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	<title>IFRS LIST.com &#187; DISCLOSURE</title>
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		<title>IFRS 2011 Update course</title>
		<link>http://www.ifrslist.com/events/2011/11/16/ifrs-2011-update-course/</link>
		<comments>http://www.ifrslist.com/events/2011/11/16/ifrs-2011-update-course/#comments</comments>
		<pubDate>Tue, 27 Sep 2011 18:21:44 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[EVENTS]]></category>
		<category><![CDATA[IFRS UPDATE 2011]]></category>
		<category><![CDATA[ONLINE COURSE]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[HEDGE ACCOUNTING]]></category>
		<category><![CDATA[impairment]]></category>

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		<description><![CDATA[Upcoming dates for IFRS 2011 Update Course:
21-22 September 2011, London
16-17 November 2011, London
7-8 December 2011, Zurich
More dates are available! Click here to see them all 
Register here

10% discount: Quote VIP Code: FKW52236
Over the past 10 ...


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<li><a href='http://www.ifrslist.com/events/2010/11/16/london-ifrs-20102011-update-2-days-your-chance-to-save-up-to-550/' rel='bookmark' title='Permanent Link: London – IFRS 2010/2011 Update (2 days) – Your chance to save up to £550! – 16-17 November 2010'>London – IFRS 2010/2011 Update (2 days) – Your chance to save up to £550! – 16-17 November 2010</a></li>
<li><a href='http://www.ifrslist.com/events/2010/12/08/zurich-%E2%80%93-ifrs-20102011-update-2-days-%E2%80%93-your-chance-to-save-up-to-550/' rel='bookmark' title='Permanent Link: Zurich – IFRS 2010/2011 Update (2 days) – Your chance to save up to £550! – 8- 9 December 2010'>Zurich – IFRS 2010/2011 Update (2 days) – Your chance to save up to £550! – 8- 9 December 2010</a></li>
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		</item>
		<item>
		<title>Financial Instruments under IFRS</title>
		<link>http://www.ifrslist.com/2009/09/15/financial-instruments-under-ifrs/</link>
		<comments>http://www.ifrslist.com/2009/09/15/financial-instruments-under-ifrs/#comments</comments>
		<pubDate>Tue, 15 Sep 2009 09:58:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[FINANCIAL INSTRUMENTS]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[IAS 32]]></category>
		<category><![CDATA[IAS 39]]></category>
		<category><![CDATA[IFRS 7]]></category>

		<guid isPermaLink="false">http://www.ifrslist.com/?p=1423</guid>
		<description><![CDATA[Dear Sir or Madam
Can you tell me what will be include in the Financial Instruments?
and second think i am doing research on the discloser of IFRS by the companies and i am not understanding what would i see in the annual reports of the companies for seeing the Financial Instruments ?
Regard
Rakesh


Related posts:Financial instruments
Toronto – IASeminars Course: IFRS Financial Instruments Workshop (2-day course)
Hedge, Treasury instruments



Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-financial-instruments/' rel='bookmark' title='Permanent Link: Financial instruments'>Financial instruments</a></li>
<li><a href='http://www.ifrslist.com/events/2010/06/24/toronto-iaseminars-course-ifrs-financial-instruments-workshop-2-day-course/' rel='bookmark' title='Permanent Link: Toronto – IASeminars Course: IFRS Financial Instruments Workshop (2-day course)'>Toronto – IASeminars Course: IFRS Financial Instruments Workshop (2-day course)</a></li>
<li><a href='http://www.ifrslist.com/2008/08/26/ifrs-list-hedge-treasury-instruments/' rel='bookmark' title='Permanent Link: Hedge, Treasury instruments'>Hedge, Treasury instruments</a></li>
</ol>]]></description>
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		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>IFRS financial statements for year end December 2008</title>
		<link>http://www.ifrslist.com/2009/02/13/ifrs-financial-statements-for-year-end-december-2008/</link>
		<comments>http://www.ifrslist.com/2009/02/13/ifrs-financial-statements-for-year-end-december-2008/#comments</comments>
		<pubDate>Fri, 13 Feb 2009 20:57:05 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EXAMPLE]]></category>
		<category><![CDATA[EY]]></category>
		<category><![CDATA[FINANCIAL STATEMENT]]></category>
		<category><![CDATA[IFRS NOTES]]></category>

