Search found 1343 matches
- 19 Feb 2024, 10:21
- Forum: IFRS-related topics
- Topic: Classification of Golf Course
- Replies: 4
- Views: 408
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: 467
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: 467
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: 467
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: 651
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...
- 14 Feb 2024, 18:43
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 467
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?
- 14 Feb 2024, 18:39
- Forum: IFRS-related topics
- Topic: Equity method exemptions
- Replies: 18
- Views: 1339
Re: Equity method exemptions
in my experience of french administration, 19th century sounds about right. the amount of payroll deductions all with different rules.....
- 14 Feb 2024, 18:37
- Forum: IFRS-related topics
- Topic: Souscription of preference shares after closing
- Replies: 12
- Views: 651
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?
- 14 Feb 2024, 13:25
- Forum: IFRS-related topics
- Topic: Equity method exemptions
- Replies: 18
- Views: 1339
Re: Equity method exemptions
Am I right to say that France has a mandated 'chart of accounts'? In which case that would explain it.
- 14 Feb 2024, 13:23
- Forum: IFRS-related topics
- Topic: Souscription of preference shares after closing
- Replies: 12
- Views: 651
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.
- 14 Feb 2024, 12:18
- Forum: General accounting and financial reporting discussion
- Topic: Date of Authorization for Issue
- Replies: 11
- Views: 467
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...
- 14 Feb 2024, 12:15
- Forum: IFRS-related topics
- Topic: Equity method exemptions
- Replies: 18
- Views: 1339
Re: Equity method exemptions
some fairly sizeable organisations use spreadsheets for consolidation in the UK, I wonder if it differs elsewhere.
- 14 Feb 2024, 12:11
- Forum: IFRS-related topics
- Topic: Souscription of preference shares after closing
- Replies: 12
- Views: 651
Re: Souscription of preference shares after closing
seems like a fine line between this and simple unpaid share capital.
- 14 Feb 2024, 12:07
- Forum: IFRS-related topics
- Topic: ROU asset de-recognition on sub lease
- Replies: 3
- Views: 315
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.
- 14 Feb 2024, 12:02
- Forum: IFRS-related topics
- Topic: IAS 36 Decision tree in the Knowledge Base
- Replies: 8
- Views: 463
Re: IAS 36 Decision tree in the Knowledge Base
How do you know that asset is impaired?
- 07 Feb 2024, 19:21
- Forum: IFRS-related topics
- Topic: Business Combination under Common Control?
- Replies: 5
- Views: 252
Re: Business Combination under Common Control?
Yes most likely, other impacts depend on how the restructure was achieved.
- 07 Feb 2024, 14:05
- Forum: IFRS-related topics
- Topic: Business Combination under Common Control?
- Replies: 5
- Views: 252
Re: Business Combination under Common Control?
correct. but there is impact in standalone accounts.
- 07 Feb 2024, 11:46
- Forum: IFRS-related topics
- Topic: Data Migration
- Replies: 2
- Views: 190
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.
- 07 Feb 2024, 11:45
- Forum: IFRS-related topics
- Topic: IAS 36 Value in Use vs Fair Value Using Income Approach
- Replies: 5
- Views: 483
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.
But a bit clearer now.
- 06 Feb 2024, 11:22
- Forum: IFRS-related topics
- Topic: Regulated prices
- Replies: 6
- Views: 382
Re: Regulated prices
As in "Rate Regulated Activities"?
- 05 Feb 2024, 18:30
- Forum: IFRS-related topics
- Topic: IAS 36 Value in Use vs Fair Value Using Income Approach
- Replies: 5
- Views: 483
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...
- 04 Feb 2024, 15:12
- Forum: IFRS-related topics
- Topic: IAS 36 Value in Use vs Fair Value Using Income Approach
- Replies: 5
- Views: 483
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...
- 04 Feb 2024, 15:08
- Forum: General accounting and financial reporting discussion
- Topic: Deferred tax in business combinations
- Replies: 7
- Views: 877
- 02 Feb 2024, 17:56
- Forum: IFRS-related topics
- Topic: Financial guarantee
- Replies: 19
- Views: 1283
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.
- 02 Feb 2024, 12:33
- Forum: IFRS-related topics
- Topic: Financial guarantee
- Replies: 19
- Views: 1283
- 02 Feb 2024, 11:34
- Forum: IFRS-related topics
- Topic: IFRS 3 - Contingent consideration (Earn-Out) - seller side accounting
- Replies: 4
- Views: 637
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.
- 01 Feb 2024, 20:01
- Forum: IFRS-related topics
- Topic: IFRS 3 - Contingent consideration (Earn-Out) - seller side accounting
- Replies: 4
- Views: 637
Re: IFRS 3 - Contingent consideration (Earn-Out) - seller side accounting
FVTPL based on forecasts at the reporting date
- 01 Feb 2024, 16:20
- Forum: IFRS-related topics
- Topic: Financial guarantee
- Replies: 19
- Views: 1283
Re: Financial guarantee
Very generous to do that for an associate!
- 31 Jan 2024, 18:35
- Forum: General accounting and financial reporting discussion
- Topic: Accounting AI Software Startup question
- Replies: 4
- Views: 833
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.
- 30 Jan 2024, 16:55
- Forum: General accounting and financial reporting discussion
- Topic: Useful life of bitcoin machines
- Replies: 10
- Views: 1272
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...