We rent apartments and supply utilities with rent. Are we agent or principal?
If you are using third-party supplies within your product or service, are you an agent or a principal? How should you recognize revenue in this case? Learn here!
Deferred tax when different tax rates apply
What if the tax rate on capital gains is different from the tax rate on profit? How to calculate deferred tax on assets that will be recovered via both use and sale? Learn here!
028: How to determine the functional currency when a company deals with more currencies?
Imagine you sell in EUR, make purchases in INR and your loans are denominated in USD… what is your functional currency in this case? Learn here!
Accounting for transfer of owner-occupied property under revaluation model to investment property
What to do with revaluation surplus when transferring your PPE to investment property? How to account for it at the date of transfer and subsequently? Learn here!
Is a hotel an investment property under IAS 40?
How to classify any property (not just a hotel) if you use it for more purposes? And, what to do if you provide some additional services on top of rental? Find out here!
How to capitalize exchange differences on loan as borrowing costs?
Can you capitalize exchange differences on foreign currency loans as borrowing costs? If yes, then how? Please find out here!
How to match a government grant with costs for which the grant compensates?
How should you match the government grant with expenses for which it compensates? Sometimes, it’s not very straightforward and we need to apply our judgement and experience. Learn how to account for the grant revenue here!
How to account for gift cards?
How to account for sale of gift cards? What do to when the customers don’t redeem them? Find out here!
How to classify expenses in profit or loss statement under IFRS?
How to classify depreciation of warehouse? Is it cost of sales or administrative expense? What to do when the classification changes? Learn here!
How to account for income from loan application fees?
How to account for the loan origination fees or the loan servicing fees? In profit or loss? Amortize? Find out here!
Recent Comments
- ASHAGRE TILAHUN TAYE on IFRS 17 Example: Initial Measurement of Insurance Contracts
- Silvia on Example: IFRS 10 Disposal of Subsidiary
- Silvia on IFRS 17 Insurance Contracts: Summary
- Shiksha on Example: IFRS 10 Disposal of Subsidiary
- Chrisant on IFRS S2 Climate-related Disclosures: What, How, When
Categories
- Accounting Policies and Estimates (14)
- Consolidation and Groups (24)
- Current Assets (21)
- Financial Instruments (54)
- Financial Statements (48)
- Foreign Currency (9)
- IFRS Videos (65)
- Insurance (3)
- Most popular (6)
- Non-current Assets (54)
- Other Topics (15)
- Provisions and Other Liabilities (44)
- Revenue Recognition (26)