Dear all
Please help in deciding what items can be regarded as cash equivalents
>
Thanks in advance!
Regards,
Lina

Cash equivalents are financial instruments that can be easily converted to cash, have high liquidity like stock of quoted companies.

Best Regards.
Alberto

Lina,
I woul suggest to take a look into IAS 7.6: Short term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insgnificant risk of changes in value. Normally only an investment with a short maturity of three months or less from the date of acquisition.
Regards
Ingo

It usually includes …

Hello all!
We are currently assessing the impact of converting from our local GAAP to IFRS to prepare for a 2011 conversion. In this first diagnostic step, we hope to capture IFRS issues by account line item, divided into 4 main categories; accounting impact(disclosure and gap), system impact, business impact and people impact. (i.e. what would be the impact to the business on PP&E changes) We’re looking to bring in one of the major audit firms to guide us on this step. From this matrix, we hope to create a detailed …

Dear Friends
 
I am at learning process and would like to understand the following
 
1..Duties and resposibilities of Internal auditor
 
2..What is an internal control, and any website for getting material on internal control
 
Your guidence and inputs will improve my knowledge
 
thanks
AK
 

Dear Aslam,

 
I think You can refer to the AAS 6 on ‘Risk Assessment and Internal Control’ and AAS 7on ‘Relying Upon the work of an Internal Auditor’ pronounced by the ICAI,New Delhi www.icai.org

http://www.auditnet.org you have everything in there including subscription lists

http://www.internalaudit.biz/
 

 
http://www.iia.org.uk/
 
I think these sites will help you.
 
Selcuk

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Dear all,
Could someone help me with guidelines on
setting up an internal audit department which
none existed before.
 
Or refer me to the necessary IAS
Many Thanks
 
 

Kindly visit www.theiia.org
You could download the IIA standards/frameworks and other materials/guidance
or professional help you will need.

 
 
Dear James,

I would be difficult to send an procedural guidelines on setting up internal audit departement as we need to look at various areas of operation. Every company has and works under different dynamics.
 
Daya

iam an internal ausditoe having 25 years of internasl auditing exposure

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Hi,
 
Thanks for the information.
 
I would like to know, if we use cost model than also are we require to do the revaluation.
 
best regards
Suraj

Hi Suraj, 
Investment property is defined as property held (by the owner or lessee under a finance lease) to rentals and/or for capital appreciation, rather than for
   -use in the production or supply of goods and services for administrative purposes; or
   -sale in the ordinary course of business

IAS 40 covers investment property held by all enterprises and is not limited to enterprises whose main activies are in this area. Under IAS …

Please tell me the number and subjects of international accounting and audit standards boards
thanks a lot
fakhkhari

Hi,It is IAS19, pension liability for defined benefit plans.
Met vriendlijke groet / best regards,
Pieter

 
Hi,

Could some one mail me  IAS18 ,IAS 11 and IAS 19.
 
Thanks
Sanjana

Use this link

http://www.ccdg.gov.sg/frs/index.htm

 
 
dear henk,

would you plz confirm that these standard are implemented internationally or released by singapore govt in compliance with singapore SEC rules.
 
i ve surfed the sites of renowned audit/consultancy firms i.e KPMG, PWC & some of the others who have promulgated some, but not all, of IFRS/IAS in PDF with detailed commentary, practical …

Hi all (specially Bertold)
 
I have never seen an English written publication which documents the differences between German and US GAAP in English. As Bertold is in Austria I enclose this PWC link which gives us a publication in German on the topic (sellable via an Austrian website) but it is very recent i.e. 2006. This would confirm my impression that noody has published a decent guide in English highlighting the differences between German and US GAAP.  Am I right or wrong?
 

sorry the link
 
http://www.pwc.com/extweb/pwcpublications.nsf/docid/8795D3E69FDC2C97802571B5002E5120

Jorge,

You are right, You wonŽt find an “up …

Hi,
What disclosures does a company need to give for Interest rate swaps and which standards are applicable for this.
Thanks
Aneel

Hi Prethy

Actually available for sale is an open category that means that if company did not decide where to classify it can be classified as  available for sale. However for held for trading investments are bought to resell for short term gain rather to earn dividend but available for sale normally includes investment which are not held for short term gain rather which are carried for earning long term capital gain or dividend …

Hi,
How best can I carry out internal auditing in a non-profit making organization?
I am  just newly employed after completion of my study and earning a Bachelor degree in Business Administration and Management

What is your level? Are you a fieldwork auditor or are you in charge of a function?
 
Visit www.auditnet.org

I am a field work Auditor. Getting a new assignment on IFRS.

