The globally-sourced guide to the latest IFRS, with practical application advice Wiley IFRS 2015 is a complete guide to the latest International Financial Reporting Standards set forth by the International Accounting Standards Board. Written by an international team of experts in global accounting standards, this guide provides detailed information on the latest changes to the IFRS, with comprehensive coverage of IFRIC interpretations and the tools needed to maintain IFRS-compliance. Readers will find clear, concise explanations delineated by topic for easy navigation, designed for both quick reference in-depth study, with practical advice for implementing IFRS in real-life scenarios.
The goal of the IASB is to achieve global convergence of accounting standards, reducing preparation costs and facilitating the assessment of business outcomes. The IFRS are a key part of the strategy, simplifying reporting for multinational corporations and the analysts and investors tasked with evaluating results. Wiley IFRS 2015 details the most recent changes to the standards, with expert guidance toward implementation. Readers will:
- Grasp the underlying framework of the International Financial Reporting Standards
- Understand how to interpret the standards and apply them in the real world
- Follow the Disclosure Checklist to verify completeness and IFRS compliance
- Learn from the experts when implementing IFRS for the first time
More and more countries are either adopting IFRS or adapting local standards to align with those set by the IASB. The standards change annually, and failure to stay up to date can affect business strategy and outcomes, especially when working internationally. Wiley IFRS 2015 provides the latest information and expert guidance, helping practitioners match IFRS to real-world practice.
Author(s): PKF International Ltd
Series: Wiley Regulatory Reporting
Edition: 12
Publisher: John Wiley & Sons
Year: 2014
Language: English
Pages: 1032
Tags: Финансово-экономические дисциплины;Бухгалтерский учет;Международные стандарты учета и финансовой отчетности;
Content: Half Title page
Title page
Copyright page
About the Authors
Chapter 1: Introduction to International Financial Reporting Standards
Introduction
Origins and Early History of the IASB
The Current Structure
Process of IFRS Standard Setting
Convergence: The IASB and Financial Reporting in the US
The IASB and Europe
IFRS for SMEs
Appendix A: Current International Financial Reporting Standards (IAS/IFRS) and Interpretations (SIC/IFRIC)
Appendix B: Projects Completed Since Previous Issue (October 2013 to September 2014)
Appendix C: IFRS for SMEs
Chapter 2: Conceptual Framework. IntroductionConceptual Framework for Financial Reporting 2010
Conceptual Framework Project
Hierarchy of Standards
IFRS Practice Statement Management Commentary
US GAAP Comparison
Chapter 3: Presentation of Financial Statements
Introduction
Scope
Definitions of Terms
Financial Statements
General Features
Structure and Content
Future Developments
Illustrative Financial Statements
US GAAP Comparison
Chapter 4: Statement of Financial Position
Introduction
Scope
Definitions of Terms
General Concepts, Structure and Content
Classification of Assets
Classification of Liabilities. Classification of Shareholders' EquityUS GAAP Comparison
Chapter 5: Statements of Profit or Loss and Other Comprehensive Income, and Changes in Equity
Introduction
Amendments Effective During 2011
Future Developments
Scope
Definitions of Terms
Concepts of Income
Recognition and Measurement
Statement of Profit or Loss and Other Comprehensive Income
Presentation in the Profit or Loss Section
Other Comprehensive Income
Statement of Changes in Equity
US GAAP Comparison
Chapter 6: Statement of Cash Flows
Introduction
Scope
Definitions of Terms
Background
Presentation. Other RequirementsDisclosure and Examples
Consolidated Statement of Cash Flows
US GAAP Comparison
Chapter 7: Accounting Policies, Changes in Accounting Estimates, and Errors
Introduction
Scope
Definitions of Terms
Importance of Comparability and Consistency in Financial Reporting
Accounting Policy
Selecting Accounting Policies
Changes in Accounting Policies
Changes in Accounting Estimates
Correction of Errors
US GAAP Comparison
Chapter 8: Inventories
Introduction
Definitions of Terms
Recognition and Measurement
Methods of Inventory Costing Under IAS 2
US GAAP Comparison. Chapter 9: Property, Plant, and EquipmentIntroduction
Definitions of Terms
Recognition and Measurement
Derecognition
Noncurrent Assets Held for Sale
Disclosures
Examples of Financial Statement Disclosures
Future Developments
US GAAP Comparison
Chapter 10: Borrowing Costs
Introduction
Definitions of Terms
Recognition and Measurement
US GAAP Comparison
Chapter 11: Intangible Assets
Introduction
Scope
Definitions of Terms
Recognition and Measurement
Disclosures
Examples of Financial Statement Disclosures
Future Developments
US GAAP Comparison.
