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IFRS, OTHER IFRS »

[28 Aug 2008 | No Comment | 2,578 views]

Friends,
I have a query regarding a case, which is like that:
A company have a practice to set off its creditors against it debtors and for that it gives a note for contingent liabilities , now the company don’t want to give the note for contingent liabilities as it is affecting its borrowing capacity , is it possible for company to do so, is there any case law for that, Please Guide me it is urgent.
 
Thanks
Abhishek

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IFRS, OTHER IFRS »

[28 Aug 2008 | No Comment | 2,523 views]

Sir,
I am a Trainee Student of Chartered Accountancy of Pakistan (ICAP) and doing articles in Anjum Asim Shahid Rahman Chartered Accountants Karachi.
I have started my study of Mod-E and need of comprehensive article on different IAS so Please
mail me a soft copy of IAS-21 (The Effects of Changes in Foreign Currency).
Thankful to u for this favor.
Regards,

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IFRS »

[28 Aug 2008 | No Comment | 1,496 views]

Hi can any one please tell the list of indian companies preparing as per
IFRS. Also are their statements available in their websites

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GENERAL INFO, IFRS »

[28 Aug 2008 | No Comment | 3,745 views]

Hello All
I am a management student .Taken Finance as my specilization.
As a part of our curiculum i am suppose to do a live project (kind of research taking a particular company as a tool on particular topic).
Can anyone guide me on which topic to choose.
Thanks and Regards

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IFRS »

[28 Aug 2008 | No Comment | 1,546 views]

Hi I am new to this group
can any body send me complete International Financial Reporting Standards and its related issues?
Thnkhs..

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IFRS »

[28 Aug 2008 | No Comment | 2,036 views]

Dear All

Can you please help me in allocating derection in the followin scenario

In a glass industries one main machine is being used to produce mould and how we can allocate that depreciation of main machine either on the basis of apportionment or fully we will charge that depreciation to either main plant or to mould cost.

What will be the accounting  entries in this case.

Reagards.

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IFRS »

[28 Aug 2008 | No Comment | 1,523 views]

I am looking for current IFRS Financial Statements from Canadian or US Companies. Homburg Investments is a Canadian real estate company that produces IFRS statements, but I am looking for more.
Anyone know of other companies?
Thanks

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AUDIT, IFRS »

[28 Aug 2008 | No Comment | 1,785 views]

Dear All, 
I require your help in the basis of cost allocation can be done for an internal audit fee between two entities.
BestRegards,

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IFRS »

[28 Aug 2008 | No Comment | 3,203 views]

Q. How are ‘Prior year’s expenses defined and treated?

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IFRS, OTHER »

[28 Aug 2008 | No Comment | 2,450 views]

What is the different between budget control and budgetary controls 

million thanks 

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CONSOLIDATION, DOCUMENTS, IAS 21, IFRS »

[28 Aug 2008 | No Comment | 2,485 views]
Difference of exchange

Dear All ,
Now we are part of an International Company : so we have to report monthly figures of our 35 units , our 35 units are in different country so different  currency ,
We are Consolidating all the units in The Holding and we report one figur…

IFRS, OTHER IFRS »

[28 Aug 2008 | No Comment | 2,324 views]

Good morning all
My client which is in the construction industry has been receiving assets in exchange for construction revenue. The Standards say
IAS 18
When goods are sold or services are rendered in exchange for dissimilar goods or services, the exchange is regarded as a transaction which generates revenue.  The revenue is measured at the fair value of the goods or services received, adjusted by the amount of any cash or cash equivalents transferred.  
IAS 16
In an exchange transaction the cost of assets acquired should be measured at the fair value of the …

IFRS »

[28 Aug 2008 | No Comment | 1,578 views]

Hi,
 
Somebody can tell me whether IFRS is applicable in the following countries and what are the reporting currency:
1.                   Sri Lanka,
2.                   Mauritius
3.                   Singapore
 
Can anybody provide me draft copy of accounts filed with above mentioned countries in ENP business (Oil and Gas exploration companies).
 
Regards,
  

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IFRS »

[28 Aug 2008 | No Comment | 1,475 views]

Can anybody provide me a demo annual report from Indian Accounting Standards To IFRS.. It would be completely mine pleasure.
Also if there is any resource relating to that than also u can provide to me.

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IFRS »

[28 Aug 2008 | No Comment | 5,616 views]

Dear all,

Good day!

A holding company had a subsidiary which is 100% owned. In 6 March 2006, the subsidiary issued new shares from $2 to $50,000 which changed the shareholdings from 100% to 40%.  As I read this is considered as deemed sale. The year ended of the holding company and the subsidiary is 31 December 2006.

These are my queries:

In view of the Holding company, how much is the equity take up considering the date of deemed sale?

In view of the holding company, how to compute for the gain/loss of the deemed …

IFRS »

[28 Aug 2008 | No Comment | 1,602 views]

Dear Gents,
I have an inquiry regarding the FroEx for construction contracts, if I won a contract in Euro and my functional currency is USD, shall I fix the exchange rate at the time of signing the contract and and every month will calculate revenue based on POC using this fixed rate or shall I change the contract amount very month (which is not practical) – pls. advise.
Thanks,

It is recommended that you fix the rate of exchange at the date of contract with concent of contractee and payment made accordingly but …

IFRS, OTHER IFRS »

[28 Aug 2008 | No Comment | 2,310 views]

If the entity’s policy is to capitalise borrowing costs and obtains a foreign loan probably taking advantage of the lower interest rates, any exchange differences should be capitalised as will during the period of construction of the qualifying asset.
Regards,

Nyasha

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IFRS »

[28 Aug 2008 | No Comment | 3,008 views]

Dear Fellow Members
I need your suggestions & explanations on below stated matter. If possible, please suggest with references of IAS.
An office is located in a bungalow, which is acquired on rent; the rent is paid in advance for a period of 1 year & the agreement is revised at the end of the term. It is mutually agreed that the bungalow will remain in the company’s possession for 5 – 8 years at least. We had to build rooms on the roof top, my …

IFRS »

[28 Aug 2008 | No Comment | 2,798 views]

Dear Collegue,
How do we recognise the revenue in Building Construction company.
Illustrate with good/understandable example.
Can anybody focus on it ?
Thanks in advance

Hi

Revenue to be recognized on the basis of percentage of completion POC basis. If you got contract to built builiding for a some one than POC method may suits you.

Actual cost divided by Estimated cost and then multiply by estimated revenue to recognized the portion of revenue recognised or if engineer can identify the percentage of construction completed you can use than percentage to …

IFRS »

[28 Aug 2008 | One Comment | 3,987 views]

As per the amended IAS 23, all borrowing costs on qualifying assets should be capitalised (no option to expense).
Does exchange differences on foreign currency loans qualify as borrowing costs to be capitalised?
Best regards
Allan

Hi Allan

To my understanding any positive/negative FX difference is expensed directly to the P&L.

Regards,
Marc

The change to IAS23 will come into force on Jan 2009. So far that is only allowed alternative, the benchmark tre
atment is to expense.
The exchange differences on foreign currency should be included to assets under construction and therefore capitalised. After capitalisation of qualifying asset any exchange …