IFRS Essentials [Paperback]

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.

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<lc¥