As the International Accounting Standards Board (IASB) continues towards its goal of a set of high quality financial reporting standards, and makes significant strides in achieving global convergence of accounting standards worldwide, International Financial Reporting Standards (IFRS) continue to be important to the accounting world. Wiley IFRS 2012 provides the necessary tools for understanding the IASB standards and offers practical guidance and expertise on how to use and implement them.

Covers the most recent International Financial Reporting Standards (IFRS) and IFRIC interpretations
An indispensable guide to IFRS compliance
Provides a complete explanation of all IFRS requirements, coupled with copious illustrations of how to apply the rules in complex, real-world situations

Written by a world-class team of authors active in IFRS consulting, training, working with multinational listed companies, public sector entities and SMEs, this book is an indispensable guide to IFRS compliance. And see inside the book for full details on how to download the entire book as a free ePDF, for quick searching and checking on your computer wherever you are

Table of Contents :

1 Introduction to International Financial Reporting Standards 1
2 Conceptual Framework 29
3 Presentation of Financial Statements 37
4 Statement of Financial Position 57
5 Statement of Profit or Loss and Other Comprehensive Income, and Changes in Equity 71
6 Statement of Cash Flows 91
7 Accounting Policies, Changes in Accounting Estimates, and Errors 107
8 Inventory 127
9 Property, Plant, and Equipment 147
10 Borrowing Costs 197
11 Intangible Assets 205
12 Investment Property 235
13 Interests in Associates 247
14 Interests in Joint Ventures 265
15 Business Combinations and Consolidated Financial Statements 281
16 Shareholders’ Equity 373
17 Share-Based Payment 401
18 Current Liabilities, Provisions, Contingencies, and Events After the Reporting Period 439
19 Employee Benefits 473
20 Revenue Recognition, Including Construction Contracts 511
21 Government Grants 549
22 Leases 561
23 Foreign Currency 613
24 Financial Instruments 643
25 Fair Value 737
26 Income Taxes 755
27 Earnings Per Share 789
28 Operating Segments 807
29 Related-Party Disclosures 823
30 Accounting and Reporting by Retirement Benefit Plans 835
31 Agriculture 843
32 Extractive Industries 855
33 Accounting for Insurance Contracts 863
34 Interim Financial Reporting 873
35 Inflation and Hyperinflation 911
36 First-Time Adoption of International Financial Reporting Standards 935