How to present restricted cash under IFRS?
Advances from your clients received in cash… but you can’t use that cash. That’s just one example of restricted cash. How should you present it under IFRS?
IFRS vs US GAAP in 2020: Top 5 Most Common Differences
A few years ago I wrote an article about differences between IFRS and US GAAP. And, I was completely wrong! Why? I assumed, or better said – I expressed the hope that by 2015, we would have a single set of the global reporting standards….
IAS 10 Events After the Reporting Period
The standard IAS 10 has been here for a long time. In fact, it is one of the oldest standards in place. It is sweet and short and often it is seen as a minor thing compared to other complex standards. However, the ongoing pandemic…
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…
Example: IAS 33 EPS and Rights Issue
Step-by-step calculation of earnings per share in line with IAS 33 for the rights issue.
Adopting IFRS 16 – What Is The Best Option For You?
Let’s compare different transition options that you have when adopting IFRS 16 in your company. Let’s see what they are, which one is easier and which one has the smallest impact on your equity.
Conceptual Framework for the Financial Reporting 2018
The summary of the Conceptual Framework for Financial Reporting 2018 – with VIDEO!!!
How to make a change in functional currency
Some time ago I was a part of an audit team auditing the financial statements of a medium-sized manufacturing company. When we received the trial balance of that client, we spotted something strange: There were loads of transactions in a foreign currency and resulting impact…
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…