		<guid isPermaLink="false">http://www.ifrslist.com/?p=1145</guid>
		<description><![CDATA[EY published the following items:
- 2008 edition of Good Group that contains the IFRS consolidated financial statements of a fictitious company, Good Group (International) Limited, a manufacturing company with subsidiaries, incorporated and listed in Euroland, with a reporting date of 31 December 2008. The standards applied in these consolidated financial statements are those that were in issue at 30 September 2008
- 2008 Disclosure checklist that covers all standards and interpretations approved and issued by the IASB as of 15 October 2008.
Have a good joining&#8230;


Related posts:IASPLUS Update. Closing Out 2008
IFRS Update ...


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<li><a href='http://www.ifrslist.com/2009/08/24/ifrs-update-essential-update-for-2009-2010-financial-statements-save-up-to-675-register-by-the-4th-sept-2009/' rel='bookmark' title='Permanent Link: IFRS Update &#8211; Essential Update for 2009 &#038; 2010 Financial Statements &#8211; SAVE up to £675 (Register by the 4th Sept 2009)'>IFRS Update &#8211; Essential Update for 2009 &#038; 2010 Financial Statements &#8211; SAVE up to £675 (Register by the 4th Sept 2009)</a></li>
<li><a href='http://www.ifrslist.com/2009/07/09/ifrs-for-small-and-medium-sized-entities-smes/' rel='bookmark' title='Permanent Link: IFRS for Small and Medium Sized Entities (SMEs)'>IFRS for Small and Medium Sized Entities (SMEs)</a></li>
</ol>]]></description>
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		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>Provision for commission to agents on outstanding premiums</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-provision-for-commission-to-agents-on-outstanding-premiums/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-provision-for-commission-to-agents-on-outstanding-premiums/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 23:41:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 37]]></category>
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		<category><![CDATA[SEC]]></category>
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		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-provision-for-commission-to-agents-on-outstanding-premiums/</guid>
		<description><![CDATA[To all,
Can any one clarify whether it is necessary for provision for
commission to agents to be made for the premiums not yet received, at
the end of every month.
jay


For any provision, I think you&#8217;d first need to look at IAS 37 paragraph 14.
Is there a present obligation as a result of a past event?
Is it probable that there will be an outflow of resources to settle
the obligation?
Can the amount be reasonably estimated?
Whether or not the premiums have been received is not relevant.
Craig


If you recognise an income in the Profit &#38; Loss ...


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<li><a href='http://www.ifrslist.com/2008/12/15/termination-provisions/' rel='bookmark' title='Permanent Link: Termination provisions'>Termination provisions</a></li>
<li><a href='http://www.ifrslist.com/2010/10/03/bonus-provision-and-reversal/' rel='bookmark' title='Permanent Link: Bonus provision and reversal'>Bonus provision and reversal</a></li>
</ol>]]></description>
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		</item>
		<item>
		<title>Termination provisions</title>
		<link>http://www.ifrslist.com/2008/12/15/termination-provisions/</link>
		<comments>http://www.ifrslist.com/2008/12/15/termination-provisions/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 23:40:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[FAIR VALUE]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[IAS 2]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-termination-provisions/</guid>
		<description><![CDATA[Dear IFRS team,
We provide for early retirement or termination charges. Would it be
right in making the provision for the whole liability
(which could be for 5-10 years) that we know about in the year which
we make that commitment, or should this cost just hit the P&#38;L as and
when it occurs?
Many thanks for your help,
Sheetal


Hi Sheetal
Termination benefits are recognized only when the employer has
demonstrated its commitment to provide the benefits with a formal
detail plan for the dismissal of group of employees, when the employer
has contractually agreed to pay a termination benefit to ...


