Search found 1338 matches
- 27 Mar 2024, 16:15
- Forum: IFRS-related topics
- Topic: Net Assets at Acquisition
- Replies: 14
- Views: 1287
Re: Net Assets at Acquisition
PS are the (now) minority shareholders happy with this arrangement!
- 27 Mar 2024, 16:14
- Forum: IFRS-related topics
- Topic: Net Assets at Acquisition
- Replies: 14
- Views: 1287
Re: Net Assets at Acquisition
It's an interesting question, since the cash never leaves the group. So the group isn't acquiring that cash.
- 26 Mar 2024, 23:06
- Forum: IFRS-related topics
- Topic: Termination Benefits IAS 19 or IAS 37
- Replies: 3
- Views: 409
Re: Termination Benefits IAS 19 or IAS 37
Seems like a restructuring provision (with disclosure) will do the trick. Presumably this is one element of various costs to be incurred as part of that restructuring. IAS 19 scope says it includes items where an obligation arises and where there is no realistic alternative but to pay the benefit. W...
- 25 Mar 2024, 19:04
- Forum: IFRS-related topics
- Topic: ECL for short term lending
- Replies: 10
- Views: 909
Re: ECL for short term lending
Jackob, good point about bullet loans, maybe there's 1 day left but actually there is no record of payments being made, as none were due until the last day. I guess that makes monitoring much more complex as you have no observable information. I guess you obtain even more evidence in these cases, eg...
- 22 Mar 2024, 11:01
- Forum: IFRS-related topics
- Topic: IFRS16 lease -Finance cost grouping
- Replies: 5
- Views: 597
Re: IFRS16 lease -Finance cost grouping
If you're asking whether it's acceptable to show the interest within finance costs, yes, I think you've identified the para which requires that.
- 21 Mar 2024, 16:55
- Forum: IFRS-related topics
- Topic: Accrued Interest - Loan Write Off
- Replies: 3
- Views: 496
Re: Accrued Interest - Loan Write Off
Depends on the wording in the loan agreement as to the contractual period over which interest accrues. But if it's contractually due, then the bad debt is the entire amount including accrued interest.
Are you writing off, or raising a 100% credit loss provision?
Are you writing off, or raising a 100% credit loss provision?
- 21 Mar 2024, 11:53
- Forum: IFRS-related topics
- Topic: IFRS16 lease -Finance cost grouping
- Replies: 5
- Views: 597
Re: IFRS16 lease -Finance cost grouping
If you isolate R&D costs as a separate P&L line perhaps you're better to put the RoU asset depreciation there?
- 21 Mar 2024, 11:13
- Forum: IFRS-related topics
- Topic: Reversal of liability
- Replies: 4
- Views: 516
Re: Reversal of liability
write back through P&L, effectively as a change in measurement of contingent consideration
- 21 Mar 2024, 10:22
- Forum: IFRS-related topics
- Topic: IAS 7 - cashflow
- Replies: 5
- Views: 551
Re: IAS 7 - cashflow
statement of changes in equity.
are you referring to the share based payment charge within P&L? (ie the debit rather than the credit)? if so, add it back as a non-cash movement.
are you referring to the share based payment charge within P&L? (ie the debit rather than the credit)? if so, add it back as a non-cash movement.
- 20 Mar 2024, 14:38
- Forum: IFRS-related topics
- Topic: ECL for short term lending
- Replies: 10
- Views: 909
Re: ECL for short term lending
presumably you'd already know with certainty if it had defaulted by the time you prepare the financial reports..?
- 20 Mar 2024, 14:36
- Forum: General accounting and financial reporting discussion
- Topic: Companies acts consolidation exemption and IFRS 10 exemptions
- Replies: 15
- Views: 702
Re: Companies acts consolidation exemption and IFRS 10 exemptions
as far as I'm aware CA06 only talks about exemption from consolidation in terms of group size, ie you are exempt if you are a small group, as defined. I'd be surprised if there is much of a cross section between 'small' groups and those who apply IFRS and are investment companies. I guess if there's...
- 19 Mar 2024, 19:00
- Forum: IFRS-related topics
- Topic: Definition of Gross Margin under IFRS
- Replies: 6
- Views: 544
Re: Definition of Gross Margin under IFRS
I'm mean there is no definition so you can do what you want as long as it's consistent and not misleading.
- 19 Mar 2024, 18:23
- Forum: IFRS-related topics
- Topic: Definition of Gross Margin under IFRS
- Replies: 6
- Views: 544
- 19 Mar 2024, 11:05
- Forum: IFRS-related topics
- Topic: Reversal of liability
- Replies: 4
- Views: 516
Re: Reversal of liability
It's 3 years later so if A had considered the $1m was payable, it is assessed that the fair value of that contingent consideration was $1m at the time, then reverse through P&L.
Or was it an error to record the $1m as a liability in the first place based on information at the time?
Or was it an error to record the $1m as a liability in the first place based on information at the time?
