contract for energy/power
- 13 Feb 2024, 16:54
- Forum: IFRS-related topics
- Topic: Recognition of rights issues
- Replies: 1
- Views: 100
Re: Recognition of rights issues
I agree that these won't be recognised in financial statements. I recall there was an amendment to IAS 32 concerning rights issues issued in 2009. A bit of online research might turn up some insightful technical discussions from that time (please share here if you find something interesting).
- 13 Feb 2024, 16:40
- Forum: IFRS-related topics
- Topic: Leases in service areas
- Replies: 5
- Views: 364
Re: IFRS 16 Leases
This is IFRS Community, not Marek's inbox
Sure, let's discuss these scenarios, please describe them.
- 13 Feb 2024, 16:39
- Forum: IFRS-related topics
- Topic: Investment in Beneficiary Trust
- Replies: 3
- Views: 118
Re: Investment in Beneficiary Trust
Then IFRS 12 applies: https://ifrscommunity.com/knowledge-bas ... d-entities
- 13 Feb 2024, 16:38
- Forum: IFRS-related topics
- Topic: office floor in a building taken on rent (IFRS 16)
- Replies: 3
- Views: 169
Re: office floor in a building taken on rent (IFRS 16)
Sorry, fixed the link.
Depreciation starts from 1 June
Depreciation starts from 1 June
- 13 Feb 2024, 16:37
- Forum: IFRS-related topics
- Topic: Business Combination under Common Control?
- Replies: 5
- Views: 169
Re: Business Combination under Common Control?
That's a typical BCUCC scenario
- 09 Feb 2024, 20:08
- Forum: IFRS-related topics
- Topic: Relevant decisions are predetermined in a lease
- Replies: 5
- Views: 360
Re: Relevant decisions are predetermined in a lease
Please provide more details about the particular asset you're looking into
- 09 Feb 2024, 17:44
- Forum: IFRS-related topics
- Topic: IAS 10 Adjusting events & IAS 28 Investments in JV
- Replies: 3
- Views: 216
Re: IFRS 10 Adjusting events & IAS 28 Investments in JV
It seems that IAS 10 isn't even relevant here since there's no specific 'event' occurring after the reporting date. You're simply refining your estimates during the preparation of financial statements at the reporting date.
- 09 Feb 2024, 17:40
- Forum: IFRS-related topics
- Topic: Investment in Beneficiary Trust
- Replies: 3
- Views: 118
Re: Investment in Beneficiary Trust
What's the nature of Company A's interest in this trust company? Does this trust company that your company invested in qualify as a subsidiary, a joint arrangement (joint operation or joint venture), associate, or an unconsolidated structured entity from A's perspective?
- 09 Feb 2024, 17:33
- Forum: IFRS-related topics
- Topic: Impairment loss in conoslidated and separate FS
- Replies: 3
- Views: 156
Re: Impairment loss in conoslidated and separate FS
Refer to the link I shared in previous post and feel free to share your analysis for our assessment.
- 09 Feb 2024, 17:32
- Forum: IFRS-related topics
- Topic: Data Migration
- Replies: 2
- Views: 127
- 09 Feb 2024, 17:28
- Forum: IFRS-related topics
- Topic: Souscription of preference shares after closing
- Replies: 12
- Views: 508
- 09 Feb 2024, 17:27
- Forum: IFRS-related topics
- Topic: office floor in a building taken on rent (IFRS 16)
- Replies: 3
- Views: 169
Re: office floor in a building taken on rent (IFRS 16)
1. Yes, it appears so. Refer to https://ifrscommunity.com/knowledge-bas ... ease-term/
2. 1 June 2022: https://ifrscommunity.com/knowledge-bas ... ement-date
2. 1 June 2022: https://ifrscommunity.com/knowledge-bas ... ement-date
- 09 Feb 2024, 12:10
- Forum: IFRS-related topics
- Topic: IRS - HEDGE Documentation
- Replies: 5
- Views: 1999
Re: IRS - HEDGE Documentation
Appendix: Hedge documentation template in https://www.pwc.com/hu/hu/szolgaltatasok/ifrs/ifrs_9/ifrs9_kiadvanyok/achieving_hedge_accounting_in_practice_under_ifrs9.pdf#page=230 And illustrative extracts for a specific transactions are given as part of 'Detailed illustrations' within the publication a...
- 07 Feb 2024, 17:00
- Forum: IFRS-related topics
- Topic: Regulated prices
- Replies: 6
- Views: 290
Re: Regulated prices
Are you getting any refunds from the government? If not, why are you continuing to sell locally at a loss?
- 06 Feb 2024, 23:25
- Forum: IFRS-related topics
- Topic: Equity method exemptions
- Replies: 18
- Views: 1108
Re: Equity method exemptions
Is your parent using any consolidation software? These types of software generally support equity method accounting, which should eliminate the need for manual effort.
- 06 Feb 2024, 20:54
- Forum: IFRS-related topics
- Topic: Impairment loss in conoslidated and separate FS
- Replies: 3
- Views: 156
Re: Impairment loss in conoslidated and separate FS
Does this subsidiary generate independent cash inflows? Is it a separate CGU in consolidated financial statements?
https://ifrscommunity.com/knowledge-bas ... statements
https://ifrscommunity.com/knowledge-bas ... statements
- 06 Feb 2024, 20:50
- Forum: IFRS-related topics
- Topic: IAS 10 Adjusting events & IAS 28 Investments in JV
- Replies: 3
- Views: 216
Re: IFRS 10 Adjusting events & IAS 28 Investments in JV
You should recognise the best estimate of the purchase price at the reporting date, i.e. using information available up to the authorisation of financial statements. What exactly does this uncertainty relate to?
PS. IAS 10 deals with events after the reporting period, not IFRS 10
PS. IAS 10 deals with events after the reporting period, not IFRS 10
- 06 Feb 2024, 20:44
- Forum: IFRS-related topics
- Topic: Regulated prices
- Replies: 6
- Views: 290
Re: Regulated prices
Look into IFRS 14 and the IASB's project: https://www.ifrs.org/content/dam/ifrs/p ... an2021.pdf
Could you share details about the price regulation system your company operates under?
Could you share details about the price regulation system your company operates under?
- 06 Feb 2024, 20:41
- Forum: IFRS-related topics
- Topic: Equity method exemptions
- Replies: 18
- Views: 1108
Re: Equity method exemptions
The exemption in IAS 27.8 is optional so you could prepare two sets of financial statements: separate under IAS 27 and 'economic interest' under IAS 28. But if the goal is for you to account for the associates using the equity method, you can prepare only the separate financial statements and opt fo...