Intercompany receivables current asset. . This chapter discusses considerations related to intercompany transactions between a parent and its subsidiaries. Jan 11, 2025 · Enhance financial transparency by optimizing intercompany transactions through effective consolidation, transfer pricing, and tax strategies. This account is of the type Other Current Asset. “Organizations investing to One of the biggest challenges in transfer pricing is ensuring that your business model and transfer pricing policy translates into a simple intercompany agreement that is accurately reflected in your financial statements and statutory returns. Due from account is also known as the intercompany receivables account, whereas due to account is also known as the intercompany payables account. In the vast majority of cases, the group conditions will be set such that physical cash-pooling will de facto represent an intercompany loan and hence the cash-pooling account balance will not be reported as part of “Cash at bank” or “Payables to credit institutions” but as a component of intercompany receivables or payables, ie in 貸借対照表科目（日本語・英語） Wright Corporation includes several subsidiaries in its consolidated financial statements. 5. 25). It is set at the parent level and includes all subsidiaries. When the receivables is greater than to liabilities, then you to book below accounting entry: Inter company payable A/c Dr 500 USD Inter company name/Bank A/c Dr 500 USD (If you receive the balance amount then you can debit to bank) Jan 18, 2025 · Explore strategies for efficiently managing asset transfers between related parties, focusing on tax, valuation, and financial impacts. com Nov 8, 2018 · What is the correct why to set up Intercompany accounts between separate Companies, are they asset accounts? Need inter company accounts between separate companies Intercompany amounts to consider include, but are not limited to, (1) receivables, payables, notes, and dividends between the remaining entities and the carve-out entity and (2) intercompany sales, costs of goods sold, royalty revenues, and management fees. This means related company loan receivables must be classified and measured in accordance with the requirements of Aug 4, 2024 · Intercompany Receivables: A common example of a due from account is intercompany receivables. Proper accounting for intercompany transactions is crucial to ensure the consolidated financial statements Nov 25, 2024 · 1700 Non-current receivables 1800 Intercompany receivables 1900 Other non-current assets 2000 Liabilities 2100 Payables 2200 Accrued compensation & related items 2300 Other accrued expenses 2500 Accrued taxes 2600 Deferred taxes 2700 Long-term debt 2800 Intercompany payables 2900 Other non-current liabilities 3000 Owner equities 4000 Revenue Sep 16, 2024 · The entity has a legally enforceable right to offset current tax assets and current tax liabilities (see above). How to account for intercompany loans under IFRS when there is no documentation, loans are not at commercial terms or there is no fixed repayment date? Learn here! 5 days ago · Key takeaways Intercompany accounting deals with recording transactions between different entities within the same corporate group such as sales, loans, and asset transfers. Certain simplifications from IFRS 9’s general 3-stage impairment model are available for trade receivables (including intercompany trade receivables), contract assets or lease receivables, but these do not apply to intercompany loans. The Initiative is intended to create an efficient resolution for transfer pricing audits. The majority of related company loans (including intragroup loans as well as loans to associates or joint ventures) are debt instruments that fall within the scope of IFRS 9. With the importance of international commerce, both elements are key for compliance purposes, increasing the need for adequate documentation of all intercompany payments flows. This new clearing account is used in Multi-Book Accounting and other features such as Intercompany Time and Expense, for intercompany transactions. Oct 20, 2020 · My question is how do we treat the loan receivable and loan payable of $100,000 which is an intercompany loan between related companies. This chapter also discusses other unique accounting matters such as collaborative arrangements, proportionate consolidation, and not-for-profit organization consolidation considerations. In addition, this publication considers some of the challenges that entities might face on implementation Nov 17, 2023 · QuickBooks Enterprise intercompany transactions enable your business to track transactions across business entities by assigning assets and liability accounts. NWC is derived from a company’s balance sheet and represents current assets, less current liabilities at a given point in time. 1. Hence, there is no intercompany loan asset in consolidated financial statements that requires a classification and expected credit loss assessment. Lack of comparable default patterns from other intercompany loan receivables to consider, and so greater reliance on current and forecast information. Offsetting of intercompany sales and purchases to intercompany payables and receivables, respectively, is