IFRS 2019 Update: Major changes you should be aware of
Here we go again – another year has started and a number of changes or amendments of IFRS came into effect. I am pretty sure that you are aware of the biggest ones like new IFRS 16, but let me sum up all the new…
035: How to determine the fair value of a machine?
Market prices of most non-financial assets are usually not available, because these assets might be outdated or highly customized or simply not traded on the market. How do you set the fair value of these assets in this case? Learn here!
026: 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!
025: 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!
023: 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!
003: Can you capitalize demolition cost under IFRS?
If you acquired land with some old building and you plan to demolish that building, how should you treat the demolition cost and the carrying amount of old building? Can you capitalize it to the new asset? Or expense it? It depends…
The Best of IFRSbox 2016
My all dear readers, without YOU there would be no IFRSbox! Let me thank you for your continuous support throughout the year 2016, especially for: Asking me so many good questions in the comments below my articles, Sharing my articles with your friends via social…
Summary of IAS 40 Investment Property
Many accountants falsely believe that there’s only one standard that deals with long-term tangible assets: IAS 16 Property, Plant and Equipment. While it’s true that you need to apply IAS 16 for most of your long-term tangible assets, it’s not the one ruling all. I…
3 Biggest Myths in Accounting for PPE
I often talk with many professionals about a practical application of IFRS and the topic of long-term tangible asset is very frequent. To my surprise I found out that a lot of them believed that with regard to accounting for property, plant and equipment (especially…
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