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    Current or non-current IFRS

    Current or Non-Current?

    by Silvia

    Most balance sheets present individual items in distinction to current and non-current (except for banks and similar institutions). This seems so basic and obvious that most of us do not really think about classifying individual assets and liabilities as current and non-current. We do it…

    Current Assets, Financial Instruments, Financial Statements, Non-current Assets 100
    IFRS employee loans

    How to Account for Employee Loans (interest-free or below-market interest)

    by Silvia

    After I wrote an article about capitalizing borrowing cost, I got a lot of e-mails asking me actually HOW to account for loans that do not bear the interest rate reflecting market conditions. In other words, how to account for loans at below-market interest rate,…

    Financial Instruments, Provisions and Other Liabilities 162
    Monetary or non-monetary?

    Monetary or Non-Monetary?

    by Silvia

    When you need to translate your items denominated in foreign currency to your own functional currency, then there’s one little problem: Is that item monetary or non-monetary? If you determine the nature of your item incorrectly, it can lead to totally wrong presentation in the…

    Financial Instruments, Foreign Currency, Most popular, Non-current Assets 283
    IFRS in banks

    IFRS for Banks and Financial Institutions

    by Silvia

    If you work for a bank or any other financial institution, then you are very well aware of the fact that IFRS is a little bit different there. OK, not quite like that: IFRS is still the same, just the way how you use it…

    Financial Instruments, Financial Statements 55
    Ignoring hedging

    How Ignoring Hedging Can Hurt Your Business

    by Silvia

    Hedge accounting has a reputation as being one of the most difficult areas for people to get to grips with, which is a shame because it is a very useful accounting “technology”. You can find several articles related to basics of hedge accounting in line…

    Financial Instruments 9
    PrepaymentsForeignCurrencyIFRSL

    Accounting for Prepayments in Foreign Currency under IFRS

    by Silvia

    Transactions in foreign currencies are sometimes a nightmare. Obviously, we are trading with each other, our own currencies are different and foreign exchange rates are jumping up and down constantly. We are all aware of basic rules with regard to selection of appropriate exchange rate…

    Financial Instruments, Foreign Currency 101
    IFRSChanges2014

    Top 5 IFRS Changes Adopted in 2014

    by Silvia

    The year 2014 brought us some very significant changes in IFRS. While some changes might not give you a hard time to adopt, the other changes can cost you a lot of money and time to make them effective in your company. The year 2014…

    Consolidation and Groups, Financial Instruments, IFRS Videos 11
    Expected credit loss IFRS 9

    How New Impairment Rules in IFRS 9 Affect You

    by Silvia

    In July 2014, the standard IFRS 9 was finally completed and the latest amendments brought us new impairment rules (besides the other things). In my humble opinion, new impairment rules will cause a lot of headaches for mainly financial institutions. Why? Well, they will have…

    Financial Instruments 121
    CFhedgeFVhedgeIFRS

    Difference Between Fair Value Hedge and Cash Flow Hedge

    by Silvia

    The first thing you need to do before you even start to play with hedge accounting is to determine the TYPE of hedge relationship that you’re dealing with. Why? Because: the type of hedge determines your accounting entries. Make no mistake here. If you incorrectly…

    Financial Instruments, Most popular 243
    IFRSChanges2014

    Top 5 IFRS 2014 and 2013 Changes

    by Silvia

    The year 2013 started off with some really significant IFRS amendments that you need to take into account when preparing your IFRS financial statements as at 31 December 2013. Although these changes should be applied in the year 2013 for the first time, you also…

    Consolidation and Groups, Financial Instruments, IFRS Videos, Provisions and Other Liabilities 16
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