036: Contract asset vs. account receivable

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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

037: Accounting for the sales of software licenses with subsequent updates

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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

038: Deferred tax when different tax rates apply

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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

039: Distinct or not distinct under IFRS 15?

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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

040: How to account for investment gold under IFRS?

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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

What are Consolidated Financial Statements in IFRS 10

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Last update 04/08/2020 What are Consolidated Financial Statements in IFRS 10 and the relations with IFRS 11 IFRS 12 IAS 27 IAS 28 and disclosures for consolidation and investments. Topics hide Look here IAS 27 Separate Financial Statements IFRS 10 Consolidated Financial Statements Investment entity IFRS 11 Joint Arrangements Determination of this classification: Consolidation replacement/alternative … Read more

Overview IFRS 10 Consolidated Financial Statements

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Last update 20/07/2020 Overview IFRS 10 Consolidated Financial Statements – Short – To establish principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities Overview IFRS 10 Consolidated Financial Statements Longer – IFRS 10 replaces the part of IAS 27 Consolidated and Separate Financial Statements that … Read more

IFRS 3: A Business or an Asset?

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Did you note that with the globalizing world, the number of large entities decreases and their size increases? Just as an example – 20 years ago, there were about 50 large media companies in the USA, controlling US entertainment industry. I mean film studios, TV stations and similar companies. These days, there are just 6 … Read more

IFRS 2 Fair value of equity instruments granted

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Last update 10/07/2020 IFRS 2 Fair value of equity instruments granted – Share-based payment transactions with employees are measured with reference to the fair value of the equity instruments granted (IFRS 2.11). The fair value of the equity instruments granted is determined as follows (IFRS 2.16-17): If market prices are available for the actual equity … Read more