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…
How New Impairment Rules in IFRS 9 Affect You
In July 2014, the standard IFRS 9 was finally completed and the latest amendments brought us new impairment rules (besides the other things). In my humble opinion, new impairment rules will cause a lot of headaches for mainly financial institutions. Why? Well, they will have…
Deferred Tax: The Only Way to Learn It
Deferred tax is neither deferred, nor tax: it is an accounting measure, more specifically an accrual for tax. I’m very proud to publish the first guest post ever in this website, written by Professor Robin Joyce FCCA who will explain you, in a detail, how…
IAS 28 Investments in Associates and Joint Ventures
Let’s focus on associates, joint ventures, significant influence and equity method today. You have already learned various aspects of having control over some investment: how to identify it, how to account for it and we also learned basic consolidation procedures step by step. It was…
Can you capitalize it as PPE or not?
Last update: 2023 Is it an item of property, plant and equipment or a part of its cost? Or is it a piece of inventories instead? Or just an expense that goes straight in profit or loss? Hmmm, what about an intangible asset? In 90%…
Example: How to Consolidate
Step-by-step solved example of consolidation under IFRS 10 with video and excel. You will learn exactly WHAT you are doing and WHY you are doing this. If you apply this systematic method, your balance sheet will always BALANCE with no errors.
IFRS 3 Business Combinations
When should you apply IFRS 3 and when IFRS 10? What is the difference between IFRS 3 Business Combinations and IFRS 10 Consolidated Financial Statements? Today, I’d like to continue our “consolidation” series and after the introductory lesson and the summary of IFRS 10, let’s…
How to Account for Artwork under IFRS
A few weeks ago I visited our dentist together with my little 4-year old girl just to check up everything’s OK with her little teeth. While we were sitting in the waiting room, my little one playing with the small teeth replicas (OMG!), I looked…
IFRS 10 Consolidated Financial Statements
In my previous article I introduced the world of group accounts and consolidation to you. You learned that there about 6 IFRS dealing with this topic. Here, I’d like to summarize the first “consolidation” standard dealing with the consolidated financial statements: IFRS 10. What is…
Intro To Consolidation And Group Accounts – Which Method For Your Investment?
Update 2023: Please scroll down to download the infographics for your future reference. Buying a foreign company or just some shares, building up an entirely new business or starting mutual venture with somebody else are some basic ways of spreading the business activities. Consolidation goes…
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