A company has received advance for issue of its own shares in foreign currency. On translation in the functional currency the Company had exchange gain.
What should be treatment of this exchange gain? should this be:
1. Credited to profit and loss account;
2. Credited directly to retained earnings; or
3. Showned as liability to the person providing the advance.

Dear all,
This is my first participation in this forum. i have questions regarding the land as an operating lease.
We have a leased land used for a project. Currently the lease rent is being capitalised as land costs- Property Under Development, on the basis that this cost was incurred to bring the assets into operations.
My questions are:
1- Can the above treatment considered correct in anyway?
2- We want to transfer the land and building from PUD to Investment Property- what options do we have?
3- Are there any conditions to have the combination …

1.  is it possible for an audit engagement agreement as a tripartite audit engagement contract:
auditor,  auditee (non-stock non-profit) and funder (funding agency)?
2.  Can a funder (funding agency) enter into a bilateral  audit engagement contract with an external auditor
to audit a third party a non-stock non profi entity?
3.  The new standard for SME’s .  do these standars apply to non-stock non profit entities?

Company A Parent company Own land and lease out to a company B a subsidiary. Company A will construct hotel for B. Construction cost will be debited to fixed assets. Company B has entered into an agreement with Company C for hotel operation.
Land leased will be an operating lease for both A and B
Hotel building will be capitalized in company A however will be used by company B for earning revenue
Is this correct.
What if company B has to incur some techincal expense during constrcution and pay to COMPANY C can these …

Dear All,
Please let me know the treatment of Existing negative goodwill incase of first time adoption of IFRS
Regards
Chirag

We transferred cash to our Austrian parent.  At month end we were charged loss on foreign exchange on our P&L.  What is the proper posting logic for a cash transfer to a foreign owned parent company on the same day?
tx for the advice
karen

What is the accounting treatment if bonds will mature within 1 year and received a coupon.  Should I make an accounting entry to treasury bills representing the coupon.

The topic of IFRS roadmap will certainly be revisited under the new SEC leadership of Schapiro/Niemeier.  Will this slow adoption efforts?