Accounting Community Forum - IFRS & US GAAP - Recent questions and answers https://www.accountantanswer.com/qa Powered by Question2Answer Answered: Liability for unearned rentals https://www.accountantanswer.com/2414/liability-for-unearned-rentals?show=4307#a4307 General IFRS Discussion https://www.accountantanswer.com/2414/liability-for-unearned-rentals?show=4307#a4307 Fri, 20 Jan 2023 13:34:35 +0000 Answered: How to convert inventory to investment property https://www.accountantanswer.com/3133/how-to-convert-inventory-to-investment-property?show=4306#a4306 General IFRS Discussion https://www.accountantanswer.com/3133/how-to-convert-inventory-to-investment-property?show=4306#a4306 Thu, 19 Jan 2023 19:01:02 +0000 Answered: How to measure and recognise development cost https://www.accountantanswer.com/3006/how-to-measure-and-recognise-development-cost?show=4305#a4305 IAS 38 - Intangible Assets https://www.accountantanswer.com/3006/how-to-measure-and-recognise-development-cost?show=4305#a4305 Thu, 19 Jan 2023 18:51:20 +0000 Answered: IFRS 16 rebates (bonuses) https://www.accountantanswer.com/2952/ifrs-16-rebates-bonuses?show=4304#a4304 IAS 17 - Leases https://www.accountantanswer.com/2952/ifrs-16-rebates-bonuses?show=4304#a4304 Thu, 19 Jan 2023 18:50:20 +0000 Answered: Is recharge of expenses between related parties considered a related party transaction which requires disclosure? https://www.accountantanswer.com/2899/recharge-expenses-considered-transaction-requires-disclosure?show=4303#a4303 IAS 24 - Related Party Disclosures https://www.accountantanswer.com/2899/recharge-expenses-considered-transaction-requires-disclosure?show=4303#a4303 Thu, 19 Jan 2023 18:46:54 +0000 Answered: Are payments to customers to settle a dispute always a reduction to revenue? https://www.accountantanswer.com/2623/payments-customers-settle-dispute-always-reduction-revenue?show=4302#a4302 606 Revenue From Contracts With Customers https://www.accountantanswer.com/2623/payments-customers-settle-dispute-always-reduction-revenue?show=4302#a4302 Thu, 19 Jan 2023 18:43:50 +0000 Answered: What is a share capital fund? https://www.accountantanswer.com/2782/what-is-a-share-capital-fund?show=4301#a4301 General Accounting Q&A https://www.accountantanswer.com/2782/what-is-a-share-capital-fund?show=4301#a4301 Thu, 19 Jan 2023 18:29:16 +0000 Answered: How to expense “stamp tax” of 3 years’ contract-which is % of total 3 years' budget as per IFRS? In 3 years or directly? https://www.accountantanswer.com/2682/expense-stamp-years-contract-which-total-budget-years-directly?show=4300#a4300 General IFRS Discussion https://www.accountantanswer.com/2682/expense-stamp-years-contract-which-total-budget-years-directly?show=4300#a4300 Thu, 19 Jan 2023 18:25:22 +0000 Answered: What does a Trust company need to do to adopt IFRS for SMEs? https://www.accountantanswer.com/2574/what-does-a-trust-company-need-to-do-to-adopt-ifrs-for-smes?show=4299#a4299 General IFRS Discussion https://www.accountantanswer.com/2574/what-does-a-trust-company-need-to-do-to-adopt-ifrs-for-smes?show=4299#a4299 Thu, 19 Jan 2023 18:24:23 +0000 Answered: IRFS 9 Financial instrument https://www.accountantanswer.com/2537/irfs-9-financial-instrument?show=4298#a4298 General IFRS Discussion https://www.accountantanswer.com/2537/irfs-9-financial-instrument?show=4298#a4298 Thu, 19 Jan 2023 18:22:40 +0000 Answered: Capitalise installation fees https://www.accountantanswer.com/2526/capitalise-installation-fees?show=4296#a4296 General Accounting Q&A https://www.accountantanswer.com/2526/capitalise-installation-fees?show=4296#a4296 Thu, 19 Jan 2023 18:20:17 +0000 What if cost to sell is not given to determine nrv of biological assets? https://www.accountantanswer.com/2755/what-if-cost-sell-not-given-determine-nrv-biological-assets IAS 41 - Agriculture https://www.accountantanswer.com/2755/what-if-cost-sell-not-given-determine-nrv-biological-assets Thu, 19 Jan 2023 14:30:15 +0000 Answered: Can I combine like project items to reach $5k minimum for Capex vs Operating expense? https://www.accountantanswer.com/2375/combine-project-items-reach-minimum-capex-operating-expense?show=2707#a2707 General Accounting Q&A https://www.accountantanswer.com/2375/combine-project-items-reach-minimum-capex-operating-expense?show=2707#a2707 Thu, 19 Jan 2023 14:29:30 +0000 Answered: IFRS 15 Revenue https://www.accountantanswer.com/2412/ifrs-15-revenue?show=2708#a2708 General IFRS Discussion https://www.accountantanswer.com/2412/ifrs-15-revenue?show=2708#a2708 Thu, 19 Jan 2023 14:29:25 +0000 Answered: Asset fully depreciated https://www.accountantanswer.com/2416/asset-fully-depreciated?show=2887#a2887 General Accounting Q&A https://www.accountantanswer.com/2416/asset-fully-depreciated?show=2887#a2887 Thu, 19 Jan 2023 14:28:12 +0000 Can I change from cost model to revaluation model in IAS38 and how? https://www.accountantanswer.com/3063/can-change-from-cost-model-to-revaluation-model-ias38-and-how General Accounting Q&A https://www.accountantanswer.com/3063/can-change-from-cost-model-to-revaluation-model-ias38-and-how Thu, 19 Jan 2023 14:24:05 +0000 What is the accounting treatment in case of fully repayment of grant after utilizing amount for some period? https://www.accountantanswer.com/3779/accounting-treatment-fully-repayment-utilizing-amount-period General IFRS Discussion https://www.accountantanswer.com/3779/accounting-treatment-fully-repayment-utilizing-amount-period Thu, 19 Jan 2023 14:22:09 +0000 Answered: journal entries for government grants https://www.accountantanswer.com/2449/journal-entries-for-government-grants?show=4002#a4002 IAS 20 - Accounting for Government Grants https://www.accountantanswer.com/2449/journal-entries-for-government-grants?show=4002#a4002 Thu, 19 Jan 2023 14:21:12 +0000 Answered: Software implemantion- asset clasiffication https://www.accountantanswer.com/2415/software-implemantion-asset-clasiffication?show=4294#a4294 General Principles https://www.accountantanswer.com/2415/software-implemantion-asset-clasiffication?show=4294#a4294 Thu, 19 Jan 2023 14:01:03 +0000 Answered: What are the positive/negative international critique on the IAS 40 Standard? https://www.accountantanswer.com/2410/what-are-positive-negative-international-critique-standard?show=4293#a4293 General IFRS Discussion https://www.accountantanswer.com/2410/what-are-positive-negative-international-critique-standard?show=4293#a4293 Thu, 19 Jan 2023 12:55:40 +0000 Answered: Disclosure requirements of a derivative instrument https://www.accountantanswer.com/2408/disclosure-requirements-of-a-derivative-instrument?show=2884#a2884 IFRS 7 - Financial Instruments: Disclosures https://www.accountantanswer.com/2408/disclosure-requirements-of-a-derivative-instrument?show=2884#a2884 Thu, 19 Jan 2023 09:15:47 +0000 Answered: Is a contract with a barter transaction a lease under IFRS 16? https://www.accountantanswer.com/2407/is-a-contract-with-a-barter-transaction-a-lease-under-ifrs-16?show=3017#a3017 General IFRS Discussion https://www.accountantanswer.com/2407/is-a-contract-with-a-barter-transaction-a-lease-under-ifrs-16?show=3017#a3017 Thu, 19 Jan 2023 09:15:34 +0000 IFRS can be cost effective in the countries that donot have efficient financial market https://www.accountantanswer.com/2417/ifrs-effective-countries-donot-efficient-financial-market General IFRS Discussion https://www.accountantanswer.com/2417/ifrs-effective-countries-donot-efficient-financial-market Mon, 06 Jul 2020 08:18:27 +0000 How to account for NWC post closing adjustment on opening balance sheet? https://www.accountantanswer.com/2446/how-account-post-closing-adjustment-opening-balance-sheet