The Wiley 2023 Interpretation and Application of IFRS Standards is an authoritative, one-stop resource for accountants who need to interpret and apply the most recent International Financial Reporting Standards with precision and consistency. The book contains numerous practical examples and up-to-date guidance on the expanding framework for unified financial reporting.
The authors have created a volume that offers transparent, accessible, and efficient information relevant to the ever-evolving IFRS standards. Readers will also find: - Clear and informative explanations of the newest updates found in the 2023 IFRS Standards - Well-reasoned examples of new standards being applied to difficult cases drawn from real-world situations - Realistic and practical advice created by, and for, accounting professionals
Perfect for accountants and auditors, the Wiley 2023 Interpretation and Application of IFRS Standards will earn a place on the desks and bookshelves of students of accounting, finance, and related fields.
Table of Contents
About the Authors vii
1 Introduction To International Financial Reporting Standards 1
2 Conceptual Framework 15
3 Presentation of Financial Statements 41
4 Statement of Financial Position 63
5 Statements of Profit or Loss and Other Comprehensive Income, and Changes In Equity 77
6 Statement of Cash Flows 99
7 Accounting Policies, Changes in Accounting Estimates and Errors 117
8 Inventories 139
9 Property, Plant and Equipment 157
10 Borrowing Costs 187
11 Intangible Assets 195
12 Investment Property 225
13 Impairment of Assets and Non- Current Assets Held for Sale 239
14 Consolidations, Joint Arrangements, Associates and Separate Financial Statements 261
15 Business Combinations 313
16 Shareholders’ Equity 365
17 Share- Based Payment 389
18 Current Liabilities, Provisions, Contingencies and Events After the Reporting Period 423
19 Employee Benefits 457
20 Revenue from Contracts with Customers 483
21 Government Grants 523
22 Leases 537
23 Foreign Currency 567
24 Financial Instruments 599
25 Fair Value 729
26 Income Taxes 759
27 Earnings Per Share 797
28 Operating Segments 815
29 Related Party Disclosures 833
30 Accounting and Reporting by Retirement Benefit Plans 847
31 Agriculture 855
32 Extractive Industries 869
33 Accounting for Insurance Contracts 879
34 Interim Financial Reporting 909
35 Hyperinflation 929
36 First- Time Adoption of International Financial Reporting Standards 939
Index 963
