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Wiley Interpretation and Application of IFRS Standards

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Wiley Interpretation and Application of IFRS Standards

PKF International Ltd

ISBN: 978-1-119-57730-0 April 2019 996 Pages

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Description

The 2019 reference for the interpretation and application of the latest international standards

Wiley IFRS® Standards 2019 is a revised and comprehensive resource that includes the information needed to interpret and apply the most recent International Financial Reporting Standards (IFRS®) as outlined by the International Accounting Standards Board (IASB).

This accessible resource contains a wide range of practical examples as well as invaluable guidance on the expanding framework for unified financial reporting. The authors provide IFRIC interpretations and directions designed to ensure a clear understanding of the most recent standards.

The IFRS® standards are ever evolving, therefore it is essential that professionals and students have the information needed to apply the standards correctly in real-world cases. Wiley IFRS® Standards 2019 offers a complete, up-to-date reference that aids in the application of the latest international standards in a manner that is transparent, accountable and efficient. This edition includes IFRS 9 Financial Instruments; IFRS 15 Revenue from Contracts with Customers; IFRS 16 Leases and amendments issued and effective for annual periods beginning on or after 01 January 2018 and 01 January 2019 as issued by the IASB by 30 June 2018. This edition also includes some introductory guidance for IFRS 17 Insurance Contracts and incorporates the revised Conceptual Framework for Financial Reporting 2018.

This important guide is written by the people passionate about IFRS® at PKF International. PKF International consists of over 400 offices, operating in 150 countries across five regions. PKF International specialises in providing high quality audit, accounting, tax, and business advisory solutions to international and domestic organisations around the globe.

PKF International is a global family of legally independent firms bound together by a shared commitment to quality, integrity and the creation of clarity in a complex regulatory environment.

PKF International is a member of the Forum of Firms – an organisation dedicated to consistent and high-quality standards of financial reporting and auditing practices worldwide. www.pkf.com.

PKF International Limited administers a family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms. All rights reserved.

About the Authors vii

1 Introduction to International Financial Reporting Standards 1

2 Conceptual Framework 27

3 Presentation of Financial Statements 57

4 Statement of Financial Position 77

5 Statements of Profit or Loss and Other Comprehensive Income, and Changes in Equity 93

6 Statement of Cash Flows 113

7 Accounting Policies, Changes in Accounting Estimates, and Errors 131

8 Inventories 151

9 Property, Plant and Equipment 169

10 Borrowing Costs 197

11 Intangible Assets 205

12 Investment Property 233

13 Impairment of Assets and Non-Current Assets Held for Sale 247

14 Consolidations, Joint Arrangements, Associates and Separate Financial Statements 269

15 Business Combinations 319

16 Shareholders’ Equity 371

17 Share-Based Payment 393

18 Current Liabilities, Provisions, Contingencies and Events After the Reporting Period 425

19 Employee Benefits 457

20 Revenue from Contracts with Customers 481

21 Government Grants 521

22 Leases 535

23 Foreign Currency 565

24 Financial Instruments 597

25 Fair Value 721

26 Income Taxes 749

27 Earnings Per Share 785

28 Operating Segments 803

29 Related Party Disclosures 821

30 Accounting and Reporting by Retirement Benefit Plans 835

31 Agriculture 843

32 Extractive Industries 859

33 Accounting for Insurance Contracts 867

34 Interim Financial Reporting 887

35 Hyperinflation 907

36 First-Time Adoption of International Financial Reporting Standards 917

Index 949