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    IFRS 13 Fair Value Machine

    How to determine the fair value of a machine?

    by Silvia

    Market prices of most non-financial assets are usually not available, because these assets might be outdated or highly customized or simply not traded on the market. How do you set the fair value of these assets in this case? Learn here!

    Non-current Assets 14

    Can you capitalize rental expenses of land?

    by Silvia

    Can you capitalize rental expenses of land under IFRS? And what about the rental of the temporary offices? Find out here!

    Non-current Assets 30
    Allocating overheads IAS2

    How to allocate cost of conversion to inventories at abnormal levels of production?

    by Silvia

    How to allocate fixed overheads to the cost of inventories? What if your production is abnormally high or abnormally low? Find out here with examples included!

    Current Assets 9
    IFRS overhauling

    Should we create a provision for major overhauling?

    by Silvia

    How to deal with anticipated major repairs, maintenance, overhauling, regular replacement of small parts and similar items under IFRS? Find out here!

    Non-current Assets 15

    Distinct or not distinct under IFRS 15?

    by Silvia

    How to determine whether the performance obligations in the contract are distinct or not distinct under IFRS 15? Find out here, with example included!

    Revenue Recognition 10
    IAS 38 Software

    Accounting for the sales of software licenses with subsequent updates

    by Silvia

    How to apply 5-step model of IFRS 15 to the licenses of intellectual property? Are there any special considerations? Learn here!

    Revenue Recognition 20

    How to account for barter transactions?

    by Silvia

    How to account for exchanges of inventories or long-term assets under IFRS? Or other barter transactions? Learn here!

    Current Assets, IFRS Videos, Revenue Recognition 28
    IFRS settlement discount

    How to account for settlement discounts under IFRS 15?

    by Silvia

    Should you recognize settlement discount as a cost at the time when the payment is received? Or, should you adjust revenue? How? Learn here!

    Revenue Recognition 20
    IFRS 16 Discount rate

    How to determine the discount rate for lessees under IFRS 16?

    by Silvia

    Can you use the same incremental borrowing rate for all your leases under IFRS 16? Why can’t you use your own implicit rate in the lease if you are a lessee? Learn here!

    Provisions and Other Liabilities 42
    IFRS Agent or principal

    We rent apartments and supply utilities with rent. Are we agent or principal?

    by Silvia

    If you are using third-party supplies within your product or service, are you an agent or a principal? How should you recognize revenue in this case? Learn here!

    Revenue Recognition 5
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