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    IFRS 15 loan origination fees

    How to account for income from loan application fees?

    by Silvia

    How to account for the loan origination fees or the loan servicing fees? In profit or loss? Amortize? Find out here!

    Financial Instruments 46

    Can We Interrupt Depreciation due to Covid-19 Pandemics? 3 Tips & Tricks

    by Silvia

    Lockdowns stripped many businesses of their revenues due to temporary closures and ban on activities. However, businesses still have assets and related expenses. For example depreciation. Many businesses still need to charge the depreciation despite having zero revenues, and as a result they end up…

    Accounting Policies and Estimates, Non-current Assets 23

    IFRS 17 – The 3 Greatest Misconceptions

    by Silvia

    To err is human. But the following mistakes are not the ones you can afford to make in a board meeting or a job interview. Because, no matter how right these notions sound or how prevalent these views are, they are still very “wrong”: IFRS…

    Insurance 0

    Accounting for CAPEX threshold and its change under IFRS

    by Silvia

    What happens when you buy lots of assets below your capex threshold, but still high expense? And, should you revise your capex threshold retrospectively? Learn here!

    Accounting Policies and Estimates, Financial Statements, IFRS Videos, Non-current Assets 20
    IFRS 16 lease term

    What is the lease term of cancellable property rental contracts under IFRS 16?

    by Silvia

    What is the lease term under IFRS 16? How to account for definite or indefinite lease term with 2-months notice period? Learn here.

    Provisions and Other Liabilities 43

    Projected Unit Credit Method (IAS 19) with Example

    by Silvia

    Recently I got across the interesting question. One lady working for a company adopting IFRS for the first time asked me if they can still mark their financial statements as compliant with IFRS, if they do not apply projected unit credit method, but do apply…

    IFRS Videos, Provisions and Other Liabilities 10

    Contract Asset vs. Trade Receivable – What’s the Difference?

    by Silvia

    What is the difference between contract asset and receivable? When to book a contract asset and when a receivable? Learn here (with example)!

    Current Assets, Financial Instruments, IFRS Videos, Revenue Recognition 59

    ECL: How to Measure Probability of Default

    by Silvia

    Expected credit loss challenges many experienced accountants and finance people, because it contains the element of uncertainty and some sort of guessing or estimating what can happen in the future. That’s why it is “expected” after all. I wrote a few articles about the process…

    Financial Instruments 23
    IFRS Warranty

    How to account for warranties under IFRS 15?

    by Silvia

    Should you book a provision for warranties under IFRS? Or, is it a separate performance obligation and you should allocate some revenue to it? Find out here!

    Revenue Recognition 17

    How to Write Notes to Financial Statements under IFRS

    by Silvia

    Warren Buffett once said: “Other guys read Playboy. I read annual reports.” This is a profound statement indicating that Warren Buffett actually takes his time to go through a complete annual report, including the financial statements and notes. Thus, Mr. Buffett does NOT consider the…

    Financial Statements 6
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