Monthly Archives: December 2009


Fixed Asset Capilization

Dear all Seasons greetings!! We have purchased a fixed asset with value of USD 100,00/- specifically at the request of our client. We had the same equipment, but the client need two instead of one and the client agreed to reimburse the cost of additional one, once we install the same on site. I just [...]

By |December 28th, 2009|OTHER IFRS|9 Comments

Protected: Openings in IFRS

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By |December 23rd, 2009|JOB|Enter your password to view comments.

Refund of earned income

How to treat the income which was earned and accounted in 2007, which is being partly refunded in 2009. The organisation had legal rights to the income and there was no error in accounting, so it is not a prior period item and there is no changes in the accounting policy.  The income is just [...]

By |December 10th, 2009|IAS 18|6 Comments

Non Profit Agency and Auditing

Can a funding agency enter into a bilateral contract with an external auditor to subject a non-profit entity to an external financial audit? The supposed audit engagement fee will be paid directly by the funder to the external auditor. The non-profit does not become a party to the audit engagement. Then, who becomes the addressee [...]

By |December 6th, 2009|AUDIT|3 Comments

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 Assets from Customers – Amendments to: - IFRS 4 and I...

By |December 3rd, 2009|DOCUMENTS, IAS 39, IFRS 7, IFRSLIST.COM, NEWS, RESOURCES|1 Comment

IFRS 1 (restructured in 2008) and IFRIC 17 adopted by UE

The Commission of European Communities has adopted: - IFRS 1 First time adoption of international financial reporting standards (restructured in 2008), that replaced International Financial Reporting Standard (IFRS) 1 First-time adoption of international financial reporting standards - IFRIC 17 - IFRIC Interpretation 17 - Distributions of Non-cash Assets to Owners Quick links to related documents: [...]

By |December 2nd, 2009|IFRIC 17, IFRS 1, RESOURCES|2 Comments

First Time Adoption – IFRS Guide

Dear all this is just to inform you about an interesting resource about IFRS 1 published by Deloitte. This is the Link

By |December 1st, 2009|RESOURCES|2 Comments