IAS 23 Borrowing Costs Explained (2025) + Free Checklist & Video
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…
3 Biggest Myths in Accounting for PPE
I often talk with many professionals about a practical application of IFRS and the topic of long-term tangible asset is very frequent. To my surprise I found out that a lot of them believed that with regard to accounting for property, plant and equipment (especially…
Can you capitalize it as PPE or not?
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%…
How to Account for Artwork under IFRS
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…
Our machines are fully depreciated, but we still use them! What shall we do?
Do you work in the production company? And did you find out that some of your production assets are still in operation but they were fully depreciated? In this case, the original estimate of machinery’s useful life proved to be incorrect. Here’s one of the…
IAS 36 Explained (2025): Full Impairment Guide + Free Practical Checklist
Updated: April 2025 IAS 36 prescribes the procedures to make sure that an asset is carried at no more than its recoverable amount. This guide breaks it down clearly, plus it includes a free video lecture and downloadable IAS 36 practical checklist. Jump to section:…
How to Calculate Pre-tax Rate for Value in Use
Dealing with impairment of assets, or cash generating units (CGU), involves one quite difficult task – to determine asset’s / CGU’s recoverable amount. Sometimes it might be an easy job, especially when fair value can be established and it is probably higher than value in…
IAS 16 PPE Explained (2025): Full PPE Guide + Free Compliance Checklist
Updated: April 2025 IAS 16 sets the rules for accounting for Property, Plant and Equipment (PPE). This guide breaks it down clearly, plus it includes 2 free video lectures and downloadable IAS 16 compliance checklist. Jump to section: 1. Free VIDEO lecture: Overview of IAS…
