IFRS For Dummies (eBook)

Steve Collings is Audit and Technical Director for Leavitt Walmsley Associates Ltd. Steve has written extensively for AccountingWEB.co.uk and is the author of Interpretation and Application of International Standards on Auditing, also published by Wiley. In 2011, Steve was named Accounting Technician of the Year at the British Accountancy Awards.

Introduction 1

Part I: Concepts and Basic Standards 7

Chapter 1: Introducing IFRS 9

Chapter 2: Getting to Grips with Some Basic IFRS 27

Chapter 3: Taking the Plunge: Adopting IFRS for the First Time 51

Part II: Looking at the Key Components of Financial Statements 69

Chapter 4: Accounting for Assets 71

Chapter 5: Looking at Assets You Don't See Every Day 95

Chapter 6: Accounting for Liabilities 117

Chapter 7: Examining Liabilities You Don't See Every Day 141

Chapter 8: Accounting for Revenue 161

Chapter 9: Accounting for Equity 179

Part III: Consolidating and Investing 201

Chapter 10: Getting Your Head Around the Basics of Consolidation 203

Chapter 11: Getting to Grips with More Complex Consolidation Issues 217

Chapter 12: Tackling Associates 239

Chapter 13: Juggling Joint Ventures 257

Part IV: Disclosing Information in the Financial Statements 269

Chapter 14: Reporting Related Parties 271

Chapter 15: Skilfully Segmenting Information 289

Chapter 16: Easing into Earnings per Share 303

Part V: The Part of Tens 321

Chapter 17: Ten Pitfalls to Avoid 323

Chapter 18: Ten Disclosure Requirements Under IFRS 333

Chapter 19: Ten Future Developments in IFRS 343

Part VI: Appendixes 349

Appendix A: Sources of Guidance 351

Appendix B: IFRS for SMEs 357

Appendix C: Glossary 361

Index 365