Dear all,
This is my first participation in this forum. i have a question 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 costs 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 compination …

1. Does IFRS require consolidated accounts to be reported for subsidiary companies pursuing dissimilar activities?
2. Do companies within the EU have to use IFRS as a standard?  Are other standards allowed?
3. It is common practice, according to a publication, that consolidated accounts are prepared from the point of view of the parent company, thus, separating the fair values of minority interests.  Is this practice being worked upon by IASB?
If possible, please quote the relevant standard and the location of the source copy.

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Does IAS require consolidated accounts reported for subsidiary companies pursuing dissimilar activities (than those of the parent company)?
Can you quote the relevant IASs?  Where can I find copies and guidelines of the IASs for reading?
Do EU companies have to follow IAS since 2005?  What other standards (e.g. IFRS) are acceptable?  In which legislations?
Reference
Corporate Financial Accounting and Reporting 2nd Ed by Tim Sutton

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We are planning to take Franchise of One Brand, for this we are paying following amounts :-
1)      Initial Fees – this we have to pay only once.
 2)      Royalty – Every Year it is payable @ % on sales.
 3)      Additional Fees – this fees we have to pay them if we open another location also.
We need your advice that can we capitalized 1st and 3rd and write off the period we are taking the franchise, like we are planning for 5 years

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Help me i need hedge entries for foreign currency hedge

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Can somebody please help me how to recognize present value and future values for receivables
giving examples with journal entries

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This is to inform you about  an  interesting IFRS course in London.
There’s a special offer reserved to you.  As IFRS List member you can save up to 400 Euros.  Just quote VIP Code: KM2270IFRS when booking (see attached email for more details).
Kind Regards
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VIP Code: KM2270IFRS
IASC Foundation IFRS Conference
Wednesday 23 2010 and Thursday 24 June 2010
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For latest programme & to register, please visit the website
Register by 16th April & SAVE up to 400 Euros.
Dear IFRSList member ,
Have you registered your place …

If a subsidiary has a retained losses and it increase from year to year
In the parent separate financial statement as Subsidiary was recognized at cost Is there is a need to impairment or write down the cost of the investment of this subsidiary??

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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)

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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.

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IFRS: a help or a headache?
Well, maybe the International Financial Reporting Standards are a bit of both. But rest assured, this Master’s will give you a solid grounding in IFRS, one that will enable you to understand the increasing complexity of state-of-the-art financial reporting > www.feweb.vu.nl/masteraccountingandcontrol (application deadline 1st of April 2010)

Recruiter in search of senior candidates familiar with FRS39/IFRS9 (Singapore experience)
Email maggie.ong@gsiconsultants.com

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The Board of Directors of Fiat S.p.A. approved the Group’s 2009 consolidated financial statements and the Statutory accounts of Fiat S.p.A.. This could be an example of IFRS Annual Report 2009.
http://www.fiatgroup.com/en-us/shai/banns/budgets/Documents/2010/Progetto%20Bilancio%202009_20100219_Completo_ENG.pdf.
This document includes also some disclosures about accounting principles, amendments and interpretations adopted from 1 January 2009:
IAS 1 Revised – Presentation of Financial Statements
IAS 23 Revised – Borrowing Costs
Amendment to IFRS 2 – Share-based Payment: Vesting Conditions and Cancellations
Improvement to IAS 16 – Property, Plant and Equipment
Improvement to IAS 19 – Employee Benefits
Improvement to IAS 20 – Government Grants …

A company have a computer software (internally generated) which results in buying the programmes to users
The main customer of this programmes has bankrupt
so the software will not be sold ,Is Impairment should be ?
and also  a few programmes may be sold
So what’s the right Treatment For this according to IFRS?

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Are you looking for IFRS discussions?
A new exciting and easy way to find useful discussion, resources, Ideas about you International Financial Reporting Standards IFRS.
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Dear members.
This is just to inform you about interesting IFRS courses organized by Infoline in Central London.
See attached notes for more details.
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This highly interactive three-day course explores international financial reporting practices for banks and other financial institutions through the use of case studies, exercises, model financial statements and break-out sessions. Topics include: Clas…

This two-day workshop provides an in-depth review and illustration of the critical differences between US GAAP and IFRS. Course topics, presented using real-world financial statements and extensive examples, include major the differences between IFRS …

This two-day interactive workshop provides a thorough understanding of the practical application of IAS 39 Financial Instruments: Recognition and Measurement, IAS 32 Financial Instruments: Presentation, IFRS 7 Financial Instruments: Disclosures, and IF…

This two-day workshop provides a comprehensive guide to IFRS 1, First-time Adoption of International Financial Reporting Standards. Using real-world examples, case studies, model financial statements and checklists, this workshop enables delegates to u…

This four-day course provides a detailed overview of the major technical issues encountered when producing IFRS-compliant financial statements.
(*) As IFRS List member you can save 15% on this course. Read more

The IASC Foundation is developing 35 stand-alone training modules – one for each section of the IFRS for SMEs. The modules are free-to-download. The training material has been subject to multi-level peer review. It has not been approved by the IASB. Modules are related to:
- Small and Medium-sized Entities
- Financial Statement Presentation
- Statement of Financial Position
- Statement of Comprehensive Income and Income Statement
- Notes to the Financial Statements
- Accounting Policies, Estimates and Errors
- Inventories
- Investment Property
- Property, Plant and Equipment
- Government Grants
- Borrowing Costs
- Events after the End of the …

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INTERNATIONAL FINANCIAL REPORTING STANDARDS
Questions and Answers | Developed by American Institute of Certified Public Accountants.
Here’s the link http://www.ifrs.com/ifrs_faqs.html

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Hello all,
We have several positions of ‘commodity storages’ in our portfolio (oil storage tanks, underground gas storages, coal reserves…). These storages are considered as assets and are valued at a typical average winter/summer commodity spread (buy summer, sell winter). The complete portfolio is accounted using the “accrual” method. Within the trading business these spreads are also referred to as intrinsic value of a storage.
We are considering trading positions on these assets in the future… This implies that traders should be possible to take daily ’speculative’ positions on assets assigned in our physical …