International Financial Reporting Standards_guide.pdf

“ The sixth edition of this publication provides a timely update on important developments
in the International Financial Reporting Standards (IFRS) framework. With the growing
number of countries adopting IFRS, this practical guide provides a valuable aid to both the
understanding and application of the standards. Grouping standards by themes provides an
effective tool for preparers to understand the requirements of individual standards within
the broader framework, thus ensuring greater transparency and usefulness of the financial
statements.”
—Kenneth Sullivan, Senior Financial Expert, Monetary and Exchange Affairs Department,
International Monetary Fund
Applying International Financial Reporting Standards (IFRS) in a business situation can have
a significant effect on the financial results and position of a division or an entire business
enterprise. International Financial Reporting Standards: A Practical Guide gives private
or public sector executives, managers, and financial analysts, who may not have a strong
background in accounting, the tools they need to participate in discussions and decisions on
the appropriateness or application of IFRS.
Each chapter summarizes an International Financial Reporting Standard, following a
consistent structure:
• Objective of the Standard
• Scope of the Standard
• Key concepts
• Accounting treatment
• Presentation and disclosure
• Financial analysis and interpretation
• Commentary on current developments
• Implementation decisions from strategic and tactical perspectives
Many chapters of the book also contain examples that illustrate the practical application of
key concepts in a particular standard. The publication includes all of the standards issued
by the International Accounting Standards Board (IASB) through September 30, 2010.
http://treasury.worldbank.org
http://www.firstrand.co/za
ISBN 978-0-8213-8428-2
SKU 18428