2 Steps to Distinguish Other Comprehensive Income from Profit or Loss and Changes in Equity
Update 2023 – please scroll below to download 1-page infographic summing this all up. Totally free. Some time ago, standard IAS 1 Presentation of Financial Statements significantly changed and introduced the statement of other comprehensive income. And then it began: lots of confusion, frustration and…
IFRS 13 Fair Value Measurement
Many IFRS standards require you to measure the fair value of some items. Just name the examples: financial instruments, biological assets, assets held for sale and many other. In the past, there was limited guidance on how to set fair value; the guidance was spread…
How to Account for Compound Financial Instruments (IAS 32)
Compound financial instruments became very common way of raising cash by many companies, but their shareholders don’t like them that much. Why? Because many compound financial instruments contain the option to convert into shares. Just imagine you purchased convertible bond that gives you the right…
IAS 19 Employee Benefits
Last update: July 2023 Standard IAS 19 Employee Benefits prescribes rules for recognition and presentation of various types of benefits that employers provide to their employees. Have you ever read about employee benefits that the best employer in the world—Google provides to its employees? Just…
IAS 18 Revenue
The world today is packed with different kinds of products, services, transactions and many other activities that people and business do. Logically, it is sometimes very tough issue for accountants to determine WHEN and even WHETHER to recognize revenue in the financial statements. That’s exactly…
IAS 17 Leases
IAS 17 Leases deals with the accounting and financial reporting of the very common business transaction—lease. Leases are the great example of “off-balance sheet” financing if not recorded properly in the financial statements. In the past, many companies used to hide their finance lease liabilities and…
FAQ–Certification and CPD Training
From the certain point of time, we have started to receive a lot of questions about certification of our training. Truly speaking, I understand that no one watches videos on IFRS just for fun, but also in order to improve professional qualification and gain some…
Brief IFRS Glossary
International Financial Reporting Standards are usually presented in a certain structure. Most of IFRS is clearly subdivided into several chapters that carry their titles, for example: Recognition, Measurement, Derecognition etc. This article defines the main terms as used in IFRS and shows example of their application….
How to Add Simple Illustration to Your Reports
Have you ever seen some article with huge chunk of text? How appealing was it to you? Probably not that much. Frankly speaking, when I see such a piece, I just don’t read the text in the first instance. I quickly scroll through it, look to…
How to Extrapolate Along Yield Curve
Recently, during my lecture about financial instruments, I got a very interesting question from one clever participant. To give you a little background: He was a finance guy working in a huge company and for sure, he came across various accounting issues and problems. One…
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