A Topic Based Approach
The International Financial Reporting Standards are quite different
from other sets of accounting standards, and are fundamentally
different from US-GAAP, in that they are based on principles, and
not on detailed rules. Financial Reporting under IFRS:A
offers a global perspective on IFRS by
presenting the prescribed rationale and principles and illustrating
them through numerous examples from large international companies.
It aims to develop the fundamental skills necessary to read and use
the information contained in all types of financial statements,
through examples, activities, questions and answers.
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.