IFRS: A Quick Reference Guide
This book is all about how companies are applying the key principles in International Financial Reporting Standards (IFRS) and shows this by use of extensive examples of UK company accounts.
The book provides coverage of the key points of each standard and links that with actual practice. It is not a detailed guidance book as such, or a transistion book from UK standards to IFRS, but a quick reference for the busy accountant which shows how to apply the key points of each standard by reference to how other companies have done it.
Robert Kirk BSc (Econ) FCA CPA trained in Belfast with Price Waterhouse & Co., and subsequently spent two years in industry in a subsidiary of Shell (UK) and four further years in practice. He is currently Professor of Financial Reporting in the School of Accounting at the University of Ulster and has been lecturing on the CIMA Mastercourses Accounting Standards and Accounting Standards in Depth since 1985. He has authored four editions of Accounting Standards in Depth; UK Accounting Standards: A Quick Reference Guide; and International Reporting Standards in Depth Volume 1 Theory and Practice and Volume 2 Solutions.
* Shows exactly what you need to know in order to fully understand and apply IFRS
* Concepts, Standards and Regulations are explained in easy to understand terms so that you become familiar with them in the quickest amount of time
* Shows by example - features the published accounts of well known British and European companies
Chapter 1 The regulatory framework and presentation of financial statements
Inventories and construction contracts
Chapter 6 Performance measurement
Chapter 7 Employee costs
Chapter 9 Cash flow statements
Chapter 10 Disclosure standards
Chapter 11 Group reporting
Chapter 12 Financial instruments
Chapter 13 Sundry financial reporting standards
Chapter 14 The international financial reporting interpretations committee
Chapter 15 Taxation
Chapter 8 Foreign trading
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31 December accounting policies acquired acquisition adjusted allocated amortised assets and liabilities BAE Systems Plc balance sheet date basis biological assets business combination capitalised carrying amount carrying value cash ﬂows changes classiﬁed consolidated contract costs deferred tax deﬁned beneﬁt deﬁnition depreciation disclosed disclosure discount disposal dividends earnings per share easyJet economic beneﬁts Ended 31 December entity entity’s equity instruments estimated exchange expected expenditure expense fair value ﬁnance lease ﬁnancial assets ﬁnancial instruments ﬁnancial statements ﬁrst ﬁve ﬁxed goodwill Group identiﬁable IFRIC IFRS impairment loss included income statement incurred Innogenetics intangible assets interest rate interest rate swaps inventories investment property joint venture measured million non-current assets obligation payable period plan assets plant and equipment Plc Year Ended present value proﬁt or loss recognised recoverable amount reﬂect reportable segments revaluation revenue risk share options share-based payment signiﬁcant speciﬁc subsidiary sufﬁcient Total transactions