017: Subsequent expenditures in agriculture

by

http://traffic.libsyn.com/ifrsqa/017_ExpenseAgriculture.mp3 Podcast: Play in new window | Download Show notes   IFRS Question 017: How to account for expenses related to agricultural activity? I work for a company that owns a few sheep farms. We are breeding sheep for sale and for the purpose of the production of sheep products like milk, cheese and other. … Read more

018: How to account for income from loan application fees?

by

http://traffic.libsyn.com/ifrsqa/018LoanTranFees.mp3 Podcast: Play in new window | Download Show notes   IFRS Question 018: How to account for loan transaction fees? I work for a banking industry and my bank is charging a fee of 3% for each loan issued to customers on some of loan categories. However such fee is divided into two categories: … Read more

019: Can you capitalize rental expenses of land?

by

http://traffic.libsyn.com/ifrsqa/019_CapitalizeLandLease.mp3 Podcast: Play in new window | Download Show notes IFRS Question 019: Capitalization of the rental expenses We run the school and we plan to build the new school building on the leased land. We leased a land from the government for 40 years with an option to renew for another period. The rentals … Read more

020: How to account for gift cards?

by

http://traffic.libsyn.com/ifrsqa/020Breakage.mp3 Podcast: Play in new window | Download Show notes   IFRS Question 020: Accounting for gift cards and prepaid future services I am an accountant in a retail chain. We sell clothes, accessories and home decorations. We also sell gift cards of certain value. For example, a customer can purchase a gift card of … Read more

021: How to account for warranties under IFRS 15?

by

http://traffic.libsyn.com/ifrsqa/021WarrantiesIFRS15.mp3 Podcast: Play in new window | Download Show notes IFRS Question 021: Accounting for warranties under IFRS 15 Our company provides 1-year warranty to all our products in line with our legislation, but the client can extend this warranty at 3 years for a fee. Is this a separate performance obligation under IFRS 15? … Read more

022: Can you capitalize assets placed in customer’s premises?

by

http://traffic.libsyn.com/ifrsqa/022AdvertisingAssets.mp3 Podcast: Play in new window | Download Show Notes IFRS Question 022: Can we capitalized assets placed in customer’s premises? I work for beverage producer and we sell our drinks to supermarkets, too. We often give the drink stands and refrigerators to supermarkets and they will display our drinks inside. The stands and refrigerators … Read more

023: How to match a government grant with costs for which the grant compensates?

by

http://traffic.libsyn.com/ifrsqa/023GrantMatching.mp3 Podcast: Play in new window | Download Show Notes IFRS Question 023: How to recognize grant income in profit or loss? I work for a real estate development company and we got a grant from international organization to support social housing. The conditions are that we build an apartment house, we will operate it … Read more

024: How to capitalize exchange differences on loan as borrowing costs?

by

http://traffic.libsyn.com/ifrsqa/024ExchangeBorrowingCosts.mp3 Podcast: Play in new window | Download Show Notes   IFRS Question 024: How to deal with exchange differences on foreign currency loans? Dear Silvia, we are a real estate constructor and we took a loan to finance our new construction. In Russia the interest rates are quite high and therefore we negotiated the … Read more

025: Is a hotel an investment property under IAS 40?

by

http://traffic.libsyn.com/ifrsqa/025HotelInvestmentProperty.mp3 Podcast: Play in new window | Download Show notes IFRS Question 025: Is a hotel an investment property? I am an accountant of the hotel chain in India. Our hotels provide short-term accommodation to our guests, but we also have apartments for long-term rentals to residents. Short-term guests have the room, breakfast, cleaning and … Read more

026: Accounting for transfer of owner-occupied property under revaluation model to investment property

by

http://traffic.libsyn.com/ifrsqa/026TransferPPErevalModel.mp3 Podcast: Play in new window | Download Show notes IFRS Question 026: How to account for transfers from owner-occupied property under revaluation model to investment property under fair value model? We apply the revaluation model for accounting for our buildings in line with IAS 16 Property, plant and equipment. Recently, we stopped using one … Read more