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Klappentext An indispensable guide to making the transition to dual IFRS/GAAP financial reportingU.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 transitionIn 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. Zusammenfassung An indispensable guide to making the transition to dual IFRS/GAAP financial reportingU.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 transitionIn 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. Inhaltsverzeichnis Preface xxxiiiAbout the Author xxxv1 Introduction and Scope of Book 11.1 Nature of Accounting Literature and Pertinent Pronouncements 11.2 Significance of the IFRS Transition 11.3 IFRS Transition Scenario 31.4 Scope of the Book 62 IFRS First-Time Adoption Requirements and Interaction with U.S. GAAP and SEC Rules and Regulations 112.1 Chapter Preview 112.2 IFRS 1 Amendments and Effective Dates 112.3 Rationale of IFRS 1 122.4 Accounting Steps in Migrating to IFRSs 182.5 First IFRS Financial Statements 202.6 Entities Affected by IFRS 1 282.7 Compliance with IFRSs 292.8 Transition Date 372.9 Accounting Policies 372.10 The Impact of Alternative Bases of Reporting 4...
