Monthly Archives: May 2010

Accounting Treatment of Cost for migrating markets

Hi, I would like to know if the high costs of migrating markets, being already a traded fund, can be capitalized and further write off the costs over a period of at least 3 year. Is this possible or should these costs be expensed? Eli

By |May 27th, 2010|OTHER IFRS|1 Comment

CCH Customized Training Course on IFRS by Deloitte

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By |May 26th, 2010|DOCUMENTS, EVENTS, IFRS, TRAINING|4 Comments

What do you make of proposed amedments to IAS 12 Income Taxes

By |May 21st, 2010|OTHER IFRS|1 Comment

IASC Foundation IFRS Conference Asia – Final Programme now available!

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By |May 16th, 2010|DOCUMENTS, TRAINING|7 Comments

Capitalization of Initial cost of asset acquiring

Hi to everybody. My question is that: the initial costs to acquire an asset like; the negotiation and traveling expenses incurred by management to acquire an asset, what about such costs of that assets; in case before finalizing of the deal; a. it is certain that the asset would be acquired. b. its is not [...]

By |May 14th, 2010|IAS 16|7 Comments

Initial Costs capitalization

Hi sir. My question is that the costs of negotiation and traveling for acquiring an assets by management, what about the costs whether it should be capitalized or expensed in case; a. it is certain from the very day that the assets would be acquired. b. it is uncertain that the asset would be acquired [...]

By |May 14th, 2010|IAS 16|2 Comments

Gain on Bargain Purchase (IFRS 3)

Looking for an example of a company that has recorded a gain on a bargain purchase resulting from a business combination. Ideal if it was a mining company. Thanks Gord

By |May 13th, 2010|BUSINESS COMBINATION|6 Comments

Convenience Translation – Supplementary Information

Looking for an example of a company that has included a "convenience translation" in its IFRS financial statements. (as described in IAS 21 par 56-57 and BC14). This would be supplementary information that is presented in a different than its functional or presentation currency. Thanks

By |May 12th, 2010|IAS 21|1 Comment

Borrowing costs capitalization and consolidation?!

Could you please help with the following situation. Mother company (company A) has given loan to its 100% subsidiary (company B), which on the other hand capitalizes the borrowing costs since the loan is used to build a qualifying asset. In order to be able to provide loan to its 100% subsidiary, the mother company [...]

By |May 9th, 2010|IAS 23|10 Comments

Change in life of computer software IAS 16, IAS 8

Dear Experts, If useful life of computer software is revised from 5 years to 2 years, this would be a change in estimate as per IAS-8 and change will be prospectively. However, in practical example Cost $ 50000 as on 31-12-09 Accumulated Depreciation $ 30000 as on 31-12-09 NBV 20000 as on 31-12-09 If life [...]

By |May 5th, 2010|IAS 16, IAS 8|8 Comments