IFRS 3

/Tag:IFRS 3

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...

By |November 30th, 2011|DOCUMENTS, IFRS 3 Business Combinations|Comments Off on IFRS 3 – Business Combination

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...

By |November 30th, 2011|DOCUMENTS, IFRS 3 Business Combinations|Comments Off on IFRS 3 – Business Combination

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.

By |June 21st, 2011|DOCUMENTS, IAS 16, IAS 2, IAS 21, IAS 38, IAS 39, IFRS, IFRS 7, TRAINING|0 Comments

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...

By |January 28th, 2010|DOCUMENTS, FAIR VALUE, FINANCIAL INSTRUMENTS, IAS 39|1 Comment

Assessing for Impairment Indicators on Transition Date

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 [...]

By |October 5th, 2009|OTHER IFRS|0 Comments

IFRS 3 – Business Combination

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 [...]

By |May 18th, 2009|BUSINESS COMBINATION|4 Comments

Consolidation – IFRS

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

By |May 15th, 2009|BUSINESS COMBINATION, CONSOLIDATION, DOCUMENTS, IFRS|3 Comments

Consolidation – Goodwill related questions

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 [...]

By |May 14th, 2009|CONSOLIDATION|3 Comments

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...

By |March 19th, 2009|BUSINESS COMBINATION, CONSOLIDATION, DOCUMENTS|3 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

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

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 ...

Effective date of business combination

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 [...]

By |August 28th, 2008|BUSINESS COMBINATION|0 Comments

IFRS 3 Business Combination

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 think the entry you proposed is correct as goodwill from acquisition would only be shown in consolidated a/c.  […]

By |August 28th, 2008|BUSINESS COMBINATION|0 Comments

Deemed sale of subsidiary

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 [...]

By |August 28th, 2008|IFRS|0 Comments

Deferred Taxes

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 [...]

By |August 28th, 2008|IFRS|0 Comments

Interest rate Swaps

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 [...]

By |August 28th, 2008|IFRS|0 Comments

IFRS 38

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

By |August 27th, 2008|IFRS|0 Comments

Asset held for resale

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. [...]

By |August 27th, 2008|IFRS|0 Comments