AFH Acquisition V 10-Q 15 Sep 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Jul. 31, 2014	Sep. 14, 2014
Document and Entity Information:	'	'
Entity Registrant Name	'AFH ACQUISITION V, INC.	'
Document Type	'10-Q	'
Document Period End Date	31-Jul-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0001420033	'
Current Fiscal Year End Date	'--10-31	'
Entity Common Stock, Shares Outstanding	'	5,000,000
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Entity Incorporation, State Country Name	'Delaware	'
Entity Incorporation, Date of Incorporation	24-Sep-07	'

Balance_Sheets

Balance Sheets (USD $)	Jul. 31, 2014		Oct. 31, 2013
Liabilities	'		'
Accrued Expenses	$4,030		$3,586
Due to Parent	32,115		27,596
Total Liabilities	36,145		31,182
Stockholder's Equity	'		'
Preferred Stock	0	[1]	0	[1]
Common Stock	5,000	[2]	5,000	[2]
Additional Paid-In-Capital	20,000		20,000
Deficit Accumulated During Development Stage	-61,145		-56,182
Total Stockholder's Equity	($36,145)		($31,182)
[1]	Preferred Stock: $.001 Par; 20,000,000 Shares Authorized, -0- Issued and Outstanding
[2]	Common Stock: $.001 Par; 100,000,000 Shares Authorized; 5,000,000 Issued and Outstanding

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Jul. 31, 2014	Oct. 31, 2013
Statement of Financial Position	'	'
Preferred Stock, Par Value	$0.00	$0.00
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	$0	$0
Common Stock, Par Value	$0.00	$0.00
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	5,000,000	5,000,000
Common Stock, Shares Outstanding	5,000,000	5,000,000

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended		9 Months Ended		82 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2014
Expenses	'	'	'	'	'
Consulting	'	'	'	'	$1,696
Interest	'	'	'	'	15
Legal and Professional	1,270	1,055	4,563	3,686	55,874
Office Expenses	'	'	'	'	798
Organizational Costs	'	'	'	'	962
Total Expenses	1,270	1,055	4,563	3,686	59,345
Net Loss for the Period Before Taxes	-1,270	-1,055	-4,563	-3,686	-59,345
Franchise Tax	'	'	400	400	1,800
Net Loss for the Period After Taxes	($1,270)	($1,055)	($4,963)	($4,086)	($61,145)
Loss per Share - Basic and Diluted	$0	$0	$0	$0	'
Weighted Average Common Shares Outstanding	5,000,000	5,000,000	5,000,000	5,000,000	'

