Book description
The 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.
