Search found 1309 matches
- 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...
- 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.
- 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?
- 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
- 21 Jul 2023, 12:13
- Forum: IFRS-related topics
- Topic: impact of indirect interest in equity method in individual, separated and consolidated financial statements
- Replies: 2
- Views: 1651
Re: impact of indirect interest in equity method in individual, separated and consolidated financial statements
There's an interesting existing thread on question 1, if I can find it...
- 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?
- 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?
- 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?
What did the counterparty get in return? Was it a charity?
- 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...
- 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?
- 07 Jul 2023, 20:02
- Forum: IFRS-related topics
- Topic: Performance bonds
- Replies: 45
- Views: 51157
Re: Performance bonds
Recent BDO resource, if handy.. https://global-www.bdo.global/getmedia/ ... s.pdf.aspx
- 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.
- 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?
- 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...
- 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.
- 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?
- 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.
- 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?
- 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?
Is it 'all or nothing', or does he keep any amounts already paid if leaves?
- 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
- 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!
- 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?
- 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?
- 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?
- 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...).
- 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...
- 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...
- 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?
- 11 Jun 2023, 22:48
- Forum: IFRS-related topics
- Topic: Deferred Tax - NON CURRENT
- Replies: 10
- Views: 2900
- 11 Jun 2023, 22:46
- Forum: IFRS-related topics
- Topic: Deferred Tax - NON CURRENT
- Replies: 10
- Views: 2900