Search found 1309 matches

by JRSB
09 Aug 2023, 12:46
Forum: IFRS-related topics
Topic: IAS 38 and non-compete agreements
Replies: 2
Views: 1602

Re: IAS 38 and non-compete agreements

Yes if it meets the definition of an intangible asset, I see GT has the warning..: "Non-compete agreements may sometimes be legally enforceable but of little economic substance – the counterparty may for example be restricted from competing by other means (eg copyrights or otherwise protected t...
by JRSB
07 Aug 2023, 13:18
Forum: General accounting and financial reporting discussion
Topic: IBR
Replies: 2
Views: 11918

Re: IBR

I'd agree with that. Maybe your business is largely financed by debt so it's the same thing.
by JRSB
04 Aug 2023, 18:05
Forum: IFRS-related topics
Topic: Lease for nil consideration
Replies: 16
Views: 13369

Re: Lease for nil consideration

Is it because it's provided by a related party?
by JRSB
03 Aug 2023, 18:43
Forum: IFRS-related topics
Topic: Internal transfer of assets vs conso impact
Replies: 4
Views: 2612

Re: Internal transfer of assets vs conso impact

Nice idea Leo, to generate some group balance sheet value from nowhere :)
by JRSB
19 Jul 2023, 23:20
Forum: IFRS-related topics
Topic: Accounting for House Plants
Replies: 3
Views: 1867

Re: Accounting for House Plants

Are you perhaps in scope of https://www.iasplus.com/en/standards/ias/ias41 if you are growing them and not just reselling?
by JRSB
12 Jul 2023, 13:52
Forum: IFRS-related topics
Topic: Grant from non-government institution
Replies: 5
Views: 3055

Re: Grant from non-government institution

'At this point in time', is it a potential investor then?
by JRSB
12 Jul 2023, 10:26
Forum: IFRS-related topics
Topic: Grant from non-government institution
Replies: 5
Views: 3055

Re: Grant from non-government institution

Same question was raised on another thread, if I can find it....

What did the counterparty get in return? Was it a charity?
by JRSB
11 Jul 2023, 18:53
Forum: IFRS-related topics
Topic: Effect of transition impact for IFRS 17 - Example
Replies: 1
Views: 3102

Effect of transition impact for IFRS 17 - Example

In case of interest to any readers this was the first IFRS 17 transition analysis I've seen on the stock market. Just Group plc. https://www.londonstockexchange.com/news-article/JUST/ifrs-17-fy-2022-and-h1-22-restatement/16035039 Effect of transition to IFRS 17 Under IFRS 17 total economic profits d...
by JRSB
11 Jul 2023, 10:18
Forum: IFRS-related topics
Topic: Equity investment going concern issues
Replies: 3
Views: 4352

Re: Equity investment going concern issues

is that any different to other changes in fair value from time to time?
by JRSB
07 Jul 2023, 20:02
Forum: IFRS-related topics
Topic: Performance bonds
Replies: 45
Views: 51157

Re: Performance bonds

by JRSB
07 Jul 2023, 17:51
Forum: IFRS-related topics
Topic: Inventory Sale and repurchase...de-recognition?
Replies: 52
Views: 37316

Re: Inventory Sale and repurchase...de-recognition?

Update... this company has only undertaken 2 such 'inventory monetisation' transactions, even nearly 3 years later. It constantly says it has massive contracts 'in the pipeline'. Still remains to be seen if it 'works'. Audited by Crowe UK currently.
by JRSB
03 Jul 2023, 17:05
Forum: IFRS-related topics
Topic: Debt buying booking model
Replies: 4
Views: 3020

Re: Debt buying booking model

Sounds like you're buying bad debt, are you?
by JRSB
03 Jul 2023, 17:04
Forum: IFRS-related topics
Topic: Performance bonds
Replies: 45
Views: 51157

Re: Performance bonds

What are the exact arrangements? If it's just a requirement that a certain cash amount be deposited in a bank account under the terms of a contract then it's cash , perhaps restricted cash, or may it's more like an escrow accounts, or even held by the counterparty, etc, maybe it could be various dif...
by JRSB
30 Jun 2023, 17:06
Forum: IFRS-related topics
Topic: Presentation of non-current / current portion of liability.
Replies: 9
Views: 2245

Re: Presentation of non-current / current portion of liability.

ok so isn't zero of it current then since you only have to repay interest which hasn't been accrued yet.
by JRSB
30 Jun 2023, 13:48
Forum: IFRS-related topics
Topic: Presentation of non-current / current portion of liability.
Replies: 9
Views: 2245

Re: Presentation of non-current / current portion of liability.

ok I missed that from the initial post. so the actual contractual cash payments in the next 12 months are just of interest? or are there no actual payments in the next 12 months, only interest accruing?
by JRSB
30 Jun 2023, 11:31
Forum: IFRS-related topics
Topic: Presentation of non-current / current portion of liability.
Replies: 9
Views: 2245

Re: Presentation of non-current / current portion of liability.