Statements_of_Changes_in_Stock

Statements of Changes in Stockholder's Equity (USD $)	Common Stock	TreasuryStock	Additional Paid-In Capital	Stock Subscription Receivable	Accumulated Deficit during Development Stage	Total
Balance at Sep. 23, 2007	$0	$0	$0	$0	$0	$0
Balance, shares at Sep. 23, 2007	0	'	'	'	'	'
Common Stock Issued for Cash	5,000	'	20,000	-4,900	'	20,100
Common Stock Issued for Cash, shares	5,000,000	'	'	'	'	'
Net Loss for the Period	'	'	'	'	-21,853	-21,853
Balance at Oct. 31, 2007	5,000	'	20,000	-4,900	-21,853	-1,753
Balance, shares at Oct. 31, 2007	5,000,000	'	'	'	'	'
Net Loss for the Period	'	'	'	'	-7,546	-7,546
Cash Received for Stock Subscriptions	'	'	'	4,900	'	4,900
Balance at Oct. 31, 2008	5,000	'	20,000	'	-29,399	-4,399
Balance, shares at Oct. 31, 2008	5,000,000	'	'	'	'	'
Net Loss for the Period	'	'	'	'	-7,242	-7,242
Balance at Oct. 31, 2009	5,000	'	20,000	'	-36,641	-11,641
Balance, shares at Oct. 31, 2009	5,000,000	'	'	'	'	'
Net Loss for the Period	'	'	'	'	-3,834	-3,834
Balance at Oct. 31, 2010	5,000	'	20,000	'	-40,475	-15,475
Balance, shares at Oct. 31, 2010	5,000,000	'	'	'	'	'
Net Loss for the Period	'	'	'	'	-4,920	-4,920
Balance at Oct. 31, 2011	5,000	'	20,000	'	-45,395	-20,395
Balance, shares at Oct. 31, 2011	5,000,000	'	'	'	'	'
Treasury Stock	'	-100,000	'	'	'	-100,000
Retirement of Treasury Stock	-2,500	100,000	-97,500	'	'	'
Retirement of Treasury Stock, Shares	-2,500,000	'	'	'	'	'
Issuance of Shares for Cash Held by Parent	2,500	'	97,500	'	'	100,000
Issuance of Shares for Cash Held by Parent, Shares	2,500,000	'	'	'	'	'
Net Loss for the Period	'	'	'	'	-5,701	-5,701
Balance at Oct. 31, 2012	5,000	'	20,000	'	-51,096	-26,096
Balance, shares at Oct. 31, 2012	5,000,000	'	'	'	'	'
Net Loss for the Period	'	'	'	'	-5,086	-5,086
Balance at Oct. 31, 2013	5,000	'	20,000	'	-56,182	-31,182
Balance, shares at Oct. 31, 2013	5,000,000	'	'	'	'	'
Net Loss for the Period	'	'	'	'	-4,963	-4,963
Balance at Jul. 31, 2014	$5,000	'	$20,000	'	($61,145)	($36,145)
Balance, shares at Jul. 31, 2014	5,000,000	'	'	'	'	'

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	9 Months Ended		82 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2014
Cash Flows from Operating Activities	'	'	'
Net Loss	($4,963)	($4,086)	($61,145)
Changes in Assets and Liabilities:	'	'	'
Accrued Expenses	444	-1,258	4,030
Net Cash Flows from Operating Activities	-4,519	-5,344	-57,115
Cash Flows from Financing Activities	'	'	'
Cash Advance by Parent	4,519	5,344	32,115
Cash Received for Stock Subscriptions	'	'	4,900
Cash Proceeds from Sale of Stock	'	'	20,100
Net Cash Flows from Financing Activities	$4,519	$5,344	$57,115

Note_1_The_Company

Note 1 - The Company	9 Months Ended
	Jul. 31, 2014
Notes	'
Note 1 - The Company	'
	NOTE 1 -THE COMPANY
	AFH Acquisition V, Inc., a development stage company (the “Company”), was incorporated under the laws of the State of Delaware on September 24, 2007.  The Company is majority owned by AFH Holding & Advisory, LLC (the “Parent”).  The unaudited condensed financial statements presented represent only those transactions of AFH Acquisition V, Inc.  The Company is looking to acquire an existing company or acquire the technology to begin operations.
	As a blank check company, the Company’s business is to pursue a business combination through acquisition, or merger with, an existing company. As of the date of the financial statements, the Company is not conducting negotiations with any target business. No assurances can be given that the Company will be successful in locating or negotiating with any target company.
	Since inception, the Company has been engaged in organizational efforts.
	The unaudited condensed financial statements of AFH Acquisition V, Inc., (the “Company”) included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in conjunction with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. The condensed balance sheet information as of October 31, 2013 was derived from the audited financial statements included in Form 10-K. These condensed financial statements should be read in conjunction with the annual audited financial statements and the notes thereto included in the Company’s annual report on Form 10-K for the year ended October 31, 2013, and other reports filed with the SEC.
	The accompanying unaudited interim financial statements reflect all adjustments of a normal and recurring nature which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented.  The results of operations for these periods are not necessarily comparable to, or indicative of, results of any other interim period or for the fiscal year taken as a whole.  Certain information that is not required for interim financial reporting purposes has been omitted.