Hi,

I am a practising chartered accountant located at Indian city of Kolkata, in case of any assistance u may contact me.
Debashsish

I think you may study the internal auditing standards of IIA-USA, …

Sirs/Madam,
I would like to know weather or not it is permissible to issue bounce shares against reserve created out of revaluation of fixed assets, with references. If not, can the revaluation reserves be used for any purpose before the sale/ de-recognition of the fixed asset

 
No, the revaluation reserve is restricted to use for revaluation increases and decreases only, see IAS 16 PPE sub 39 – 41, only when assets are sold, the whole surplus will be realized in the income statement or when depreciated, that part may be released to …

Hi All
This is Muhammad Naveed
I have a query regarding the consolidation of subsidiaries. Does IAS-27 allow us to not consolidate subsidiaries which are immaterial for the group?
Is it specifically mentioned somewhere in IAS?
 
Regards
Muhammad

Well Naveed
Actually materiality is an underlying concept of the Financial Statements.So anything which is immaterial needs not to be disclosed or adjusted.
 
Thanks and regards

IAS 1 is the overall standard to refer to:

Materiality and Aggregation
29.        Each material class of similar items shall be presented separately in the financial statements.  Items of a dissimilar nature or function shall be presented separately unless …

Hello,
Have anybody know about KPI for Airlines industry.
Regard .
Amir

 
 
Amir,
 

Here’s a link that could be usuful for you.
http://www.europeanshippers.com/public/statements/archives/air_kpi_guide.htm

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Good morning,
Could anybody please guide me where I can find the full text of “AICPA Audit and Accounting Guide Health Care Organizations”?? Thanks in advance.
Cheers,
Abed

Are you looking for a particular chapter in the guide? The reason I ask is because those guides are usually 12-15 chapters long and usually need to be ordered through the AICPA. If you have access to an online research tool, at least in the U.S it is part of the research package. A couple of packages that are pretty good are RIA-Thompson’s Checkpoint and …

Hi all!
I am a young chartered accountant from India presently working in a reputed engineering company at Baroda, India. In the long run I plan to start a consulting firm focused on IFRS implementation and compliance. In the medium term I plan to get an international exposure particularly in South East Asian countries like Singapore, Malaysia etc. As Indian CA is not recognized as such in those countries I plan to take up international qualifications like ACCA or Singapore CPA although I still have to inquire whether it is possible to …

Dear All
can some one explain the Para 19 of IAS 2.I want an example of the inventory held by a service provider.
 
Thanks and regards

–
Kamran

Inventories held by service providers are those which will be used incourse of providing services like an Electrician may provide serviceto his clients and can use some switches, wires etc.

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Sono una studentessa di Economia e Legislazione d’impresa, Università
degli Studi di Verona.
Sto preparando una tesi sulla proposta dello IASB di creare degli IFRS
per le PMI.
Volevo alcune notizie riguardo l’argomento.
Grazie
Barbara
Hello,
I have been looking for guidance pertaining to the Information Technology aspect of IFRS.  From your email, I think you are concentrating on the business aspect of IFRS. Are you familiar with IT Auditing and the rules surrounding it?

Hi Barbara, welcome to IFRS List.
For all IFRS List members, Barbara is preparing a thesis about IFRS, and asked for info, resources links, about …

Dear all,
 
 
I’m an Master student at the University of Antwerp, and I’m writing my masterscription about IFRS 5: disconinuity of the operational management in the annual accounts. I was wondering if someone has some good sources to find my way through the IFRS 5 theory. I allready found iasplus.com, but I was hoping to find some additional information…
 
 
Kind regards, 
 
 
 
Anouk

Anouk,
check this out:
http://www.pwc.com/extweb/service.nsf/docid/C18BBC933D69A9328025726100597CC9
br,

Dear all,
I am a Certified Accountant from Asia. What is the best auditing firm in UK? I got an offer to work there.
 

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Dear All,

Our company has constructed a building which is to be our Head office. As part of improvements made on the buildings land, management decided to put up a garden with orchards and both Traditional and exotic trees. The garden is to beatify the environment as part of the environmental degradation measures and also enable the staff to go and relax. Out of the expenses so far incurred its felt we capitalize such expenses. I have gone thru the IAS 41 on agriculture where by they can be taken as …

Dear Sir,
 
I am a Chartered Accountant with more than two decades experience audit including listed and private companies and giving consultancy to various other corporate entities.
 
To become IFRS compliant, what are the Accounting Standards, which need to be modified substantially and what are the factors that need to be considered to make the Corporate India’s Financial Statements to be IFRS compliant.
 
What are the opportunities as an Indian I will have in international area and in emerging economies I will have in the next one or two years and Can I …

Hello,

I am a student of bcom(ecom)-5 n doing a project on the failure of ENRON.
 
Its failure involves many issues like lack implementation of corporate governance , SOXNORMS , Accounting standards ,etc.
 
Hence i would like to  welcome any suggestions from you , as IFRS is also included in it.
 
And i m very happy to read  your mails and i hope i would also be able to join in the discussions later.
 
Yours Sincerely,

Krish
 

Dear Krish ,
Sorry not to be able to be of big help due to lack of information about the Enron case , in case you …