How to Account for Customer Incentives under IFRS
Buy one, get one free… Discounts on future purchases… Coupons for free products… Loyalty points… Sounds familiar? Well, if you work in a company that sells some products or services to individuals or general public (not the other businesses), then you probably use some “carrots…
Example: How to Adopt IFRS 16 Leases
In my last article I tried to outline the strategy and your choices when implementing the new lease standard IFRS 16 Leases. I am grateful for many responses and comments I got from you. Almost all e-mails I received from you asked me to publish…
How to Implement IFRS 16 Leases
The new lease standard IFRS 16 is exactly one of these earthshaking things that can make your head spin around. Well, especially if your company uses the operating lease as an effective tool of getting your assets quickly with relatively low risk. I wrote a…
Top 3 Questions about IAS 41 Agriculture
I rarely publish articles about specific sectors, but this time, I decided to make an exception. Why? The reason is that although most of you do NOT deal with agriculture, it is still one of the most important industries in the world. It is so…
CPDbox Recommends 2: What to Read Online (Blogs)
The readers and followers of this website know that I am a passionate reader and unless I work, cook, clean the house, spend time with my kids or my husband – I read. Yes, I confess voluntarily that I have my nose stuck in the…
How to Account for Debt Factoring or Selling of Receivables
When I was auditing the financial statements of one of our clients, I spotted a few strange things: There was a huge balance of cash on client’s bank account at the year-end. And I mean HUGE. To illustrate: normally, the client had about CU…
How to Make Consolidated Statement of Cash Flows with Foreign Currencies
Did you know that many groups prepare their consolidated cash flow statement completely incorrectly? And, if you are well-experienced accountant, you can actually spot the faulty numbers instantly when you look to the statement of cash flows. Sadly, this wrong method is often taught in…
How to Make Hedging Documentation
If your company enters into some derivatives or other contracts to protect against any (potentially adverse) changes in cash flows or fair values, then it’s probably beneficial to apply hedge accounting. I wrote a few articles about hedge accounting, therefore if you need to refresh…
Troubles with IFRS 16 Leases
The new lease standard IFRS 16 can initially cause some troubles to the affected companies, because it introduces huge changes in the lessee’s accounting for leases. It was issued in January 2016 and we have to apply it for the periods starting 1 January 2019…
What Is a Financial Instrument?
A few weeks ago, we published the article about How to Implement IFRS 9 to assist you with the adoption of the major forthcoming IFRS update. Many accountants and CFOs are worried about IFRS 9, there are numerous discussions going on about it, but not…
