International Financial Reporting Standards: A Practical Guide
World Bank Publications, 2011 - Business & Economics - 434 pages
Now in its sixth edition, and with previous editions translated into 15 languages, this publication gives readers a broad and basic understanding of the key issues for each International Financial Reporting Standard. It summarizes each standard, providing a quick reference for managers and executives in the private and public sectors who may not have a strong background in accounting. This edition includes material of potential interest to the financial analyst. Most chapters also contain exercises which illustrate the practical application of key concepts in a particular standard. This provides the non-technical reader with the tools to participate in discussions on the appropriateness or application of a standard in a given situation. The reader can also evaluate the effect that applying a given standard will have on the financial results and position of a division or an entire enterprise. All of the accounting standards issued by the International Accounting Standards Board (IASB) through September 30, 2010, are included in this publication.
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accounting policies accounting treatment acquired adjustments amortized cost analysis applied assets and liabilities associate Barclays PLC biological assets business combination calculated capital carrying amount Carrying value cash flows changes classified comprehensive income December 31 decisions Problems deferred tax depreciation determine disclosed dividends earnings per share effect entity entity’s equity instruments estimated example fair value less finance lease financial assets financial instruments financial liabilities Financial Position financial ratios financial statements future gains or losses goodwill hedge IASB IFRS impairment loss included income tax insurance contracts intangible assets inventory investment property issued joint ventures loans ment method non-controlling interest number of shares obligation operating lease ordinary shares percent profit or loss ratios recognized in profit related parties reporting date reporting period result revenue share options standard Statement of Comprehensive Statement of Financial subsidiary Tactical decisions tax expense value through profit