Search found 1309 matches

by JRSB
28 Feb 2024, 11:04
Forum: IFRS-related topics
Topic: IAS 16 - PPE transfer to Inventory
Replies: 7
Views: 512

Re: IAS 16 - PPE transfer to Inventory

cost being NBV at transfer date
by JRSB
28 Feb 2024, 11:04
Forum: IFRS-related topics
Topic: IAS 16 - PPE transfer to Inventory
Replies: 7
Views: 512

Re: IAS 16 - PPE transfer to Inventory

lower of cost and net realisable amount.
by JRSB
27 Feb 2024, 18:23
Forum: IFRS-related topics
Topic: Direct equity investment - transaction price & fair value
Replies: 10
Views: 684

Re: Direct equity investment - transaction price & fair value

I don't think an auditor will go for that for an AIM quoted equity
by JRSB
27 Feb 2024, 18:22
Forum: IFRS-related topics
Topic: Direct equity investment - transaction price & fair value
Replies: 10
Views: 684

Re: Direct equity investment - transaction price & fair value

you could use another valuation technique like cost, NAV or discounted cash flow or most recent fundraise or something
by JRSB
27 Feb 2024, 11:28
Forum: IFRS-related topics
Topic: Definition of ' Related Party'
Replies: 7
Views: 544

Re: Definition of ' Related Party'

Parent and child are not close family?
by JRSB
26 Feb 2024, 19:23
Forum: IFRS-related topics
Topic: Direct equity investment - transaction price & fair value
Replies: 10
Views: 684

Re: Direct equity investment - transaction price & fair value

Yes I'd think generally AIM would be L1 but I can see counterarguments depending on which company. Some people might hold at using other approaches.
by JRSB
25 Feb 2024, 15:33
Forum: IFRS-related topics
Topic: Contra revenue vs expense
Replies: 13
Views: 861

Re: Contra revenue vs expense

If you have an agreement with a supplier to buy something, and then charge that to your own customer later, it's no different to the other costs going into the provision of the service. Revenue and other side cost of sales. There may be specific scenarios where you are the agent or something but wou...
by JRSB
25 Feb 2024, 15:15
Forum: IFRS-related topics
Topic: Contra revenue vs expense
Replies: 13
Views: 861

Re: Contra revenue vs expense

As in disbursements that you incur and then charge to the customer?
by JRSB
25 Feb 2024, 14:20
Forum: IFRS-related topics
Topic: Contra revenue vs expense
Replies: 13
Views: 861

Re: Contra revenue vs expense

IFRS 15.47
by JRSB
25 Feb 2024, 14:18
Forum: IFRS-related topics
Topic: Contra revenue vs expense
Replies: 13
Views: 861

Re: Contra revenue vs expense

Do you mean discounts given to customers? IFRS 15 tells you revenue is net of discounts. Therefore a discount is not an expense.

Is that what you mean?
by JRSB
25 Feb 2024, 14:16
Forum: IFRS-related topics
Topic: Common Control Business Combination?
Replies: 4
Views: 339

Re: Common Control Business Combination?

yes
up to you
none
by JRSB
25 Feb 2024, 14:14
Forum: IFRS-related topics
Topic: Direct equity investment - transaction price & fair value
Replies: 10
Views: 684

Re: Direct equity investment - transaction price & fair value

yes but maybe elect as PLOCI given the volatility expected?
by JRSB
24 Feb 2024, 23:04
Forum: After hours
Topic: Congratulations
Replies: 5
Views: 9918

Re: Congratulations

Hi Hassen
by JRSB
24 Feb 2024, 23:02
Forum: IFRS-related topics
Topic: Direct equity investment - transaction price & fair value
Replies: 10
Views: 684

Re: Direct equity investment - transaction price & fair value

The price you actually pay. Common for AIM companies to issue shares below the traded price when fundraising; there can be limited liquidity and volatility can be high. Price might spike when your investment is announced but doesn't mean you'd be able to offload your holding at that elevated price e...
by JRSB
23 Feb 2024, 10:52
Forum: IFRS-related topics
Topic: IAS 40 Land and buildings
Replies: 5
Views: 443

Re: IAS 40

yes. why did you choose the cost model? always seems odd as you have to disclose the fair value anyway.
by JRSB
22 Feb 2024, 13:43
Forum: IFRS-related topics
Topic: Definition of ' Related Party'
Replies: 7
Views: 544

