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Articles tagged with: IFRS 3

DOCUMENTS, IFRS 3 Business Combinations »

[30 Nov 2011 | Comments Off | 54 views]
IFRS 3 – Business Combination

List of useful info, resources and documents available on other websites about IFRS 3 – Business Combination. Summary of IFRS 3 – IASPlus A guide to IFRS 3 (Deloitte 2008) Business Combination and changes in ownership interest Full Text of the IF…

DOCUMENTS, IFRS 3 Business Combinations »

[30 Nov 2011 | Comments Off | 39 views]
IFRS 3 – Business Combination

List of useful info, resources and documents available on other websites about IFRS 3 – Business Combination. Summary of IFRS 3 – IASPlus A guide to IFRS 3 (Deloitte 2008) Business Combination and changes in ownership interest Full Text of the IF…

DOCUMENTS, IAS 16, IAS 2, IAS 21, IAS 38, IAS 39, IFRS, IFRS 7, TRAINING »

[21 Jun 2011 | No Comment | 2,304 views]
IFRS Implementation-cum-Global Qualification on 3rd July 2011 in New Delhi

For finance and accounts professionals looking for an effective training on IFRS with special focus to India implementation.

DOCUMENTS, FAIR VALUE, FINANCIAL INSTRUMENTS, IAS 39 »

[28 Jan 2010 | One Comment | 3,264 views]
Speculative trading position on accrual accounted asset?

Hello all,
We have several positions of ‘commodity storages’ in our portfolio (oil storage tanks, underground gas storages, coal reserves…). These storages are considered as assets and are valued at a typical average winter/summer commodity sprea…

OTHER IFRS »

[5 Oct 2009 | No Comment | 3,179 views]

Question for anyone that has dealt with this issue:
As at its transition date, a company will need to review its assets (CGUs) for indicators of impairment. Some of the indicators suggested in IAS 36 refer to “the period”. Some indicators are current – as of that date.
I have assumed that “the period” refers to the previous annual period. This assumption is based on” (a) the fact that for a regular year, the period would refer to the previous annual period, and (b) IFRS 1 indicates that the same estimates used …

BUSINESS COMBINATION »

[18 May 2009 | 4 Comments | 4,170 views]

Dear All,
My question is that, in a situation of merger or business combination, where the structure is such that a new company A is formed to take over the businesses of B and C.
The question is whether IFRS 3 Business Combinations is applicable in this case as practically the entire IFRS 3 is based on an Acquirer and an Acquiree which are not present in this structure.
Thanks
Zuhar

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BUSINESS COMBINATION, CONSOLIDATION, DOCUMENTS, IFRS »

[15 May 2009 | 3 Comments | 3,564 views]
Consolidation – IFRS

Dear All,
Please let me know the treatment of Existing negative goodwill incase of first time adoption of IFRS
Regards
Chirag

CONSOLIDATION »

[14 May 2009 | 3 Comments | 6,824 views]

Hi all,
Can you please help me with the following queries. Thanks in advance!
1. Goodwill – On consolidation, is it possible to actually increase goodwill figures or can goodwill only be reduced/impaired?
2. IFRS 3 states that negative goodwill is to be credited to the income statement. So if we CR Income, what’s the other double entry?
Apologies if the questions are basic!
Thanks

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BUSINESS COMBINATION, CONSOLIDATION, DOCUMENTS »

[19 Mar 2009 | 3 Comments | 8,458 views]
Business Combinations, Consolidation (IFRS 3 and IAS 27) literature

Hello,

I am an Austrian student and I would like to write about consolidation. More specifically I am going to write a comparison between full consolidated corporations and consolidation at equity. As far as I know, equity consolidation exists as te…

IFRS »

[15 Dec 2008 | No Comment | 2,941 views]

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 would be shown in Z company’s F/S and which IAS/IFRS will cover this transaction ?
 
Also can any one share reconciliation between IFRS and US GAAP F/S ?
 
Advance thanks to every one
 
 
MM

Hi there,

My answer would be the following:
Y has a …

FINANCIAL INSTRUMENTS »

[15 Dec 2008 | No Comment | 4,257 views]

Dear all,
 
An answer to the following question would be much appreciated:
 
If no hedge accounting is applied, should all changes in fair value of derivatives be recognized as financial income or expense (so below operating result) or is recording of the change in fair value within operating result allowed?
 