- 15 Mar 2024, 17:13
- Forum: General accounting and financial reporting discussion
- Topic: Companies acts consolidation exemption and IFRS 10 exemptions
- Replies: 15
- Views: 702
Re: Companies acts consolidation exemption and IFRS 10 exemptions
Sorry I don't follow the issue exactly.
- 13 Mar 2024, 19:32
- Forum: General accounting and financial reporting discussion
- Topic: Companies acts consolidation exemption and IFRS 10 exemptions
- Replies: 15
- Views: 702
Re: Companies acts consolidation exemption and IFRS 10 exemptions
Where does CA06 say individual accounts have to show subsidiaries at fair value?
- 13 Mar 2024, 17:16
- Forum: IFRS-related topics
- Topic: IAS 38 - Intangible Assets
- Replies: 3
- Views: 378
Re: IAS 38 - Intangible Assets
Intangible assets acquired with variable consideration is an open matter so you can determine a policy. But is it an intangible asset?
- 13 Mar 2024, 14:45
- Forum: IFRS-related topics
- Topic: IFRS 16 - Lease expenses
- Replies: 2
- Views: 376
Re: IFRS 16 - Lease expenses
Seems like the per page fee is a variable lease payment hence not in the lease liability (P&L when incurred)
- 13 Mar 2024, 12:15
- Forum: IFRS-related topics
- Topic: IFRS 16 Lease Term - lessor notice period
- Replies: 1
- Views: 302
- 11 Mar 2024, 17:29
- Forum: IFRS-related topics
- Topic: properties bought for resale under IAS 2
- Replies: 3
- Views: 122
- 11 Mar 2024, 15:19
- Forum: IFRS-related topics
- Topic: properties bought for resale under IAS 2
- Replies: 3
- Views: 122
- 11 Mar 2024, 00:46
- Forum: IFRS-related topics
- Topic: IAS 40 Cost model with annual impairment
- Replies: 3
- Views: 478
Re: IAS 40 Cost model with annual impairment
if you hold at cost you need to disclose the fair value anyway, so it'll be clear if that is lower than carrying value.
also, the scope of IAS 36 includes investment property held at cost as only FV model Investment property is scoped out
also, the scope of IAS 36 includes investment property held at cost as only FV model Investment property is scoped out
- 09 Mar 2024, 19:06
- Forum: IFRS-related topics
- Topic: Time deposits
- Replies: 5
- Views: 507
Re: Time deposits
A receivable is a financial asset.
- 06 Mar 2024, 15:24
- Forum: IFRS-related topics
- Topic: IFRS 16 Variable EIR
- Replies: 3
- Views: 432
Re: IFRS 16 Variable EIR
I don't see how an implicit interest rate can be variable in that sense, since it is implicit through replicating the present value of lease payments compared to what you would pay to acquire the asset outright. are the lease payments themselves variable?
- 05 Mar 2024, 10:46
- Forum: IFRS-related topics
- Topic: Unused tax loss treatment
- Replies: 1
- Views: 349
Re: Unused tax loss treatment
In a basic case, you just have zero tax liability if you're allowed to use those previous losses to offset. And then given you have a profit, maybe you have a deferred tax asset if profits are probable forward, to the extent unused losses remain. But sounds like your question is a tax one rather tha...
- 02 Mar 2024, 12:38
- Forum: General accounting and financial reporting discussion
- Topic: Depreciation of Diagnostic Laboratory Equipment
- Replies: 8
- Views: 698
Re: Depreciation of Diagnostic Laboratory Equipment
I worked with a company with diagnostic lab equipment and they used 4-5 years but may not be useful for the reason above.
- 01 Mar 2024, 15:42
- Forum: General accounting and financial reporting discussion
- Topic: Depreciation of Diagnostic Laboratory Equipment
- Replies: 8
- Views: 698
Re: Depreciation of Diagnostic Laboratory Equipment
if you're the auditor then it's for the client to make that judgement isn't it. We can't really comment as it depends on that specific equipment and the business etc
- 01 Mar 2024, 11:56
- Forum: General accounting and financial reporting discussion
- Topic: Depreciation of Diagnostic Laboratory Equipment
- Replies: 8
- Views: 698
Re: Depreciation of Diagnostic Laboratory Equipment
you can easily find some examples/benchmarks in pharma companies
do your own staff not know how long the machines will be used for?
do your own staff not know how long the machines will be used for?
- 28 Feb 2024, 17:48
- Forum: IFRS-related topics
- Topic: Right of Use Asset at the Date of Transition to IFRS
- Replies: 2
- Views: 332
Re: Right of Use Asset at the Date of Transition to IFRs
IFRS 16 has two options for transition.
- 28 Feb 2024, 11:04
- Forum: IFRS-related topics
- Topic: IAS 16 - PPE transfer to Inventory
- Replies: 7
- Views: 638
Re: IAS 16 - PPE transfer to Inventory
cost being NBV at transfer date