Contract Asset vs. Trade Receivable – What’s the Difference?
What is the difference between contract asset and receivable? When to book a contract asset and when a receivable? Learn here (with example)!
IFRS 2019 Update: Major changes you should be aware of
Here we go again – another year has started and a number of changes or amendments of IFRS came into effect. I am pretty sure that you are aware of the biggest ones like new IFRS 16, but let me sum up all the new…
039: Distinct or not distinct under IFRS 15?
How to determine whether the performance obligations in the contract are distinct or not distinct under IFRS 15? Find out here, with example included!
037: Accounting for the sales of software licenses with subsequent updates
How to apply 5-step model of IFRS 15 to the licenses of intellectual property? Are there any special considerations? Learn here!
Example: Construction contracts under IFRS 15
How to account for construction contracts under IFRS 15? Learn here on a complex solved example with calculations and journal entries!
033: How to account for settlement discounts under IFRS 15?
Should you recognize settlement discount as a cost at the time when the payment is received? Or, should you adjust revenue? How? Learn here!
031: We rent apartments and supply utilities with rent. Are we agent or principal?
If you are using third-party supplies within your product or service, are you an agent or a principal? How should you recognize revenue in this case? Learn here!
021: How to account for warranties under IFRS 15?
Should you book a provision for warranties under IFRS? Or, is it a separate performance obligation and you should allocate some revenue to it? Find out here!
020: How to account for gift cards?
How to account for sale of gift cards? What do to when the customers don’t redeem them? Find out here!
012: How to account for barter transactions?
How to account for exchanges of inventories or long-term assets under IFRS? Or other barter transactions? Learn here!
