Current or Non-Current?
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…
How to Capitalize Borrowing Costs under IAS 23
Should you capitalize or not? When it comes to determining the cost of your assets, most standards ask to include all directly attributable items. What about interest and other borrowing costs? Did you know that if you have 10 dollars in your pocket and no…
Can you capitalize it as PPE or not?
Is it an item of property, plant and equipment or a part of its cost? Or is it a piece of inventories instead? Or just an expense that goes straight in profit or loss? Hmmm, what about an intangible asset? In 90% of all cases,…
US GAAP vs IFRS
IFRS and US GAAP come closer to each other and the dream was to have a single set of the reporting standards until 2015. Now we know that that dream did not come true and there is still a long way to go. Until then, there…
Recent Comments
- Yassirli on Example: Leases under IFRS 16 during COVID-19
- Acil Virgianto on Example: Leases under IFRS 16 during COVID-19
- Nadin on 2 Steps to Distinguish Other Comprehensive Income from Profit or Loss and Changes in Equity
- Nariman on How to Account for Spare Parts under IFRS
- Hameed Zafar on Summary of IAS 40 Investment Property
Categories
- About IFRS (15)
- Accounting estimates (IAS 8) (5)
- Accounting policies (4)
- Consolidation and Groups (21)
- Employees (8)
- FAQ (1)
- Financial Instruments (47)
- Financial Statements (26)
- Foreign currency (9)
- How To (18)
- IFRS Accounting (65)
- IFRS Summaries (28)
- IFRS videos (41)
- Impairment of assets (6)
- Income Tax (9)
- Intangible assets (8)
- Inventories (14)
- Leases (17)
- Most popular (6)
- Not just IFRS (10)
- Podcast (32)
- PPE (IAS 16 and related) (39)
- Provisions and Contingencies (5)
- Revenue recognition (19)
- Sectors&Industries (4)
- Uncategorized (2)
- US GAAP (3)