Understanding reporting standards issued by the IASB is essential for those who prepare and/or interpret financial statements and are required to comply with the increasingly complex set of international accounting and financial reporting standards. The International Accounting/Financial Reporting Standards Guide is your survival handbook in today's global economy. It keeps you up-to-date on the latest general and industry-specific international reporting standards and the proposed changes on your immediate horizon that will most likely alter the way in which you must account for and disclose information.

Formerly titleInternational Accounting Standards: A Practical Guide, this third edition summarizes each International Financial Report Standard in order to provide a broad and basic understanding of the key issues for each standard. In addition to these short summaries, each chapter contains a case study that stresses the practical application of key concepts in a particular standard. This provides the non-technical reader with the tools to participate in discussions on the appropriateness and application of a standard to a given situation. All of the accounting standards, issued by the International Accounting Standards Committee (IASC) are included in this book, as well as interpretations disseminated by the Standards Interpretations Committee (SIC) through 31 December 2003.

"International Financial Reporting Standards (IFRSs) are being increasingly used by companies throughout the world. All entities listed in the EU have been required to issue financial statements under IFRS since 2005, and more and more other countries are making the change to IFRS including the US and Canada. ... The Manual is packed full of clear, practical guidance on how to prepare financial statements in accordance with IFRS. It includes hundreds of practical worked examples and extracts from company reports as well as model IFRS financial statements that help to illustrate the explanations and show exactly how even the most complex calculations and disclosures should be made."--Cover.

This title gives private or public sector executives, managers, and financial analysts without a strong background in accounting the tools they need to participate in discussions and decisions on the appropriateness or application of International Financial Reporting Standards.