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<li><a href='http://www.ifrslist.com/2008/12/14/equity-investments-afs-is-a-non-monetary-items/' rel='bookmark' title='Permanent Link: Equity investments AFS is a non-monetary items?'>Equity investments AFS is a non-monetary items?</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-provision-for-commission-to-agents-on-outstanding-premiums/' rel='bookmark' title='Permanent Link: Provision for commission to agents on outstanding premiums'>Provision for commission to agents on outstanding premiums</a></li>
</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Interest Capitalization</title>
		<link>http://www.ifrslist.com/2008/12/15/interest-capitalization/</link>
		<comments>http://www.ifrslist.com/2008/12/15/interest-capitalization/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:29:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CASH]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 32]]></category>
		<category><![CDATA[LOAN]]></category>
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		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-re-ifrs-list-interest-capitalization/</guid>
		<description><![CDATA[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.
Hemant


I think after the project is completed, the interest expenses, is charged to
P&#38;L.
Krishnendu


Query is not clear:


1. If the loan was taken for construction, interest component to the date of capitalization ...


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<li><a href='http://www.ifrslist.com/2008/12/15/capitalization-of-visa-charges/' rel='bookmark' title='Permanent Link: Capitalization of Visa Charges'>Capitalization of Visa Charges</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-software-capitalization/' rel='bookmark' title='Permanent Link: Software capitalization'>Software capitalization</a></li>
</ol>]]></description>
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		</item>
		<item>
		<title>Capitalization</title>
		<link>http://www.ifrslist.com/2008/12/15/capitalization/</link>
		<comments>http://www.ifrslist.com/2008/12/15/capitalization/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:27:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-capitalization/</guid>
		<description><![CDATA[Dear friends,
Can you please give your opinion for the capitalization of the followings:
Modification to Existing Car Park
Construction of Temporary Car Park
Refurnish-Cooling Tower
Thanks
Hemant


Dear
I think that all of these costs should be capitalized.

&#8211;
Hesham


I agree with Hesham, it is to be capitalised, modification &#38; refurnishing
extends the life of the existing asset, thus providing future benefits.&#38; for Construction of Temporary Car Park, it is to be seen as to how
temporary is the car park. If it does not give you future benefits, like a
park for a couple of months, I think it should be ...


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<li><a href='http://www.ifrslist.com/2009/11/11/software-capitalization-expensed-out/' rel='bookmark' title='Permanent Link: Software Capitalization / Expensed out'>Software Capitalization / Expensed out</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-capitalization-of-building-costs/' rel='bookmark' title='Permanent Link: Capitalization of building costs'>Capitalization of building costs</a></li>
</ol>]]></description>
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		</item>
		<item>
		<title>Calculation of deferred tax</title>
		<link>http://www.ifrslist.com/2008/12/15/calculation-of-deferred-tax/</link>
		<comments>http://www.ifrslist.com/2008/12/15/calculation-of-deferred-tax/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:25:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[TAX]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DEFERRED TAX]]></category>
		<category><![CDATA[DEPRECIATION]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[FIXED ASSET]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[LINK]]></category>
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		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-calculation-of-deferred-tx/</guid>
		<description><![CDATA[Can any one help me for calculation of deferred tax under deductable timing diference
Example: writeen down value of fixed assets as pert accounts-200
         writeen down value as per tax                      150
please privide the soluision by giving effects in the profit and loos accounts and balance sheet. The company going to introduce deferred tax in first time


Hi,
 
Here is the solution::
U need to calculate PGBP in following manner taking into consideration timing differences :
 
PBT as per P &#38; L a/c ...


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<li><a href='http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-please-guide-on-this/' rel='bookmark' title='Permanent Link: Please guide on this'>Please guide on this</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-ias-12/' rel='bookmark' title='Permanent Link: IAS-12'>IAS-12</a></li>
</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Operating lease &#8211; Lessee&#8217;s books</title>
		<link>http://www.ifrslist.com/2008/12/15/operating-lease-lessees-books/</link>
		<comments>http://www.ifrslist.com/2008/12/15/operating-lease-lessees-books/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:24:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[ACCRUAL]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[IAS]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-operating-lease-lessees-books/</guid>
		<description><![CDATA[Hi All,
Accounting of lease rentals for operating lease in lessee&#8217;s book is
ruled in IAS as under :
&#8220;Lease payments under an operating lease shall be recognised as an
expense on a straight-line basis over the lease term unless another
systematic basis is more representative of the time pattern of the
user&#8217;s benefit.&#8221;
My query is that when there is an escalation clause in the contract
how should the accrual be made over the total tenor of the lease; for
eg: refer following table, should the accrual be made as per option 1
or option 2.
Thanks to reply asap.
Regards
Deepak