General Principles https://www.accountantanswer.com/2446/how-account-post-closing-adjustment-opening-balance-sheet Mon, 06 Jul 2020 08:18:04 +0000 Does Buyer Lessor treats a lease always as a operating lease. If not then what is the finance lease treatment https://www.accountantanswer.com/2448/buyer-lessor-treats-always-operating-finance-lease-treatment General IFRS Discussion https://www.accountantanswer.com/2448/buyer-lessor-treats-always-operating-finance-lease-treatment Mon, 06 Jul 2020 08:17:58 +0000 What is the best way to learn GAAP compliance online? https://www.accountantanswer.com/2450/what-is-the-best-way-to-learn-gaap-compliance-online General Principles https://www.accountantanswer.com/2450/what-is-the-best-way-to-learn-gaap-compliance-online Mon, 06 Jul 2020 08:17:49 +0000 How to treat Forex Transactions for 1) Credit Notes for full or partial reversal of AR & 2) W/offs of AR https://www.accountantanswer.com/2494/treat-forex-transactions-credit-notes-full-partial-reversal IAS 21 - The Effects of Changes in Foreign Exchange Rates https://www.accountantanswer.com/2494/treat-forex-transactions-credit-notes-full-partial-reversal Mon, 06 Jul 2020 08:16:10 +0000 Accounting for sales spread over a period. https://www.accountantanswer.com/2495/accounting-for-sales-spread-over-a-period General IFRS Discussion https://www.accountantanswer.com/2495/accounting-for-sales-spread-over-a-period Mon, 06 Jul 2020 08:16:01 +0000 4. In general how would fair values be determined for productive assets? https://www.accountantanswer.com/2511/general-how-would-fair-values-determined-productive-assets IFRS 3 - Business Combinations https://www.accountantanswer.com/2511/general-how-would-fair-values-determined-productive-assets Mon, 06 Jul 2020 08:15:32 +0000 Do change from cost model to fair value model in IAS 40 is change in accounting policy? https://www.accountantanswer.com/2515/change-cost-model-fair-value-model-change-accounting-policy General IFRS Discussion https://www.accountantanswer.com/2515/change-cost-model-fair-value-model-change-accounting-policy Mon, 06 Jul 2020 08:15:16 +0000 What is recognition entries for fixed assets partly buying by lease and partly pairs directly to suppliers ?? https://www.accountantanswer.com/2405/recognition-entries-partly-buying-partly-directly-suppliers General IFRS Discussion https://www.accountantanswer.com/2405/recognition-entries-partly-buying-partly-directly-suppliers Tue, 14 Apr 2020 11:41:13 +0000 what are importance of IAS 16 for construction industry? https://www.accountantanswer.com/2459/what-are-importance-of-ias-16-for-construction-industry IAS 16 - Property, Plant and Equipment https://www.accountantanswer.com/2459/what-are-importance-of-ias-16-for-construction-industry Tue, 14 Apr 2020 11:18:47 +0000 Answered: What will be the impact of IFRS16 implementation to retained earnings and deferred tax. https://www.accountantanswer.com/2383/impact-ifrs16-implementation-retained-earnings-deferred?show=2404#a2404 General IFRS Discussion https://www.accountantanswer.com/2383/impact-ifrs16-implementation-retained-earnings-deferred?show=2404#a2404 Tue, 10 Dec 2019 18:33:37 +0000 Impact of oci pickup in parent entity post merger of subsidiary with another grou entity https://www.accountantanswer.com/2386/impact-pickup-parent-entity-merger-subsidiary-another-entity General Principles https://www.accountantanswer.com/2386/impact-pickup-parent-entity-merger-subsidiary-another-entity Thu, 19 Sep 2019 17:47:16 +0000 Answered: Non current asset held for sale https://www.accountantanswer.com/2363/non-current-asset-held-for-sale?show=2367#a2367 General IFRS Discussion https://www.accountantanswer.com/2363/non-current-asset-held-for-sale?show=2367#a2367 Fri, 26 Jul 2019 06:12:15 +0000