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<channel>
	<title>IFRS LIST.com &#187; EXPENSES</title>
	<atom:link href="http://www.ifrslist.com/tag/expenses/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.ifrslist.com</link>
	<description>The Community about IAS/IFRS, International Accounting</description>
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		<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>
		<category><![CDATA[PPE]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[SHARE]]></category>

		<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/2008/12/15/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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		</item>
		<item>
		<title>Capitalization of Visa Charges</title>
		<link>http://www.ifrslist.com/2008/12/15/capitalization-of-visa-charges/</link>
		<comments>http://www.ifrslist.com/2008/12/15/capitalization-of-visa-charges/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 23:38:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DEPRECIATION]]></category>
		<category><![CDATA[DOWNLOAD]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[PPE]]></category>
		<category><![CDATA[REPORT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-capitalization-of-visa-charges/</guid>
		<description><![CDATA[Dear All
Greeting
In UAE work visa would be for 3 years and cost would be paid by the
employer and in my company it is practice to debit as administration
expense. Employees must has to complete 3 years and if he/she leave
the job prior to three years he has to pay back the full visa cost to
company.
In my opinion it should be capitalized and depreciated for three years
to meet fair presentation of financial reporting standard.
Please suggest appropriate treatment
Regards,
Ahmad


Dear Ahmad,
I think you should put the cost in prepayments and write-off against
admin expenses during the ...


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<li><a href='http://www.ifrslist.com/2008/12/14/capitalization-of-wip/' rel='bookmark' title='Permanent Link: Capitalization of WIP'>Capitalization of WIP</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>
		<category><![CDATA[PROJECT]]></category>
		<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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		<slash:comments>0</slash:comments>
		</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, ...


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<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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		</item>
		<item>
		<title>Preliminery expenses</title>
		<link>http://www.ifrslist.com/2008/12/15/preliminery-expenses/</link>
		<comments>http://www.ifrslist.com/2008/12/15/preliminery-expenses/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:21:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[BUSINESS COMBINATION]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[IAS 16]]></category>
		<category><![CDATA[IAS 38]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[OVERHEAD]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[SHARE]]></category>
		<category><![CDATA[SHARE CAPITAL]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-preliminery-expenses/</guid>
		<description><![CDATA[Dear All,
The Company was incorporated in Oct 2007.Could you please give your
expert opinion on the treatment of preliminary expenses (Revenue
generation is not yet started) e.g. rent, salary, traveling etc.
incurred during Oct 2007- Aug 2008. Please reply in reference to IFRS.
Revenue is expected in Sept 2008.
In my view, preliminary expenses can be accumulated and amortized when
revenue is started due to matching concept.
BestRegards,
Hemant


Preliminary expenses / startup costs, etc. cannot be deferred. They
have to be charged off to income statement in the year of actual
startup of operations.
&#8211;
Thanks &#38; Regards
Anand


Hemant,
Whether to Deffer the preliminary ...


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<li><a href='http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-capitalising-expenses/' rel='bookmark' title='Permanent Link: CAPITALISING EXPENSES'>CAPITALISING EXPENSES</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/revenue-recognition-and-provision/' rel='bookmark' title='Permanent Link: Revenue recognition and provision'>Revenue recognition and provision</a></li>
</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>PLEASE GIVE ME AN IDEA HOW TO TREAT?</title>
		<link>http://www.ifrslist.com/2008/12/15/please-give-me-an-idea-how-to-treat/</link>
		<comments>http://www.ifrslist.com/2008/12/15/please-give-me-an-idea-how-to-treat/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:19:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CASH]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[GAAP]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 2]]></category>
		<category><![CDATA[PPE]]></category>
		<category><![CDATA[SHARE]]></category>
		<category><![CDATA[US GAAP]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-please-give-me-an-idea-how-to-treat/</guid>
		<description><![CDATA[Hi all,
A non-profit organisation based in Virginia, USA was donated part of
real estate&#8217;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.
Thank you
Aklilu


Hi,
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 ...


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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/2008/12/15/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>Date of comercial production</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-date-of-comercial-production/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-date-of-comercial-production/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 23:41:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IAS 16]]></category>
		<category><![CDATA[IAS 38]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[TAX]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DEPRECIATION]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[INTANGIBLE ASSETS]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[PROJECT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-date-of-comercial-production/</guid>
		<description><![CDATA[Dear all,
can anyone please guide me if there are any guidelines as to establish
date of commercial production in a manufacturing concern in IFRS.
thanks and regards
deepak


Hi Deepak,
I assume you are inferring to either intangible assets.
There is n...


