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Wiley 2019 interpretation and application of IFRS standards
Wiley interpretation and application of IFRS standards 2019
2019 interpretation and application of IFRS standards
Interpretation and application of IFRS standards
The 2019 reference for the interpretation and application of the latest international standards Wiley IFRS Standards 2019 is a revised and comprehensive resource that includes the information needed to interpret and apply the most recent International Financial Reporting Standards (IFRS) as outlined by the International Accounting Standards Board (IASB). This accessible resource contains a wide range of practical examples as well as invaluable guidance on the expanding framework for unified financial reporting. The authors provide IFRIC interpretations and directions designed to ensure a clear understanding of the most recent standards. The IFRS standards are ever evolving, therefore it is essential that professionals and students have the information needed to apply the standards correctly in real-world cases. Wiley IFRS Standards 2019 offers a complete, up-to-date reference that aids in the application of the latest international standards in a manner that is transparent, accountable and efficient. This edition includes IFRS 9 Financial Instruments; IFRS 15 Revenue from Contracts with Customers; IFRS 16 Leases and amendments issued and effective for annual periods beginning on or after 01 January 2018 and 01 January 2019 as issued by the IASB by 30 June 2018. This edition also includes some introductory guidance for IFRS 17 Insurance Contracts and incorporates the revised Conceptual Framework for Financial Reporting 2018. This important guide is written by the people passionate about IFRS at PKF International. PKF International consists of over 400 offices, operating in 150 countries across five regions. PKF International specialises in providing high quality audit, accounting, tax, and business advisory solutions to international and domestic organisations around the globe. PKF International is a global family of legally independent firms bound together by a shared commitment to quality, integrity and the creation of clarity in a complex regulatory environment. PKF International is a member of the Forum of Firms - an organisation dedicated to consistent and high-quality standards of financial reporting and auditing practices worldwide. www.pkf.com. PKF International Limited administers a family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms. All rights reserved.
Intro; Wiley Interpretation and Application of IFRS Standards 2019; CONTENTS; ABOUT THE AUTHORS; 1 INTRODUCTION TO INTERNATIONAL FINANCIAL REPORTING STANDARDS; Introduction; Origins and Early History of the IASB; The Current Structure; Process of IFRS Standard Setting; Convergence: The IASB and Financial Reporting in the US; The IASB and Europe; Appendix A: Current International Financial Reporting Standards (IAS/IFRS) and Interpretations (SIC/IFRIC); Appendix B: Projects Completed Since Previous Issue (July 2017 to June 2018); Appendix C: IFRS for SMEs; Definition of SMEs
IFRS for SMEs is a Complete, Self-Contained Set of RequirementsModifications of Full IFRS made in IFRS for SMEs; Disclosure Requirements under IFRS for SMEs; Maintenance of the IFRS for SMEs; SME Implementation Group; Implications of the IFRS for SMEs; Application of the IFRS for SMEs; 2 CONCEPTUAL FRAMEWORK; Introduction; Conceptual Framework for Financial Reporting 2018; Structure; Status and Purpose; 1. The Objective of General Purpose Financial Reporting; 2. Qualitative Characteristics of Useful Financial Information; 3. Financial Statements and the Reporting Entity
4. The Elements of Financial Statements5. Recognition and Derecognition; 6. Measurement; 7. Presentation and Disclosure; 8. Concepts of Capital and Capital Maintenance; Conceptual Framework for Financial Reporting 2010; Purpose and Status; The Accounting Model; The Objective of General-Purpose Financial Statements; Qualitative Characteristics of Useful Financial Information; The 1989 Framework: The Remaining Text; Hierarchy of Standards; IFRS Practice Statement 1 -- Management Commentary; Nature and Scope; Principles; Qualitative Characteristics; Presentation; Elements; Future Developments
IFRS Practice Statement 1 -- Management CommentaryUS GAAP Comparison; 3 PRESENTATION OF FINANCIAL STATEMENTS; Introduction; Scope; Definitions of Terms; Financial Statements; Objective; Purpose of Financial Statements; General Features; Fair Presentation and Compliance with IFRSs; Going concern; Accrual basis of accounting; Materiality and aggregation; Offsetting; Frequency of reporting; Comparative information; Consistency of presentation; Structure and Content; Complete Set of Financial Statements; Notes; Statement of compliance with IFRS; Accounting policies; Fairness exception under IAS 1
Other disclosures required by IAS 1Future Developments; Illustrative Financial Statements; US GAAP Comparison; 4 STATEMENT OF FINANCIAL POSITION; Introduction; Scope; Definitions of Terms; General Concepts, Structure and Content; General Concepts; Structure and Content; Classification of Assets; Current Assets; Non-Current Assets; Other Assets; Classification of Liabilities; Current Liabilities; Non-Current Liabilities; Offsetting Assets and Liabilities; Classification of Shareholders' Equity; Share Capital; Retained Earnings; Disclosure of Share Capital; Future Developments
International financial reporting standards
Somerset, NJ : John Wiley and Sons, Inc. : Wiley, 2019