free lance IFRS instructor on Oil &Gas needed

We need a free lance IFRS oil & Gas expert to be part of this event- IFRS Oil & Gas workshop Accra. Bestwestern hotel Accra. december 14th to 17th. organised by Nigerian firm Stransact Partners. contact: eben.akinyemi@stransact.netIFRS for Oil ...

By |December 4th, 2010|OTHER|1 Comment

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...

Airline MRO Billing Accounting

I work in a company specialized in doing MRO for aircrafts, the issues that the work orders of the maintenance and repair takes from a month to 4 months direct salaries and materials are issued to the tasks and salaries are expensed in monthly basis and appears in the P&L while revenue will recorded once [...]

By |November 18th, 2009|GENERAL INFO, OTHER, OTHER GAAP, OTHER IFRS|1 Comment

Costing Method

Respected All, Can Someone Guide Me about .... What Are The Major Distinction Points Between Costing Methods: 1 Job Order Costing & Contract Costing; 2 Process Costing & Continuous Costing & Batch Costing Kindly Also Mention That In Which industry Which Costing Method Is Favourit. Best Regards Naveed

By |May 12th, 2009|OTHER|0 Comments

Cash and cash equivalents

Hi, 1. The accrued interest for a deposit (maturity less than 3 m) is included in "cash and cash equivalents" in BS? 2. If yes, the accrued interest (increase/decrease) is not an item in operating cash flow (in order to reconcile the bottom line from cash flow with the first line in balance sheet)? (I [...]

By |May 9th, 2009|OTHER|3 Comments

Forex translation and cash flow statement

Dear all, I have to translate the financial statements from local currency (not a hyperinflationary economy) in EUR according IAS 21 (EUR is presentation currency) for a stand-alone company (no consolidation needed) for the first year of activity (no openings). Income statement is translated at the average exchange rates (sum of each month separately). Balance [...]

By |May 9th, 2009|OTHER|3 Comments

Foreign currency translation issue

Dear Colleagues, I have a practical case regarding the subject for a not-for profit organization based in USA having operations in several African countries.Most of functional currencies of the field operations are their respective local currencies (Neither USD nor hyper Inflationary).Funds are advanced to these places from HQ periodically and will be converted to the functional currency for [...]

By |April 30th, 2009|OTHER|5 Comments

Income Statement

Dear Group members Please advice me on the following Does the company need to prepare the income statement, even if it has not yet started its main operation ? Thanking you in advance Suraj

By |April 21st, 2009|OTHER|2 Comments

Joint Venture Accounting

Dear Experts, A Parent Company B Subsidiary of parent company C Joint Venture company : Share capital Accumulated losses B has adopted equity accounting to book the loss or profit of C. C is under liquidation in next year and net assets distributed in JV partners. How to book liquidation entries in the books of [...]

By |March 11th, 2009|OTHER|1 Comment

Going Concern Sale

Hi all, I have converted a Trading as into a CC, and want to sell the assets of the Trading as to the CC. We need to notify Ministry of Finance about the “going concern” sale within 21 days, and they may then zero rate the VAT for the sales transaction. Both the trading as [...]

By |February 26th, 2009|OTHER|2 Comments

Accounting for telecomunication company

Dear all, I need your suggestion. Hmm... I just already join as a DETASERING in a NEW telecomunication company, a subsidiary of my previous company. Just for your information, the holding company is a company that related to supply gas energy. We couldn't adopt an accounting polcies from the holding. So, I must try to [...]

By |December 15th, 2008|OTHER|0 Comments

Company/ business valuation

i need different methods of valuing a company both quoted and unquoted companies. Detailed note and explanations would be appreciated please.Deji. Appropriate method would be weighted average cost. Best Regards, Hemant Hi, Can any body tell me how to go for valuation of closing stock of tools & sapres of various machinery parts? Thanks -- [...]

By |December 15th, 2008|OTHER|0 Comments


Dear All   Can any body tell me that is budget only for expenses or can be for Asset, liabilities and income also. My openion is it can be for all (Asset, liability, Expense and income). Please help me according to the IAS/IFRS. – Best regard...

