Ifrs Essentials

Informationen zum Autor Dr. Dieter Christian is a lecturer at the Vienna University of Economics and Business, several other Austrian universities and various private seminar companies. He is an author in the area of IFRS and Austrian GAAP. He was formerly a Senior Manager and head of the department for IFRS and Austrian GAAP at BDO Austria and also worked in the IFRS department for PricewaterhouseCoopers in Austria. He has a Doctorate in Business Administration and an MBA from Vienna University of Economics and Business . He is a Member of the IFRS working group of the Austrian Financial Reporting and Auditing Committee (AFRAC). Dr. Norbert Lüdenbach is a tax advisor and chartered accountant, and is Head of the IFRS Department of BDO Germany. He is an author of commentaries on IFRS and German GAAP as well as being a lecturer at the University of Freiburg (Germany). He is also the publisher of a practice-oriented German IFRS journal which is published on a monthly basis. Klappentext Gain a deeper understanding of financial reporting under IFRS through clear explanations and extensive practical examples.IFRS can be a complex topic, and books on the subject often tackle its intricacies through dense explanation across thousands of pages. Others seek to provide an overview of IFRS and these, while useful for the general reader, lack the depth required by practitioners and students.IFRS Essentials strikes a balance between the two extremes, offering concise interpretation of the crucial facts supported by a wealth of examples. Problems and their solutions are demonstrated in a manner which is short, straightforward and simple to understand, avoiding complex language; jargon and redundant detail.This book is suitable for students and lecturers at universities and other educational institutions, auditing and accounting trainees, and employees in the area of accounting and auditing who seek to develop their practical skills and deepen their knowledge of IFRS. Zusammenfassung Helps you gain a deeper understanding of financial reporting under IFRS through clear explanations and extensive practical examples. This title is also suitable for employees in the area of accounting and auditing who seek to develop their practical skills and deepen their knowledge of IFRS. Inhaltsverzeichnis Preface xvii Abbreviations xix The Conceptual Framework for Financial Reporting 1 1 Introduction 1 2 The Objective of General Purpose Financial Reporting 1 3 Going Concern 2 4 Qualitative Characteristics of Useful Financial Information 2 4.1 Introduction 2 4.2 Fundamental Qualitative Characteristics 2 4.2.1 Relevance 3 4.2.2 FaithfulRepresentation 3 4.3 Enhancing Qualitative Characteristics 4 4.3.1 Comparability 5 4.3.2 Verifiability 5 4.3.3 Timeliness 5 4.3.4 Understandability 5 5 The Cost Constraint on Useful Financial Reporting 5 6 The Elements of Financial Statements 6 6.1 Definitions 6 6.2 Recognition 6 6.3 Measurement 7 7 Exampleswith Solutions 7 IAS 1 Presentation of Financial Statements 11 1 Introduction and Scope 11 2 Going Concern 11 3 Fair Presentation of the Financial Statements and Compliance with IFRSs 11 4 General Principles Relating to Presentation 12 4.1 Materiality and Aggregation 12 4.2 Offsetting 12 4.3 Frequency of Reporting 12 4.4 Comparative Information 12 4.5 Consistency of Presentation 13 5 Components of the Financial Statements 13 6 Structure and Content of the Components of the Financial Statements 13 6.1 Statement of Financial Position (Balance Sheet) 13 6.2 Statement of Comprehensive Income and Separate Income Statement 14 6.2.1 Profit or Loss, Other Comprehensive Income and How They In...

