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AUDIT, CONSOLIDATION, DOCUMENTS, EVENTS, FINANCIAL INSTRUMENTS, IAS 16, IFRS, OTHER IFRS, TRAINING, UK, USA »

[3 May 2013 | One Comment | 666 views]
IFRS LIST.com 2013-05-03 20:08:51

Hello everyone!
Can somebody help me?  Which public companies provide their reports both in accordance with IFRS and GAAP ?
Thank you beforehand for help!

DOCUMENTS, OTHER IFRS »

[10 Oct 2012 | One Comment | 250 views]
Germany and IFRS

Could you please tell me is germany a member country of ifrs?

DOCUMENTS, OTHER IFRS »

[23 Aug 2012 | No Comment | 1,047 views]
Netting off principles in IFRS

While IFRS doesn’t allow netting off  (except where there is a right to net off).  Need to know few examples where an entity has a right to net off.
Background — I receive and incur fee income and expenses from various customers for vari…

OTHER IFRS »

[18 Aug 2011 | No Comment | 1,830 views]
How to apply IFRS impairment charges on loans

i need examples
mina.wagih@cibeg.com

Related posts:IFRS: a help or a headache? Apply for MSc in Accounting and Control in Amsterdam
IFRS treatment for interest free loans
Loans

Related posts:IFRS: a help or a headache? Apply for MSc in Accountin…

OTHER IFRS »

[13 Aug 2011 | No Comment | 266 views]
Accounting entry query at the year end

Please let me know the entry for the below transaction.
we have a job value 15.2 million. Let say, main client-x, contractor-y and we are subcontractror-z.
x has given the order  to y. y has given order to us. we have to provide the equipment which va…

OTHER IFRS »

[12 Aug 2011 | No Comment | 3,671 views]
Share application money

Where is share application money classified in balance sheet?

Related posts:Share application monies
Minority Interest
Accounting treatment for Increase in Equity-share Mkt. Price at FY- Closing.

Related posts:Share application monies
Minority In…

OTHER IFRS »

[3 Jun 2011 | No Comment | 2,272 views]

The problems of accounting for defined benefit pensions represents a significant issue on corporate balance sheets.  As of December 31, 2010, of the S&P 500 companies the funded ratio of plans was 81%, and corporate governance reports it the #1 concern in corporate planning.  One of the largest parts to the problem is understanding just how big the liabilities are, as older expectations and differing measurements make sets of circumstances difficult to compare.
Rules tending to earlier …

ASIA, AUDIT, BOOKS & RESOURCES, BUSINESS COMBINATION, CONSOLIDATION, DOCUMENTS, EVENTS, FINANCIAL INSTRUMENTS, IAS 16, IFRS, OTHER, OTHER IFRS, TRAINING »

[13 Nov 2010 | No Comment | 2,588 views]
Tools ‹ IFRS LIST.COM – The online community about IAS IFRS, Accounting and Auditing — WordPress

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…

OTHER IFRS »

[9 Nov 2010 | 3 Comments | 10,376 views]
Change Functional currency

Can somebody give me an illustrative example when a company changes its functional currency?
Are the any journal entries needed or just change the values?
What about the comparative figures?

Related posts:Conversion of foreign currency expenses with…

OTHER IFRS »

[31 Oct 2010 | 2 Comments | 6,648 views]
Interest free loan with no fixed repayment terms

Scenario:
In June 2006, XYZ Co. obtained an interest free loan amounting to USD 50 million from a third party with no fixed repayment terms. Under the terms of the loan agreement, the loan is to be repaid in annual installments, each equal to 60% of X…

CONSOLIDATION, OTHER IFRS »

[25 Oct 2010 | 2 Comments | 3,943 views]

Could you please help with the following situation?
The Company A (subsidiary) has financial liability to the third party. This liability is recognized at amortized cost using effective interest rate method as it repayable in 2020. We expect that this liability will be sold in 2010 by third party to parent of company A. After this transaction we expect that Company A will issue new shares as full settlement of this liability.
My question relates to derecognition of this liability => difference between carrying amount of liability and its fair value. Is …

AUDIT, IAS 18, IFRS BLOG, OTHER IFRS »

[14 Oct 2010 | 5 Comments | 3,056 views]

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 …

OTHER IFRS »

[11 Oct 2010 | 2 Comments | 3,054 views]

How to recognise in following Scenario:
Company has an contract with a service provider to build operate and upgrade its software network and collect fees from the nos of members using the network, further company has guranted a minimum amount of say 100 million if the membership fees collected by the operator is less than 100 million, than the difference shall be paid by the grantor to the operator. please explain how to recognise such guarantees in the books of grantor (non govt entity)?

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OTHER IFRS »

[5 Oct 2010 | 5 Comments | 6,552 views]

We are going to close our company financial year on 30th september 10. we want to make provision for bonus to paid next year to the employees.
1.can we make provision the bonus. what IAS is saying about the bonus provision.
2. what is differnece between accruals and provision

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OTHER IFRS »

[4 Oct 2010 | 2 Comments | 2,609 views]

In 2008 i have made a promise contract to buy a company.
In the beginning of 2009 i have signed the purchase contract.  In 2009 i also received the 2008 dividends.
So my question is.. should I register the goodwill taking in to account the 2008 equity of the subsidiary?

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OTHER IFRS »

[3 Oct 2010 | 3 Comments | 7,194 views]

We provide the bonus provision every month and charge to Income statement and review the liability. If we find that provision of bonus is more than contractual liability then we drop the excess and reduce the staff cost for the month. Is this the right treatment s per IFRS or we should take the reversal amount as an income?
what if bonus amount is charged to income statement in 1st year and after year end and closing of financial, management decide not to pay bonus. In second year, if we drop …

OTHER IFRS »

[14 Sep 2010 | 6 Comments | 5,341 views]

I know it’s a probably stupid question, but it keeps popping up, so I guess it’s important to somebody.
For example, XYZ uses electricity in its retail outlets.
On 31.12.Y1, it estimates the expense to be 25,000 and records this amount as year 1 “electricity expense”
On 15.1.Y2, it receives a formal invoice from the supplier.
As per this invoice, it is able to determine that the actual Y1 expense was 28,000.
Question: assuming its fiscal year-end is 31.12, what would be the proper procedure for dealing with this accrued liability as per IFRS?
Now, lets …

AUDIT, CONSOLIDATION, IAS 38, OTHER IFRS »

[9 Sep 2010 | 8 Comments | 4,816 views]

Hello,
I would be grateful for your advice on the following situation:
Company P buys 100% of company A and recognises goodwill in its consolidated financial statements. 3 months later the two companies merge and in the next period’s financial statements the goodwill is no longer separately presented, but presented in the notes as part of the investment property and is called “value of rentals” (company A owned a shopping mall). My question is: What happens to goodwill when a parent and subsidiary merge and which IFRS/IAS would you advise me to …

OTHER IFRS »

[23 Aug 2010 | 2 Comments | 3,174 views]

If a project is directly related to the project i.e software maintenance & development. How do I tag it in the income statement. Is it alright to say ” project implementation cost’

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OTHER IFRS »

[16 Aug 2010 | 10 Comments | 7,882 views]

We have land on 99 years lease. Unexpired lease is 60 years. we revalued land in 2005 and created revaluation reserve. Same auditor is signing the annual accounts since 2005. This year, auditors say that we have to reverse the reavaluation part saying that as per IFRS, revaluation of leasehold land is not possible

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