Hi: Good morning: Henk:
Would you be kind to let me know the IFRS – IAS 2 concerning to ret realizable value and write-off: 1. How to handle the declined value of inventory stocks? 2. What is the correct procedure to write-down of damaged or obsolete items?
Thanks for your assistance.
Raymond

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Dear all,
 
Earlier i asked about IAS 20, “Government Grants” but i think i was not able to convey my querry properly. Let me ask the same again with an illustration:
 
Suppose an entity (A) which is owned by Government (B).
Another Government (C) provide a donation in kind (in the shape of assets).
Will this grant be accounted for under IAS-20?, or,
Whether the grant is excluded from the scope of IAS-20 (through exclusion paragraph)?
Please let me guide about treatment of this grant.
 
Thanks,
 
 
Sami

Yes a government grant is a government grant whether it is used …

Arial;”>Hi
 
When a parent company preperaing consolidated financials lost control and reaches significant influence , attracking equity method.
 
The change in ownership of subsidiary should be accounted for subsequently or to restate the prior period.
 
That is equity method should be applied from the date of change or should do this restructring from prior period financial staement presented.
thanks
With Best Wishes and Regards
SHABI

 
Dear Shabih,
 

 
When part of an investment in a subsidiary is sold during the reporting period, the parent should record its investment after the disposal in the consolidated accounts as follows:
- If a …

Dear all,
 
I have a querry in IAS 20- Government Grants:
 

In the scope paragraph of the standard, those entities are excluded from the applicability of this standard which are owned by “Government”.

Q) My querry is that which government is refered in this paragraph?
        a) That Government which has provided grant to the reporting entity?
        b) Any government?
 
The confusion arises as in case the grant is given by the same government which also owns that entity, this standard do not apply to that standard altogether. As the owners contribution, in any form …

Hello,
Does anyone know where the best place to find
information on capitalizing internal software
development under IFRS?  Any links?  Which IAS/IFRS
standard is this covered under?
Thanks in advance for the help!

You raise an interest topic David,  I would like to see the view of others

In the meantime page 56 of the differences between IFRS and US GAAP might help you as in the latter some software deveopment costs can be capitalised which would imply that under IFRS they are not but let us see what the others say

I am sending this to you …

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 to be disclosed or adjusted.
 
Thanks and regards

IAS 1 is the overall standard to refer to:

Materiality and Aggregation
29.        Each material class of similar items shall be presented separately in the financial statements.  Items of a dissimilar nature or function shall be presented separately unless …

Dear All
can some one explain the Para 19 of IAS 2.I want an example of the inventory held by a service provider.
 
Thanks and regards

–
Kamran

Inventories held by service providers are those which will be used incourse of providing services like an Electrician may provide serviceto his clients and can use some switches, wires etc.

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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 …