I always took it as if you map out the amortised cost working up to point it resolves to zero, then take the carrying value a year forward from year end and the difference is the current portion because in a year's time that's what the remaining carrying value will be.
by JRSB
30 Jun 2023, 00:02
Forum: General accounting and financial reporting discussion
Topic: Redemption of Preference shares & Distributable reserves
Replies: 9
Views: 14665

Re: Redemption of Preference shares & Distributable reserves

In which case maybe there's no solution other than to be careful before issuing that kind of instrument?
by JRSB
30 Jun 2023, 00:01
Forum: IFRS-related topics
Topic: Deferred signing bonus
Replies: 9
Views: 7802

Re: Deferred signing bonus

IAS 19, para 20-23 perhaps?

Is it 'all or nothing', or does he keep any amounts already paid if leaves?
by JRSB
29 Jun 2023, 23:53
Forum: General accounting and financial reporting discussion
Topic: Redemption of Preference shares & Distributable reserves
Replies: 9
Views: 14665

Re: Redemption of Preference shares & Distributable reserves

ok well perhaps before you even get to that point you have to default on the interest since the preference share dividend (accounted as interest) requires distributable reserves too
by JRSB
29 Jun 2023, 19:40
Forum: General accounting and financial reporting discussion
Topic: Redemption of Preference shares & Distributable reserves
Replies: 9
Views: 14665

Re: Redemption of Preference shares & Distributable reserves

Yes I'm familiar with it but I don't understand the starting point of how your liability interacts with retained earnings or why it has anything to do with a capital redemption. However, I think we're miles apart!
by JRSB
29 Jun 2023, 11:52
Forum: General accounting and financial reporting discussion
Topic: Redemption of Preference shares & Distributable reserves
Replies: 9
Views: 14665

Re: Redemption of Preference shares & Distributable reserves

That's a 173 page document about distributable reserves... I mean why would an instrument which is a liability impact retained earnings?
by JRSB
28 Jun 2023, 13:34
Forum: General accounting and financial reporting discussion
Topic: Redemption of Preference shares & Distributable reserves
Replies: 9
Views: 14665

Re: Redemption of Preference shares & Distributable reserves

If the shares are treated as liabilities, why does a capital redemption reserve and impact on retained earnings arise when repaid?
by JRSB
28 Jun 2023, 13:31
Forum: IFRS-related topics
Topic: Acquiree accounting
Replies: 2
Views: 1183

Re: Acquiree accounting

There's likely no impact other than the controlling party note, as you say. Was there any other term in the acquisition, eg cancelling debt with the former owner or other things that might need to be reflected?
by JRSB
27 Jun 2023, 17:21
Forum: General accounting and financial reporting discussion
Topic: Charitable Trust Consolidation Query
Replies: 4
Views: 12005

Re: Charitable Trust Consolidation Query

In which case it sounds like it shouldn't be consolidated as there is no practical ability of the group to control the charity (I assume the management company doesn't appoint the group's Board as trustees...).
by JRSB
27 Jun 2023, 11:22
Forum: General accounting and financial reporting discussion
Topic: Charitable Trust Consolidation Query
Replies: 4
Views: 12005

Re: Charitable Trust Consolidation Query

Sounds like, in practice, the group can control the activities of the charity given they are the only trustee (or they provide all of the directors/trustees). If the intention was it was separately managed then why didn't they put in independent trustees etc...
by JRSB
17 Jun 2023, 14:23
Forum: General accounting and financial reporting discussion
Topic: Inventory revaluation
Replies: 1
Views: 10808

Re: Inventory revaluation

In the sense of assessing the net realisble value and impairing where lower? I guess it depends if you're operating on slim margins and often find that inventory needs to be written down and therefore it's needed for inclusion in accurate management reporting. If not then once a year would do. I'm s...
by JRSB
14 Jun 2023, 17:14
Forum: IFRS-related topics
Topic: Going away from IFRS and adopting LOCAL GAAP
Replies: 4
Views: 1051

Re: Going away from IFRS and adopting LOCAL GAAP

Won't the transition rules be in your new gaap rather than IFRS?
by JRSB
11 Jun 2023, 22:48
Forum: IFRS-related topics
Topic: Deferred Tax - NON CURRENT
Replies: 10
Views: 2900

Re: Deferred Tax - NON CURRENT

Marek Muc wrote: 11 Jun 2023, 20:55
JRSB wrote: 11 Jun 2023, 19:42 Small point but I thought it could be current if it otherwise it was the only non-current liability. Maybe I dreamt it.
I'm pretty sure such an exception doesn't exist :)
how odd. is this was ias 1 para 56 is getting at?