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http://traffic.libsyn.com/ifrsqa/031ElectricityAgentPrincipal.mp3 Podcast: Play in new window | Download Show notes IFRS Question 031: Agent or principal? A real estate company, which rents out units to different tenants and charges its own rate on utilities like electricity to tenants, at the rates set by the company (not by utility provider). The company pays the electricity bill … Read more

http://traffic.libsyn.com/ifrsqa/032IncrementalBorrowingRateIFRS16MQ.mp3 Podcast: Play in new window | Download Show notes IFRS Question 032: Discount rate for lessees under IFRS 16 We are implementing IFRS 16 Leases. We have a lot of operating leases for which we need to calculate right-of-use asset. And, we need to determine the right discount rate. We simply calculated the internal … Read more

http://traffic.libsyn.com/ifrsqa/033SettlementDiscounts.mp3 Podcast: Play in new window | Download Show notes IFRS Question 033: How to account for settlement discounts under IFRS 15? Today’s question is not so much a question, but a nice discussion I had with Mr. David Kolitz, an academic from the University of Exeter in the UK and author of financial accounting … Read more

http://traffic.libsyn.com/ifrsqa/034FinancialGuarantees.mp3 Podcast: Play in new window | Download Show notes IFRS Question 034: How to account for financial guarantees under IFRS 9? Hi Silvia, we have a subsidiary in a foreign country and the subsidiary needed to take a loan. The bank provided a loan, but we, the parent company, had to guarantee that we … Read more

http://traffic.libsyn.com/ifrsqa/035FairValueMachine.mp3 Podcast: Play in new window | Download Show notes IFRS Question 035: How to determine a fair value of a machine? We have a machine and we need to determine its fair value. We purchased the machine about 2 years ago for 50 000 USD and then we paid 10 000 USD to make … Read more

http://traffic.libsyn.com/ifrsqa/036ContractAssetReceivable.mp3 Podcast: Play in new window | Download Show notes IFRS Question 036: What is the difference between a contract asset and an account receivable? What is the difference between contract asset and an account receivable? I know that contract asset is a new term under IFRS 15, but I just don’t understand when we … Read more

http://traffic.libsyn.com/ifrsqa/037SoftwareLicenses.mp3 Podcast: Play in new window | Download Show notes IFRS Question 037: How to account for the sales of software licenses with subsequent updates? Hi Silvia, we are a software company. We develop various technical software programs and sell them to the clients together with 1-year of updates. How to account for the sale … Read more

http://traffic.libsyn.com/ifrsqa/038DTExpectedManner.mp3 Podcast: Play in new window | Download Show notes IFRS Question 038: How to calculate deferred tax when different tax rates apply to the recovery of the same asset? I work in a country with more than one tax rates and I have issues with the correct calculation of our deferred taxes. It relates … Read more

http://traffic.libsyn.com/ifrsqa/039_IFRS15Distinct.mp3 Podcast: Play in new window | Download Show notes IFRS Question 039: How to determine whether the performance obligation is distinct? I work for a software company. We develop software and sell it to our clients. Clients can buy the installation services from us. Also, we provide 1-year of support services after the purchase. … Read more

http://traffic.libsyn.com/ifrsqa/040_InvestmentGold.mp3 Podcast: Play in new window | Download Show notes IFRS Question 040: Accounting for investment gold under IFRS Hi Silvia, how should we account for the gold under IFRS, especially if it was acquired as a form of value storage? Should we account for the gold under IFRS 9 and IAS 32 as a … Read more