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Wiley IFRS 2017: Interpretation and Application of IFRS Standards

Wiley IFRS 2017: Interpretation and Application of IFRS Standards

PKF International Ltd

ISBN: 978-1-119-34024-9

Feb 2017

1024 pages



The one-stop resource for IFRS interpretation and application, updated for 2017

Wiley IFRS 2017 offers a complete resource for the interpretation and application of the latest International Financial Reporting Standards (IFRS) as outlined by the International Accounting Standards Board (IASB). With up-to-date coverage and a host of practical tools, this book provides invaluable guidance on the expanding framework for unified financial reporting. Organised for easy navigation, each chapter includes general statement information followed by topic-specific discussion to facilitate both quick-reference and in-depth study. The expert team at PKF International provides authoritative insight from a practitioner's perspective: IFRIC interpretations and practical real-world guidance ensure full understanding of the newest standards, and the Disclosure Checklist helps verify compliance.

The IASB's efforts are paying off as more and more countries around the globe either adopt IFRS as their national standards, or adjust local standards in alignment. A working understanding of IFRS application is becoming essential, even as the rules continue to evolve. This book provides full coverage of the latest standards and thorough guidance for implementation.

  • Review the latest IFRS rules and standards
  • Apply guidelines and best practices appropriately
  • Gain expert insight on IFRS interpretation and implementation
  • Ensure compliance and verify completeness

Uniform financial reporting reduces the costs of financial statement preparation for multinational companies, and streamlines the assessment of business results. As the standards themselves evolve, so must practitioners' understanding of how to apply them correctly in real-world cases. Wiley IFRS 2017 offers a complete, up-to-date reference to help you apply and comply with the latest international standards.

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About the Authors vii

1 Introduction to International Financial Reporting Standards 1

2 Conceptual Framework 27

3 Presentation of Financial Statements 43

4 Statement of Financial Position 63

5 Statements of Profit or Loss and Other Comprehensive Income, and Changes in Equity 79

6 Statement of Cash Flows 99

7 Accounting Policies, Changes in Accounting Estimates, and Errors 117

8 Inventories 137

9 Property, Plant and Equipment 155

10 Borrowing Costs 189

11 Intangible Assets 197

12 Investment Property 227

13 Impairment of Assets and Non-Current Assets Held for Sale 241

14 Consolidations, Joint Arrangements, Associates and Separate Financial Statements 265

15 Business Combinations 317

16 Shareholders’ Equity 373

17 Share-Based Payment 395

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

19 Employee Benefits 459

20 Revenue Recognition, Including Construction Contracts 485

21 Government Grants 519

22 Leases 533

23 Foreign Currency 589

24 Financial Instruments 619

25 Fair Value 747

26 Income Taxes 777

27 Earnings per Share 813

28 Operating Segments 833

29 Related-Party Disclosures 851

30 Accounting and Reporting by Retirement Benefit Plans 865

31 Agriculture 873

32 Extractive Industries 889

33 Accounting for Insurance Contracts 899

34 Interim Financial Reporting 911

35 Hyperinflation 933

36 First-Time Adoption of International Financial Reporting Standards 943

Index 975