List of useful info, resources and documents available on other websites about IAS 18 – Revenue. Summary of IAS 18 – IASPlus Full Text of the IAS 18 as at 31 December 2010 provided by IASB (You need to register) Other useful resources … Co…

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…

As per IFRS, how should we recognize the revenue for constructions activities. can we still use percentage completion basis or fully Completed basis as per IAS 18. If % completion basis is allowed, then what is the minimum % should be, before revenue i…

How should we report the discount on normal rates/tarriff as per IFRS. Is it mandatory to show both in Income statement or we can show net revenue? From management reporting perspective showing seperate is helpful but I am interested to know on IFRS.

…

Dear Sirs,
My query is related to IAS-17 described below :
A tenant is leased an office and billed for a year. The lease agreement is signed and handed over the kays. The tenant did not pay rent and legal case filed. The lease agreement is renewed automatically and keys are still with the tenant. Now in accounting the outstanding is considered as provision for doubtful debts.
Now I have following questions:
Whether tenant should be billed for another years & recognize revenue and simultaneously provide as bad debts, based on the facts that …

Does revenue discounted to cash basis at initial recognition need to be subsequently measured for changes in market interest rates for interest-free credit sales transactions?

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share with Stumblers
Tweet about it
Subscribe to the comments on this post
Tell a friend
Print for later

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.

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share with Stumblers
Tweet about it
Subscribe to the comments on this post
Tell a friend
Print for later

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

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share with Stumblers
Tweet about it
Subscribe to the comments on this post
Tell a friend
Print for later

how to recognize revenue for mall if 10 years tennacy contract but 8 years paid and two years for free

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share with Stumblers
Tweet about it
Subscribe to the comments on this post
Tell a friend
Print for later

Can external costs related to ISO certification be capitalized as intangible assets, under IFRS?

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share with Stumblers
Tweet about it
Subscribe to the comments on this post
Tell a friend
Print for later

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)

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share with Stumblers
Tweet about it
Subscribe to the comments on this post
…

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 being refunded this year to keep the good faith and relations of certain parties.
Appreciate comments on the same.

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share with Stumblers
…

The company incured pre operational revenue expenses and after operation the company is runnig with profit and preoprational revenue expenses remain same without any adjustment. what will be the procedure to adjust the unallocated revenue expenses please give the reference of ifrs and accounting treatment and also give me information whether total amount of unallocated expenses adust with the accounts at a time.
Thanks

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share with Stumblers
Tweet about it
Subscribe to the comments on this …

Dear All,
 
The company has main stream of revenue from rental property. The annual rent is amortized monthly equally over 12 months period.  Besides rental, company issues license for one year. I want to know whether license revenue should be amortized monthly over 12 months or in a month in which it is paid.

Bookmark on Delicious
Digg this post
Recommend on Facebook
Share on Linkedin
share via Reddit
Share with Stumblers
Tweet about it
Subscribe to the comments on this post
Tell a friend
Print for later