By |December 14th, 2008|AUDIT, IFRS, OTHER, TAX|0 Comments

Not-for-profit organizations

In Canada, public companies and financial institutions (generally) will be adopting IFRS in 2011. Private companies will have the choice between IFRS and or local Canadian standards specifically for them. It has not been announce yet what will happen w...


Companies Act 1985 Query

Hello all, I wanted to find out whether the introduction of the Companies Act 2006 should replace the following statutory paragraph on non-trading accounts filed with companies house.  The paragraph reads as follows:- “The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 249A(1) of the Companies Act 1985. No notice has been deposited under section 249B(2) of the Companies Act 1985. Shareholders holding 10% or more of the nominal value of the company’s issued share capital have not issued a notice requiring an audit. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 221 of the Companies Act 1985, and for preparing accounts which give a true and fair view of the state of affairs of the company as at 30th June 2007 in accordance with the requirements of section 226, and which otherwise comply with the requirements of the Act relating to the accounts so far as applicable to the company.” Is this still relevant or do we still carry on using references to the Companies Act 1985? Many thanks, […]

By |August 28th, 2008|OTHER|0 Comments

Budget control

What is the different between budget control and budgetary controls  million thanks  […]

By |August 28th, 2008|IFRS, OTHER|0 Comments


I’m looking for the meaning of the acronym EPF, the context is auditing. Could “error propagation factor” be correct? Kind regards,       Acronym Definition EPF Earth Preservation Fund EPF Eclipse Process Framework (Java open source framework) EPF Ecole Polytechnique Federal (Federal Polytechnical School, Switzerland) EPF Educational Publishing Foundation EPF Emergency Plant Facilities EPF Employee Performance File EPF Employees Provident Fund (Malaysia) EPF Employment Policy Foundation EPF Engineering, Procurement and Fabrication EPF Ensuring Positive Futures (UK) EPF Environmental Planning Function EPF Epidemiological Flight EPF Eritrean Public Forum (Eritrea) EPF Error Propagation Factor EPF Established Programs Financing (Canada) EPF Estates Project Force (Church of Scientology) EPF Europäische Psychoanalytische Föderation (European Psycho-Analytical Federation) EPF European Panel Federation EPF European Patients’ Forum EPF European Powerlifting Federation EPF European Psycho-Analytical Federation EPF Exploitation Product Data File   Maybe something would fit? Regards, Anna   […]

By |August 28th, 2008|OTHER|0 Comments

Group accounting manual

Hi all, I have to update our Group accounting manual. The latest update was done in November 2006. My goal is to make sure that our group accounting policies are conducted in respect of IFRS. I have to update our policies and to implement new policies in accordance to the new rules implemented since then. Can you lease advice on the best way to tackle this task? I will be very thankful for any guidance, templates, links or suggestions. Best regards Hi Adil, Not sure you realize the task taken on! Only way to complete this is to go through one by one and note any changes. Our company did similar exercise with the hotel uniform system of accounts and below is the template used   New Policy Number New Policy Section New Policy Name Old Policy Section Old Policy Number Old Policy Name What Changed       New Policy Structure Old Policy Structure What Changed   Number Section Name Number Section Name   I’d happily buy you a beer when I’m in Denmark in July J for exchange of your updated document Mette […]

By |August 28th, 2008|OTHER|0 Comments

Internal Rate of Return (IRR)

For Example: A ) In Jan-2008 We have Invested 100,000,000 $ for that 50% (50,000,000) we took a loan from financial institution and 50% (50,000,000) we invest from our capital. B) Rate of interest for borrowing (50,000,000) is 8% flat yearly. C) We need to pay extra (cost) of $ 1,000,000 for incurring cost monthly. C) We sold out this investment in 120,000,000. in June-2008. Can anybody guide me to calculate IRR (Internal Rate of Interest). Also convey with if you have any easy example/function/theory. Best Regards, Zakariyya […]

By |August 28th, 2008|OTHER|0 Comments

Download IAS

  Anyone who knows where is to download IAS or other downloadable  standards??   […]

By |August 28th, 2008|OTHER|0 Comments