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Real-Time-You is a new exciting way to join IFRS List community. With Real-Time-You all members can… [more]

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Latest IAS 39 treatment on forward contracts

Hello to all IFRS expert, I would like to clarify the IAS 39 accounting entries for a forward contract. My… [more]

Latest IAS 39 treatment on forward contracts Latest IAS 39 treatment on forward contracts

Are you looking for IFRS discussions?

Are you looking for IFRS discussions? A new exciting and easy way to find useful discussion, resources,… [more]

Are you looking for IFRS discussions? Are you looking for IFRS discussions?

Save 15% on IASeminars courses as IFRS List member

We are pleased to announce that as IFRS List member you can now SAVE 15% on total order for any public… [more]

Save 15% on IASeminars courses as IFRS List member Save 15% on IASeminars courses as IFRS List member

UE adopted IFRIC 18 and other amendments to IFRIC and Standards (IAS39 + IFRIC 9 and IFRS 4 + IFRS 7)

The Commission of European Communities has adopted: - IFRIC 18 - IFRIC Interpretation 18 Transfers of… [more]

UE adopted IFRIC 18 and other amendments to IFRIC and Standards (IAS39 + IFRIC 9 and IFRS 4 + IFRS 7) UE adopted IFRIC 18 and other amendments to IFRIC and Standards (IAS39 + IFRIC 9 and IFRS 4 + IFRS 7)

IFRSPMI.it – New IFRS Portal in Italian

Dear all This is just to inform you that a new IFRS Portal is now available in Italian. Visit | http://www.ifrspmi.it Join… [more]

IFRSPMI.it – New IFRS Portal in Italian IFRSPMI.it – New IFRS Portal in Italian

FINANCIAL INSTRUMENTS, IAS 18, IAS 36 »

[10 Mar 2010 | 2 Comments | 0 views]

Should the receivable from 100% subsidiray requires impairment if there are accumulated losses in sub and net worth is negative?
If  it require impairment then what is the criteria to apply and specialy when audit report of that sub  has unqualified opinion and no issue for going concern.
According to IAS 27 (Intragroup losses may indicate an impairment that requires recognition in the consolidated financial statements)

Uncategorized »

[10 Mar 2010 | One Comment | 0 views]

A company has received advance for issue of its own shares in foreign currency. On translation in the functional currency the Company had exchange gain.
What should be treatment of this exchange gain? should this be:
1. Credited to profit and loss account;
2. Credited directly to retained earnings; or
3. Showned as liability to the person providing the advance.

IFRS, NEWS, TRAINING »

[26 Feb 2010 | 3 Comments | 0 views]

IFRS: a help or a headache?
Well, maybe the International Financial Reporting Standards are a bit of both. But rest assured, this Master’s will give you a solid grounding in IFRS, one that will enable you to understand the increasing complexity of state-of-the-art financial reporting > www.feweb.vu.nl/masteraccountingandcontrol (application deadline 1st of April 2010)

JOB »

[22 Feb 2010 | One Comment | 0 views]

Recruiter in search of senior candidates familiar with FRS39/IFRS9 (Singapore experience)
Email maggie.ong@gsiconsultants.com

NEWS »

[19 Feb 2010 | 2 Comments | 0 views]
Annual Report 2009 under International Financial Reporting Standards (IAS-IFRS 2009)

The Board of Directors of Fiat S.p.A. approved the Group’s 2009 consolidated financial statements and the Statutory accounts of Fiat S.p.A.. This could be an example of IFRS Annual Report 2009.
http://www.fiatgroup.com/en-us/shai/banns/budgets/Documents/2010/Progetto%20Bilancio%202009_20100219_Completo_ENG.pdf.
This document includes also some disclosures about accounting principles, amendments and interpretations adopted from 1 January 2009:
IAS 1 Revised – Presentation of Financial Statements
IAS 23 Revised – Borrowing Costs
Amendment to IFRS 2 – Share-based Payment: Vesting Conditions and Cancellations
Improvement to IAS 16 – Property, Plant and Equipment
Improvement to IAS 19 – Employee Benefits
Improvement to IAS 20 – Government Grants …

IAS 38 »

[14 Feb 2010 | 3 Comments | 0 views]
IAS 38

A company have a computer software (internally generated) which results in buying the programmes to users
The main customer of this programmes has bankrupt
so the software will not be sold ,Is Impairment should be ?
and also  a few programmes may be sold
So what’s the right Treatment For this according to IFRS?

IFRSLIST.COM »

[8 Feb 2010 | One Comment | 0 views]
Are you looking for IFRS discussions?

Are you looking for IFRS discussions?
A new exciting and easy way to find useful discussion, resources, Ideas about you International Financial Reporting Standards IFRS.
Search your needed topics using tag (key word) search. Just visit http://www.ifrslist.com/tag/ page and click on your tag.