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<li><a href='http://www.ifrslist.com/2008/12/15/interest-capitalization/' rel='bookmark' title='Permanent Link: Interest Capitalization'>Interest Capitalization</a></li>
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</ol>]]></description>
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		<slash:comments>0</slash:comments>
		</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>
		<category><![CDATA[TAX]]></category>
		<category><![CDATA[BUDGET]]></category>
		<category><![CDATA[CASH]]></category>
		<category><![CDATA[CASH FLOW]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 37]]></category>
		<category><![CDATA[INTERCOMPANY]]></category>
		<category><![CDATA[INVENTORY]]></category>
		<category><![CDATA[IRR]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[LOAN]]></category>
		<category><![CDATA[PPE]]></category>
		<category><![CDATA[PROJECT]]></category>
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		<category><![CDATA[SHARE]]></category>

		<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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</ol>]]></description>
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		</item>
		<item>
		<title>Cash basis – accrual basis</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-cash-basis-accrual-basis/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-cash-basis-accrual-basis/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:27:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[AUDIT]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[TAX]]></category>
		<category><![CDATA[ACCRUAL]]></category>
		<category><![CDATA[CASH]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[REPORT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-cash-basis-accrual-basis/</guid>
		<description><![CDATA[Dear all,
during an interview I was asked this question and I am still in doubt about the reply.
If you need to audit an entity which is going to change from a cash basis to an accrual basis accounting system, what would you audit first and why?
Thanks...


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<li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-budget/' rel='bookmark' title='Permanent Link: Budget'>Budget</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/cost-allocation-basis-of-internal-audit-fee-between-2-entities/' rel='bookmark' title='Permanent Link: Cost allocation basis of internal audit fee between 2 entities'>Cost allocation basis of internal audit fee between 2 entities</a></li>
</ol>]]></description>
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		</item>
		<item>
		<title>Just one question</title>
		<link>http://www.ifrslist.com/2008/12/14/just-one-qustion/</link>
		<comments>http://www.ifrslist.com/2008/12/14/just-one-qustion/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 18:42:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IAS 38]]></category>
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		<description><![CDATA[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
 
thank you
 
Mahmoud Gbr
Auditor




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.
 
Thank you,
Regards,
Debdulal



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 ...


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<li><a href='http://www.ifrslist.com/2008/12/15/microsoft-licence/' rel='bookmark' title='Permanent Link: Microsoft licence &#8230;.'>Microsoft licence &#8230;.</a></li>
</ol>]]></description>
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		</item>
		<item>
		<title>IFRS 7</title>
		<link>http://www.ifrslist.com/2008/12/14/ifrs-7-2/</link>
		<comments>http://www.ifrslist.com/2008/12/14/ifrs-7-2/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 16:27:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[FINANCIAL INSTRUMENTS]]></category>
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		<category><![CDATA[CASH]]></category>
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		<description><![CDATA[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
Reconciliation of carrying amounts by classes of financial instruments to IAS 39 measurement categories (at least these categories are HTM, AFS, FVTPL, Loans and Receivables). An entity shall make the decision which classes of financial instruments are appropriate to the nature of the information disclosed taking into account the characteristics of those financial instruments.


Requirement 2
Description of processes for managing the ...


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		<item>
		<title>Income Statements</title>
		<link>http://www.ifrslist.com/2008/12/14/fwd-ifrs-list-income-statements/</link>
		<comments>http://www.ifrslist.com/2008/12/14/fwd-ifrs-list-income-statements/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 16:26:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IFRS]]></category>
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		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-income-statements/</guid>
		<description><![CDATA[I am looking for a few things:1) Quality example of financial statements with the income statement
presenting expenses classified by nature (as opposed to function).2) Quality example of early adoption of the amendments to IAS 1 with
a) Statement of Comprehensive income as one statement, and b)
Statement of Income separate from Statement of Comprehensive income.Any help on either appreciated, thanksGord


Related posts:Preliminery expenses
Budget
IFRS-1



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		<item>
		<title>PRIOR YEARS&#8217; EXPENSES</title>
		<link>http://www.ifrslist.com/2008/08/28/re-ifrs-list-prior-years-expenses-2/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-ifrs-list-prior-years-expenses-2/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 15:23:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[EXPENSES]]></category>

		<guid isPermaLink="false">http://ifrslist.wordpress.com/2008/08/28/re-ifrs-list-prior-years-expenses/</guid>
		<description><![CDATA[






Q. How are &#8216;Prior year&#8217;s expenses defined and treated?




Hi IFRS
it will be treated as lablity for the caming  year





Prior year expenses are expenses incurred / related to prior year but booked in current year. Such expenses must be shown separately.
&#8211;
Thanks &#38; Regards








