EQUITY

/Tag:EQUITY

New book “Accounting for Equity and Other Comprehensive Income: Dual Reporting Under U.S. GAAP and IFRSs”.

The book “Accounting for Equity and Other Comprehensive Income: Dual Reporting Under U.S. GAAP and IFRSs”, by Francesco Bellandi, CPA, CA, ACCADipIFR, MBA, Sapienza Rome State University Press is now available on-line at at Dualgaap.com or Casalini.com. Paperback purchases can be ordered at redazionecasaeditrice@uniroma1.it. This book examines and compares the reporting of stockholders’ equity as [...]

By |November 17th, 2009|IFRS, LOCAL GAAP vs IFRS|1 Comment

Accounting treatment for Increase in Equity-share Mkt. Price at FY- Closing.

Dear All, This is regarding, i have an investment in Equity shares (100,000 @16) of listed company, where as at 31st Dec.2008 Mkt. Price for these shares was 31 per share. i want to know this increase in share price how i will realise as at closing of FY-2008, by which accounts and in which [...]

By |February 18th, 2009|OTHER IFRS|8 Comments

Termination provisions

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&L as and when it occurs? Many [...]

By |December 15th, 2008|IFRS|0 Comments

Investment decision

Dear Every one, Can any one help to solve the following problems:     Say, XY is a joint venture company between X & Y with 70:30 proportion with issued capital of  $100. Now, Y intends to offload its share to Z company for a consideration of $ 80. Now the question is how this investment [...]

By |December 15th, 2008|IFRS|0 Comments

IFRS-1

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.   Thanks   Sincerely yours, Rakesh dear rakesh pls read ifrs 1 and see the exemption given for the same there are 10 exemptions Regards Jignesh [...]

By |December 15th, 2008|IFRS|0 Comments

Interest Capitalization

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 [...]

By |December 15th, 2008|IFRS|0 Comments

Valuation Method

Dear all. I have a question on valuation of equity investments. What is the best method to value an unquoted investment Cheers Shehzad   Well for unquoted investment you could: If there is substantial market and volume of such equity in the market then, you could value it using market price. If there is not [...]

By |December 15th, 2008|IFRS|0 Comments

Capitalization

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. -- Hesham I agree with Hesham, it is to be capitalised, modification & refurnishing extends the [...]

By |December 15th, 2008|IFRS|0 Comments

Calculation of deferred tax

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 [...]

By |December 15th, 2008|TAX|0 Comments

IFRS 5

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 [...]

By |December 15th, 2008|OTHER IFRS|0 Comments

Prior year adjustment

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 [...]

By |December 15th, 2008|IFRS|0 Comments

Exceptional Items vs. Extraordinary Items

Any one please clarify me this.... Hari Hi Team, Will any one clarify the difference between Exceptional Items & Extraordinary Items? With reference to IFRS what is the disclosure policy for the both. Thanks & Regards, Hari Hi Hari, to my understanding according to IAS 1 there was for several years the possibility to show [...]

By |December 15th, 2008|IFRS|3 Comments

Where can I find pdf copy of US GAAP and US GAAP APB?

Do anyone know where I can download copy of US GAAP and US GAAP APB? Thanks Dessanti for your answer Our position is less than 1%, we bought in the active market Euro a little position to speculate in market price. The IAS 39 don't include equity investment as applicable financial asset to recognized the [...]

By |December 15th, 2008|LOCAL GAAP vs IFRS|0 Comments

PPP

Hi   Please give me your opinion on forex loss on Assets. Do you capitalize it or do expense it to the foreign loss This e-mail message and any attachment hereto are confidential information intended for a specific addressee and purpose.  If you ...

By |December 14th, 2008|CONSOLIDATION, DOCUMENTS, IAS 2, IAS 21, IFRS|0 Comments

Financial instruments

Does it exist a definition for financial instruments? I am confused with the different perceptions of financial instruments. Thanks. Sincerely yours Emilio   Dear Emilio,   a Financial instrument is any contract that gives rise to a financial ass...

By |December 14th, 2008|DOCUMENTS, FINANCIAL INSTRUMENTS, IAS 2, IAS 21, IAS 39, IFRS, IFRS 7|0 Comments

Budget

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. – Best regard...

By |December 14th, 2008|AUDIT, IFRS, OTHER, TAX|0 Comments

Loan Impairment

Is there any guideline for measurement of loan impairment and recognition of interest income by using effective rate method Asim 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 [...]

By |December 14th, 2008|IFRS|0 Comments

Equity investments AFS is a non-monetary items?

Hi all, We need some guidance in connection to apply the rules explained in IAS 21 related to if investments AFS in capital instruments is a non-monetary item.  Theses equity investments were made without the intention of take control on any compa...

By |December 14th, 2008|DOCUMENTS, FAIR VALUE, FINANCIAL INSTRUMENTS, IAS 16, IAS 2, IAS 21, IAS 39, IFRS|0 Comments

IFRS 7

Hi   Please let me know the salient points in IFRS 7 which has been recently been made a mandatory disclosure in the audited financial statements. Regards Raghavan     Under IFRS 7 there are 12 requirements:   Requirement 1 Reconciliat...

By |December 14th, 2008|AUDIT, DOCUMENTS, FAIR VALUE, FINANCIAL INSTRUMENTS, IAS 39, IFRS, IFRS 7|0 Comments

Share application monies

Sirs and madam, would like too seek help on how to disclose a share application monies? thanks… jinn […]

By |August 28th, 2008|FINANCIAL INSTRUMENTS|0 Comments