024: How to capitalize exchange differences on loan as borrowing costs?
Can you capitalize exchange differences on foreign currency loans as borrowing costs? If yes, then how? Please find out here!
IAS 38: Intangible Asset or Expense?
Recently I had an argument with auditors of one company related to the customer list they bought. The company paid significant amount of cash for the list of customers of telecommunications. The list contained the names, addresses and phone numbers of all the clients. And,…
023: How to match a government grant with costs for which the grant compensates?
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!
022: Can you capitalize assets placed in customer’s premises?
How to account for assets which you gave for free to your clients for promotion purposes? Branded refridgerators, stands, displays, lights, signs – can you capitalize them? Find out here!
How to Consolidate Special Purpose Entity
I lost my first serious job in Arthur Andersen in 2001. I was devastated, because I really loved that job. Yes, it was full of hard work and long overtimes, but it was the best accounting and auditing school ever. How did I lose my…
018: How to account for income from loan application fees?
How to account for the loan origination fees or the loan servicing fees? In profit or loss? Amortize? Find out here!
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