Monthly Archives: April 2009


Foreign currency translation issue

Dear Colleagues, I have a practical case regarding the subject for a not-for profit organization based in USA having operations in several African countries.Most of functional currencies of the field operations are their respective local currencies (Neither USD nor hyper Inflationary).Funds are advanced to these places from HQ periodically and will be converted to the functional currency for [...]

By |April 30th, 2009|OTHER|5 Comments


We transferred cash to our Austrian parent.  At month end we were charged loss on foreign exchange on our P&L.  What is the proper posting logic for a cash transfer to a foreign owned parent company on the same day? tx for the advice karen

By |April 24th, 2009|Uncategorized|1 Comment

Splitting out G&A

Question: When you’re talking about material class of similar items, does that mean for example that you have to break rent out of G&A line item?  Both rent and G&A are material amounts and so which is the standard way to do things. (1) group both in one line item and disclose in notes the [...]

By |April 23rd, 2009|GENERAL INFO, IFRS, LOCAL GAAP vs IFRS, OTHER IFRS|1 Comment

Classification of PPE, Investment Properties and Assets held for sales

My company is involved in renting of properties and selling of developemt properties. We currently have development properties that are held for immediate sale. However, due to the property is completed and vacant, the unit is available for rental to staff (for recreation purpose) in order to earn rental income. As such, can we still [...]

By |April 23rd, 2009|OTHER IFRS|0 Comments

Terminal Benefit Calculation

Dear members, May you please advice me on calculating terminal benefits for an employee Let’s say Mr. E has been working with ABC Company Ltd since 26th June 2007 and is to be terminated in 30th June 2009 after the business closure. His starting salary was US$300 per month plus 15% housing benefit totalling US$345. [...]

By |April 21st, 2009|OTHER IFRS|0 Comments

Intangible Assets – IAS 38

Dear Group member Please advice, the rent which is paid for the advertiment, like display of bill boards etc., can we take it into intangible assets. Is advertisment cost of our product an intangible assets Best Regards Suraj

By |April 21st, 2009|IAS 38|5 Comments

Income Statement

Dear Group members Please advice me on the following Does the company need to prepare the income statement, even if it has not yet started its main operation ? Thanking you in advance Suraj

By |April 21st, 2009|OTHER|2 Comments

Cash Flow Statement

Dear Friends Can anybody help me to prepare Cash Flow Statement? I mean, which transactions will be considered for cash flow statement, which will be ignored, etc. -- Best regards Mohammad

By |April 20th, 2009|OTHER IFRS|4 Comments

Entries – Consolidation of financial statements

Dear All, Request your valuable advice on the entries to be passed in the books of 1. Consolidated company 2. Stand Alone Parent Company for the purchase of shares on March 1,2009 and also the treatment of Goodwill. Company X had already acquired 50 % ...


Capitalization expenses IFRS

Leo wants to capitalize all costs of NSL on NSL’s books until it has completed its first year of operations.  In addition to the franchise fee, $20 million will have to be spent on the following:  Acquisition of player contracts                                                               $ 12,000,000 Advertising and promotion                                                                         1,500,000 Equipment                                                                                                 3,200,000 Wages, benefits, and bonuses                                                                 6,800,000 Other [...]

By |April 9th, 2009|IAS 38|1 Comment

By: admin

Message from Jeroen A negative value implies that the option is out of the money. You would therefore not exercise it at maturity. The value of an option (at least at the buyer's side) can in my view not become less than zero. Therefore the option should be written off to nil (via P&L).

By |April 1st, 2009|Uncategorized|Comments Off on By: admin