₦airaland Forum

fotogirl:
In practice or industry?

sultaan:
The smaller the engine and the better the fuel economy.

If that is your main criteria then your choice should be a car with engine size from 1.4l to 2.0l max.

The smaller the engine the cheaper the car, so you are looking for a cheap car.



The only cars that meets your criteria on that list is 1&4 (same engine)

Also you should look for the cheapest cars in other brands you will find something that is more desirable in terms of looks,price affordability, reliability, safety Toyota is not the only car in the market look at Honda,Mazda, Mitsubishi, Nissan, Kia,Mercedes,VW,Ford, GM and Peugeot.

These brand account for most of the casr in the market and their cheapest models are

Honda- fit,jazz,civic
Mazda- mazda2, mazda3
Mitsubishi- Lancer, mirage
Nissan- Versa, Sentra
Kia- Elantra, forte,Rio
Mercedes- A-class, C-class
VW- Golf,Jetta
Ford- Focus, fiesta
GM- Chevy cruze, cobalt,sonic,aveo
Peugeot- 207, 307

You don't have to buy any of the listed but you must look at each one of them get in the driver seat and enquire about the price before you buy any car to know which is the best for you.

fotogirl:
Yes, and I guess you are one.

fotogirl:
I mean no Ifrs to back the reschedule up. If there is you wouldn't be asking your question now, you will just go to ifrs 9.

fotogirl:
After my research, I saw that expert has been using their judgement to account for below market rate related party loan the way you said.
No Ifrs to back it up, why not use your judgement to account for the reschedule.
I.e Fair value again over the shorter or longer term take difference to sopl, perform amortised cost on the fv loan to get finance cost.
Take it as a change inaccounting estimate, so account for it prospectively.

That is just my take on it o. Ask expert.

DEXTROVERT:
Ultimate cycler didn't crash, it website upgrade and it's back..
Stop
Spreading
False
News

Promxy94:
What of eod because those are the two choices am considering
A 2003 eod
Or a 04 or 5 civic
Which would u advice Me to go for
One for cheap maintaince and not expensive parts
Thanks sir

fotogirl:
OK thanks

fotogirl:
I believe you are wrong in accounting for this financial liability

1- the fv of the loan is the 10m minus any transaction cost

2- the main issue with related party transaction is disclosure

3- pv of the loan is not the fv, fv is the consideration received

4- the effective interest multiply by the fv minus transaction cost is your finance cost that should be deducted in sopl

5- loan amount of 10m minus pv of loan amount recorded in profit or loss is wrong.

To your question, Ifrs 9 is silent on treatment of amortised cost in a case of reschedule, but what I think you should do is recalculate the effective interest over the remaining years and apply it to the carrying amount before rescheduling.

I hope you get this. How about calling a chartered accountant close to you.

fotogirl:
I just read it again and saw you put it in the note that the loan is carried at amortised cost. I think I understand now.
The loan is accounted for using amortised cost. At initial recognition the Fair value is used to calculate the amortised cost. Now that the loan has been rescheduled you want to know if u need to get the current fair value to calculate another amortised cost.
Am I right?

Dereformer:
We are accounting from the perspective of the loan receiver ie financial liability.
Note that the main import of the question is the effect of rescheduling on the already fair valued loan.

Should the loan be fair valued again bearing in mind the extention arising from the rescheduling?
Answers should be supported with relevant IFRS, IFRIC and/or the conceptual frame work.

NB. the loan is already accounted for at amortised cost.

muhamad158:
It's Not just about The position you are sleeping or the steps you took... how do you sleep peacefully? after all you have seen, face and done? Does it haunt your dreams?

fotogirl:
Are you accounting as the loan giver(financial asset) or loan receiver( financial liability) , we need to perform business model/ cash flow test to determine whether d loan should be carried at fair value or amortised cost by finding the reason why they are holding the loan.

Is it for trading purpose or to get specified income at a certain date.





































Pls answer that to know the proper way to account for it.

toye440:
lost sheep, I can see u my friend r possessed with d spirit of Gehazi, b careful before u contact Nemans disease, u HV ur eyes on what pastors do with d money. can u even hear urself pls I like to know ur church, I hope u r not a back bencher who always comes wen church is about to close.
seriously pls r u even a Christian.

TrumpDonald2:
And where did you get your statistics from? Your skull?

Tolakay:
Ok... Waiting for answers

Dereformer:
Please, knowledgeable people in the house, how do I guard against buying a stolen car.

I don't want to get into trouble in spending my hard earned money.

Somebody suggested I should as the sheller to obtain a Police report indicating he/she wants to sell his/her car.

Is the above suggestion ok?

FastShipping:
[s][/s]
With solid proof staring your red eyes, yet you are still being stubborn.
I repeat, you have no money and clueless.
Go and find a better work that pays enough to buy a car.

Here is another Lexus RX330 bought for another Nairalander recently.
Do the Maths and stop talking about things you have no clue about.

TrumpDonald2:
What are you implying? That all cars are sold because of a fault?

Tvegas:
Where are the shockers? If you are privy to any game changing result you should post it now. From all indication the race is between Aketi and Eyitayo at the moment. Oke is clearly lagging behind. ARIWO ko ni music o.

Dereformer:
A loan was advanced to a related party at an interest rate less than the market rate. At the inception of the loan, it was fair valued in line with IAS 39 and IFRS 9. The loan tenure is 3 years.

The loan has been rescheduled and a moratorium period of six months granted after 1 year 7 months into the loan period.

Now the question, what is the effect of the rescheduling on the fair value and subsequent accounting for the loan? Does the loan need to be fair valued again bearing in mind that FV is a function of time?



Mod please take this to home page.