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Wiley IFRS 2016. Interpretation and Application of International Financial Reporting Standards. Wiley Regulatory Reporting

  • ID: 3329254
  • Book
  • Region: Global
  • 1008 Pages
  • John Wiley and Sons Ltd
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Your Indispensable Guide to IFRS Compliance

International Financial Reporting Standards (IFRS) are now in use in over 120 jurisdictions worldwide, including the European Union and most countries in Asia, the Middle East and South America. In the United States companies have been permitted to use them by the Securities and Exchange Commission since 2007.

With further refinements to IFRS by the International Accounting Standards Board (IASB) resulting in changes on a yearly basis, and given the now virtually unstoppable momentum worldwide to adopt (or, in some cases, adapt) IFRS, mastery of this knowledge is a necessity for all preparers of financial statements.

Wiley IFRS 2016 provides a complete and up–to–date explanation of all IFRS requirements, coupled with examples of how to apply the rules in complex, real–world situations. It can be used to train accounting staff, and to serve as a reference guide during the implementation of IFRS and preparation of IFRS–based financial statements. Wiley IFRS 2016 is equally valuable for preparers, auditors, and users of financial reports.

Key concepts are illustrated throughout, using worked examples and selections from actual published financial statements and integrated discussions of major ongoing IASB projects that may have significant impact on readers′ responsibilities over the coming year.

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About the Authors vii

1 Introduction to International Financial Reporting Standards 1

2 Conceptual Framework 27

3 Presentation of Financial Statements 41

4 Statement of Financial Position 61

5 Statements of Profit or Loss and Other Comprehensive Income, and Changes in Equity 77

6 Statement of Cash Flows 97

7 Accounting Policies, Changes in Accounting Estimates, and Errors 115

8 Inventories 135

9 Property, Plant and Equipment 153

10 Borrowing Costs 187

11 Intangible Assets 195

12 Investment Property 223

13 Impairment of Assets and Non–Current Assets Held for Sale 237

14 Consolidations, Joint Arrangements, Associates and Separate Financial Statements 261

15 Business Combinations 313

16 Shareholders Equity 369

17 Share–Based Payment 391

18 Current Liabilities, Provisions, Contingencies and Events After the Reporting Period 421

19 Employee Benefits 453

20 Revenue Recognition, Including Construction Contracts 477

21 Government Grants 511

22 Leases 523

23 Foreign Currency 577

24 Financial Instruments 607

25 Fair Value 735

26 Income Taxes 765

27 Earnings Per Share 801

28 Operating Segments 819

29 Related–Party Disclosures 839

30 Accounting and Reporting by Retirement Benefit Plans 853

31 Agriculture 861

32 Extractive Industries 875

33 Accounting for Insurance Contracts 885

34 Interim Financial Reporting 895

35 Hyperinflation 917

36 First–Time Adoption of International Financial Reporting Standards 927

Index 959

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