Table des matières

Foreword V

Abbreviations XXI

The Conceptual Framework for Financial Reporting 1

1. Introduction 1

2. The objective of general purpose financial reporting 1

3. Going concern 1

4. Qualitative characteristics of useful financial information 2

5.The cost constraint on useful financial reporting 5

6.The elements of financial statements 5

7. Examples with solutions 7

IAS 1 Presentation of Financial Statements 11

1. Introduction and scope 11

2. Going concern 11

3. Fair presentation of the financial statements and compliance with IFRSs 11

4. General principles relating to presentation 12

5. Components of the financial statements 13

6. Structure and content of the components of the financial statements 13

7. Examples with solutions 20

IAS 2 Inventories 33

1. Scope 33

2. Measurement 33

3. Presentation and derecognition 35

4. Examples with solutions 35

IAS 7 Statement of Cash Flows 43

1. Introduction 43

2. Preparation of the statement of cash flows 44

3. Special topics 45

4. Consolidated statements of cash flows 45

5. Examples with solutions 46

IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors 55

1.Introduction 55

2.Accounting policies 55

3. Changes in accounting estimates 57

4. Correction of prior period errors 58

5. Examples with solutions 58

IAS 10 Events after the Reporting Period 69

1. Overview 69

2. Examples with solutions 70

IAS 11 Construction Contracts 73

1. Introduction 73

2. Contract revenue 73

3. Contract costs 74

4. Percentage of completion method 74

5. When the outcome of a contract cannot be estimated reliably 77

6. Examples with solutions 77

IAS 12 Income Taxes 91

1. Introduction 91

2. Current tax 91

3. Deferred tax 91

4. Tax (or tax rate) reconciliation 96

5. Examples with solutions 97

IAS 16 Property, Plant and Equipment 111

1. Introduction 111

2. Recognition 111

3. Measurement at recognition 112

4.Measurement after recognition 112

5. Derecognition 115

6. Examples with solutions 116

IAS 17 Leases 127

1. Introduction and scope 127

2. Definitions relating to time 127

3. Classification of leases as finance leases or operating leases 127

4. Accounting of leases by lessees 130

5. Accounting of leases by lessors 130

6. Sale and leaseback transactions 131

7. Examples with solutions 132

IAS 18 Revenue 143

1. Introduction and scope 143

2. Measurement of revenue 143

3. Sale of goods 144

4. Rendering of services 144

5. Interest, royalties and dividends 145

6. Multiple element transactions and linked transactions 146

7. Examples with solutions 148

IAS 19 Employee Benefits and IAS 26 Accounting and Reporting by Retirement Benefit Plans 155

1. Introduction 155

2. Financial reporting without early application of the amendments to IAS 19 issued in June 2011 155

3. The amendments to IAS 19 issued in June 2011 170

IAS 20 Government Grants 175

1. Introduction and scope 175

2. Recognition and measurement 175

3. Presentation 176

4. Repayment of government grants 177

5. Examples with solutions 177

IAS 21 The Effects of Changes in Foreign Exchange Rates 185

1. Scope 185

2. Monetary vs. non-monetary items 185

3. Translation of foreign currency transactions 186

4. Translation of financial statements of foreign operations when preparing the consolidated financial statements 187

5. Examples with solutions 190

IAS 23 Borrowing Costs 199

1. Introduction 199

2. Specific and general borrowings 199

3. Period of capitalization 200

4. Examples with solutions 200

IAS 24 Related Party Disclosures 203

1. Introduction 203

2. Related parties and relationships with them 203

3. Disclosures 204

4. Application of IAS 24 in the consolidated financial statements 205

5. Examples with solutions 205

IAS 26 Accounting and Reporting by Retirement Benef

Détails du produit

• Auteurs: Christian, D Christian, Diete Christian, Dieter Christian, Dieter Ludenbach Christian, Norbert L?denbach, Norbert Ludenbach, Norbert Lüdenbach
• Edition: Wiley, John and Sons Ltd
• Langues: Anglais
• Format d'édition: Livre de poche
• Sortie: 08.03.2013
• EAN: 9781118494714
• ISBN: 978-1-118-49471-4
• Pages: 576
• Thèmes: Wiley Regulatory Reporting; Wiley Regulatory Reporting
• Catégorie: Sciences sociales, droit, économie > Economie > Economie privée