Option ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/15/discount-concession-amortization/' rel='bookmark' title='Permanent Link: Discount/ Concession amortization'>Discount/ Concession amortization</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-suggestions-required/' rel='bookmark' title='Permanent Link: Suggestions required . . . .'>Suggestions required . . . .</a></li>
<li><a href='http://www.ifrslist.com/2009/11/04/project-costs-land-lease/' rel='bookmark' title='Permanent Link: Project costs-Land lease'>Project costs-Land lease</a></li>
</ol>]]></description>
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		</item>
		<item>
		<title>Difference between affiliates and subsidaries</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-difference-between-affiliates-and-subsidaries/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-difference-between-affiliates-and-subsidaries/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:24:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[CONSOLIDATION]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[CPA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 37]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[LOAN]]></category>
		<category><![CDATA[PPE]]></category>
		<category><![CDATA[SHARE]]></category>
		<category><![CDATA[SUBSIDIARY]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-difference-between-affiliates-and-subsidaries/</guid>
		<description><![CDATA[Dears
Would you please explain me what is the difference between affiliates
and subsidaries, and then if there is any difference in accounting
treatments.( i am asking these question w.r.t an investment co.)
2nd thing is how i will treat the personal expenses of a partner which
are being paid by the co. and where i have to show it in the balance
sheet.
Regards,
Hameed


Dear Hameed
The shares of subsidiary company should be owned by holding company
but for affiliates, the relationship is a connected party.
Thanks and regards
Simon


Dear Simon
Thanx for your reply, dear would you please explian me more, ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/15/investment-decision/' rel='bookmark' title='Permanent Link: Investment decision'>Investment decision</a></li>
<li><a href='http://www.ifrslist.com/2010/04/01/consolidated-accounts-2/' rel='bookmark' title='Permanent Link: Consolidated accounts'>Consolidated accounts</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-goodwill-minority-calculation/' rel='bookmark' title='Permanent Link: Goodwill &#38; Minority calculation'>Goodwill &#38; Minority calculation</a></li>
</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Forex hedging treatment and disclosure.</title>
		<link>http://www.ifrslist.com/2008/12/15/forex-hedging-treatment-and-disclosure/</link>
		<comments>http://www.ifrslist.com/2008/12/15/forex-hedging-treatment-and-disclosure/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:24:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[DIVIDEND]]></category>
		<category><![CDATA[FOREX]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 32]]></category>
		<category><![CDATA[IAS 39]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[LOAN]]></category>
		<category><![CDATA[PRC]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-forex-hedging-treatment-and-disclosure/</guid>
		<description><![CDATA[Dear all


My Company has an outstanding USD loan of say US$10m and as our main subsidiaries are operating in China and earns revenue denominated in RMB, which will ultimately flow to our company in terms of RMB dividend (converted to USD due to exchange regulation in PRC).
As we need to make periodic payments say US$1m every quarter, we are considering entering forex contracts to fix the USD/RMB rate that matches the payments (i.e. 10 contracts @US$1m each @ either same conversion price or different conversion price). 
How should we disclose ...


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<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-ias-23-borrowing-costs-forex-diffrences/' rel='bookmark' title='Permanent Link: IAS 23 Borrowing costs &#8211; Forex diffrences'>IAS 23 Borrowing costs &#8211; Forex diffrences</a></li>
<li><a href='http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-accounting-treatment-of-arrangement-fee-paid-to-bank-for-term-loan/' rel='bookmark' title='Permanent Link: Accounting Treatment of &#34;Arrangement fee&#34; paid to bank for term loan'>Accounting Treatment of &#34;Arrangement fee&#34; paid to bank for term loan</a></li>
</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>IFRS 5</title>
		<link>http://www.ifrslist.com/2008/12/15/ifrs-5-2/</link>
		<comments>http://www.ifrslist.com/2008/12/15/ifrs-5-2/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:24:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[OTHER IFRS]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[EVALUATION]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 36]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[PPE]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-ifrs-5-2/</guid>
		<description><![CDATA[Dear all,

 
Is it possible to reclassify asset held for sale back to PPE?
 
 
Thanks,
Grace



Dear,
the guidances in this case are explianed in IFRS5.26 to IFRS5.29
Best regards,
         


Dear DivineIt is possible to reclassify an asset held for sale back to PPE if the criteria for classification are no longer met or if there is a change in plan for sale. The asset would need to be remeasured. Please refer to paragraphs 26 to 29 and 42 of IFRS 5 for more details on measurement and disclosure.
Regards
Vatsala




DEAR grace,
 
yes it is possible  but in that case ...