EVENTS, TRAINING »

[8 Feb 2010 | One Comment | 0 views]
London – IFRS Training courses – SPECIAL 10% Discount for IFRS List

Dear members.
This is just to inform you about interesting IFRS courses organized by Infoline in Central London.
See attached notes for more details.
Special 10% discount for IFRS List – Quote VIP code: KM6384IL-10%discount
A Practical Introduction to
IFRS Application for LIFE Insurers
Including Case Studies & Worked Examples
15 & 16 April 2010 • Central London

A Practical Introduction to
IFRS Application for GENERAL Insurers
Including Case Studies & Worked Examples
28 & 29 April 2010 • Central London

REFRESH YOUR UNDERSTANDING OF IFRS APPLICATION FOR 2010:
• Obtain an overview of Financial Reporting Requirements for Insurance Companies
• Gain a basic …

IFRS FOR SME, IFRS FOR SME (SMEs), RESOURCES »

[3 Feb 2010 | 4 Comments | 38 views]
IFRS for SMEs – Free training material by IASC Foundation

The IASC Foundation is developing 35 stand-alone training modules – one for each section of the IFRS for SMEs. The modules are free-to-download. The training material has been subject to multi-level peer review. It has not been approved by the IASB. Modules are related to:
- Small and Medium-sized Entities
- Financial Statement Presentation
- Statement of Financial Position
- Statement of Comprehensive Income and Income Statement
- Notes to the Financial Statements
- Accounting Policies, Estimates and Errors
- Inventories
- Investment Property
- Property, Plant and Equipment
- Government Grants
- Borrowing Costs
- Events after the End of the …

IFRSLIST.COM »

[2 Feb 2010 | 3 Comments | 59 views]
Real Time You

Real-Time-You is a new exciting way to join IFRS List community.
With Real-Time-You all members can easily
1. Meet other IFRSList members
2. Start new Discussions
3. Update their Status
4. Quote Info
5. Share useful Links and Documents
Start now to enjoi.
Go to http://www.ifrslist.com/real-time-you/

RESOURCES »

[1 Feb 2010 | 2 Comments | 71 views]
IFRS FAQ

INTERNATIONAL FINANCIAL REPORTING STANDARDS
Questions and Answers | Developed by American Institute of Certified Public Accountants.
Here’s the link http://www.ifrs.com/ifrs_faqs.html

FAIR VALUE, FINANCIAL INSTRUMENTS »

[28 Jan 2010 | One Comment | 94 views]
Speculative trading position on accrual accounted asset?

Hello all,
We have several positions of ‘commodity storages’ in our portfolio (oil storage tanks, underground gas storages, coal reserves…). These storages are considered as assets and are valued at a typical average winter/summer commodity spread (buy summer, sell winter). The complete portfolio is accounted using the “accrual” method. Within the trading business these spreads are also referred to as intrinsic value of a storage.
We are considering trading positions on these assets in the future… This implies that traders should be possible to take daily ’speculative’ positions on assets assigned in our physical …

FAIR VALUE, FINANCIAL INSTRUMENTS, IFRSLIST.COM »

[9 Jan 2010 | 5 Comments | 344 views]
Latest IAS 39 treatment on forward contracts

Hello to all IFRS expert,
I would like to clarify the IAS 39 accounting entries for a forward contract.
My company currently open LC for purchase of machinery from japan for our trading business on 11 March 2010. Due to forex volatility, we entered into a forward contract for Japanese Yen. Say the yen amount is JPY25,000,000 @ 3.789 (for malaysia) maturity on 10 January 2011.
What is the double entry ? Is it correct that we debit financial assets at RM947,250 (Yen x 3.789/100) and credit financial liability RM947,250 at the same …

IFRSLIST.COM, NEWS »

[7 Jan 2010 | 2 Comments | 206 views]
Save 15% on IASeminars courses as IFRS List member

We are pleased to announce that as IFRS List member you can now SAVE 15% on total order for any public seminars booked through IASeminars website (within June 30th 2010)
In order to benefit from this offer, please remember to use the IFRSList promotional code (“LIST15 “) when prompted to do so whilst placing an order IASeminars website.
Discover in detail the benefit and IASeminars worldwide courses. Click here – http://www.iaseminars.com/en/ifrslist.html?utm_source=ifrslist0509&utm_medium=email&utm_campaign=ifrslistmay
Hoping you’ll find this news a good news.
Comments and feedback are welcome: salvi.simone@gmail.com
Best Regards
Simone Salvi

RESOURCES »

[5 Jan 2010 | 2 Comments | 284 views]
IAS PLUS Updates – IFRS Closing Out 2009

Dear all
I suggest you an useful newsletter published by Deloitte (iasplus.com) that provides a high level overview of new and revised Standards and Interpretations that are effective for December 2009 and later accounting periods.
Have a good joining.
Simone Salvi
http://www.iasplus.com/iasplus/0912closingout2009.pdf