very common for this type of transaction. By eliminating intercompany receivables and payables, addressing interest revenue and expense, and adhering to best practices, organizations can ensure that their consolidated financial statements are accurate and reliable. If the ownership structure and/or ownership is different, this would be a loan (or a due to/from) account, a "related party" transaction. For example, if one subsidiary sells goods to Feb 25, 2025 · This involves validating intercompany balances, confirming netting calculations, and adjusting discrepancies. Using an asset’s book value is not appropriate unless it aligns with the fair market value. This guidance note May 14, 2025 · Accounting for intra-group transactions specifically in the separate financial statements. This occurs because the future expected cash flows are equal to the current value of the loan. Intercompany transactions need to be accurately reported for regulatory compliance, avoiding duplication and ensuring compliant financial records. SSAP No. 2 Balance sheet—offsetting asset and liability disclosures While differences exist between IFRS and US GAAP in the offsetting requirements, the boards were able to reach a converged solution on the related disclosures. The phrase ‘accounts receivable’ includes trade receivables, contract assets and lease receivables for the purposes of this guide. Below are examples of intercompany accounting journal entries. Here’s how to do it right. Is it eliminated and how? Sep 9, 2024 · Key Takeaways Getting a full grasp of intercompany transactions is essential for accurate financial consolidation. IFRS 9 Financial Instruments, effective for periods Jul 29, 2017 · Trade Receivables It is the total amount receivable to a business for sale of goods or services provided as a part of their business operations. See full list on timesmojo. They are treated as an asset to the company and can be found on the balance sheet. Typically, these loans do not accrue interest and have an effective interest rate of 0%. intragroup loans) as well as loans to associates or joint ventures (including those long terms interests that form part of the net investment in accordance with IAS 28 Investments in Associates and Joint Ventures). The Board has now clarified that – when classifying liabilities as current or non-current – a company can ignore only those conversion options that are recognised as equity. Trade receivables arise due to credit sales. When a subsidiary receives payment for goods or services, the funds are held in the due from account until they are transferred to the parent company’s main account. For non-depreciable assets, the transfer is treated similar to inventory and any unrealized profit is eliminated. The CECL model applies to a broad range of financial instruments, including financial assets measured at amortized cost (which includes loans, held-to-maturity debt securities and trade receivables), net investments in leases, and certain off-balance sheet credit exposures. It is necessary to eliminate the intercompany income and cost of sales resulting from the transaction in the consolidated financial statements. 15. Nov 1, 2024 · Cleaning up intercompany debt An intercompany loan between related corporations may be recharacterized as an equity contribution by the companies’ shareholders, resulting in a constructive dividend to the shareholders. 確認とは、財務諸表項目に関連する情報について、監査人が会社の取引先等の第三者に対して文書により問い合わせ、その回答を直接入手し、評価する監査手続をいう。監査人は、確認の実施対象項目及び実施範囲について、監査リスク及び重要性、会社の状況及び事業内容並びに回答の入手 Aug 25, 2022 · A primary focus of Katie’s is assisting organizations to transform the end-to-end intercompany process by designing and implementing solutions that meet the specific needs of her client constituents across Finance, Treasury and Tax. How should the subsidiary classify the receivable from its parent in its separate financial statements? PwC response The subsidiary may classify the receivables from its parent as an asset in its separate financial statements. This means related company loan receivables must be classified and measured in The classification, presentation and measurement requirements in this Ind AS applicable to a non-current asset (or disposal group) that is classified as held for sale apply also to a non- current asset (or disposal group) that is classified as held for distribution to owners acting in their capacity as owners (held for distribution to owners). Intercompany amounts to consider include, but are not limited to, (1) receivables, payables, notes, and dividends between the remaining entities and the carve-out entity and (2) intercompany sales, costs of goods sold, royalty revenues, and management fees. It provides examples of transfers between a parent company and subsidiary. Normally the transaction price of a loan (ie Jul 9, 2024 · Learn about intercompany receivables, essential financial claims within corporate groups, and their critical role in multinational corporations. A controversial issue which has arisen is the way that Section 11 Basic Financial Instruments works – particularly with loans entered into at below market rates of interest. to do journal entry activity analysis, close management process review, and related . (every group should have a cash pooling agreement). Intercompany receivables transactions: What is it & Examples 2025 Inter-company receivable transactions generally involve the transfer of funds between affiliated business entities and play a crucial role in optimizing operations and effective collaboration between companies. trend analysis Reporting Automation Tools • Link Navigating Interest Expense Limitations Under IRC Section 163(j) intercompany payments on the determination of the value for duty for imported goods. This can create issues when loans are made at below-market rates of interest, which is often the case for loans to related parties. This document discusses accounting for intercompany transfers of long-term assets between related companies. When disclosing related party information, do not state or imply that the transactions were on an arm’s-length basis, unless you can substantiate the claim. The Initiative began on June 15, 2022, and will continue through March 2, 2023 ; however, requests to participate must be received by September 15, 2022. Finding the balance between transfer pricing and Intercompany receivables are settled periodically and historically, recoverability has not been an issue. This article highlights common pitfalls in its application and offers practical guidance to help preparers navigate the requirements with confidence. INTRODUCTION IFRS 9 Financial Instruments makes no distinction between unrelated third party and related party transactions. Current statutory guidance relating to intercompany transactions is included in SSAP No. In 2014. So typically we have a situation where where we have a parent subsidiary relationship or thinking about a consolidation type of process within it. g. Intercompany accounting is an important step in the Sep 3, 2024 · Intercompany transactions can include loans, sales of goods or services, allocation of expenses, and more. In this presentation we’re going to discuss intercompany transactions. They may also occur between groups, subdivisions, or departments within the same company. Each subsidiary must verify its outstanding receivables and payables before the netting cycle begins to ensure all amounts align with internal records and external invoices. Make Journal Entries: Each entity involved records the transaction in their accounting system. Finding the balance between transfer pricing and 確認とは、財務諸表項目に関連する情報について、監査人が会社の取引先等の第三者に対して文書により問い合わせ、その回答を直接入手し、評価する監査手続をいう。監査人は、確認の実施対象項目及び実施範囲について、監査リスク及び重要性、会社の状況及び事業内容並びに回答の入手 Aug 25, 2022 · A primary focus of Katie’s is assisting organizations to transform the end-to-end intercompany process by designing and implementing solutions that meet the specific needs of her client constituents across Finance, Treasury and Tax. Mar 16, 2020 · IFRS 9 Proper accounting for Related Company Loans – IFRS 9 Financial Instruments makes no distinction between unrelated third party and related party transactions. means all accounts receivable of the Business between or among one or more Sellers or their Affiliates. What’s the issue? Loans are one type of financial instrument. This entry ensures the financial statements accurately reflect only the external transactions, providing a clear view of the financial position and performance of the group as a whole. This is likely to affect intra-group Intercompany accounting is the recording of financial transactions between two different entities that are related by the same parent company. Intercompany receivables occur when one of your company's organizations incurs a payable or receivable on behalf of another organization. The maximum period 10 hours ago · The latest company information, including net asset values, performance, holding & sectors weighting, changes in voting rights, and directors and dealings. Feb 22, 2019 · Many intercompany loan receivables have no written terms, bear no (or a below market) interest rate; and/or do not have a fixed repayment date. Cash-Free, Debt-Free, Tax-Free Net Working Capital (NWC) is one of the most contentious points in a deal process and a topic that is frequently ignored on the front end of a transaction. Interest receivable from intercompany loans is deemed to “accrue in or derive from” Gibraltar where the company receiving the interest is registered in Gibraltar. Discover how effective management can enhance liquidity, optimize tax strategies, and ensure regulatory compliance. What are Nostro Accounts? 確認とは、財務諸表項目に関連する情報について、監査人が会社の取引先等の第三者に対して文書により問い合わせ、その回答を直接入手し、評価する監査手続をいう。監査人は、確認の実施対象項目及び実施範囲について、監査リスク及び重要性、会社の状況及び事業内容並びに回答の入手 Aug 25, 2022 · A primary focus of Katie’s is assisting organizations to transform the end-to-end intercompany process by designing and implementing solutions that meet the specific needs of her client constituents across Finance, Treasury and Tax. 25— Accounting for and Disclosures about Transactions with Affiliates and Other Related Parties (SSAP No. Jan 18, 2025 · Explore the nuances of managing intercompany debt, including accounting practices, tax implications, and financial statement impacts. 3 – Related point solutions - data integration. The intercompany transactions can be sales and purchases, loans and May 31, 2022 · Foreign currency transaction gains and losses related to intercompany loans or advances that have been asserted by management to be of a long-term-investment nature should be accounted for as translation adjustments. Hence, the due from account is an asset account or a debit account, whereas a due to account is a liability or a credit account. Intercompany positions eliminate in consolidated financial statements. Determining when a default, such as becoming past due, occurs. Trade receivables consist of Debtors and Bills Receivables. Sep 1, 2016 · ※2 Non-current assets 非流動資産 固定資産のことです。 Fixed assetsやLong term assetsと表示する場合もあるかと思いますが、国際会計基準ではNon-current という表現を使っています。 Define Intercompany Assets. For depreciable assets, the seller's gain is eliminated and the asset is adjusted back to its Jan 11, 2025 · If the ownership and business structure is the same, this would be considered an intercompany transaction. The transactions may occur between the parent and one of its subsidiaries, or between two subsidiaries. 2. Introduction IFRS 9 makes no distinction between unrelated third party and related party transactions. e. This typically The term “intercompany (intra-entity) income” as used in this chapter refers to profit arising from transfer of inventories, properties, or other assets between companies included in consolidated financial statements (including VIEs). One of the most common questions asked is whether such loans are to be treated as current or non-current in the borrowing or lending company’s balance sheet. And then we have those intercompany transactions between the companies that need to be consolidated between parent and subsidiary, […] The term “intercompany income” refers to profit arising from transfer of inventories, properties, or other assets. As such they are governed by IFRS 9 (2014) ‘Financial Instruments’ which requires all financial instruments to be initially recognised at fair value. The intermediate parent is unlikely a business because it doesn't hold processes. However, in the context of a transaction, NWC typically adjusts for the removal Jul 2, 2015 · FRS 102 has now kicked in for accounting periods commencing on or after 1 January 2015 and will apply to small companies on or after 1 January 2016 with earlier adoption permissible. These transactions may include the sale of products or services, loans, expense allocations, and asset transfers. This means that even though some loans may […] Sep 17, 2024 · Eliminated Intercompany Accounting Entries: Intercompany transactions going on in the working companies first need to be eliminated while preparing the consolidated financial statements; otherwise, it may lead to a duplication of revenues, expenses, assets, and liabilities. Where the interest received or receivable is less than GBP 100,000 per annum, however, the interest will not be subject to taxation in Gibraltar unless the income Feb 17, 2016 · • Intercompany Interest Rates Under the Situs Rule of IRC Section 482 • Outbound Transfer of Foreign Stock • Change in Participation in a Cost Sharing Arrangement (CSA) – Controlled Transfer of Interest and Capability Variation The first of these IPUs discusses the outbound stock exception to the general rule of IRC Intercompany Hub. Intercompany profit may also arise from the sale of services or other charges (e. Whether there is interest and how much depends on the cash pooling conventions. Sales, purchases, and transfers of real and personal property Services received or furnished, such as accounting, management, engineering, and legal services Use of property and equipment by lease or otherwise Borrowings, lendings, and guarantees Maintenance of compensating bank balances for the benefit of a related party Intra-entity billings based on allocations of common costs Filings of Sep 24, 2020 · Intercompany sales and purchases Intercompany sales are subject to Income tax and VAT. Should you ever recognize impairment, or a provision on your intercompany loan (if you are a lender, of course)? Why would you do that when all intercompany balances are eliminated on consolidation and there’s nothing left in the consolidated financial statements – no loan, no Jan 19, 2025 · Explore the complexities of inter-company transactions and loans, focusing on accounting practices, tax implications, and transfer pricing. 2. , not collapsed into equity) when supported by a written agreement that includes principal amounts, interest rate, maturity date, etc. It is important not to underestimate the challenges of applying the new IFRS 9 model to intercompany loans. In general, receivables should be recorded at the present value of the future cash flows, using a realistic interest rate. Jan 12, 2025 · In the income statement, eliminating intercompany sales and services prevents overstated revenue and expenses, reflecting the group’s true operational success. Sep 1, 2016 · ※2 Non-current assets 非流動資産 固定資産のことです。 Fixed assetsやLong term assetsと表示する場合もあるかと思いますが、国際会計基準ではNon-current という表現を使っています。 Mar 16, 2025 · Intercompany transactions are financial activities between different entities within the same parent company. To record these: Identify the Transaction: Determine the nature of the transaction, such as sales, loans, or asset transfers between entities. Jan 10, 2023 · In this guide, we discuss what intercompany accounting is, and how to create an efficient intercompany accounting process. Finding the balance between transfer pricing and Jul 9, 2024 · Learn about intercompany receivables, essential financial claims within corporate groups, and their critical role in multinational corporations. It is not currency locked. Analytics Tools • Populate BlackLine data into analytics and . However, in the context of M&A transactions, rarely is working capital defined in such a simplistic manner. Mar 21, 2024 · What is intercompany accounting and best practices for managing different entities within the same parent company. 3. Oct 19, 2024 · In a situation where an intermediate parent, which has let's say an investment in subsidiaries of LC 100 and a few intercompany receivables/payables, transfers all its assets and liabilities to another entity of the group. Jan 31, 2024 · 4. Apr 24, 2024 · A due from account refers to an asset account in the general ledger that indicates the amount of deposits currently held at another company. Jun 30, 2022 · Is intercompany receivable an asset? A due from account is an asset account in the general ledger used to track money owed to a company that is currently being held at another firm. Read full blog for detailed insights. INTERCOMPANY RECEIVABLES - Special Topic GL-4 In this special topic, we will discuss Intercompany Receivables and their effect on the financial statements. Jun 4, 2024 · Explore the principles, tax implications, and reporting requirements of intercompany loans to ensure compliance and effective financial management. Jul 6, 2024 · Here is a given Intercompany Accounting Entries with example and details wise. Apr 3, 2023 · Here we discuss what intercompany reconciliation is, the manual intercompany reconciliation process, and how to automate the process. We will explore each of these items below. An intercompany lease of property under a sales-type/capital lease requires working paper eliminations with features that resemble eliminations for both intercompany sales of merchandise and intercompany sales of plant assets. These transactions can include the sale of goods, transfer of funds, provision of services, or allocation of expenses. Jul 10, 2025 · In consolidated financial statements, intercompany loans eliminate. In consolidated financial statements, intercompany loans eliminate. program aimed at resolving intercompany transfer pricing issues. Analytics tools. Jul 9, 2024 · Learn about intercompany receivables, essential financial claims within corporate groups, and their critical role in multinational corporations. Apr 19, 2025 · Receivable Disclosures Separately disclose any receivables from officers, employees, or affiliated entities. All Note: You can only select from Accounts Receivables/ Accounts Payables or Other Current Asset/ Other Current Liability account types that are set up to eliminate intercompany transactions. On consolidation, an Jan 30, 2024 · Trade receivables can take the form of either open accounts or notes. Eliminate intercompany receivables and payables, purchase, sales costs, and profit/loss from transaction accounts in the consolidated financial sheet. Intercompany transactions occur between different entities within the same parent company. Entities that prepare stand-alone financial statements are required to apply the full provisions of the standard to all transactions within its scope. , interest) that are capitalized by the purchasing affiliated company. It is typically used in conjunction with a due to account and is sometimes referred to as intercompany receivables. However, when entities prepare their separate financial statements these intercompany positions do not eliminate and the reporting entity that is a lender needs to assess any Sep 4, 2024 · What are Intercompany Transactions Journal Entries? Intercompany transactions are financial activities that take place between separate companies or subsidiaries of the same parent company. Similarly, the balance sheet excludes intercompany balances, accurately representing the group’s assets and liabilities. Given the broad scope of the new guidance, both financial services and non-financial service entities will be affected. Jun 18, 2025 · A debtor entity can transfer a non-cash asset, such as equipment or real estate, to the creditor entity to satisfy the intercompany debt. Current liabilities include accounts payable and accrued expenses. Explore the essentials of intercompany accounting, including transaction types, journal entries, and their importance for accurate financial reporting. Create AI-powered solutions like CRM, Helpdesk ticketing, ITSM, PSA, and more —that reduce complexity and boost your business velocity. However, when entities prepare their separate financial statements these intercompany positions do not eliminate and the reporting entity that is a lender needs to assess any Jan 30, 2015 · One is under liabilities side in non-current liabilities schedule and another one is non current asset at asset side. How to record intercompany transactions? Mar 8, 2024 · In the individual accounts of the sub, it would be shown as an intercompany receivable/payable depending on the cash balance that the sub has with its parent. For purposes of ECL, the appropriate discount rate to be used is therefore also 0%. 