Wiley Interpretation and Application of International Financial Reporting Standards 2011
As the International Accounting Standards Board (IASB) makes significant strides in achieving global convergence of accounting standards worldwide, the International Financial Reporting Standards (IFRS) become extremely important to the accounting world. Wiley IFRS 2011 provides the necessary tools for understanding the IASB standards and offers practical guidance and expertise on how to use and implement them.
- Covers the most recent International Financial Reporting Standards (IFRS) and IFRIC interpretations
- An indispensable guide to IFRS compliance
- Provides a complete explanation of all IFRS requirements, coupled with copious illustrations of how to apply the rules in complex, real-world situations
Written by two well-known international experts on the subject with hands-on experience in applying these standards, this book is an indispensable guide to IFRS compliance.
About the Authors.
1 Introduction to International Financial Reporting Standards.
Appendix A: Current International Financial Reporting Standards (IAS/IFRS®) and Interpretations (SIC/IFRIC).
Appendix B: IFRS for SMEs.
Appendix C: Case Study Transitioning from US GAAP to IFRS.
2 Presentation of Financial Statements.
3 Statement of Financial Position.
4 Statements of Income, Comprehensive Income, and Changes in Equity.
5 Statement of Cash Flows.
6 Fair Value.
7 Financial Instruments.
Appendix: Net Realizable Value under US GAAP.
9 Revenue Recognition, Including Construction Contracts.
Appendix: Accounting under Special Situations—Guidance from US GAAP.
10 Property, Plant, and Equipment.
11 Intangible Assets.
12 Interests in Associates, Joint Ventures, and Investment Property.
13 Business Combinations and Consolidated Financial Statements.
14 Current Liabilities, Provisions, Contingencies, and Events After the Reporting Period.
15 Financial Instruments—Noncurrent Liabilities.
Appendix A: Special Situations Not Addressed by IAS 17.
Appendix B: Leveraged Leases under US GAAP.
17 Income Taxes.
18 Employee Benefits.
19 Shareholders' Equity.
20 Earnings Per Share.
21 Interim Financial Reporting.
22 Operating Segments.
23 Accounting Policies, Changes in Accounting Estimates, and Errors.
24 Foreign Currency.
25 Related-Party Disclosures.
26 Specialized Industry Accounting.
27 Inflation and Hyperinflation.
Appendix: Monetary vs. Nonmonetary Items.
28 Government Grants.
29 First-Time Adoption of International Financial Reporting Standards.
Appendix A: Disclosure Checklist.
Appendix B: Comparison of IFRS and US GAAP.
BRUCE MACKENZIE, CA (SA) FCCA, RA, JSE Registered IFRS® Advisor, is a member of the IASB SME Implementation Group (SMEIG) and a director of W.consulting (www.wconsulting.co.za), a global IFRS® consulting and training company. He has held positions at Deloitte both in South Africa and the United Kingdom in the IFRS® Centers of Excellence.
DANIE COETSEE, CA (SA), is Professor of Accounting at the University of Johannesburg, specializing in financial accounting.
TAPIWA NJIKIZANA, CA (SA), RA, JSE Registered IFRS® Advisor, is a technical director at W.consulting. After qualifying with Coopers & Lybrand, he spent time internationally with Ernst & Young and Andersen.
RAYMOND CHAMBOKO, CA (SA), JSE Registered IFRS® Advisor, is a technical director at W.consulting. He was previously with Ernst & Young and SizweNtsalubaVSP, where he handled accounting technical issues.
BLAISE COLYVAS, CA(SA), RA, is a technical director at W.consulting. He was previously the head of technical accounting at Protect-a-Partner, and an audit manager with Grant Thornton.