 
Further, does anyone have one clear memo, including example journal entries of the various possble accounting issues (cf hedge, fv hedge net investment in foreign operation) applying hedge accounting and not-applying hedge accounting and if possible, all other accounting (including journal entries) not applying …

IFRS »

[15 Dec 2008 | 3 Comments | 33,358 views]

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 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 …

AUDIT, BUSINESS COMBINATION, CONSOLIDATION, DOCUMENTS, FAIR VALUE, IFRS, INTERNAL AUDIT »

[14 Dec 2008 | No Comment | 3,512 views]
Acquisition accounting

Dear all,
I have a question in relation to acquisition accounting in accordance with
IFRS3. In this case a parent company A acquires all the shares in
subsidiary company B for (say) 50M. This cost price represents a goodwill
over the fair value of the …

BUSINESS COMBINATION »

[28 Aug 2008 | No Comment | 2,074 views]

Suppose Entity A acquires Entity B in a business combination and all the considerations have been completed by 31 December 2007 except that government approval which was still pending as at year end. Should entity A consolidate Entity B as at 31 December 2007?

Regards,

Nyasha

I believe the answer lies in the issue of control. If the acquirer still does not have control, i.e. voting rights, directorship, active management, no consolidation should be done until Control is obtained. In the meantime, the Acquirer can book in the investments in subs as …

BUSINESS COMBINATION »

[28 Aug 2008 | No Comment | 2,369 views]

Dear All,
one of our Client has purchased a 100 % interest in a Subsidiarywhich is loss Making…
 
He has passed the following entry in their own books
 
Goodwill DR                120,000
Investment CR                          20,000       (Equity of subsidiary)
Payable to subsidiary              100,000        (purchase price)
 
My question is can Investment AC be -VE at initiation. and as far as i remember the initial recognition of an asset should be at its cost.and my plea to the Client is that the entry should be
 
Investment DR 100,000
                 Payable           100,000
and goodwill be shown in Consolidated ACs.
 
Kindly comment….and correct me if i am wrong.
 
Regards
I …

IFRS »

[28 Aug 2008 | No Comment | 5,612 views]

Dear all,

Good day!

A holding company had a subsidiary which is 100% owned. In 6 March 2006, the subsidiary issued new shares from $2 to $50,000 which changed the shareholdings from 100% to 40%.  As I read this is considered as deemed sale. The year ended of the holding company and the subsidiary is 31 December 2006.

These are my queries:

In view of the Holding company, how much is the equity take up considering the date of deemed sale?

In view of the holding company, how to compute for the gain/loss of the deemed …

IFRS »

[28 Aug 2008 | No Comment | 3,579 views]

Hello All
 
I am working on PPA Valuations for IFRS 3.
I have following two queries:
 

I want to understand the treatment of Deferred Taxes i.e. how are they calculated and accounted for, and whether deferred tax liability needs to be reduced from Purchase Price while calculating Goodwill.
How is tax amortization benefit calculated in valuation of intangible assets? If my intangible asset has a remaining life of say just 4 years, what should be my amortization period?

 
Kindly advise.
 
Thanks and Regards,
 
Tejal.
 

Deffered Tax is to be considered in PPA excercise

Shabi

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IFRS »

[28 Aug 2008 | No Comment | 2,487 views]

Hi,
What disclosures does a company need to give for Interest rate swaps and which standards are applicable for this.
Thanks
Aneel

 

Hi Prethy

 

Actually available for sale is an open category that means that if company did not decide where to classify it can be classified as  available for sale. However for held for trading investments are bought to resell for short term gain rather to earn dividend but available for sale normally includes investment which are not held for short term gain rather which are carried for earning long term capital gain or dividend …

IFRS »

[27 Aug 2008 | No Comment | 2,461 views]

Hi…
 
Anyone can help me about intangible assets?
 
Documents, e-books, …
 
thank’s and enjoy the weekend!
 
Daniel

You need to be a little more specific on your question. 
-Sonny

Hi Daniela,
 
www.answer.com and www.wykipedia would give you details and examples.
 
e.i. bons, shares,

 
U CAN VISIT www.intangiblebusiness.com

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IFRS »

[27 Aug 2008 | No Comment | 2,961 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 …