In October 2022 the IFRS Interpretations Committee (“IFRIC’) published an agenda decision on accounting for rent...
Rent forgiveness: Impairment, derecognition or modification?
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Assets
Accounting for power purchase agreements in terms of IFRS
There is a global drive towards renewable energy. In this context, entities have increasingly entered into renewable power...
Accounting for VAT on leases
The accounting treatment of VAT was considered by the IFRS Interpretations Committee (the IFRIC) during some of its meetings in...
Inventory write-downs: Estimated costs to sell
IAS 2 Inventories (‘IAS 2’) requires that items of inventory must be measured at the lower of cost or net realisable value...
Deferred tax assets for tax losses
Entities may find themselves in a position where they had tax losses due to the weak economic conditions, even before the...
Accounting for cryptocurrencies
Over the past year or so, the IFRS Interpretations Committee (IFRIC) have discussed how cryptocurrencies should be accounted...