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<li><a href='http://www.ifrslist.com/2008/12/15/ifrs-1/' rel='bookmark' title='Permanent Link: IFRS-1'>IFRS-1</a></li>
<li><a href='http://www.ifrslist.com/2008/08/27/asset-held-for-resale/' rel='bookmark' title='Permanent Link: Asset held for resale'>Asset held for resale</a></li>
</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>IAS 2</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-ias-2-2/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-ias-2-2/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:24:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IAS 2]]></category>
		<category><![CDATA[BUDGET]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EXCHANGE RATE]]></category>
		<category><![CDATA[FINANCIAL INSTRUMENTS]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[INVENTORY]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-ias-2-2/</guid>
		<description><![CDATA[Dear all,

Is it fair to value inventory at updated standard costs even if the inventory item was manufactured at a time when standard costs were much lower?
 
Regards,
Grace



Hi Divine
I experienced this issue in 1995
It is fair and possible but all depends on the control and policies you have
IAS 2 allows you to use standard cost valuation for inventory in final reporting if standards approximate to actuals.  As you well say below the standards will always differ a lot to actuals particularly now (and so was the case in 1995) because of ...


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<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-forex-affect-on-construction-revenue/' rel='bookmark' title='Permanent Link: ForEx affect on construction revenue'>ForEx affect on construction revenue</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-budget/' rel='bookmark' title='Permanent Link: Budget'>Budget</a></li>
</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Prior year adjustment</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-prior-year-adjustment/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-prior-year-adjustment/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:23:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DEPRECIATION]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[IAS 8]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[REPORT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-prior-year-adjustment/</guid>
		<description><![CDATA[Dear all,
As I know , as per IFRS there is no prior year adjustment anymore ,
and back dated entries are not allowed once the year closed and
figures reported , Hence the actual variance will be booked in the
next year PL ,
example : if company A , estimated an income in 2007 and took a
provision for this income for 1M $ in 2007
The actual income received in 2008 for 2M$ , the
accounting entry will be reversing the 1M$ provision and Book the 1M$
variance in 2008 PL
My question is , As per ...


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<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-cutt-off-period/' rel='bookmark' title='Permanent Link: Cutt off period'>Cutt off period</a></li>
<li><a href='http://www.ifrslist.com/2008/12/14/loan-impairment/' rel='bookmark' title='Permanent Link: Loan Impairment'>Loan Impairment</a></li>
</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Exceptional Items vs. Extraordinary Items</title>
		<link>http://www.ifrslist.com/2008/12/15/exceptional-items-vs-extraordinary-items/</link>
		<comments>http://www.ifrslist.com/2008/12/15/exceptional-items-vs-extraordinary-items/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:23:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[DOWNLOAD]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[FAIR VALUE]]></category>
		<category><![CDATA[GAAP]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[IAS 32]]></category>
		<category><![CDATA[IFRS 2]]></category>
		<category><![CDATA[IFRS 3]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[INVESTMENTS]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[NON-RECURRING ITEMS]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-re-ifrs-list-exceptional-items-vs-extraordinary-items/</guid>
		<description><![CDATA[Any one please clarify me this&#8230;.
Hari


Hi Team,
Will any one clarify the difference between Exceptional Items &#38;
Extraordinary Items?
With reference to IFRS what is the disclosure policy for the both.
Thanks &#38; Regards,
Hari


Hi Hari,
to my understanding according to IAS 1 there was for several years the
possibility to show extraordinary items in the P+L (IAS 1.85). Since
2004 this seems to be no longer allowed according to Dr. David
Grünberger who is member in the Accounting Regulatory Committee in
Brussels which decides upon the endorsement of new IAS/IFRS standards
within the EU. According to US-GAAP extraordinary items are ...


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<li><a href='http://www.ifrslist.com/2008/08/27/asset-held-for-resale/' rel='bookmark' title='Permanent Link: Asset held for resale'>Asset held for resale</a></li>
</ol>]]></description>
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		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>Chinese GAAP</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-chinese-gaap/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-chinese-gaap/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:22:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[LOCAL GAAP vs IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[GAAP]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-chinese-gaap/</guid>
		<description><![CDATA[Apologies for an off-top, &#8211; would anybody be able to provide me with thelink to ASBEs (Chinese Accounting Standards) in English? 
I know that they are very close to IFRS, I have the Delloitepublication, just needed to see actual standards or at least a detailedand comprehensive summary. 
Thanks and have a great day/ evening. 
Tatiana



Hi Tatiana, 
have a look at: 
http://www.iasplus.com/resource/ref.htm 
for a start &#8211; I remember there are also other ressources besidesDeloitte, but don&#8217;t find them right now &#8230;   
I attach another document, probably the one you ...


