Transfer of shares (USGAAP)

Hello   i have got a question on transfer of shares involving share permium, can any one help ?   Facts : (1) A holds 100% on C.    (2) C 's capital structure : 10,000 shares of US$1 par value.    (3) A has invested in Co C of USD 1m for share capital of USD 10,000 and share premium of USD 990,000.    [...]

By |August 28th, 2008|IFRS|0 Comments


Hi all! Can you tell me the journal entry of this prblem... Goods sold Rs.10000 Discount on cash payment 5%  Add tax 4% Plz journalize it! Sales                    10.000 Credit Sales discounts          500 Debit Tax payable               380  Credit Cash                      9.880 Debit Is this IFRS related? Or is this an accounting course exercise? Cagri Gurses wrote: Agree [...]

By |August 28th, 2008|IFRS|0 Comments

Recognition of Transfer Pricing charges

Quik question for the group. How would you record transfer pricing charges to a foreign subsidiary above the profit line in the P&L?  Specifically, if the TP charge is US$ 1.0MM – I understand the parent side would be an entry to a revenue account; however, the question is how to record it on the [...]

By |August 28th, 2008|IFRS|0 Comments

IAS-27 query

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 [...]

By |August 28th, 2008|IFRS|0 Comments