IFRS Application for GENERAL Insurers
23 – 24 November, Central London, UK
Visit the Website: http://www.informaglobalevents.com/FKM62275IFLW
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This course provides high quality introductory to interme…

IFRS Application for LIFE Insurers
15– 16 November, Central London, UK
Visit the Website: http://www.informaglobalevents.com/FKM62276IFLW
10% discount available with VIP Code FKM62276IFLW
This course provides high quality introductory to intermediat…

Please advise on the treatment of Bond issue related cost .

Suppose bond is a Fixed rate bond and and maturity period is 5 years.Total bond value is 100 mn and issue related cost is 2 mn. Please advise on treatment and presentation with refernce to re…

Dear all,
Our investment fund is an open-ended Fund constitued as a Unit Trust mostly invested in shares on a listed market. The NAV is calculated weekly.
At the launching period the NAV was fixed at 10.00, and 500,000 has been subscribed. Only one cla…

Is it is possible to reduce cost of a asset by the profit earned through the forward contract which is specificaly for  the said asset ?

Related posts:Accounting Entries for Forward Contract
audit engagement contract, non-profit non-stock entity
…

Tools ‹ IFRS LIST.COM – The online community about IAS IFRS, Accounting and Auditing — WordPress.

Related posts:IFRS: a help or a headache? Apply for MSc in Accounting and Control in Amsterdam
Request for auditing standard
Assistance for Audit…

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.

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What entry to be passed for profit or loss on forward contract at the inception date of forward contract and is there requirement of any of accounting entry as on balance sheet date just journal entries.

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Help me i need hedge entries for foreign currency hedge

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Can somebody please help me how to recognize present value and future values for receivables
giving examples with journal entries

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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)

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…

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 …

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 …

For development of qualifying assets we took a loan from bank, as per ias 23, interest cost on loan taken for qualifying assets will be capitalized to those assets, as per the loan agreement interest rate was libor+1.5, initially libor was high so to cover the loss of probable higher rate of interest co. went in to interest rate swap and as per that now co. has to pay only fix 4.5%  now libor rate has gone down so my question is, loss on interest swap will be transferred to …

Hello,
Can anyone tell me how the “loss identification period” (the period between the loss event and when the company becomes aware of it) should affect the probability of default in a collective provision model under the current IFRS sta…

ACo, an offshore company, makes non-interest bearing loans of $10m in FY00, to ZCo a related entity in a tax paying jurisdiction. Repayment terms are 5 equal annual installments from FY05, ending FY10.
Whilst i agree that one would generally FV the loan by discounting the future receivables to PV using market rates, what would one do with the difference between the PV (say $8m) and the $10m? I think one would immediately recognise that “unearned interest” of $2m in the income statement as a Dr, and in future years recognise the PV …

Dear All,
Would you please help me with IFRS accounting treatment for the below;
A company  gives interest free loan to an employee which is to be repaid in equal annual installments in 10 yrs time. now company wants to classify this as Held To Maturity. can they do it and if yes, what would be the accounting treatment.

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Dear Sir or Madam
Can you tell me what will be include in the Financial Instruments?
and second think i am doing research on the discloser of IFRS by the companies and i am not understanding what would i see in the annual reports of the companies for seeing the Financial Instruments ?
Regard
Rakesh

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Dear members,
IASB has issued an exposure draft which is open for comment till September 7, 2009. This IFRIC discusses the treatment when a company will issue its own shares to settle some or all of its liabilities.
The exposure draft talks about the right to acquire own equity instruments.
The draft can be accessed at the following location;
http://www.iasb.org/NR/rdonlyres/974EE382-6274-4294-A92B-230D0504C26E/0/IFRICD25.pdf
Comments can be sent in at the following address;
http://www.iasb.org/Current+Projects/IFRIC+Projects/IFRIC+D25+Extinguishing+Financial+Liabilities+with+Equity+Instruments/Draft+Interpretation+and+comment+letters/Draft+Interpretation+and+comment+letters.htm
Expert (http://www.theaccountantsdesk.com)

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