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<li><a href='http://www.ifrslist.com/2008/12/15/where-can-i-find-pdf-copy-of-us-gaap-and-us-gaap-apb/' rel='bookmark' title='Permanent Link: Where can I find pdf copy of US GAAP and US GAAP APB?'>Where can I find pdf copy of US GAAP and US GAAP APB?</a></li>
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</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Capitalization of building costs</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-capitalization-of-building-costs/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-capitalization-of-building-costs/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:19:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
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		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-capitalization-of-building-costs/</guid>
		<description><![CDATA[All,
We are constucting a new building in our factory for which we of
course capitalize all the costs involved. However to build the new
building we had to tare down the old building that still had some book
value. Does anyone know if we would be able to capitalize the
bookvalue of the old building as part of the costs to construct the
new building or do we need to take the old book value directly to P&#38;L?
Best regards,
John


You can capitalize demolition costs themselves, but need to write-down
the Book Value of old building, because its ...


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</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>What is this ACCA?</title>
		<link>http://www.ifrslist.com/2008/12/15/what-is-this-acca/</link>
		<comments>http://www.ifrslist.com/2008/12/15/what-is-this-acca/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:16:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[TRAINING]]></category>
		<category><![CDATA[AICPA]]></category>
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		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[IFRS COURSES]]></category>
		<category><![CDATA[INTERNAL AUDIT]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SEC]]></category>
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		<category><![CDATA[STUDENT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-what-is-this-acca/</guid>
		<description><![CDATA[I&#8217;m a CPA from the US. Is the ACCA something I should join? I&#8217;m a
member of the IMA and the AICPA in the US. Is ACCA some kind of
upstart or does anyone find it to add value to their careers and is it
recognized by global employers?
Thanks for the opinions, mostly just curious here.


Dear Justin,
ACCA is a British qualification mostly recognisted by European based
mutlinational corporations, British in particular. Please also consider
CIMA which is also Brtish qualification with more focus on management
accounting (controlling). With both qualifications you can take IFRS
path.
Please visit www.accaglobal.com ...


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<li><a href='http://www.ifrslist.com/2011/06/21/ifrs-implementation-cum-global-qualification-on-3rd-july-2011-in-new-delhi/' rel='bookmark' title='Permanent Link: IFRS Implementation-cum-Global Qualification on 3rd July 2011 in New Delhi'>IFRS Implementation-cum-Global Qualification on 3rd July 2011 in New Delhi</a></li>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Training centre for IFRS course of ACCAI?</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-training-centre-for-ifrs-course-of-accai/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-training-centre-for-ifrs-course-of-accai/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:16:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[TRAINING]]></category>
		<category><![CDATA[AICPA]]></category>
		<category><![CDATA[AUDIT]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[CPA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
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		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IFRS]]></category>
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		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-training-centre-for-ifrs-course-of-accai/</guid>
		<description><![CDATA[Where can I find the training centre for IFRS in Mumbai &#8211; India, if I
register for course in IFRS with ACCA.
Regards
Asif


Asif,
ACCA provides Certification and Diploma in IFRS. You can take either
one of them as both are recognised. Certification is online but
Diploma in IFRS has examinations that are held every June &#38; December
with exam center being in Mumbai.
THanks
Puneet


Related posts:What is this ACCA?
IFRS lectures
IFRS Implementation-cum-Global Qualification on 3rd July 2011 in New Delhi



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</ol>]]></description>
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		</item>
		<item>
		<title>Budget</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-budget/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-budget/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:28:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[AUDIT]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[OTHER]]></category>
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		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-budget/</guid>
		<description><![CDATA[Dear All
 
Can any body tell me that is budget only for expenses or can be for Asset, liabilities and income also. My openion is it can be for all (Asset, liability, Expense and income). Please help me according to the IAS/IFRS.
&#8211;
Best regard...


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