Understanding IFRS Fundamentals
International Financial Reporting Standards
Published on 6. May 2010
416 pages
978-0-470-52498-5 (ISBN)
Description
A one-stop resource for understanding and applying currentInternational Financial Reporting Standards
The move to International Financial Reporting Standards (IFRS)is the single most important initiative in the financial reportingworld, with more than 100 countries requiring or allowing the useof IFRS for the preparation of financial statements by publiclyheld companies. It is expected that by 2011, more than 150countries will be converting to it.
It's clear that IFRS is here to stay--get the expert adviceyou need to properly implement IFRS with Understanding IFRSFundamentals: International Financial Reporting Standards.
Filled with easy-to-follow examples and case studies,Understanding IFRS Fundamentals: International FinancialReporting Standards is your handy resource to all things IFRS,presenting:
* Authoritative advice and simple explanations of IFRSstandards
* Topical arrangement of issues of common interest to financialstatement preparers and users
* Extracts from published financial statements illustratingpractical implications for applying IFRS
* Guidance for finance professionals in more than 100 countriesthat have either adopted or adapted to IFRS
* Simple explanations of complex standards
A practical reference with the answers to your issues ofinterest, Understanding IFRS Fundamentals: InternationalFinancial Reporting Standards serves as an essential resourcefor when you need information in a hurry.
Stay on track and focused with the straightforward guidance inUnderstanding IFRS Fundamentals: International FinancialReporting Standards.
More details
Other editions
Additional editions
Book
06/2010
Wiley
€63.90
Shipment within 10-20 days
Persons
Nandakumar Ankarath is a Fellow Member of The Institute ofChartered Accountants of India and a Senior Partner with MooreStephens, Chartered Accountants, United Arab Emirates. Nandakumarhas over 25 years of postqualification experience in auditing,accounting, financial and management consultancy in variousbusiness environments in India, Bahrain, and the United ArabEmirates. He has also served as a member of the Committee onAccounting Standards for Local Bodies formed by the governing bodyof the Institute of Chartered Accountants of India to formulateaccounting standards for local bodies, autonomous bodies, andnonprofit organizations in India.
Dr. T.P. Ghosh is a professor of accounting and financeat Management Development Institute, India, and a visitingprofessor of Wollongong University in Dubai, United Arab Emirates.Dr. Ghosh, who has served as the Director of Studies of theInstitute of Chartered Accountants of India, New Delhi, hasauthored two important reference books for accounting professionalsthat include Accounting Standards & Corporate AccountingPractices, 8th edition, 2008.
Dr. Yass A. Alkafaji is an Associate Professor ofAccounting at the American University of Sharjah, United ArabEmirates. Dr. Alkafaji, who was the founder of Alkafaji &Associates, Ltd., a Chicago-based public accounting firm, has beena faculty member at Mississippi State University, Bowling GreenState University, and Northeastern Illinois University in theUnited States. He has also been published in various journalsincluding the International Journal of Accounting,Accounting Research Journal, International Journal ofManagement, and Managerial Auditing Journal.
Kalpesh J. Mehta is a Fellow Member of the Institute ofChartered Accountants of India and is a founding member of the CASection at M.T. EDUCARE (P) LTD., a premier institution forimparting quality education in India. He is also a faculty memberat the Institute of Chartered Accountants of India.
Content
Preface vii
About the Authors ix
Introduction xi
1 Introduction to International Financial Reporting Standards 1
2 IASB Framework 11
3 Presentation of Financial Statements (IAS 1) 17
4 Inventories (IAS 2) 27
5 Statement of Cash Flows (IAS 7) 35
6 Accounting Policies, Changes in Accounting Estimates, and Errors (IAS 8) 41
7 Events After the Reporting Period (IAS 10) 49
8 Construction Contracts (IAS 11) 53
9 Income Taxes (IAS 12) 59
10 Property, Plant, and Equipment (IAS 16) 69
11 Leases (IAS 17) 77
12 Revenue (IAS 18) 87
13 Employee Benefits (IAS 19) 95
14 Accounting for Government Grants and Disclosure of Government Assistance (IAS 20) 107
15 The Effects of Changes in Foreign Exchange Rates (IAS 21) 111
16 Borrowing Costs (IAS 23) 119
17 Related-Party Disclosures (IAS 24) 123
18 Accounting and Reporting by Retirement Benefit Plans (IAS 26) 131
19 Consolidated and Separate Financial Statements (IAS 27) 143
20 Investments in Associates (IAS 28) 155
21 Financial Reporting in Hyperinflationary Economies (IAS 29) 163
22 Interests in Joint Ventures (IAS 31) 171
23 Financial Instruments: Presentation (IAS 32) 177
24 Earnings Per Share (IAS 33) 187
25 Interim Financial Reporting (IAS 34) 195
26 Impairment of Assets (IAS 36) 207
27 Provisions, Contingent Liabilities, and Contingent Assets (IAS 37) 215
28 Intangible Assets (IAS 38) 223
29 Financial Instruments: Recognition and Measurement (IAS 39) 231
30 Investment Property (IAS 40) 261
31 Agriculture (IAS 41) 267
32 First-Time Adoption of International Financial Reporting Standards (IFRS 1) 277
33 Share-Based Payment (IFRS 2) 295
34 Business Combinations (IFRS 3) 305
35 Insurance Contracts (IFRS 4) 321
36 Noncurrent Assets Held for Sale and Discontinued Operations (IFRS 5) 331
37 Exploration for and Evaluation of Mineral Resources (IFRS 6) 339
38 Financial Instruments: Disclosures (IFRS 7) 345
39 Operating Segments (IFRS 8) 363
40 Financial Instruments (IFRS 9) 369
41 International Financial Reporting Standards (IFRS) for Small and Medium Enterprises (SMEs) 383
Index 395
