Dear all

My Company has an outstanding USD loan of say US$10m and as our main subsidiaries are operating in China and earns revenue denominated in RMB, which will ultimately flow to our company in terms of RMB dividend (converted to USD due to exchange regulation in PRC).
As we need to make periodic payments say US$1m every quarter, we are considering entering forex contracts to fix the USD/RMB rate that matches the payments (i.e. 10 contracts @US$1m each @ either same conversion price or different conversion price).
How should we disclose …

Can anyone confirm if the PRC has officially transitioned to full IFRS GAAP reporting and if so, what was the effective date?  Are companies mandated to report in IFRS GAAP or can they still report in PRC GAAP up to a certain point?
Thanks for any clarification any of you can provide.
Also, if you have any resources you might refer me to, that would be great.
Debbie

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If an institution is recognizing income by using flat rate method, but IFRS requires to recognize by using effective rate method. My questions are:
a) policy remains but financial statements it should be based on effective rate. Is it?
b) How to convert portfolio by using effective rate.?
 
 
asim

I don’t think so, see this link

 
http://en.wikipedia.org/wiki/IFRS
 

Hello:
 
Can anyone confirm if the PRC has officially transitioned to full IFRS GAAP reporting and if so, what was the effective date?  Are companies mandated to report in IFRS GAAP or can they still report in PRC GAAP up …