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    IAS12 Tax rates

    Deferred tax when different tax rates apply

    by Silvia

    What if the tax rate on capital gains is different from the tax rate on profit? How to calculate deferred tax on assets that will be recovered via both use and sale? Learn here!

    Provisions and Other Liabilities 5
    IAS 21 Functional Currency

    028: How to determine the functional currency when a company deals with more currencies?

    by Silvia

    Imagine you sell in EUR, make purchases in INR and your loans are denominated in USD… what is your functional currency in this case? Learn here!

    Foreign Currency 17
    IFRS transfers of property

    Accounting for transfer of owner-occupied property under revaluation model to investment property

    by Silvia

    What to do with revaluation surplus when transferring your PPE to investment property? How to account for it at the date of transfer and subsequently? Learn here!

    Non-current Assets 20
    IFRS hotel

    Is a hotel an investment property under IAS 40?

    by Silvia

    How to classify any property (not just a hotel) if you use it for more purposes? And, what to do if you provide some additional services on top of rental? Find out here!

    Non-current Assets 9
    IFRS capitalize exchange rate differences

    How to capitalize exchange differences on loan as borrowing costs?

    by Silvia

    Can you capitalize exchange differences on foreign currency loans as borrowing costs? If yes, then how? Please find out here!

    Non-current Assets 15
    IAS 20

    How to match a government grant with costs for which the grant compensates?

    by Silvia

    How should you match the government grant with expenses for which it compensates? Sometimes, it’s not very straightforward and we need to apply our judgement and experience. Learn how to account for the grant revenue here!

    Non-current Assets 2
    IFRS Breakage

    How to account for gift cards?

    by Silvia

    How to account for sale of gift cards? What do to when the customers don’t redeem them? Find out here!

    Revenue Recognition 30

    How to classify expenses in profit or loss statement under IFRS?

    by Silvia

    How to classify depreciation of warehouse? Is it cost of sales or administrative expense? What to do when the classification changes? Learn here!

    Financial Statements 23
    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
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    • Silvia on Example: How to Consolidate
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    • Alex Kipchirchir on IFRS 18 Presentation and Disclosure in Financial Statements: summary

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