Search found 3226 matches

by Marek Muc
14 Feb 2024, 16:39
Forum: IFRS-related topics
Topic: Employee Benefits- current service costs
Replies: 3
Views: 266

Re: Employee Benefits- current service costs

No, changes in actuarial assumptions are reflected as one-time adjustments to the liability, whereas current service cost reflects benefits earned in current period. https://ifrscommunity.com/knowledge-base/ias-19-employee-benefits/#actuarial-gains-and-losses https://ifrscommunity.com/knowledge-base...
by Marek Muc
14 Feb 2024, 16:36
Forum: IFRS-related topics
Topic: Relevant decisions are predetermined in a lease
Replies: 5
Views: 360

Re: Relevant decisions are predetermined in a lease

Through contractual provisions for example
PS. don't quote preceding posts please https://ifrscommunity.com/ifrs-forum-qu ... in-replies
by Marek Muc
14 Feb 2024, 16:32
Forum: General accounting and financial reporting discussion
Topic: Date of Authorization for Issue
Replies: 11
Views: 183

Re: Date of Authorization for Issue

JRSB wrote: 14 Feb 2024, 12:18 You wouldn't issue an audit opinion after the date they were authorised
I know that issuing the audit opinion on the same day is a standard practice, but what are the potential issues with issuing it at a later date?
by Marek Muc
13 Feb 2024, 23:18
Forum: IFRS-related topics
Topic: IAS 36 Decision tree in the Knowledge Base
Replies: 8
Views: 341

Re: IAS 36 Decision tree in the Knowledge Base

If asset X doesn't generate independent cash inflows then you're not able to determine its value in use and recognise impairment the way you illustrated in your scenario.
by Marek Muc
13 Feb 2024, 18:50
Forum: IFRS-related topics
Topic: Overhauling the fully depreciated Assets
Replies: 4
Views: 129

Re: Overhauling the fully depreciated Assets

https://ifrscommunity.com/knowledge-base/cost-of-property-plant-equipment/#costs-of-major-inspections-or-overhauls When assets are fully depreciated, their carrying value and remaining useful life both drop to zero. But significant events like major inspections or overhauls warrant a re-evaluation ...
by Marek Muc
13 Feb 2024, 18:22
Forum: IFRS-related topics
Topic: IAS 36 Decision tree in the Knowledge Base
Replies: 8
Views: 341

Re: IAS 36 Decision tree in the Knowledge Base

Your scenario is a bit unclear to me. Could you clarify if asset X generates independent cash inflows? Also, I'm curious as to why you brought up CGUs B and C and goodwill if they aren't relevant to asset X, which seems to be the main focus of your question?
by Marek Muc
13 Feb 2024, 17:34
Forum: IFRS-related topics
Topic: Queries on Subleasing
Replies: 4
Views: 282

Re: Queries on Subleasing

a. Don't think this is covered, but I'd say yes
b. No, lessors must always use the interest rate implicit in the lease.
c. yes

@ Viv, please start a new topic please
by Marek Muc
13 Feb 2024, 17:31
Forum: IFRS-related topics
Topic: Overhauling the fully depreciated Assets
Replies: 4
Views: 129

Re: Overhauling the fully depreciated Assets

There are two distinct questions here: 1. Is this expenditure eligible to be included in the carrying amount of the associated asset? 2. Assuming it is, should the entity reassess the asset's remaining useful life? If the response to the first question is 'no', the expenditure is instantly recognise...
by Marek Muc
13 Feb 2024, 17:26
Forum: IFRS-related topics
Topic: IAS 12.4A Pillar Two reform
Replies: 6
Views: 591

Re: IAS 12.4A Pillar Two reform

How is this different from the general exclusion of Pillar Two taxes from DTA/DTL calculation?
by Marek Muc
13 Feb 2024, 17:24
Forum: IFRS-related topics
Topic: IFRS 16 interaction with IAS 36
Replies: 1
Views: 85

Re: IFRS 16 interaction with IAS 36

Recognised liabilities should be excluded from impairment tests based on ViU (the point about a buyer not assuming the liability is irrelevant here). If inclusion of recognised liabilities is necessary for operational reasons, ensure that cash flows related to their repayment are discounted using th...
by Marek Muc
13 Feb 2024, 16:58
Forum: IFRS-related topics
Topic: Relevant decisions are predetermined in a lease
Replies: 5
Views: 360

Re: Relevant decisions are predetermined in a lease

To me, operating a truck means driving a truck. Application of this criterion is also illustrated in Example 9—Contract for energy/power
by Marek Muc
13 Feb 2024, 16:54
Forum: IFRS-related topics
Topic: Recognition of rights issues
Replies: 1
Views: 100

Re: Recognition of rights issues

I agree that these won't be recognised in financial statements. I recall there was an amendment to IAS 32 concerning rights issues issued in 2009. A bit of online research might turn up some insightful technical discussions from that time (please share here if you find something interesting).
by Marek Muc
13 Feb 2024, 16:40
Forum: IFRS-related topics
Topic: Leases in service areas
Replies: 5
Views: 364

Re: IFRS 16 Leases

waletilahun wrote: 10 Feb 2024, 03:34 Dear Marek
This is IFRS Community, not Marek's inbox ;)

Sure, let's discuss these scenarios, please describe them.
by Marek Muc
13 Feb 2024, 16:38
Forum: IFRS-related topics
Topic: office floor in a building taken on rent (IFRS 16)
Replies: 3
Views: 169

Re: office floor in a building taken on rent (IFRS 16)

Sorry, fixed the link.
Depreciation starts from 1 June
by Marek Muc
13 Feb 2024, 16:37
Forum: IFRS-related topics
Topic: Business Combination under Common Control?
Replies: 5
Views: 169

Re: Business Combination under Common Control?

