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IFRS »

[27 Aug 2008 | No Comment | 1,599 views]

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 …

IFRS »

[27 Aug 2008 | No Comment | 1,672 views]

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 …

IFRS »

[27 Aug 2008 | No Comment | 2,365 views]

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 …

IFRS »

[27 Aug 2008 | No Comment | 2,784 views]

Do I email you to suggest a new topic?

I saw that the disclosures for IAS 7 were a recent topic of interest.  I thought readers might be interested in reading about disclosures required for IAS 12.
IAS 12 (Income Taxes) requires a minimum of five disclosures, and potentially more than fifteen, depending on the complexity of the organization and their taxes.  Two good resources are www.taxstream.eu/ias_12 and http://www.iasplus.com/standard/ias12.htm.
Hope that helps.

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IFRS »

[27 Aug 2008 | No Comment | 1,976 views]

Does anyone have any interest in working on a research project of how IFRS have affected debt covenants in their country?


Regards/Saludos
Stephen

Dear Stephen,
 
I would be really glad to help you out with this project. But in my country we still haven’t implemented IFRS framework, we are going to do that on January 1, 2009.

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IFRS »

[27 Aug 2008 | No Comment | 3,056 views]

Dear Elena,
I understand that accounting standards for smes are still in the drawing boards after asking for comments and suggestions from different sectors. I am a practising accountant in the Philippines.  My concern is on the issue of not-for-profit organization, which in the Philippine context are also known as non-government organizations (NGO’s). These NGO’s are generally funded by grants both from domestic and international funding agencies which have their own reportorial requirements aside from statutory requirements of state regulatory bodies. To satisfy both “users” ,  the  NGO will need to prepare both  special purpose and general purpose …

IFRS »

[27 Aug 2008 | No Comment | 1,521 views]

Forwarded conversationSubject: [IFRS List] standards for sme's:not for profit organizations ————————
From: ann silvers <annsilvers@yahoo.com>Date: Wed, Nov 28, 2007 at 11:40 AM To: ifrs@ifrslist.com

On 11/27/07, ann silvers <annsilvers@yahoo.com> wrote:

November 27, 2007
 
Dear Elena,
 
I understand that accounting standards for smes are still in the drawing boards after asking for comments and suggestions from different sectors.
 
I am a practising accountant in the Philippines.  My concern is on the issue of not-for-profit organization, which in the Philippine context are also known as non-government organizations (NGO's).
 
These NGO's are generally funded by grants both from domestic and international funding …

IFRS »

[27 Aug 2008 | No Comment | 2,705 views]

Dear IFRS List Folks
Hi I am a  Professor of Accounting at The University of Texas at EL Paso. I have been reading the many emails on this list and I wonder if any of you might be willing to tell me how the change to IFRS from their own GAAP has affected Debt covenants?
Thanks and Regards
Stephen

Hi Stephen,
regarding  to your request,  I don´t see any change on Debt covenants after IFRS application in Slovakia.  
However I´m not sure I understand your question correctly.  Could you describe deeper that case ?
I´m from  Slovakia (Midd Europe). We …

IFRS »

[27 Aug 2008 | No Comment | 2,379 views]

Hi,
I have just recently starting working in a country that is about to adopt IFRS (2009) and was wondering if anyone had had experience with possible violations to debt covenants during the transition period. I am guessing that clients will have to communicate with their banks about the impact IFRS will have on their outstanding debt and request a document stating that the banks will request the payment on demand in the case of a violation.
I am not sure if clients have realized this potential impact of going to IFRS, but …

IFRS »

[27 Aug 2008 | No Comment | 2,963 views]

Hi,

 
My name is Aashima Tandon. Can anybody tell me what exactly is asset held for sale and negative goodwill? What

Hi there,
sale?

Assets held for sale include assets (or groups of
assets to be disposed of) whose carrying amount will
be recovered principally through a sale transaction
rather than through continuing use.
What would be its treatment?
In accordance with IFRS (IFRS 5), discontinued
operations/assets held for sale are measured
at the lower of their carrying amount or fair value
less costs to sell.
Discontinued operations/assets held for sale are
presented in the financial statements as follows:
• On the balance …

IFRS »

[27 Aug 2008 | No Comment | 8,221 views]

Dear All
 
Please advise your views whether subject item does come under the scope of IAS 23 or IAS 39. The loan facility is repayable in 30 years and interest rate is variable interest rate and we hedge the interest rate by taking interest swap contracts with banks.
 
In case someone needs more facts to get to the bottom of the case, Please let me know.
 
with regards
Ram

Dear Ram,
My first reaction would be IAS 39 and not IAS 23 unless the case is that you want to capitalize these costs as part of …

IFRS »

[27 Aug 2008 | No Comment | 1,436 views]

Hi,

 
I  want to know more about IFRS, even though our country doesn’t apply it, but I am sure IFRS will be the leader for accounting world. At  first,  I am thinking of getting US CPA license, but I do not think it will be useful after several years.  please let me know if i am correct? and I want to know if i want to get license related to IFRS, can someone tell me what kind if license is related to IFRS?
and please tell me some information for it.
I appreciate it.
 

Sherry

Hi Sherry, as far …

IFRS »

[27 Aug 2008 | No Comment | 2,024 views]

Forwarded conversationSubject: [IFRS List] IFRS 7 disclosures————————
From: Sandeep Cardoza <cardoza_sandeep@yahoo.co.in>Date: Sun, Oct 28, 2007 at 9:04 AM To: ifrs@ifrslist.com

Hello there
 
i am new to the group !!
 
I work for a trading company and was wonder what a re new disclosures need to made to complie with IFRS 7 as we dont not hold any debts on liablity side 
Best regards,
Sandeep Cardoza

Get the freedom to save as many mails as you wish. Click here to know how.
———-From: Jakub Rutkowski <jakub.rutkowski@wp.pl>Date: Mon, Oct 29, 2007 at 1:12 PMTo: ifrs@ifrslist.com

Dear Sandeep,
 
I …

IFRS 7 »

[4 Dec 2007 | No Comment | 12,782 views]

I understand you might not have any debt or financial assets, but as trading company
you must have some trade receivables (trade debtors). The credit losses (bad debts) recognition/reconciliation is the something you need to disclosue under IFRS7.
In addition you need to have disclousures about accounting policies dealing with financial instruments.
Regards,

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