Consensus 10/2008

Issue 14 - When a company changes the measurement basis for its assets (from cost to valuation or vice versa) which warrants a prior year adjustment, should the related depreciation charges be adjusted retrospectively based on the revised definition of residual value in accordance with FRS 116 Property, Plant and Equipment or should the effect of the depreciation charges due to the revised definition of residual value be adjusted prospectively?
(2007)

Issue 05 - How to compute the majority of the benefits and risks of Special Purpose Entity (SPE) and what constitutes the residual interest in the case where there are different tranches of risks?
(2007)

Issue 11 - What is the appropriate accounting treatment for rights issue with free warrant?
(2007)

Issue 17 - Is projected revenue method appropriate to recognise revenue from shipping freight services?
(2007)

Consensus 6/2008

Issue 07 - What is the accounting treatment of a transaction where a parent grants rights to its equity instruments (ESOS) to its subsidiary's employees and recharges the subsidiary for the equity instruments granted?
(2007)

Issue 12 - Does premium paid for transfer of listing status satisfy the criteria for recognition as intangible assets under FRS 138?
(2007)

Issue 06 - What is the appropriate method to split minimum lease payments between land and building elements as required by FRS 117, Leases?
(2007)

Issue 15 - Is writing off of goodwill against share premium (without passing through income statement) pursuant to court's approval in accordance with requirements of FRS 136 Impairment of Assets?
(2007)

Issue 16 - Is fixed deposit held on lien a cash and cash equivalent?
(2007)

Issue 09 - Are MSC-status companies required to prepare their financial statements in accordance with Financial Reporting Standards?
(2007)

Issue 02 - What is the deferred tax rate to be used for year of assessment 2008 and thereafter in light of reduction in tax rate as announced in 2007 Budget?
(2007)