Managing the Transition to IFRS-Based Financial Reporting : A Practical Guide to Planning and Implementing a Transition to IFRS or National GAAP

Since 2005, all EU listed companies have been reporting under IFRS in their group accounts. The UK's Accounting Standards Board is proposing that in the next few years all UK companies, other than the smallest, will move to some form of IFRS-based financial reporting. The US is also undergoing a transition to IFRS, as are many other countries such as India and Japan.This book will cover the most common accounting issues involved in a move to IFRS, and deal with the specific accounting and disclosure requirements in the first year of IFRS reporting. Crucially, however, the book will also focus

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Year of publication:	2014
Authors:	Weaver, Lisa
Publisher:	Hoboken : Wiley
Subject:	IFRS \| Rechnungswesen \| Accounting \| Bilanzierungsgrundsätze \| Accounting standards \| Welt \| World
Description of contents:	Table of Contents [gbv.de]

Extent:	Online-Ressource (274 p)
Series:	Wiley Regulatory Reporting Wiley Regulatory Reporting Ser
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Managing the Transition to IFRS-based Financial Reporting; CONTENTS; LIST OF TABLES; LIST OF FIGURES; LIST OF CASE STUDIES; FOREWORD; PREFACE; DISCLAIMER; ACKNOWLEDGEMENTS; ABOUT THE AUTHOR; INTRODUCTION; I UNDERSTANDING THE FRAMEWORK OF PERFORMING A TRANSITION TO IFRS-BASED FINANCIAL REPORTING; 1 INTERNATIONAL FINANCIAL REPORTING IN CONTEXT; 1.1 THE DEVELOPMENT OF INTERNATIONAL FINANCIAL REPORTING; 1.1.1 The Initial Development of Accounting Guidance and Reasons for, and Problems Caused by, National Differences in Accounting Requirements 1.1.2 The International Accounting Standards Committee1.1.3 The Formation of the International Accounting Standards Board, and Endorsement of IAS by IOSCO and the EU; 1.2 THE REGULATORY FRAMEWORK OF IFRS TODAY; 1.2.1 The Overall Governance Structure and Standard-setting Bodies; 1.2.2 IASB Standards; 1.2.3 The Conceptual Framework; 1.2.4 The IFRS for SMEs; 1.3 THE CURRENT POSITION ON INTERNATIONAL HARMONISATION OF FINANCIAL REPORTING; 1.3.1 Convergence and Harmonisation; 1.3.2 Convergence of US GAAP and IFRS; 1.3.3 Harmonisation Challenges - a Cultural Perspective 1.4 THE BENEFITS AND IMPACT OF MOVING TO IFRS1.4.1 The Benefits of Moving to IFRS; 1.4.2 Impact on Profitability and Performance; 1.4.3 Impact on Financial Position; 1.4.4 Volatility and Fair Value Accounting; 1.4.5 Impact on Level of Disclosure; 1.4.6 The Influence of National GAAP on IFRS Accounting Policies; CONCLUSION; 2 THE CONCEPTUAL FRAMEWORK OF IFRS, ACCOUNTING POLICIES AND THE PRESENTATION OF FINANCIAL STATEMENTS; 2.1 THE FRAMEWORK; 2.1.1 The Purpose and Status of the Framework; 2.1.2 The Content of the Framework; 2.1.3 General Purpose Financial Statements 2.1.4 Qualitative Characteristics2.2 DEVELOPING ACCOUNTING POLICIES; 2.2.1 Definition and Basic Principles of Disclosure; 2.2.2 Selection and Application of Accounting Policies; 2.2.3 Alternative Accounting Treatments; 2.3 THE PRESENTATION OF FINANCIAL STATEMENTS; 2.3.1 The Complete Set of Financial Statements; 2.4 FAIR PRESENTATION, GOING CONCERN AND INTERIM FINANCIAL STATEMENTS; 2.4.1 Fair Presentation and Statement of Compliance with IFRS; 2.4.2 Going Concern and Other General Features; 2.4.3 Interim Financial Information; CONCLUSION; 3 IFRS 1 FIRST-TIME ADOPTION OF IFRS 3.1 AN INTRODUCTION TO IFRS 13.1.1 The Objective of IFRS 1; 3.1.2 The Scope of IFRS 1; 3.1.3 Current Developments in Relation to IFRS 1; 3.2 THE DATE OF TRANSITION TO IFRS AND THE OPENING STATEMENT OF FINANCIAL POSITION; 3.2.1 Identifying the Date of Transition; 3.2.2 The Opening Statement of Financial Position; 3.2.3 Exemptions and Exceptions from Full Retrospective Adoption; 3.3 PRESENTATION AND DISCLOSURE; 3.3.1 Explanation of the Transition to IFRS; 3.3.2 The Equity Reconciliations; 3.3.3 The Reconciliation of Total Comprehensive Income 3.3.4 Errors, Presentation Differences and the Statement of Cash Flows
ISBN:	978-1-118-64374-7 ; 978-1-118-64418-8 ; 978-1-118-64374-7
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011832109