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    IAS 2 Inventories

    IAS 2 Cost Formulas: Weighted average, FIFO or FOFO?!

    by Silvia

    During my ACCA studies some years ago I had an amazing tutor. He was very smart, always to the point and on top of that, I simply loved his dry British sense of humor. When we talked about inventories, he told us a story about…

    Current Assets 103
    The Best of IFRSBox

    The Best of CPDbox 2015

    by Silvia

    The year-end is coming closer and closer; the closings have already started to push their pressure on all of us, the exam season approaches and we live the busy lives. I know that this part of the year is usually the second busiest for any…

    Current Assets, Financial Instruments, Foreign Currency, Revenue Recognition 67
    IFRS Spare parts

    How to Account for Spare Parts under IFRS

    by Silvia

    One of the biggest issues related to property, plant and equipment is accounting for spare parts, servicing equipment, stand-by equipment and similar items. IFRS standards are pretty silent about this topic, the guidance is very limited and as a result, companies need to rely on…

    Current Assets 179
    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 107
    IAS 23 Borrowing Costs

    IAS 23 Borrowing Costs Explained (2025) + Free Checklist & Video

    by Silvia

    Updated: May 2025 Capitalizing borrowing costs under IAS 23 can be surprisingly tricky — especially with general borrowings, foreign currency loans, or intercompany financing. In this guide, we will dive in to learn the key rules, give you worked examples, and help you avoid common…

    Current Assets, IFRS Videos, Non-current Assets 194
    IAS16PPECostLL

    Can you capitalize it as PPE or not?

    by Silvia

    Last update: 2023 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%…

    Current Assets, Non-current Assets 471
    How to account for artwork under IFRS

    How to Account for Artwork under IFRS

    by Silvia

    A few weeks ago I visited our dentist together with my little 4-year old girl just to check up everything’s OK with her little teeth. While we were sitting in the waiting room, my little one playing with the small teeth replicas (OMG!), I looked…

    Accounting Policies and Estimates, Current Assets, Non-current Assets 60
    US GAAP vs IFRS

    US GAAP vs IFRS

    by Silvia

    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…

    Current Assets, Financial Instruments, Other Topics, Revenue Recognition 34
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