IFRS For Dummies

ISBN-13: 9781119963080 / Angielski / Miękka / 2012 / 408 str.

UK) Collings Bolton Steven (Leavitt Walmsley Associates

Opis

The easy way to get a grip on International Reporting Standards IFRS For Dummies is your complete introduction to IFRS and international accounting and balancing standards. Combining all the facts needed to understand this complex subject with useful examples, this easy-to-read guide will have you on top of IFRS in no time. In plain English, it helps you make sense of IFRS and your understanding of: what they are and where they apply; how to adopt IFRS for the first time; how IFRS affects the key components of your financial statements; how to disclose information in financial statements; and much more.

• Covers what to do if you're applying IFRS for the first time
• Explains complicated material in plain English
• Helps you make sense of this principles-based set of standards that establish broad rules for financial reporting

If you're an accountant, student, or trainee in need of accessible information on IFRS, this hands-on, friendly guide has you covered.

Recenzje

‘The book is the latest addition to the publisher’s For Dummies series, which aims to simplify complicated topics for readers.’  (Manchester Evening News, 10th May 2012)

Spis treści

Introduction 1

Part I: Concepts and Basic Standards 7

Chapter 1: Introducing IFRS 9

Chapter 2: Getting to Grips with Some Basic IFRS 27

Chapter 3: Taking the Plunge: Adopting IFRS for the First Time 51

Part II: Looking at the Key Components of Financial Statements 69

Chapter 4: Accounting for Assets 71

Chapter 5: Looking at Assets You Don’t See Every Day 95

Chapter 6: Accounting for Liabilities 117

Chapter 7: Examining Liabilities You Don′t See Every Day 141

Chapter 8: Accounting for Revenue 161

Chapter 9: Accounting for Equity 179

Part III: Consolidating and Investing 201

Chapter 10: Getting Your Head Around the Basics of Consolidation 203

Chapter 11: Getting to Grips with More Complex Consolidation Issues 217

Chapter 12: Tackling Associates 239

Chapter 13: Juggling Joint Ventures 257

Part IV: Disclosing Information in the Financial Statements 269

Chapter 14: Reporting Related Parties 271

Chapter 15: Skilfully Segmenting Information 289

Chapter 16: Easing into Earnings per Share 303

Part V: The Part of Tens 321

Chapter 17: Ten Pitfalls to Avoid 323

Chapter 18: Ten Disclosure Requirements Under IFRS 333

Chapter 19: Ten Future Developments in IFRS 343

Part VI: Appendixes 349

Appendix A: Sources of Guidance 351

Appendix B: IFRS for SMEs 357

Appendix C: Glossary 361

Index 365

O autorze

Steve Collings is Audit and Technical Director for Leavitt Walmsley Associates Ltd. Steve has written extensively for AccountingWEB.co.uk and is the author of Interpretation and Application of International Standards on Auditing, also published by Wiley. In 2011, Steve was named Accounting Technician of the Year at the British Accountancy Awards.

Blurb

The quickest, easiest way to get to grips with International Financial Reporting Standards

If you′re an accountant, student, or trainee looking for a quick fix on IFRS, this plain–English guide has you covered. IFRS For Dummies provides all the facts you need to understand the complex world of international financial reporting, along with plenty of practical, real–world examples.

• Learn the who, what and why – get the lowdown on why the standards were created and which countries use them, as well as the advantages of IFRS

• Master IFRS financial statements – get up and running with the basics of how to prepare financial statements under IFRS, and how some of the key standards work

• Prepare statements with confidence – get to grips with some of the more complicated aspects of financial reporting, including how to prepare consolidated statements for subsidiaries and joint ventures

• Know what to disclose – find out what you should disclose in addition to the usual primary financial statements, and understand the importance of disclosure notes

• Avoid reporting mistakes – be aware of common pitfalls when preparing financial statements under IFRS and IAS and know how to avoid them

• Fix reporting problems – take in expert advice and guidance on how to resolve an array of complex financial reporting problems

Open the book and find:

• A breakdown of IFRS and where they apply

• The key standards – in a nutshell

• Advice on adopting IFRS for the first time

• How IFRS affects the key components of your financial statements

• The lowdown on disclosing information in financial statements

• Ways of preparing financial statements under IFRS

• Tips for avoiding common pitfalls

• Methods for resolving difficult reporting problems

Learn to:

• Find your way around the key standards

• Understand where IFRS apply

• Prepare for adopting IFRS for the first time

• Produce IFRS–friendly financial statements