Related posts:Prior year adjustment
How to recognize revenue for mall if 10 years tennacy contract but 8 years paid and two years for free?
Preliminery expenses



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		<title>Cutt off period</title>
		<link>http://www.ifrslist.com/2008/08/28/re-ifrs-list-cutt-off-period/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-ifrs-list-cutt-off-period/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 15:08:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
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		<description><![CDATA[





Hi , 

 If provision for Bonus was taken in 2007 for X amount and financial statements for 2007 closed and reported , and in 2008 the payout of Bonuses was more than the provisions amount. As per IFRS , what is acceptable?? 
1- should we classify the over expensed amount as Prior year expenses ( is this accp as per IFRS )
2- should i expense this amount in 2008 ?
I used to do this as prior year expenses , but i heard that as per IFRS now we should ...


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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>
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		</item>
		<item>
		<title>Fixed vs Variable Wage Expense</title>
		<link>http://www.ifrslist.com/2008/08/28/re-yan-ifrs-list-fixed-vs-variable-wage-expense/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-yan-ifrs-list-fixed-vs-variable-wage-expense/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 15:06:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
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		<guid isPermaLink="false">http://ifrslist.wordpress.com/2008/08/28/re-yan-ifrs-list-fixed-vs-variable-wage-expense/</guid>
		<description><![CDATA[Dear Ali,
It is very nice for me to see your name in our group since I have remember our past in Arthur Andersen.
 
Referring to your question, I think the fixed part should be evaluated as fixed and the overtime part as variable.
 
Kind regards,
 
Alper


Hello All &#8230;


This is an interesting question &#8211; but I would argue that the simple &#8216;variable &#8211; v &#8211; fixed&#8217; cost focus is constrained if one doesn&#8217;t take a broader view of these costs.
As clearly the (&#8220;blue-collar&#8221;) labour involved is a &#8216;Cost of Sales&#8217;, the amount of labour ...


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		<title>Foreign exchange loss/gain</title>
		<link>http://www.ifrslist.com/2008/08/28/re-ifrs-list-foreign-exchange-lossgain/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-ifrs-list-foreign-exchange-lossgain/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 14:43:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
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		<description><![CDATA[Dear all,
I cannot find how can I book the fx loss, gain into profit and loss
account. Should I book it as other cost/revenue or financial
cost/revenue?
&#8211;
Taczmann


Book it as a separate component of financial expenses and income, so the
categories should be:
Interest income
Interest expense
Foreign currency gains (losses)
Net financial results = sum
Kind regards,
Henk


Dear Judit
In practice most of the company showing FX charges in  Financial
charges.
With Best Wishes and Regards





Thank you for your answer, however in Austrian GAAP, the f/x loss is
shown as other cost and f/x gain on a/p or a/r is shown as other
revenue. ...


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		<item>
		<title>Please guide on this</title>
		<link>http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-please-guide-on-this/</link>
		<comments>http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-please-guide-on-this/#comments</comments>
		<pubDate>Wed, 27 Aug 2008 20:51:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
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		<description><![CDATA[

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 ...


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		<item>
		<title>First round interview at Deloitte</title>
		<link>http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-first-round-interview-at-deloitte/</link>
		<comments>http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-first-round-interview-at-deloitte/#comments</comments>
		<pubDate>Wed, 27 Aug 2008 20:48:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[AUDIT]]></category>
		<category><![CDATA[AUDIT PROGRAM]]></category>
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		<description><![CDATA[
Dear All
 
I am going to attend a job interview at Deloitte about the position of Audit. My BA and MPhil degree are not relevant to accounting or finance, and I don&#8217;t have any background knowledge about audit. I know in the interview you might ask me to give some examples of working in a team or under pressure, and I can handle them. However, I do not have much knowledge about business issues or what exams I will take in the first year. Can anyone tell me how to get ...


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</ol>]]></description>
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		</item>
		<item>
		<title>CAPITALISING EXPENSES</title>
		<link>http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-capitalising-expenses/</link>
		<comments>http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-capitalising-expenses/#comments</comments>
		<pubDate>Wed, 27 Aug 2008 20:47:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[BUDGET]]></category>
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		<category><![CDATA[EXPENSES]]></category>
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		<description><![CDATA[



Morning All, 
Our company incurs a lot of expenses in terms of projects work like traveling. Substance, entertainment allowances etc 
We also do incur expense interims of the preliminary expenses like site visits, negotiating meetings.
 
Are these expenses to be expensed or capitalized as we seems to have a different view of this from IAS 16.
Secondly before we begin any project we are supposed to remit 0.1% of the project cost as a government requirements to Environmental authority . Should such expenses be capitalized as per IAS 16 para 11
 ...


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</ol>]]></description>
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