International Financial Reporting Standards (IFRS) are a set of accounting standards and rules issued by the International Accounting Standards Board (IASB) that govern how particular types of transactions and events should be reported in financial statements. By presenting IFRS in light of current accounting practice, this book helps students gain practical knowledge of the topic that they can apply as they advance into their accounting careers. This text not only offers a more comprehensive understanding of IFRS standards but also emphasizes fair value, proper accounting for financial instruments, and new developments in international accounting.
This Fifth Edition of Intermediate Accounting, IFRS continues the tradition of providing useful information to educators and students interested in learning about IFRS. In addition to covering the latest IFRS standards and how they are applied in practice, this edition provides new learning aids such as Accounting Matters and Analytics in Action to help students master the text material. The edition also includes an appendix on ESG Reporting that explains what kind of information is included in ESG reports.Table of Contents
1 The Environment and Conceptual Framework of Financial Reporting
2 The Accounting Information System
3 Income Statement, Related Information, and Revenue Recognition
4 Statement of Financial Position and Statement of Cash Flows
5 Accounting and the Time Value of Money
6 Cash and Receivables
7 Valuation of Inventories: A Cost-Basis Approach
8 Inventories: Additional Valuation Issues
9 Acquisition and Disposition of Property, Plant, and Equipment
10 Depreciation, Impairments, and Depletion
11 Intangible Assets
12 Current Liabilities, Provisions, and Contingencies
13 Non-Current Liabilities
14 Equity
15 Dilutive Securities and Earnings per Share
16 Investments
17 Revenue Recognition
18 Accounting for Income Taxes
19 Accounting for Pensions and Postretirement Benefits
20 Accounting for Leases
21 Accounting Changes and Error Analysis
22 Statement of Cash Flows
23 Presentation and Disclosure in Financial Reporting
APPENDIX A Specimen Financial Statements: Marks and Spencer Group plc
APPENDIX B Specimen Financial Statements: adidas AG
APPENDIX C Specimen Financial Statements: Puma Group
APPENDIX D Environmental, Social, and Governance Reporting