Note_2_Summary_of_Significant_

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Jul. 31, 2014
Notes	'
Note 2 - Summary of Significant Accounting Policies	'
	NOTE 2 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Method of Accounting
	The Company maintains its books and prepares its financial statements on the accrual basis of accounting.
	Development Stage
	The Company has operated as a development stage enterprise since its inception by devoting substantially all of its efforts to financial planning, raising capital, research and development, and developing markets for its services.  The Company prepares its financial statements in accordance with the requirements of FASB ASC 915.
	Cash and Cash Equivalents
	Cash and cash equivalents include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less.  The Company maintains cash and cash equivalents at financial institutions, which periodically may exceed federally insured amounts.
	Loss per Common Share
	Loss per common share is computed in accordance with FASB ASC 260-10, by dividing income (loss) available to common stockholders by weighted average number of common shares outstanding for each period.
	Use of Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results can differ from those estimates.
	Organizational Costs
	Organizational costs represent management, consulting, legal, accounting, and filing fees incurred to date in the formation of the company.  Organizational costs are expensed as incurred in accordance with FASB ASC 720-15.
	Income Taxes
	The Company accounts for income taxes in accordance with FASB ASC 740-10, using the asset and liability approach, which requires recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of such assets and liabilities.  This method utilizes enacted statutory tax rates in effect for the year in which the temporary differences are expected to reverse and gives immediate effect to changes in income tax rates upon enactment.  Deferred tax assets are recognized, net of any valuation allowance, for temporary differences and net operating loss and tax credit carry forwards.  Deferred income tax expense represents the change in net deferred assets and liability balances.
	Financial Instruments
	The Company’s financial instruments consist of cash and due to parent. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.  The fair value of these financial instruments approximates their carrying value, unless otherwise noted.
	Recent Issued Accounting Standards Not Adopted
	On June 10, 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915). The amendments in this update remove the definition of a development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows, and shareholder’s equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. Early adoption is permitted. The Company is evaluating the adoption of this accounting standard to determine what material impacts it may have on the financial statements and related disclosures.

Note_3_Equity_Securities

Note 3 - Equity Securities	9 Months Ended
	Jul. 31, 2014
Notes	'
Note 3 - Equity Securities	'
	NOTE 3 - EQUITY SECURITIES
	Holders of shares of common stock shall be entitled to cast one vote for each common share held at all stockholder’s meetings for all purposes, including the election of directors.  The common stock does not have cumulative voting rights.
	The preferred stock of the Company shall be issued by the Board of Directors of the Company in one or more classes or one or more series within any class and such classes or series shall have such voting powers, full or limited, or no voting powers, and such designations, preferences, limitations or restrictions as the Board of Directors of the Company may determine, from time to time.
	No holder of shares of stock of any class shall be entitled as a matter of right to subscribe for or purchase or receive any part of any new or additional issue of shares of stock of any class, or of securities convertible into shares of stock or any class, whether now hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend.

Note_4_Going_Concern

Note 4 - Going Concern	9 Months Ended
	Jul. 31, 2014
Notes	'
Note 4 - Going Concern	'
	NOTE 4 -GOING CONCERN
	The Company’s financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has reported recurring losses from operations.  As a result, there is an accumulated deficit of $61,145 at July 31, 2014.
	The Company’s continued existence is dependent upon its ability to raise capital or acquire a marketable company. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

Note_5_Due_To_Parent

Note 5 - Due To Parent	9 Months Ended
	Jul. 31, 2014
Notes	'
Note 5 - Due To Parent	'
	NOTE 5 – DUE TO PARENT
	Due to parent represents cash advances from AFH Holding & Advisory LLC.  AFH Holding & Advisory LLC is the majority shareholder of the Company. There are no repayment terms.

Note_2_Summary_of_Significant_1

Note 2 - Summary of Significant Accounting Policies: Method of Accounting (Policies)	9 Months Ended
	Jul. 31, 2014
Policies	'
Method of Accounting	'
	Method of Accounting
	The Company maintains its books and prepares its financial statements on the accrual basis of accounting.

