IAS 23 Borrowing Costs Explained (2025) + Free Checklist & Video
Updated: May 2025 Capitalizing borrowing costs under IAS 23 can be surprisingly tricky — especially with general borrowings, foreign currency loans, or intercompany financing. In this guide, we will dive in to learn the key rules, give you worked examples, and help you avoid common…
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
Last update: March 2025 Free video lecture with the rules of IAS 37: Have you ever heard a joke about two accountants applying for a job? During their interview, they were given a task to calculate a net profit figure based on available data. After…
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…
International IFRS Conference in India – My Views and Insights
Today’s article is totally different from any other post on this website. Why? I was invited to participate in an International IFRS Conference in Hyderabad, India on March 14-15 2015 and here, I’d like to share my own impressions and experiences from the touch with…
IFRS for Banks and Financial Institutions
If you work for a bank or any other financial institution, then you are very well aware of the fact that IFRS is a little bit different there. OK, not quite like that: IFRS is still the same, just the way how you use it…
IFRS 15 Examples: How IFRS 15 Affects Your Company
IFRS 15 Contracts with Customers introduced a huge change and a very difficult challenge for almost every single company. After I wrote a couple of articles about IFRS 15 here and here, and after I discussed with some of my friends CFOs or auditors, there…
How Ignoring Hedging Can Hurt Your Business
Hedge accounting has a reputation as being one of the most difficult areas for people to get to grips with, which is a shame because it is a very useful accounting “technology”. You can find several articles related to basics of hedge accounting in line…
Accounting for Prepayments in Foreign Currency under IFRS
Last update: 2023 Transactions in foreign currencies are sometimes a nightmare. Obviously, we are trading with each other, our own currencies are different and foreign exchange rates are jumping up and down constantly. We are all aware of basic rules with regard to selection of…
Top 5 IFRS Changes Adopted in 2014
The year 2014 brought us some very significant changes in IFRS. While some changes might not give you a hard time to adopt, the other changes can cost you a lot of money and time to make them effective in your company. The year 2014…
IFRS 11 Joint Arrangements
Joint venture or joint operation? What is joint control? How to account for joint arrangements? In our consolidation series, we have already covered investments in subsidiaries (IFRS 3 and IFRS 10), associates (IAS 28) and other financial instruments. Today, we’ll take a look at the…
