Search found 1309 matches
- 31 Mar 2023, 16:47
- Forum: IFRS-related topics
- Topic: Fixed assets or Prepayment
- Replies: 4
- Views: 1123
Re: Fixed assets or Prepayment
From your description, it's a SaaS contract for a service, so just release to P&L over time, so prepayment released over 2 years.
- 31 Mar 2023, 11:13
- Forum: IFRS-related topics
- Topic: IAS 8
- Replies: 11
- Views: 2600
Re: IAS 8
yes
- 31 Mar 2023, 11:11
- Forum: IFRS-related topics
- Topic: Fixed assets or Prepayment
- Replies: 4
- Views: 1123
Re: Fixed assets or Prepayment
A lease is exclusive rights over a specific asset, so not that.
You paid for the 3 year subscription up front right?
You paid for the 3 year subscription up front right?
- 30 Mar 2023, 20:30
- Forum: IFRS-related topics
- Topic: IAS 38- para 71
- Replies: 2
- Views: 851
Re: IAS 38- para 71
may be answering your own question, if didn't know it was an asset at the time, ie it was research at that point, and now it's development you want to capitalise the research. or just a mistake as MM said. look forward to the additional detail
- 29 Mar 2023, 09:47
- Forum: IFRS-related topics
- Topic: Capitalization of intercompany expense
- Replies: 9
- Views: 1359
Re: Capitalization of intercompany expense
I wouldn't describe employees of the subsidiary as being expenses external to the group but probably a terminology point
- 28 Mar 2023, 21:14
- Forum: IFRS-related topics
- Topic: Capitalization of intercompany expense
- Replies: 9
- Views: 1359
Re: Capitalization of intercompany expense
why only capitalise expenses external to the group? the costs might be salaries of employees of the sub as part of an internally generated development asset?
- 28 Mar 2023, 20:04
- Forum: General accounting and financial reporting discussion
- Topic: Setting up a Non-profit-organization
- Replies: 5
- Views: 12948
Re: Setting up a Non-profit-organization
what are they in substance? probably contributions /donations with no expectation of getting it back? but depends how 'foundations' operate in that country, maybe there are ones where you can contribute capital so that the foundation spends the income generated from it then returns the capital when ...
- 28 Mar 2023, 20:01
- Forum: IFRS-related topics
- Topic: Capitalization of intercompany expense
- Replies: 9
- Views: 1359
Re: Capitalization of intercompany expense
capitalise on consol too.
sub Cr bank Dr interco
parent Dr asset cr interco
you say 'cost plus' so sounds like profit to remove on consol too so group development asset may be less than parent's own books
sub Cr bank Dr interco
parent Dr asset cr interco
you say 'cost plus' so sounds like profit to remove on consol too so group development asset may be less than parent's own books
- 27 Mar 2023, 14:12
- Forum: IFRS-related topics
- Topic: Operations or Investment
- Replies: 2
- Views: 1002
- 26 Mar 2023, 14:56
- Forum: IFRS-related topics
- Topic: How often to prepare consol?
- Replies: 3
- Views: 789
Re: How often to prepare consol?
Setting up for failure at year end if you don't consider group issues until then.... maybe you have very simple structure and no real consolidation issues to worry about, unlikely in a 'complex' group....
- 20 Mar 2023, 14:24
- Forum: IFRS-related topics
- Topic: Reversal of Impairment on an individual assets within a CGU
- Replies: 2
- Views: 709
- 20 Mar 2023, 14:23
- Forum: IFRS-related topics
- Topic: Unrealised FX Losses treatment
- Replies: 2
- Views: 774
Re: Unrealised FX Losses treatment
P&L reserves brought forward are at their historic average rate for each year so aren't continually translated
- 20 Mar 2023, 10:55
- Forum: IFRS-related topics
- Topic: Impairment for Corporate Office
- Replies: 2
- Views: 770
- 20 Mar 2023, 10:54
- Forum: General accounting and financial reporting discussion
- Topic: Consolidation of branches
- Replies: 5
- Views: 13370
Re: Consolidation of branches
In some cases only the activities of a branch are taxable so you need separate ledgers to isolate tax sensitive items, etc I have seen this for example in France where the ledgers are mandated by law (I believe) even though it was just a branch of a UK company. Then there was a consolidation (albeit...
- 20 Mar 2023, 10:51
- Forum: General accounting and financial reporting discussion
- Topic: Share price question
- Replies: 6
- Views: 13245
Re: Share price question
question was for poster.... to me, delisting means taking a company private, so wondering why that means you can 'refund' shareholders. perhaps the investment was more like debt. 'obviously I need to refund shareholders' isn't obvious to me!
- 20 Mar 2023, 10:47
- Forum: IFRS-related topics
- Topic: Impairment for Corporate Office
- Replies: 2
- Views: 770
Re: Impairment for Corporate Office
apportion corporate assets to CGUs on a reasonable and consistent basis
- 18 Mar 2023, 18:43
- Forum: General accounting and financial reporting discussion
- Topic: Consolidation of branches
- Replies: 5
- Views: 13370
Re: Consolidation of branches
same principles as consolidating different entities. I assume you mean branch in the UK legal sense which is effectively divisions of the same legal entity, ie you might operate separate P&Ls but legally all the same company. So same as 'normal' consolidations , remove intercompany trading etc, ...