Note_2_Summary_of_Significant_2

Note 2 - Summary of Significant Accounting Policies: Development Stage (Policies)	9 Months Ended
	Jul. 31, 2014
Policies	'
Development Stage	'
	Development Stage
	The Company has operated as a development stage enterprise since its inception by devoting substantially all of its efforts to financial planning, raising capital, research and development, and developing markets for its services.  The Company prepares its financial statements in accordance with the requirements of FASB ASC 915.

Note_2_Summary_of_Significant_3

Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	9 Months Ended
	Jul. 31, 2014
Policies	'
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	Cash and cash equivalents include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less.  The Company maintains cash and cash equivalents at financial institutions, which periodically may exceed federally insured amounts.

Note_2_Summary_of_Significant_4

Note 2 - Summary of Significant Accounting Policies: Loss Per Common Share (Policies)	9 Months Ended
	Jul. 31, 2014
Policies	'
Loss Per Common Share	'
	Loss per Common Share
	Loss per common share is computed in accordance with FASB ASC 260-10, by dividing income (loss) available to common stockholders by weighted average number of common shares outstanding for each period.

Note_2_Summary_of_Significant_5

Note 2 - Summary of Significant Accounting Policies: Use of Estimates (Policies)	9 Months Ended
	Jul. 31, 2014
Policies	'
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results can differ from those estimates.

Note_2_Summary_of_Significant_6

Note 2 - Summary of Significant Accounting Policies: Organizational Costs (Policies)	9 Months Ended
	Jul. 31, 2014
Policies	'
Organizational Costs	'
	Organizational Costs
	Organizational costs represent management, consulting, legal, accounting, and filing fees incurred to date in the formation of the company.  Organizational costs are expensed as incurred in accordance with FASB ASC 720-15.

Note_2_Summary_of_Significant_7

Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies)	9 Months Ended
	Jul. 31, 2014
Policies	'
Income Taxes	'
	Income Taxes
	The Company accounts for income taxes in accordance with FASB ASC 740-10, using the asset and liability approach, which requires recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of such assets and liabilities.  This method utilizes enacted statutory tax rates in effect for the year in which the temporary differences are expected to reverse and gives immediate effect to changes in income tax rates upon enactment.  Deferred tax assets are recognized, net of any valuation allowance, for temporary differences and net operating loss and tax credit carry forwards.  Deferred income tax expense represents the change in net deferred assets and liability balances.

Note_2_Summary_of_Significant_8

Note 2 - Summary of Significant Accounting Policies: Financial Instruments (Policies)	9 Months Ended
	Jul. 31, 2014
Policies	'
Financial Instruments	'
	Financial Instruments
	The Company’s financial instruments consist of cash and due to parent. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.  The fair value of these financial instruments approximates their carrying value, unless otherwise noted.

Note_2_Summary_of_Significant_9

Note 2 - Summary of Significant Accounting Policies: Recent Issued Accounting Standards Not Adopted (Policies)	9 Months Ended
	Jul. 31, 2014
Policies	'
Recent Issued Accounting Standards Not Adopted	'
	Recent Issued Accounting Standards Not Adopted
	On June 10, 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915). The amendments in this update remove the definition of a development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows, and shareholder’s equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. Early adoption is permitted. The Company is evaluating the adoption of this accounting standard to determine what material impacts it may have on the financial statements and related disclosures.

Note_1_The_Company_Details

Note 1 - The Company (Details)	9 Months Ended
	Jul. 31, 2014
Details	'
Entity Incorporation, State Country Name	'Delaware
Entity Incorporation, Date of Incorporation	24-Sep-07

Note_4_Going_Concern_Details

Note 4 - Going Concern (Details) (USD $)	Jul. 31, 2014
Details	'
Retained Earnings (Accumulated Deficit)	$61,145