International Accouting Standards Explained is an introduction to IASC and to the requirements of the IAS. It outlines how the standards are used on a daily basis by companies in preparation of their financial statements.

It offers a detailed description of the International Accounting Standards Committee and how it is structured. It examines the use of IAS from a practice orientation and looks at the main components of the financial statements, including questions of recognition and measurement of key financial statement items.

There is also a discussion of the IASC...