What closing rate to apply when more rates are available?
What closing rate shall you select under IFRS when more rates are available at the reporting date (mid rate, sell rate, buy rate)? Find out here…
IFRSbox Rebrands to CPDbox
My dear readers, subscribers, followers, and friends, I am very excited to announce that IFRSbox has been rebranding to CPDbox. As you can see, our URL has already changed to www.cpdbox.com, and our logo has also changed. More changes will follow shortly to make a…
IFRS vs US GAAP in 2020: Top 5 Most Common Differences
A few years ago I wrote an article about differences between IFRS and US GAAP. And, I was completely wrong! Why? I assumed, or better said – I expressed the hope that by 2015, we would have a single set of the global reporting standards….
IFRS 3: A Business or an Asset?
Did you note that with the globalizing world, the number of large entities decreases and their size increases? Just as an example – 20 years ago, there were about 50 large media companies in the USA, controlling US entertainment industry. I mean film studios, TV…
Example: Leases under IFRS 16 during COVID-19
The pandemics of coronavirus, or COVID-19 has been here for a while and after the first shock of its quick spread and effect on people’s health, we are all seeing its economic consequences. In order to stop the spread, governments in many countries ordered complete…
IAS 10 Events After the Reporting Period
The standard IAS 10 has been here for a long time. In fact, it is one of the oldest standards in place. It is sweet and short and often it is seen as a minor thing compared to other complex standards. However, the ongoing pandemic…
Coronavirus and IFRS – What is happening?
Over past few months, coronavirus became the most mentioned word everywhere. No wonder – not only it takes lives of our dear ones, but it also affects our daily life in many different ways. In many countries, people cannot go to work, kids cannot go…
How to Measure Fair Value in Agriculture – IAS 41 and IFRS 13
Agriculture is a huge sector, significantly contributing to the world’s GDP. According to the World Bank, in 2018 the value added in the agricultural sector represented 10.39% on total GDP in average – which is HUGE! After all, we all need to eat. Besides its…
Measuring expected credit loss: Loss rate vs. Probability of default
Some time ago I published an article about calculating bad debt provision in line with IFRS 9. Precisely speaking, it was about measuring expected credit loss using simplified approach for trade receivables – just to be on the safe side. Since then, I keep receiving…
How to Account for Cryptocurrencies in line with IFRS
Cryptocurrencies + their accounting under IFRS explained very clearly. Video included!
