IFRS S2 Climate-related Disclosures: What, How, When
Climate-related disclosures as arranged by IFRS S2 affect literally every single company without exception (I mean those issuing reports under IFRS). Yes, I know this is a strong statement, but if you keep reading, you will find out why and how. IFRS S1and IFRS S2…
IFRS Sustainability Reporting Just Behind Your Door
It is here. Two newest standards, IFRS S1 and IFRS S2, were published in June 2023. I think that’s not news for anybody with two eyes and ears, because the information spread everywhere. Well, my usual approach is rather practical, so I will skip all…
IAS 8 Accounting Policies, Changes in Accounting Estimates, Errors
Updated in March 2023 I bet every single company needed to change something in its accounting records and financial statements. Often, the change is very small, so you just don’t worry about it and make correction on the go. But sometimes, the change can impact…
Can We Interrupt Depreciation due to Covid-19 Pandemics? 3 Tips & Tricks
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 for CAPEX threshold and its change under IFRS
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!
How to Account for Subsequent Expenditures in Agriculture?
How to account for veterinary costs, animal food, fertilizers, pesticides and other operating expenses in agriculture under IAS 41? Learn here!
How to account for investment in gold under IFRS?
The truth is that there is no specific IFRS related to precious metals. What to do when you buy gold and other metals to store value? Learn here!
Coronavirus and IFRS – What is happening?
Over past few months, coronavirus became the most mentioned word everywhere. No wonder – not only it takes lives of our dear ones, but it also affects our daily life in many different ways. In many countries, people cannot go to work, kids cannot go…
How to Measure Fair Value in Agriculture – IAS 41 and IFRS 13
Agriculture is a huge sector, significantly contributing to the world’s GDP. According to the World Bank, in 2018 the value added in the agricultural sector represented 10.39% on total GDP in average – which is HUGE! After all, we all need to eat. Besides its…
How to account for free assets received under IFRS
The best things in life are free… … at least that’s what Janet Jackson sang in one of her top hits. However, when your company receives some free assets, then the question is: Are they really received at no cost and no strings attached? Is…