- 18 Mar 2023, 18:41
- Forum: General accounting and financial reporting discussion
- Topic: Share price question
- Replies: 6
- Views: 13245
Re: Share price question
Why would delisting mean you can 'refund' shareholders?
- 14 Mar 2023, 10:47
- Forum: IFRS-related topics
- Topic: IFRS 9 - Loan facility at below market interest rate (intercompany loan)
- Replies: 6
- Views: 1262
Re: IFRS 9 - Loan facility at below market interest rate (intercompany loan)
when you say 'based on effective interest rate', do you mean by reference to a market rate of interest, ie what a third party funder/bank would have charged? you say repayment is 'within 6 years' but is there anything more concrete to show this is non-current, ie it is repayable 'in 6 years time' et...
- 14 Mar 2023, 10:44
- Forum: IFRS-related topics
- Topic: Interpretation of "Loan term"
- Replies: 5
- Views: 1245
Re: Interpretation of "Loan term"
Seems like almost the definition of equity doesn't it, although is it repaid in preference to shareholders or alongside? Sounds like company and owner are both government so it won't make much difference perhaps
- 13 Mar 2023, 12:44
- Forum: IFRS-related topics
- Topic: Interpretation of "Loan term"
- Replies: 5
- Views: 1245
- 12 Mar 2023, 13:08
- Forum: General accounting and financial reporting discussion
- Topic: Possible changes to the EY structure
- Replies: 17
- Views: 25504
Re: Possible changes to the EY structure
I read elsewhere it wasn't shelved, just ongoing discussion about where the tax practice ends up after the changes. Because there's tax consulting but you also need tax experts in an audit practice.
- 12 Mar 2023, 12:30
- Forum: IFRS-related topics
- Topic: question about Profit from continuing operation in relation to NCI
- Replies: 5
- Views: 1127
Re: question about Profit from continuing operation in relation to NCI
there's a fundamental principle that if you control an entity then it's results are consolidated in full, not just your share (then show the amount attributable to NCI later). ie show 100% of all subsidiaries' revenue and expenses in group P&L.
- 09 Mar 2023, 10:27
- Forum: IFRS-related topics
- Topic: ECL-Related Companies from Russia
- Replies: 10
- Views: 2030
Re: ECL-Related Companies from Russia
they built up troops at the border from Oct 21? but you've said they're performing even now (to some extent) so presumably a sensible ecl was in order at that year end. are your accounts not late...?
- 08 Mar 2023, 21:03
- Forum: IFRS-related topics
- Topic: ECL-Related Companies from Russia
- Replies: 10
- Views: 2030
Re: ECL-Related Companies from Russia
Can you even receive funds from Russia?
- 07 Mar 2023, 12:44
- Forum: IFRS-related topics
- Topic: IFRS 9 Application for Revenue Based Financing
- Replies: 3
- Views: 925
Re: IFRS 9 Application for Revenue Based Financing
You're the borrower rather than the lender right? So we're talking about a financial liability?
- 06 Mar 2023, 12:26
- Forum: IFRS-related topics
- Topic: Funding received for Acquisition of asset
- Replies: 4
- Views: 1014
Re: Funding received for Acquisition of asset
ok I assume it's a church or school etc. Seems to me no explicit standard so you'd define the accounting policy being applied, ias 20 as you suggest. interested what marek thinks though. ias 20 does define government as including 'similar organisations' .
- 06 Mar 2023, 11:05
- Forum: IFRS-related topics
- Topic: Funding received for Acquisition of asset
- Replies: 4
- Views: 1014
Re: Funding received for Acquisition of asset
Why are the charity 'interested' in giving you £20m? Do they get to occupy it rent free for 30 years when its finished etc?
Does the charity own the building when finished?
Does the charity own the building when finished?
- 05 Mar 2023, 11:50
- Forum: IFRS-related topics
- Topic: Carrying Amount for Imparment
- Replies: 5
- Views: 1048
Re: Carrying Amount for Imparment
IAS 36 defines a CGU as a 'group of assets' , not a group of 'net assets'. Remember the point of a CGU is because you can't test cash flows from a particular asset on its own (eg goodwill, or a head office building etc), so fundamentally its just trying to add assets together. para 76 (B) - the carr...
- 05 Mar 2023, 11:42
- Forum: IFRS-related topics
- Topic: IFRS 3 - business combination
- Replies: 6
- Views: 1051
Re: IFRS 3 - business combination
I don't know if you're confusing standalone accounts and group accounts (since you mention 'assume no goodwill). Most likely, you just need to post Dr investment in subsidiary (an asset) and credit cash (asset). But since the topic of the thread is IFRS 3 you perhaps are stuck on group level entries...