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.
1 Financial Statements and Accounting Mechanisms 1
2 Income from Ordinary Activities 37
3 Current Assets 65
4 Non-financial Liabilities 97
5 Non-current Assets125
6 Financing 163
7 Taxation 189
8 Group Accounts 215
9 Financial Analysis and Communication 261
10 The IASB and Development of the IFRS 313