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

Sale of subsidiary

Company ABC and Company DEF both own Company XYZ (50%0 each). Company XYZ in turn owns subsidiary GHI (100%) and subsidiary XYZ (100%). Company ABC sells it s share in Company XYZ to Company DEF for a consideration of $1 and in turn buys 100% share of subsidiary GHI for $100,000. How do I account for sale of subsidiary GHI in [...]

By |November 2nd, 2009|CONSOLIDATION, FAIR VALUE|3 Comments

Purchase shareholding in joint venture from a joint venture

Hi all My company has a 50% shareholding in a joint venture company, A. A has a wholly owned subsidiary (B) and is going to transfer its interest in this subsidiary to its shareholders (i.e. 50% to my company and 50% to the other joint venturer). How shall my company account for such purchase of [...]

By |July 13th, 2009|OTHER IFRS|3 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