Can you capitalize demolition cost under IFRS?
If you acquired land with some old building and you plan to demolish that building, how should you treat the demolition cost and the carrying amount of old building? Can you capitalize it to the new asset? Or expense it? It depends…
How to deal with different useful lives of PPE within the group?
How to handle the situation when the parent requires subsidiary to apply different depreciation rates or useful lives than in the local legislation.
What closing rate to apply when more rates are available?
What closing rate shall you select under IFRS when more rates are available at the reporting date (mid rate, sell rate, buy rate)? Find out here…
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…
How to Account for Cryptocurrencies in line with IFRS
Cryptocurrencies + their accounting under IFRS explained very clearly. Video included!
Conceptual Framework for the Financial Reporting 2018
The summary of the Conceptual Framework for Financial Reporting 2018 – with VIDEO!!!
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…
Example: IFRS 10 Disposal of Subsidiary
Updated 2025: Disposal of a subsidiary step-by-step under IFRS 10 lecture: Some time ago I published an article with an example of very simple method of consolidating a parent and a subsidiary. This article still applies and you can learn the basic steps and methodology…
How to Account for Intangible Assets under IAS 38
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!
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…
