Holding company has transfered money to subsidary as a long term loan without any interest.
How it should be presented as per IFRS. Should we show as equity loan without any discounting/with discounting? or we need to show as long term loan with or without discounting.

Hi,
my company has a subsidiary which is loss making. The capital has been fully consumed with accumulated losses. In consolidation, we have accounted for the losses. Now we are closing the company. What is the accounting treatment for the investment? in consolidation, this is offset against capital. How to account fo the write-off of the investment in consolidation?
thank you for your suggestion

If  company (A) has a subsidiary(b) during acquisition no goodwill was recognized  then the subsidiary (b) was merged with another company resulted for change it’s capital structure , so the Investment of (A) at (b) is now greater than it’s share of  new capital of (b) is the difference recognized as goodwill or what
please Help

IFRS 2010 Update

A step-by-step guide through the complexities of IFRS and all the latest developments from one of the key figures in the industry
London: September 21st – 22nd, 2010 and November 16th – 17th, 2010
Zurich: December 8th –9th 2010
As an IFRSLIST.COM subscriber you can claim a 10% discount – please quote VIP Code: KM2245IFRSEM2
Gain the most up-to-date all the requisite information required to successfully compile, disclose and present your organisation’s financial statements. Attend IIR’s IFRS 2010 Update course to encompass all the latest …

If a project is directly related to the project i.e software maintenance & development. How do I tag it in the income statement. Is it alright to say ” project implementation cost’

Do I still need to account for a 1% minority interest?
Are receivable from shareholders (part of share capital) eliminated in consolidation or not.

If the subsidiary was established prior to the parent company, what are the possible complications? I.e. because the Holdings require higher initial capital the management decided that once the subsidiary generates revenue. the revenue can be use to fund the share capital of the parent.
On the establishment of the subsidiary the shareholders put more money over the share capital. can i transfer the excess of shareholders capital in the subsidiary to the parent company? what would be my entry?Please help.

How do i record an acquisition without investment made by the parent to the subsidiary?

This year’s ‘Practitioners Forum on IFRS for Insurers’ explores how new financial reporting requirements will impact preparers of insurance company accounts over the coming months.
The 2010 Practitioners’ Forum on
IFRS for Insurers
Implementing New Approaches to Financial Reporting
in Response to the IASB Exposure Draft
22 September 2010 • Central London
Attend this Europe’s leading insurance accounting conference to:
• Gain up to the minute insights into IASB policy at Europe’s longest running and most trusted insurance IFRS gathering
• Obtain practical solutions to the valuation, reporting …

We have land on 99 years lease. Unexpired lease is 60 years. we revalued land in 2005 and created revaluation reserve. Same auditor is signing the annual accounts since 2005. This year, auditors say that we have to reverse the reavaluation part saying that as per IFRS, revaluation of leasehold land is not possible

I ran into a situation where a company takes a physical inventory (serially manufactured products) annually. In its  interim statements, it would like to omit the change in inventory from its cost of sales calculation (since including it would require a physical inventory in the interim). Assuming it publishes condensed interim statements, would this be acceptable? Or should it estimate the change? If so, any suggestions as to how?
(sorry if this was posted twice, the firs time I got a server timeout).

My company develops software for internal use (although it could also be sold to other similar companies). It almost always replaces the software we purchased at earlier time, so it generates visible economic benefits by reducing costs. Can we capitalize our internally developed software?

Dear All,
We run a SAP system with a company in EUR as Local currency and USD as reporting currency. When we book a 100 EUR invoice automatically SAP books it based on the system rate as f.e.150 USD in the reporting currency. Sofar everthing is in order. When we pay the 100 EUR from a EUR bank account 14 days later USD rate is 1,4.  In Local currency we have no realized exchange differences nor revaluation differences. In the reporting currency however we are facing a difference of 10 USD. I tend to …

Does anyone know where I can find an example of how standard costing would be reported under IFRS.

IAS 8 provides for chnages in accounting policies. Do you know of any companies that have changed their accounting policy from Market to historical costs for PPE

The 2010 Practitioners’ Summit on:
IAS 39 Replacement
Addressing Technical & Regulatory IFRS 9 Implementation Challenges
19 – 22 October 2010 ● Central London
For the latest programme or to register visit: http://www.informaglobalevents.com/KM6442IFRSE1
Dear member
I wanted you to be the first to see the programme for the 2010 Practitioners’ Summit on IAS 39 Replacement consisting of four consecutive and separately bookable one day events.
As an IFRS List subscriber you are eligible for an exclusive 10% discount.
Quote VIP Code: KM6442IFRSE1
PLUS register by 13th August to SAVE up to …

Is it possible alocate lease of land (reforestation) as a finance lease?

Volume Discount in Indian books we reduce it from the turnover but for UK accounting how it will be treated whether as direct cost or to be reduced from turnover.

a. Exchange difference arising between spot rate on the date of bill of lading and forward cover rate. Whether this difference is to be capitalized when pertaining to purchase of fixed asset or to be charged off as revenue. How will you treat the above in UK books and Indian Books? In Indian books earlier it used to be capitalized but now it is to be charged off as revenue

Dear members
This is to inform you about IFRS for Insurers conference in Central London in 2010.
Register by 20th August to SAVE up to up to £ 1.300!
To claim your discount just quote VIP Code : KM6393LISTEM when booking (see attached email for more details).
Kind Regards
Simone Salvi

Dear Colleague,
This year’s ‘Practitioners Forum on IFRS for Insurers’ explores how new financial reporting requirements will impact preparers of insurance company accounts over the coming months.
The 2010 Practitioners’ Forum on
IFRS for Insurers
Implementing New Approaches …

when we are paying taxes and subsquently recovering from customers, Can we net off and remaining can be shown as expenses.
Do we need to show both lines seperately collection as revenue and payment as expenses

When it is possible to establish an allowance for writing down inventory and when it isn’t?

Dear all
I have a doubt about the consolidation of fully owned subsidiary.
While consolidat the financial statements, which rate of exchange we should apply :
i think, for income statement, the rate should be average rate.for balance sheet items, the closing rate for monetory items and for non-monetory items the historical spot rate.
further,what rate, ie buying or selling rate of exchange, should be applied
thank you
Qatar

Dear Experts,
I shall be grateful if anyone can advise me on the following:
An Investment Fund (thereafter the “fund”) was established in April 2009 with the aim of investing, on behalf of the subscribers, on the local stock exchange.
The fund incurred the following expenses, classified as “Initial set up fees” amounting to US 5600, at its creation in the statement of financial position (Balance sheet);
(i)                  Payment to a consultant for legal advise amounting to US 1700
(ii)                License fees amounting to US 3400
(iii)               …

I came to know REIT sector in US will see a drastic change after adoptiong IFRS. How the Arms Length Price in Fair Value accounting is computed? Do we need depend on any excel templates for this? please suggest !