Hello, welcome to IFRS IS EASY ! Unpopular opinion: There is often trouble with appropriately identifying whether a contract is truly a lease contract You may be wondering why the above is difficult. Shouldn't a lease contract be easy to identify,…
Hello, welcome to IFRS IS EASY ! Why Contract Assets are not Financial Assets In a previous post, I explained the difference between Trade receivables and Contract assets . Essentially, you will notice that both Trade receivables and Contract assets …
Hello, welcome to IFRS IS EASY! Accounting mismatch and own credit risk In accounting, we are always conscious of what goes into the profit or loss section of our financial statements. This is also crucial when we talk about the golden principle of de…
Hello, welcome to IFRS IS EASY! Understanding the difference between Staff loans and Staff advance Many companies use these two words interchangeably and they wonder why auditors keep asking them for details on what constitutes their staff loan or sta…
Hello, welcome to IFRS IS EASY! Understanding the difference between Joint operations and Joint ventures Have you ever heard a word in accounting before and you feel you know the literal meaning of it but deep down you wonder what the accounting impli…
Hello, welcome to IFRS IS EASY ! Understanding the difference between Contract Assets and Trade receivables Do you know that not all receivables from customers are recorded as trade receivables as a result of IFRS 15? On the statement of financia…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. IAS 33 Earnings Per Share is an accou…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. IFRS 1 First-time adoption of Internat…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. IFRS 3 Business combinations is an ac…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. IFRS 2 Share-based payment is an acco…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. IAS 32 Financial instruments: Presenta…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. IFRS 10 Consolidated financial stat…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. IFRS 11 Joint arrangements is one of…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. In less than two months after publish…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. It is no longer news that IFRS 18 is r…
Hello, welcome to IFRS IS EASY ! Note: All the materials in this blog post have been made available to the public for free download by the respective sources. They are compiled here for ease of access to you. If you are learning IFRS as a beginner,…
