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The Most Popular on IFRSbox
The most well received and shared pieces I wrote. Enjoy!
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- IFRS 15 vs IAS 18: Huge Change Is Here! – Introduction to the completely new revenue recognition standard IFRS 15 issued in 2014
- IFRS 15 Examples: How IFRS 15 Affects Your Company – Few illustrations of IFRS 15′s impact on various businesses with numbers and journal entries
- IFRS 16 Leases vs IAS 17 Leases: How the Lease Accounting Changed – New lease standard popped out in January 2016, so let’s see what changed and how the lessees are affected. Numerical example with journal entries included!
- How New Impairment Rules in IFRS 9 Affect You – If you think that IFRS 9 is just for banks and financial institutions, this article will open your eyes. Learn what you’re supposed to do with your trade receivables!
Property, Plant and Equipment
- Summary of IAS 16 Property, Plant and Equipment – There are many IAS 16 summaries on the web, but this one is different for 2 reasons: 1. there’s a video for no-no readers; 2. below this one, you’ll find tons of questions asked by our readers and I answered most of them, so maybe you’ll find a good advice!
- Our Machines are Fully Depreciated but We Still Use Them. What Shall We Do? – Maybe you estimated the useful lives incorrectly, or forgot to revise them regularly. Learn what your options to tackle this issue are. Video included!
- 3 Biggest Myths in Accounting for PPE – These mistakes maybe seem trivial, but you wouldn’t believe how common they are!
- Can You Capitalize It as PPE or Not? – This article describes the most questionable items to help you decide; plus interesting comments and questions below.
- How to Account for Spare Parts Under IFRS
- When to Start Depreciation?
- How to Account for Artwork under IFRS
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Consolidation and Group Accounts
- Intro to Consolidation and Group Accounts – Absolute must-read and must-see (video is included) for everyone starting out with accounting for various types of investments.
- Example: How to Consolidate – Basic consolidation procedures illustrated on a simple group example. Video with step by step process included.
- Our summaries of various IFRS standards dealing with group accounts, all with videos
Selection of Other Topics
- How to Account for Employee Loans (Interest-free or Below-market Interest) – Not only for employee loans, but also for loans from government provided at lower rate, intercompany loans provided interest-free, etc. Numerical example inside!
- Deferred Tax: The Only Way to Learn It – Totally fresh approach to this difficult concept.
- Accounting for Prepayments in Foreign Currencies – Foreign currency transactions often confuse us as we are not sure what rate to apply and how to post the difference. Prepayments are a special case, but this article makes it clear.
- IFRS for Banks and Financial Institutions – There are no special IFRSs issued for banks, but there are some special focus areas that banks need to care about.
- How to Make Cash Flow Statement in 7 Steps – My favorite method of cash flow preparation. If you’d like to see the video, you should subscribe to my newsletter and you’ll get it by e-mail.
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