The Handbook to IFRS Transition and to IFRS U.S. GAAP Dual Reporting: Interpretation, Implementation and Application to Grey Areas

Front Cover
John Wiley & Sons, May 3, 2012 - Business & Economics - 640 pages
An indispensable guide to making the transition to dual IFRS/GAAP financial reporting

U.S. financial reporting will undergo an unprecedented level of change within the next several years. U.S. companies face a convergence between U.S. GAAP and IFRS, affecting several major accounting standards—most notably in the areas of leasing, revenue recognition, and financial instruments. It is imperative that U.S. companies understand these major changes and their business and operational implications. The IFRS U.S. GAAP Dual Reporting Handbook to First-Time Adoption offers a comprehensive treatment of both the principles and techniques of dual reporting under IFRS/U.S. GAAP, while exploring the practical implications for accounting professionals of reporting under both sets of standards.

  • Takes an operating approach to the implementation and application of the dual standards
  • Draws upon the author's extensive firsthand experience to dispel uncertainty and offer decision makers expert technical assistance
  • Defines systemic changes businesses will need to make to accommodate IFRS standards
  • Compares the two bodies of standards item-by-item and identifies solutions under one set of standards to issues arising under the other
  • Explores the strategic impact of structuring a company for IFRS transition

In addition to covering the full range of critical issues surrounding adopting IFRS, this indispensable handbook is a rich resource of dual reporting tools, including financial statement formats, charts of accounts, accounting check-lists, reconciliation schedules, and operating manuals.

 

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Contents

49
13
206
17
Context of Statements
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52
41
Structure of the Statement of Income
46
131
54
213
65
Discontinued Operations
90

5
lvi
2
3
2
13
The Impact of Alternative Bases of Reporting
16
Accounting Estimates
24
12
31
xxx
36
Contents
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7
55
15
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Interim Reporting
63
January 15 2012
64
Reconciliations and Disclosures
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6
88
HeldforSale Noncurrent Assets and Discontinued
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Contents
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Contents
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21
609
Implications for Financial Statement Preparers
616
Dual Reporting for The Statement of Financial Position 3 1 Chapter Preview 3 2 Context of the Statement of Financial Position Titles of Statement
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632
3 6 3 Interaction with Classified or Liquidity
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4 1 3 Inventories that are Part of a Disposal
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Captions and Line Items
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48
710
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Dual Reporting for the Statements of Income Chapter Preview 4 2 Different Forms of Statements of Income
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5 10 9 New Developments Results from Ordinary Activities 4 5 11 1 Evolution under IFRSs 4 5 11 2 Titles under U S GAAP Extraordinary Items 4 ...
114
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Contents
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Dual Reporting for the Statement of Cash Flows
204
The Statement of Cash Flows in Certain Specialized
207
Direct versus Indirect Method
219
Contents
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360
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Net versus Gross Reporting
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386
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495
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516
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Dual Reporting for the Statement of Changes in Equity
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Private Issuers 6 2 5 SOCIE of Small and MediumSized Entities 6 3 Different Concepts of the Statement of Changes in Equity
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151
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7
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12
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Operating and Financial Review and Prospects 7 7 Periods to be Covered Time Periods
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633
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576
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601
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636
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About the author (2012)

Francesco Bellandi (Surrey, UK) is a practitioner in US GAAP/IFRS dual reporting. A former Director of Finance at Alitalia, and CFO for the Cobalt Waterline Group. He is a Subject Matter Expert for the AICPA's IFRS Certificate of Accomplishment Program and is IFRS reviewer for the CPA Journal. He manages www.dualgaap.com, a website on IFRSs/US GAAP Dual Reporting, which develops research on accounting standards, analyzes implementation, develops cases and exercises, and offers training solutions, technical inquiry services, and consulting.

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