Insights into IFRS 2020/21

Applying IFRS Standards to real transactions and arrangements can be a significant challenge. Insights into IFRS is based on KPMG member firms’ experience of applying IFRS Standards around the world and explains our views on many interpretative issues. We’ve taken the questions that we’ve received and turned them into practical guidance to help you apply IFRS Standards to your situation. The publication is organised by topic and extensively cross-referenced to the standards that are in issue at 1 August 2019 and that apply to an annual period beginning on or after 1 January 2019. To help you plan ahead, we discuss standards that have been issued but are not yet effective and we highlight areas under discussion for potential change.

Key features
Practical guidance for preparing and interpreting financial statements. Clear and insightful analysis of technical accounting issues. Real-life examples illustrating practical application. The latest thinking on IFRS Standards, including forthcoming requirements and future developments. An appendix of currently effective and forthcoming requirements

New to this edition
Expanded guidance on the new leases, revenue and financial instruments standards. Latest amendments to the new insurance contracts standard. New guidance on the definition of a business. New chapter on investments in separate financial statements