25 does not explicitly impose an aging threshold for admission of loans and advances to related parties outstanding as of the reporting Aug 30, 2022 · The issue of intra-group loans often raises its head when looking at the accounting treatment for financing transactions under FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Transfer pricing compliance IFRS 9’s general 3 -stage impairment model are available for trade receivables (including interco mpany tr ade receivables), contract assets or lease rece ivables, but 1. Sep 4, 2024 · What are Intercompany Transactions Journal Entries? Intercompany transactions are financial activities that take place between separate companies or subsidiaries of the same parent company. Current asset components include cash, inventory, accounts receivable, and prepaid items. This means related company loan receivables must be classified and measured in accordance with the requirements of IFRS 9, including where Effectively, a loan which is repayable on demand, contains a contractual repayment term of 1 day or less. Trade Receivables = Debtors + Bills Receivables Example Dec 1, 2016 · Best practices can help multinationals improve intercompany accounting, such as transfer pricing, cash management, and settlement, while preventing costly problems. They are almost always classified as current because their normal collection period is part of, and therefore less than, the operating cycle. 2 Intercompany notes, debt, receivables, and payables Intercompany notes and debt are generally presented as assets or liabilities (i. Sep 1, 2016 · ※2 Non-current assets 非流動資産 固定資産のことです。 Fixed assetsやLong term assetsと表示する場合もあるかと思いますが、国際会計基準ではNon-current という表現を使っています。 Jun 9, 2025 · Offsetting applies across all primary financial statements, yet it is often misunderstood or applied incorrectly. Such features may pose real practical challenges when applying the classification and impairment provisions of IFRS 9 in separate/individual financial statements, as its application is premised on the existence of a contract. Apr 4, 2024 · Intercompany accounting prevents 'double counting' sales and profit, so getting it wrong has serious consequences. Upon offsetting, the seller company constructively received payment from the buyer company. 1 NetSuite OneWorld introduced a new Intercompany Clearing account for payable and receivables. Advanced financial accounting. This method requires a precise valuation of the asset being transferred, based on its current fair market value. The current statutory guidance with respect to accounting for transfers of assets between affiliates that are considered to be non-economic transactions (generally at lower of cost or market) differs from the GAAP guidance for accounting for transfers and exchanges between companies under common control. Understand the accounting principles, benefits, and challenges of managing intercompany receivables, along with real-world examples. visualization tools . Financial planning tools . Nov 2, 2022 · “There are external market factors that we suspect are driving many organizations’ intercompany accounting growth plans for the year ahead, such as exchange rate volatility management or post-merger integration finances,” said Katie Glynn, a Deloitte Risk & Financial Advisory partner, Deloitte & Touche LLP. Common examples and key considerations Related company loans include loans between a parent and a subsidiary or between fellow subsidiaries (i. This separation of incoming and outgoing funds simplifies accounting procedures. This article focuses on a recent Tax Court case involving the proper characterization of purported intercompany loans between two S corporations. In its December 31, 20X2, trial balance, Wright had the following intercompany balances before consolidation entries: Debit Credit Current receivable due from Main Company $32,000 Noncurrent receivable from Main Company 114,000 Cash advance to Corn Corporation 6,000 Cash advance from King Company $15,000 This guide considers the theoretical concepts with regard to the impairment of accounts receivable under IFRS 9, and it provides some practical insights. Discover Gridlex’s Ultra Customizable All-In-One AI App Builder. This means that even though some loans may […] Sep 1, 2024 · Intercompany Receivables are credited to remove the asset from the consolidated balance sheet. We will also talk about Intercompany Receivable journal entries and how to create them. The deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on either: the same taxable entity; or New expected credit loss model applies to intercompany loans Most preparers of financial statements for 30 June 2019 are aware of the change in the way provisioning (impairment allowances) are calculated for financial assets such as loans receivable, trade debtors and contract assets under IFRS 15 Revenue from Contracts with Customers. May 21, 2024 · Auditing intercompany accounts is essential for maintaining financial statement integrity and compliance. pwczyjt dtuzs adz pwxe fxyq vrvhqg lyjcv mxeg jvv zbc