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    Monetary or non-monetary?

    Monetary or Non-Monetary?

    by Silvia

    Updated: 2023 – please scroll below to download the infographics for your future reference, it is free. 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…

    Financial Instruments, Foreign Currency, Most popular, Non-current Assets 287
    Directly Attributable Costs IFRS

    What are directly attributable costs?

    by Silvia

    Last update: 2023 When you acquire a long-term asset, you can include directly attributable costs to the initial measurement of its cost. Although IFRS define directly attributable expenses quite clearly and provide a few examples, there are many different items we are not sure about….

    Most popular, Non-current Assets 255
    IFRS 16 Leases

    IFRS 16 Leases vs. IAS 17 Leases: How the lease accounting changed

    by Silvia

    In January 2016, IASB issued another important and long-discussed standard: IFRS 16 Leases that will replace IAS 17. Ever since then I receive lots of e-mails asking me to sum up what’s new. OK, so here you go. In this article, you’ll learn about the…

    Most popular, Provisions and Other Liabilities 251
    HowToConsolidateIFRS

    Example: How to Consolidate

    by Silvia

    Updated in 2025: Step-by-step solved example of consolidation under IFRS 10 with video. You will learn exactly WHAT you are doing and WHY you are doing this. If you apply this systematic method, your balance sheet will always BALANCE with no errors.

    Consolidation and Groups, IFRS Videos, Most popular 246
    IFRS 15 vs. IAS 18

    IFRS 15 vs. IAS 18: Huge Change Is Here!

    by Silvia

    How does IFRS 15 change revenue recognition? Does it affect YOU? You’ll find a clear explanation and its comparison with IAS 18 on a numerical example here!

    Most popular, Revenue Recognition 311
    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 244

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