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In this video, the tutorial explains how to account for convertible debt under IFRS, highlighting differences from U.S. GAAP. It emphasizes the necessity of separating the two components of convertible debt: the debt itself (e.g., a promise to pay $1,000 in five or ten years) and the conversion feature, which offers an option to convert the debt into common or preferred shares. Under IFRS, the debt is classified as a liability, while the conversion feature is recorded as equity. The process involves using the residual method, which requires determining the fair value of the convertible debt at the date of issuance to properly bifurcate these components.