That's a typical BCUCC scenario
by Marek Muc
09 Feb 2024, 20:08
Forum: IFRS-related topics
Topic: Relevant decisions are predetermined in a lease
Replies: 5
Views: 360

Re: Relevant decisions are predetermined in a lease

Please provide more details about the particular asset you're looking into
by Marek Muc
09 Feb 2024, 17:44
Forum: IFRS-related topics
Topic: IAS 10 Adjusting events & IAS 28 Investments in JV
Replies: 3
Views: 216

Re: IFRS 10 Adjusting events & IAS 28 Investments in JV

It seems that IAS 10 isn't even relevant here since there's no specific 'event' occurring after the reporting date. You're simply refining your estimates during the preparation of financial statements at the reporting date.
by Marek Muc
09 Feb 2024, 17:40
Forum: IFRS-related topics
Topic: Investment in Beneficiary Trust
Replies: 3
Views: 118

Re: Investment in Beneficiary Trust

What's the nature of Company A's interest in this trust company? Does this trust company that your company invested in qualify as a subsidiary, a joint arrangement (joint operation or joint venture), associate, or an unconsolidated structured entity from A's perspective?
by Marek Muc
09 Feb 2024, 17:33
Forum: IFRS-related topics
Topic: Impairment loss in conoslidated and separate FS
Replies: 3
Views: 156

Re: Impairment loss in conoslidated and separate FS

Refer to the link I shared in previous post and feel free to share your analysis for our assessment.
by Marek Muc
09 Feb 2024, 17:28
Forum: IFRS-related topics
Topic: Souscription of preference shares after closing
Replies: 12
Views: 508

Re: Souscription of preference shares after closing

Leo wrote: 07 Feb 2024, 10:44 I'm wondering whether we are in presence of a future.
That's so profound! :lol:
by Marek Muc
09 Feb 2024, 12:10
Forum: IFRS-related topics
Topic: IRS - HEDGE Documentation
Replies: 5
Views: 1998

Re: IRS - HEDGE Documentation

Appendix: Hedge documentation template in https://www.pwc.com/hu/hu/szolgaltatasok/ifrs/ifrs_9/ifrs9_kiadvanyok/achieving_hedge_accounting_in_practice_under_ifrs9.pdf#page=230 And illustrative extracts for a specific transactions are given as part of 'Detailed illustrations' within the publication a...
by Marek Muc
07 Feb 2024, 17:00
Forum: IFRS-related topics
Topic: Regulated prices
Replies: 6
Views: 290

Re: Regulated prices

Are you getting any refunds from the government? If not, why are you continuing to sell locally at a loss?
by Marek Muc
06 Feb 2024, 23:25
Forum: IFRS-related topics
Topic: Equity method exemptions
Replies: 18
Views: 1108

Re: Equity method exemptions

Is your parent using any consolidation software? These types of software generally support equity method accounting, which should eliminate the need for manual effort.
by Marek Muc
06 Feb 2024, 20:54
Forum: IFRS-related topics
Topic: Impairment loss in conoslidated and separate FS
Replies: 3
Views: 156

Re: Impairment loss in conoslidated and separate FS

Does this subsidiary generate independent cash inflows? Is it a separate CGU in consolidated financial statements?

https://ifrscommunity.com/knowledge-bas ... statements
by Marek Muc
06 Feb 2024, 20:50
Forum: IFRS-related topics
Topic: IAS 10 Adjusting events & IAS 28 Investments in JV
Replies: 3
Views: 216

Re: IFRS 10 Adjusting events & IAS 28 Investments in JV

You should recognise the best estimate of the purchase price at the reporting date, i.e. using information available up to the authorisation of financial statements. What exactly does this uncertainty relate to?

PS. IAS 10 deals with events after the reporting period, not IFRS 10 ;)
by Marek Muc
06 Feb 2024, 20:44
Forum: IFRS-related topics
Topic: Regulated prices
Replies: 6
Views: 290

Re: Regulated prices

Look into IFRS 14 and the IASB's project: https://www.ifrs.org/content/dam/ifrs/p ... an2021.pdf

Could you share details about the price regulation system your company operates under?
by Marek Muc
06 Feb 2024, 20:41
Forum: IFRS-related topics
Topic: Equity method exemptions
Replies: 18
Views: 1108

Re: Equity method exemptions

The exemption in IAS 27.8 is optional so you could prepare two sets of financial statements: separate under IAS 27 and 'economic interest' under IAS 28. But if the goal is for you to account for the associates using the equity method, you can prepare only the separate financial statements and opt fo...