Principal or Agent – Revenue or Liability?
Last update: July 2026 What you will find here: 1. Free VIDEO lecture: IFRS 15 Principal vs Agent: Revenue gross or net? 2. Main IFRS 15 rule: Should you account for revenues net or gross? 3. Illustration: Principal and agent 4. IFRS 15 Indicators of…
IFRS 9 Financial Instruments Explained (2026): Full Guide + Free Practical Checklist
Updated: Aug 2026 IFRS 9 sets the rules for classification, measurement, impairment, and hedge accounting of financial instruments. This practical guide simplifies the key principles, with a free video summary and a downloadable IFRS 9 Practical Checklist. What you will find in this guide: 1….
ECL model under IFRS 9 explained: Simple walkthrough with examples
Last update: 2026 What you will find in this guide: 1. Free VIDEO lecture: IFRS 9 ECL model explained: Simple walkthrough with examples 2. What is the IFRS 9 ECL model and when does it apply 3. What does “expected credit loss” actually mean 4….
A Practical Map of IFRS Standards: 7 Key Categories
There are over 40 IFRS standards, and without a structure, they can feel chaotic. But here’s the truth: every standard fits into one of a few big themes. I call these themes IFRS Clouds, because each cloud groups related ideas. There are 7 main categories…
Complete IFRS Consolidation Lecture: IFRS 3 | IFRS 10 | Examples
This is a complete almost 80-minute IFRS consolidation lecture that puts you on the solid starting point: The content of this lecture (with links to text versions) Introduction to group accounts / consolidation IFRS 3 Business Combinations – summary of rules IFRS 10 Consolidated Financial…
How to calculate deferred tax with step-by-step example (IAS 12)
Deferred tax is not a new concept – however, it is the concept quite misunderstood by many. Well, first of all – deferred tax is NOT a tax to be paid. Instead, it is an accrual for tax, working similarly as any other accrual or…
Intro To Consolidation And Group Accounts – Which Method For Your Investment?
Last update: December 2024 Group accounting – what to do and how to start? The accounting method depends on the type of investment that an investor has. In this article, you will learn: What shall we do to start? IFRS Accounting Standards dealing with group…
IFRS 18 Management-Defined Performance Measures (with video and example)
What are management-defined performance measures, the new requirement in IFRS 18? The guidance in IFRS 18 related to MPMs is quite extensive, however, in my humble opinion, most “outside-financial statements” measures will not meet the definition of MPM in IFRS 18. As a result, no…
IAS 12 Income Taxes
Benjamin Franklin once wrote: “In this world nothing can be said to be certain, except death and taxes“. Income tax is something that can hardly be avoided by a profit-making company. You might find filling-in the tax return a demanding task because everything must be…
Top 4 Changes in Profit or Loss Statement under IFRS 18 (with video)
The new standard IFRS 18 brought a few significant changes in the financial reporting, especially in profit or loss statement. Let’s examine the top four of them and illustrate them on simple examples. #1 New categories of income and expenses under IFRS 18 Under…
