International Financial Reporting Standards: A Practical Guide

by Hennie van Greuning

Overview

Applying International Financial Reporting Standards (IFRS) in a business situation can have a signficant effect on the financial results and position of a division or an entire business enterprise. 'International Financial Reporting Standards: A Practical Guide' gives private or public sector executives, managers, and financial analysts without a strong background in accounting the tools they need to participate in discussions and decisions on the appropriateness or application of IFRS. Each chapter summarizes an International Financial Reporting Standard, following a consistent structure: • Objective of the Standard • Scope of the Standard • Key concepts • Accounting treatment • Presentation and disclosure • Financial analysis and interpretation Many chapters of the book also contain examples that illustrate the practical application of key concepts in a particular standard. The publication includes all of the standards issued by the International Accounting Standards Board (IASB) through December 2008.

Product Details

ISBN-13:	9780821378991
Publisher:	World Bank Publications
Publication date:	04/03/2009
Series:	World Bank Training Series
Sold by:	INDEPENDENT PUB GROUP - EPUB - EBKS
Format:	eBook
Pages:	344
File size:	731 KB

Table of Contents

	Foreword	vii
	Acknowledgments	viii
	Introduction	ix
Part I	Presentation	1
Chapter 1	Framework Framework for the Preparation and Presentation of Financial Statements	3
Chapter 2	IFRS 1 First-Time Adoption of IFRS	11
Chapter 3	IAS 1 Presentation of Financial Statements	15
Chapter 4	IAS 7 Cash Flow Statements	31
Chapter 5	IAS 8 Accounting Policies, Changes in Accounting Estimates, and Errors	41
Part II	Group Statements	47
Chapter 6	IFRS 3 Business Combinations	49
Chapter 7	IAS 27 Consolidated and Separate Financial Statements	60
Chapter 8	IAS 28 Investments in Associates	68
Chapter 9	IAS 31 Interests in Joint Ventures	74
Part III	Balance Sheet and Income Statement	81
Chapter 10	IFRS 2 Share-Based Payment	83
Chapter 11	IFRS 4 Insurance Contracts	91
Chapter 12	IAS 2 Inventories	96
Chapter 13	IAS 11 Construction Contracts	104
Chapter 14	IAS 12 Income Taxes	112
Chapter 15	IAS 16 Property, Plant, and Equipment	122
Chapter 16	IAS 17 Leases	134
Chapter 17	IAS 18 Revenue	147
Chapter 18	IAS 19 Employee Benefits	155
Chapter 19	IAS 20 Accounting for Government Grants and Disclosure of Government Assistance	164
Chapter 20	IAS 21 The Effects of Changes in Foreign Exchange Rates	169
Chapter 21	IAS 23 Borrowing Costs	176
Chapter 22	IAS 36 Impairment of Assets	183
Chapter 23	IAS 37 Provisions, Contingent Liabilities, and Contingent Assets	190
Chapter 24	IAS 38 Intangible Assets	195
Chapter 25	IAS 39 Financial Instruments: Recognition and Measurement	200
Chapter 26	IAS 40 Investment Property	214
Chapter 27	IAS 41 Agriculture	220
Part IV	Disclosure	229
Chapter 28	IFRS 5 Noncurrent Assets Held for Sale and Discontinued Operations	231
Chapter 29	IAS 10 Events After the Balance Sheet Date	236
Chapter 30	IAS 14 Segment Reporting	239
Chapter 31	IAS 24 Related-Party Disclosures	244
Chapter 32	IAS 26 Accounting and Reporting by Retirement Benefit Plans	248
Chapter 33	IAS 29 Financial Reporting in Hyperinflationary Economies	252
Chapter 34	IAS 30 Disclosures in the Financial Statement of Banks and Similar Financial Institutions	257
Chapter 35	IAS 32 Financial Instruments: Disclosure and Presentation	268
Chapter 36	IAS 33 Earnings per Share	277
Chapter 37	IAS 34 Interim Financial Reporting	286
Chapter 38	ED 6 Exploration for and Evaluation of Mineral Resources	291
	About the Author	297