When you purchase a commodity with future delivery for fixed price, should you account for it as for derivative under IFRS 9? Or as a purchase of inventories ("own-use" contract)? Find out here with example included.

How to account for contracts to buy commodities with future delivery (own use)?

How to allocate fixed overheads to the cost of inventories? What if your production is abnormally high or abnormally low? Find out here with examples included!

How to allocate cost of conversion to inventories at abnormal levels of production?

How to deal with anticipated major repairs, maintenance, overhauling, regular replacement of small parts and similar items under IFRS? Find out here!

Should we create a provision for major overhauling?

How to determine whether the performance obligations in the contract are distinct or not distinct under IFRS 15? Find out here, with example included!

Distinct or not distinct under IFRS 15?

How to apply 5-step model of IFRS 15 to the licenses of intellectual property? Are there any special considerations? Learn here!

Accounting for the sales of software licenses with subsequent updates

How to account for exchanges of inventories or long-term assets under IFRS? Or other barter transactions? Learn here!

How to account for contracts to buy commodities with future delivery (own use)?

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