010: How to test hedge effectiveness under IFRS 9?
How to assess hedge effectiveness prospectively under IFRS 9? Do we need to calculate the hedge effectiveness retrospectively?
How to calculate bad debt provision under IFRS 9
If you have a large portfolio of trade receivables, then you face the same issue over and over again: How to calculate bad debt provision to these receivables? When I worked as an auditor, I used to discuss this issue with my colleagues very frequently….
006: How to account for contracts to buy commodities with future delivery (own use)?
When you purchase a commodity with future delivery for fixed price, should you account for it as for derivative under IFRS 9? Or as a purchase of inventories (“own-use” contract)? Find out here with example included.
What to disclose under IFRS 7 Financial Instruments: Disclosures
About 3 years ago, I was reviewing the financial statements of a medium-sized company providing consumer loans. They needed the IFRS financial statements due to lots of loans taken from foreign banks. Usually, these banks require bigger debtors to provide the financial statements annually. So…
004: Can we classify loans with variable interest at amortized cost?
Variable interest with cap/floor, full recourse, inflation-linked interest, collaterals – can you still classify these loans as at amortized cost?
How to Account for Debt Factoring or Selling of Receivables
When I was auditing the financial statements of one of our clients, I spotted a few strange things: There was a huge balance of cash on client’s bank account at the year-end. And I mean HUGE. To illustrate: normally, the client had about CU…
How to Make Hedging Documentation
If your company enters into some derivatives or other contracts to protect against any (potentially adverse) changes in cash flows or fair values, then it’s probably beneficial to apply hedge accounting. I wrote a few articles about hedge accounting, therefore if you need to refresh…
What Is a Financial Instrument?
A few weeks ago, we published the article about How to Implement IFRS 9 to assist you with the adoption of the major forthcoming IFRS update. Many accountants and CFOs are worried about IFRS 9, there are numerous discussions going on about it, but not…
IFRS 9 Financial Instruments
IFRS 9 Financial Instruments is one of the most challenging standards because it’s sooo complex and sometimes complicated. It belongs to the “Big 3” – the three difficult standards that need to be implemented in the near future: IFRS 9 Financial Instruments: adoption date =…
How to Implement IFRS 9
The new IFRS 9 Financial Instruments will replace the older standard IAS 39 in January 2018 and it practically means that if you are affected, you need to start getting ready NOW. Why? Because your comparative period starts in January 2017 and you will need…
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