Re: Definition of ' Related Party'

What's your reading of the standard?
by JRSB
21 Feb 2024, 11:17
Forum: IFRS-related topics
Topic: Revenue recognition under IFRS 15
Replies: 7
Views: 471

Re: Revenue recognition under IFRS 15

:lol: Oh I thought C acquires B but A 'pays' for it in services.
by JRSB
20 Feb 2024, 18:00
Forum: IFRS-related topics
Topic: Revenue recognition under IFRS 15
Replies: 7
Views: 471

Re: Revenue recognition under IFRS 15

If wonder if the cost of providing those specific services is actually a distribution, as the owner is extracting that value to settle their liability (to acquire B). I assume A and C have common ownership.
by JRSB
20 Feb 2024, 14:41
Forum: IFRS-related topics
Topic: Revenue recognition under IFRS 15
Replies: 7
Views: 471

Re: Revenue recognition under IFRS 15

So A signs a contract where it performs services and gets nothing in return. So it's not revenue as the scope of IFRS 15 requires commercial substance.
by JRSB
20 Feb 2024, 11:44
Forum: IFRS-related topics
Topic: Revenue recognition under IFRS 15
Replies: 7
Views: 471

Re: Revenue recognition under IFRS 15

Why would A do this? Seems like the owner of A is extracting value in 'services' for its own purposes.
by JRSB
20 Feb 2024, 10:54
Forum: General accounting and financial reporting discussion
Topic: Differences in Amendments ASC 842 Vs IFRS 16
Replies: 2
Views: 195

Re: Differences in Amendments ASC 842 Vs IFRS 16

I'm not sure if there are any US-based posters on this forum
by JRSB
19 Feb 2024, 18:25
Forum: IFRS-related topics
Topic: IAS 12 - Deferred taxes on investment value (consolidated FS)
Replies: 12
Views: 722

Re: IAS 12 - Deferred taxes on investment value (consolidated FS)

The earn out was not recognised as a liability? It should have been recorded at fair value. Maybe it was a stretch target recorded at nil? It will increase goodwill accordingly once paid later? Only if it's a measurement period adjustment, otherwise that should be to P&L. May be worth looking at...
by JRSB
19 Feb 2024, 12:05
Forum: IFRS-related topics
Topic: Classification of Golf Course
Replies: 4
Views: 330

Re: Classification of Golf Course

Seems like PPE to me.
by JRSB
19 Feb 2024, 10:26
Forum: General accounting and financial reporting discussion
Topic: Date of Authorization for Issue
Replies: 11
Views: 183

Re: Date of Authorization for Issue

I would have the same view. Either the audit is finished or it isn't; if it isn't, then management shouldn't be signing. If it is, the auditor should be ready to sign.
by JRSB
19 Feb 2024, 10:24
Forum: IFRS-related topics
Topic: IAS 8 - Change in capitalisation threshold
Replies: 2
Views: 259

Re: IAS 8 - Change in capitalisation threshold

I would say it's not a policy; as the business grows in size your threshold might increase too but I don't see restatements as necessary; presumably the impact is almost by definition immaterial too.
by JRSB
19 Feb 2024, 10:23
Forum: IFRS-related topics
Topic: IAS 12 - Deferred taxes on investment value (consolidated FS)
Replies: 12
Views: 722

Re: IAS 12 - Deferred taxes on investment value (consolidated FS)

a bit confusing because the investment in subsidiary is nothing to do with the consolidated financial statements, but if that entity was acquired in a business combination then maybe you have DT movements on group level intangibles.
by JRSB
19 Feb 2024, 10:21
Forum: IFRS-related topics
Topic: Classification of Golf Course
Replies: 4
Views: 330

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?
by JRSB
15 Feb 2024, 22:34
Forum: General accounting and financial reporting discussion
Topic: Date of Authorization for Issue
Replies: 11
Views: 183

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...
by JRSB
15 Feb 2024, 20:24
Forum: General accounting and financial reporting discussion
Topic: Date of Authorization for Issue
Replies: 11
Views: 183

Re: Date of Authorization for Issue

Anything which could affect the accounts which have already been signed by management.
by JRSB
15 Feb 2024, 19:18
Forum: General accounting and financial reporting discussion
Topic: Date of Authorization for Issue
Replies: 11
Views: 183

Re: Date of Authorization for Issue

Ok but what are you going to do if any issues come up in those few days?