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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

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

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

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

http://traffic.libsyn.com/ifrsqa/027AllocationCost.mp3 Podcast: Play in new window | Download Show notes IFRS Question 027: Allocating cost of conversion to cost of inventories Dear Silvia, can you please give us the examples of allocation of cost of conversion to the cost of inventories under normal circumstances, when low production and if abnormally high production? I don’t understand … Read more

http://traffic.libsyn.com/ifrsqa/028FunctionalCurrency.mp3 Podcast: Play in new window | Download Show notes IFRS Question 028: How to determine the functional currency? I have a query related to determining the “functional currency”. The standard IAS 21 does not have a lot of examples or details on determining the functional currency where there are various currencies involved in the … Read more

http://traffic.libsyn.com/ifrsqa/029ClassificationExpenses.mp3 Podcast: Play in new window | Download IFRS Question 029: How to classify expenses in profit or loss statement under IFRS? Dear Silvia, I am auditing a company who owns warehouses in several locations and rents the warehouses to other companies. Last year, the company’s owners changed and as a result, there was a … Read more

http://traffic.libsyn.com/ifrsqa/030CapexThreshold.mp3 Podcast: Play in new window | Download Show notes IFRS Question 030: How to deal with the threshold for capitalizing your assets? We have a capex threshold policy where we capitalize all assets with cost higher than the threshold. Let’s say that the threshold is CU 1 000. What if we buy lots of … Read more

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