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    035: 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    Market prices of most non-financial assets are usually not available, because these assets might be outdated or highly customized or simply not traded on the market.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, Podcasts 14

    Example: Construction contracts under IFRS 15

    by Silvia

    How to account for construction contracts under IFRS 15? Learn here on a complex solved example with calculations and journal entries!

    Revenue Recognition 113

    033: 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!

    Podcasts, Revenue Recognition 18

    032: 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!

    Podcasts, Provisions and Other Liabilities 39

    031: 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!

    Podcasts, Revenue Recognition 4

    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 16

    How to Account for Intangible Assets under IAS 38

    by Silvia

    Is it an asset or an expense? How to account for amortization? What if the asset has indefinite useful life? Learn here in our newest article with the video in the end!

    IFRS Videos, Non-current Assets 52

    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, Podcasts 16

    027: Examples: 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, Podcasts 9

    026: 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, Podcasts 20
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