Interpretation and Application of International Financial Reporting Standards 2010 - Brossura

Epstein, Barry J.; Jermakowicz, Eva K.

9780470453223: Interpretation and Application of International Financial Reporting Standards 2010

Brossura

ISBN 10: 0470453222 ISBN 13: 9780470453223

Casa editrice: John Wiley & Sons Inc, 2010

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Your one-stop resource for understanding current International Financial Reporting Standards

With widespread acceptance and use of the IASB standards around the globe, the need to understand the IASB standards greatly increases. Wiley IFRS 2010 provides the necessary tools for understanding the IASB standards and offers practical guidance and expertise on how to use and implement them. The Wiley IFRS 2010 Book and CD-ROM set covers the most recent International Financial Reporting Standards (IFRS) and IFRIC interpretations. In addition, it is an indispensable guide to IFRS compliance.

Detailed coverage of all previously issued IAS and IFRS standards and Standing Interpretations Committee (SIC) and International Financial Reporting Interpretations Committee (IFRIC)
Equally valuable for preparers, auditors, and users of financial reports
Provides a complete explanation of all IFRS requirements, coupled with copious illustrations of how to apply the rules in complex, real-world fact situations
Serves as a reference guide during actual implementation of IFRS and preparation of IFRS-based financial statements

To optimize your understanding, both examples created to explain particular IFRS requirements and selections from actual published financial statements are provided throughout the book, illustrating all key concepts.

Le informazioni nella sezione "Riassunto" possono far riferimento a edizioni diverse di questo titolo.

Informazioni sull?autore

BARRY J. EPSTEIN, PhD, CPA, a leading consulting and testifying accounting and auditing expert, is coauthor of the Wiley IFRS and Wiley GAAP annual publications. He is a partner in the Chicago firm Russell Novak & Company. He has forty years' experience in the public accounting profession as auditor, technical director/partner for several national and local firms, and regularly serves as an accounting, auditing, financial reporting and financial analysis expert in litigation matters, including assignments for both the private sector entities and governmental agencies.

EVA K. JERMAKOWICZ, PhD, CPA, is coauthor of Wiley IFRS and a leading consultant to international organizations and businesses. She is a frequent speaker at international venues and has taught accounting for twenty-five years. She is currently Professor of Accounting and Chair of the Accounting and Business Law Department at Tennessee State University.

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Your one indispensable guide to IFRS compliance

International Financial Reporting Standards (IFRS), under development originally as International Accounting Standards (IAS) since the mid-1970s, have received increased attention since such signal events as endorsements by the International Organization of Securities Commissions (IOSCO) in 2000, by the European Union (2002, mandating universal adoption by publicly held companies in 2005), and by the [Securities and Exchange Commission (SEC)] (waiving reconciliation requirements for foreign private issuers using IFRS beginning in 2007, and establishing a "road map" for adoption by US public companies by 2016).

With further refinements to IFRS continuing to be made by the International Accounting Standards Board (IASB) aided by work being performed pursuant to the "convergence" commitment made by the US standard-setter, Financial Accounting Standards Board (FASB) and given the now virtually unstoppable momentum worldwide to adopt (or, in some cases, adapt) IFRS, mastery of this knowledge is becoming a necessity for all preparers of financial statements. Although only publicly held US companies are facing an impending near-term mandate to convert to IFRS, many private companies already are encountering requests or demands from their major customers, suppliers, joint venture partners, and affiliates to provide financial reports prepared under IFRS. In all likelihood, replacement of US GAAP by IFRS will become a reality for even privately held enterprises within the foreseeable term.

Experience from EU-based companies that implemented IFRS financial reporting by 2005 suggests that such an undertaking may require a multiyear effort. Wiley IFRS 2010 provides a complete explanation of all IFRS requirements, coupled with copious illustrations of how to apply the rules in complex, real-world fact situations, and can be used both in training accounting staff and serving as a reference guide during actual implementation of IFRS and preparation of IFRS-based financial statements. Wiley IFRS 2010 is equally valuable for preparers, auditors, and users of financial reports.

To optimize the reader's understanding, both examples created to explain particular IFRS requirements and selections from actual published financial statements are provided throughout the book, illustrating all key concepts. Also included in this edition are a revised, comprehensive disclosure checklist; an updated, detailed comparison between US GAAP and IFRS, keyed to chapter topics; and integrated discussions of major ongoing IASB projects that may have significant impact on readers' responsibilities over the coming year, including IASB's controversial attempt to define IFRS for privately held companies.

The revised 2010 edition addresses important and complex requirements such as those pertaining to the accounting for:

Financial instruments, derivatives, and hedging transactions
Revised requirements for form and content of financial statements (IAS 1)
Business combinations under the substantially revised standard IFRS 3
Employee benefits plan accounting under revised IAS 19
Accounting for assets held for sale under revised IFRS 5

The 2010 edition continues detailed coverage of all previously issued IAS and IFRS standards and Standing Interpretations Committee (SIC) and International Financial Reporting Interpretations Committee (IFRIC) interpretations. New examples have been added to every chapter. Other complex areas of financial reporting receiving expansive coverage include: