IFRS 9: An Auditor’s Perspective
The end of 2018 spelled out relief for most accounting and financial modelling experts responsible for the implementation of IFRS 9: all necessary changes to accounting policies, models and methodologies were designed and enforced, all in time for a lovely Christmas break at the end…
IFRS 2019 Update: Major changes you should be aware of
Here we go again – another year has started and a number of changes or amendments of IFRS came into effect. I am pretty sure that you are aware of the biggest ones like new IFRS 16, but let me sum up all the new…
How to Present Financial Instruments under IAS 32
There are three IFRS covering the area of the most complex IFRS topic – financial instruments: IAS 32 Presentation of Financial Statements – this standard contains basic definitions and rules for presenting of financial instruments; IFRS 7 Financial Instruments: Disclosures – here, you can find…
036: Contract asset vs. account receivable
What is the difference between contract asset and receivable? When to book a contract asset and when a receivable? Learn here (with example)!
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!
016: How to calculate impairment on intercompany loans?
How to determine the impairment on intercompany loans under IFRS 9? What are the special considerations in relation to groups and internal loans? Learn here!
How to account for intercompany loans under IFRS
How to account for intercompany loans under IFRS when there is no documentation, loans are not at commercial terms or there is no fixed repayment date? Learn here!
014: How to present a loan with breached covenants?
So, you have a long-term loan, you breached the covenants and it became repayable on demand. Is it current or non-current? Learn here!
How to calculate bad debt provision under IFRS 9
If you have a large portfolio of trade receivables, then you face the same issue over and over again: How to calculate bad debt provision to these receivables? When I worked as an auditor, I used to discuss this issue with my colleagues very frequently….
What to disclose under IFRS 7 Financial Instruments: Disclosures
About 3 years ago, I was reviewing the financial statements of a medium-sized company providing consumer loans. They needed the IFRS financial statements due to lots of loans taken from foreign banks. Usually, these banks require bigger debtors to provide the financial statements annually. So…
