Articles tagged with: CASH
dear sir or mam
When one company adopt the IFRSs 1 first time then what are the irems exempted from national GAAP in the case of convergance to IFRSs.
pls read ifrs 1 and see the exemption given for the same
there are 10 exemptions
We have a projector & purchased 6 years back @ 17000/- we have depreciated 8000/- as of now and the NBV is 9000/-. Now the market value is 5000/-. Do we need any accouning treatment as per IFRS.
IAS 16, Property, Plant and Equipment (PPE), allows a choice …
The Company has taken a loan for construction of projects. A part of
amount is kept in FD with the Bank. Interest is capitalized on the
amount paid as per payment certificates like draw down. If the project
is capitalized and 2 payment certificates received after the
capitalization date. Now question is whether interest will be
capitalized on amount paid after capitalization date or expensed out.
I think after the project is completed, the interest expenses, is charged to
Query is not clear:
1. If the loan was taken for construction, interest component to the date of capitalization …
FINANCIAL INSTRUMENTS »
An answer to the following question would be much appreciated:
If no hedge accounting is applied, should all changes in fair value of derivatives be recognized as financial income or expense (so below operating result) or is recording of the change in fair value within operating result allowed?
Further, does anyone have one clear memo, including example journal entries of the various possble accounting issues (cf hedge, fv hedge net investment in foreign operation) applying hedge accounting and not-applying hedge accounting and if possible, all other accounting (including journal entries) not applying …
FINANCIAL INSTRUMENTS »
Can anyone respond to my email below?
Thanks and regards
I would need your assistance on how to account for futures/options in the financial statements.
Thanking you in advance for your kind assistance.
Have you looked at IAS39 already, because depending on that you can or cannot apply hedge accounting. Basically you have 2 methods either Cashflow hedging or fair value hedging. If you want to do hedge accounting you will be required to do a lot of prospective and retrospective testing to prove the effectiveness of your hedges. If you don’t do hedge …
A non-profit organisation based in Virginia, USA was donated part of
real estate’s value.Currently the real estate is being adminstered by
an agent.I would appreciate if any one could hint me what both IFRS
and USGAAP recommends for treating such transaction.
When you say value, I assume a cash donation was made to buy the
property. Is the property been transferred in the name of this
organization. If it has, this means that risks and rewards of
ownership have been trasferred.
I would assume, IAS 20, Grant accounting rules will need to be followed.
The amount of …
AUDIT, CONSOLIDATION, DOCUMENTS, IAS 36, IFRS »
Is there any guideline for measurement of loan impairment and recognition of interest income by using effective rate method
well Esther the UK leads the path i.e. the UK tax authorities are the only ones in Europe which accept IFRS reporting to the extent that its website http://www.hmrc.gov.uk/ does have a section allocated to differences between IFRS and UK GAAP
I wish in Germany they had the same thing!!!!!
Below is the list of applicable paragraphs from IAS 39 for measurement of loan impairment:
Financial assets carried at amortized cost
If there is objective evidence …
IAS 38 »
Please let me know about cost of create new web sit
will it be general expenses or intangible assets
So, which treatment prefered to be confirmed to international accounting standard
General expense: if there is no link to future cash inflow through this
Intangible asset: if satisfy the conditions of IAS 38 ..cash inflow, technical feasibility, intention, available market etc.
Do you expect with relative certainty that the development of the new web will bring new cashflows to the company?
If yes-then it should be recognised as an asset
If not-it is an expense and should be …
Hi ,I m doing a project on objective of financial reporting ,but one of te question is heating on me and i will really appritiate if some of u can give me ur suggestion.
well ,the question is whether the stewarship and financial report should have seperae objectives or not ? Cause some of te articles has argues that the financial report is not giving useful decision making information to all users ,and creditors and inverstors are the one left off . as Andrew Lennard argued ,so i wanna know whether it should …
Hello to everybody,
I want to prepare 31.7.2007-31.07.2008 and 31.07.2007-31.07.2006 cash flow statements.
How can I prapare according to the indirect cash flow method? Which issues should I consider?
Thanks for your help.
Good morning to all
Please let me know the salient points in related to Hedge (SWAPs, Collars, etc) and other treasury instruments present in differnt IFRS. Futhermore, kindly refer me certain website in this regard as well.
I shall be looking forward and thanks in advance.
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AUDIT, DOCUMENTS, FAIR VALUE, FINANCIAL INSTRUMENTS, IAS 39, IFRS, IFRS 7 »
DOCUMENTS, FINANCIAL INSTRUMENTS »
A holding company had a subsidiary which is 100% owned. In 6 March 2006, the subsidiary issued new shares from $2 to $50,000 which changed the shareholdings from 100% to 40%. As I read this is considered as deemed sale. The year ended of the holding company and the subsidiary is 31 December 2006.
These are my queries:
In view of the Holding company, how much is the equity take up considering the date of deemed sale?
In view of the holding company, how to compute for the gain/loss of the deemed …
i am working in a home finance company which is subsidary of german company, due to which we are require to prepare the financial from IGAAP to IFRS.
i have the following questions:-
1.we take a loan and in taking loan that we usually pay a processing fee.
2. we pay security deposit for taking Building on rent.
3. we pay Fringe benefit tax on varoius items
i want to know,how the above mentioned items will be Accounted in Books in IFRS.
thanks in advance
Hi , I had read IAS 32-39 and if you like …
If an institution is recognizing income by using flat rate method, but IFRS requires to recognize by using effective rate method. My questions are:
a) policy remains but financial statements it should be based on effective rate. Is it?
b) How to convert portfolio by using effective rate.?
I don’t think so, see this link
Can anyone confirm if the PRC has officially transitioned to full IFRS GAAP reporting and if so, what was the effective date? Are companies mandated to report in IFRS GAAP or can they still report in PRC GAAP up …
Please help in deciding what items can be regarded as cash equivalents
Thanks in advance!
Cash equivalents are financial instruments that can be easily converted to cash, have high liquidity like stock of quoted companies.
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.
It usually includes …
CONSOLIDATION, DOCUMENTS, IFRS »
I have some clients asking for studies that show the cost of conversion to IFRS for companies that have been through this. Does anyone know of resources for this?
and if anyone could link to any material about IFRS Conversion Project Management staff?
I don’t have info about it, but I would strongly recommend to include in the estimation the costs of following up on the quality of the conversion and further system modifications. Sometime those are bigger than the actual initial conversion costs.
This is a very difficult question to answer because …