IFRSbox Rebrands to CPDbox

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My dear readers, subscribers, followers, and friends, I am very excited to announce that IFRSbox has been rebranding to CPDbox. As you can see, our URL has already changed to www.cpdbox.com, and our logo has also changed. More changes will follow shortly to make a transition smoothly.   Why CPDbox? Because I want this site … Read more

IFRS vs US GAAP in 2020: Top 5 Most Common Differences

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A few years ago I wrote an article about differences between IFRS and US GAAP. And, I was completely wrong! Why? I assumed, or better said – I expressed the hope that by 2015, we would have a single set of the global reporting standards. Now, it is 2020 and although the world has come … Read more

001: What closing rate to apply when more rates are available?

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http://traffic.libsyn.com/ifrsqa/QA001_DualRatesIFRS.mp3 Podcast: Play in new window | Download   Transcript: What closing rate should you apply when more rates are available? Hi guys, this is Silvia of IFRSbox.com and welcome to the very first episode of IFRS Q&A or questions and answers with me. I’m here for you, and each week I hope I’ll be … Read more

002: How to deal with different useful lives of PPE within the group?

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http://traffic.libsyn.com/ifrsqa/IFRS_QA_002__How_to_handle_different_useful_lives_of_PPE_within_the_group_.mp3 Podcast: Play in new window | Download   Show notes IFRS Question 002: Different useful life of PPE within the same group We have a head office in Singapore and subsidiaries in various countries. The headquarters of the parent company set the useful lives of the property, plant and equipment (PPE) for the whole … Read more

003: Can you capitalize demolition cost under IFRS?

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http://traffic.libsyn.com/ifrsqa/QA003DemolitionCostsIFRS.mp3 Podcast: Play in new window | Download   Show notes IFRS Question 003: Capitalizing demolition cost and carrying amount of old building We are auditors and need your advice on the following situation for our client: They have freehold land with building with total cost of CU 20 mil. acquired in 2015. The building … Read more

004: Can we classify loans with variable interest at amortized cost?

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http://traffic.libsyn.com/ifrsqa/QA004LoansVariableInterest.mp3 Podcast: Play in new window | Download   Show notes IFRS Question 004: Variable-interest loan with collateral – at amortized cost? We provided a loan with a variable interest rate and there is a limitation for max/min interest rates to be paid. Will this feature prevent this loan from passing SPPI test (solely payment … Read more

005: How to account for dividends paid to employees?

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http://traffic.libsyn.com/ifrsqa/QA005DividendstoEmployees.mp3 Podcast: Play in new window | Download   Show notes IFRS Question 005: Accounting for dividends paid to employees Our company policy is to pay 2% of the net profit to our employees who worked for us during the full previous year – from 1 January to 31 December. We booked the dividends for … Read more

006: How to account for contracts to buy commodities with future delivery (own use)?

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http://traffic.libsyn.com/ifrsqa/006CommodityContracts.mp3 Podcast: Play in new window | Download Show notes IFRS Question 006: Accounting for own-use contracts under IFRS 9 Our company produces metal products and we buy lots of raw materials, like lead, nickel, copper iron. We often enter into contracts for future delivery, for example, to purchase 10 tons of nickel with delivery … Read more