DescriptionThe International Financial Reporting Standards are quite different from other sets of accounting standards, and are fundamentally different from US-GAAP, in that they are based on principles, and not on detailed rules. Financial Reporting under IFRS:A topic-based approach offers a global perspective on IFRS by presenting the prescribed rationale and principles and illustrating them through numerous examples from large international companies. It aims to develop the fundamental skills necessary to read and use the information contained in all types of financial statements, through examples, activities, questions and answers.
The book is broadly divided into three sections. Section one examines the structure of the Balance Sheet and the Income Statement, their links and the accounting mechanisms used to prepare them. Section two deals with the identification, evaluation and reporting of Balance Sheet items. Section three covers the use of financial statements to analyze a firm’s performance and its risks. Throughout the book special topics are covered, including Derivatives and Hedge accounting (IAS 39), Business Combination (IFRS 3) and Operating Segments (IFRS 8).
Financial Reporting under IFRS is ideally suited to the needs of students of accounting and financial reporting, but all users of financial statements, from creditors and investors to suppliers, customers, employees and governments will benefit from its concise, topic-based approach.
1 Financial Statements and Accounting Mechanisms.
2 Income from Ordinary Activities.
3 Current Assets.
4 Non-financial Liabilities.
5 Non-current Assets.
8 Group Accounts.
9 Financial Analysis and Communication.
10 The IASB and Development of the IFRS.
- UNIQUE APPROACH: takes a concise topic-based approach, giving precise and clear explanation of the principles of IFRS presented in as many different circumstances as possible
- INTERNATIONAL EXAMPLES: richly illustrated by cases and examples of reporting using IFRS from major global company accounts including AstraZeneca, BP, British Airways, Renault, Unilever and Vodafone