IFRS For Dummies, 2nd Edition
By Steven Collings
Publisher: Wiley / For Dummies
Final Release Date: March 2012
Pages: 400

The quickest, easiest way to get to grips with International Financial Reporting Standards

If you're an accountant, student, or trainee looking for a quick fix on IFRS, this plain-English guide has you covered. IFRS For Dummies provides all the facts you need to understand the complex world of international financial reporting, along with plenty of practical, real-world examples.

  • Learn the who, what and why – get the lowdown on why the standards were created and which countries use them, as well as the advantages of IFRS

  • Master IFRS financial statements – get up and running with the basics of how to prepare financial statements under IFRS, and how some of the key standards work

  • Prepare statements with confidence – get to grips with some of the more complicated aspects of financial reporting, including how to prepare consolidated statements for subsidiaries and joint ventures

  • Know what to disclose – find out what you should disclose in addition to the usual primary financial statements, and understand the importance of disclosure notes

  • Avoid reporting mistakes – be aware of common pitfalls when preparing financial statements under IFRS and IAS and know how to avoid them

  • Fix reporting problems – take in expert advice and guidance on how to resolve an array of complex financial reporting problems

Open the book and find:

  • A breakdown of IFRS and where they apply

  • The key standards – in a nutshell

  • Advice on adopting IFRS for the first time

  • How IFRS affects the key components of your financial statements

  • The lowdown on disclosing information in financial statements

  • Ways of preparing financial statements under IFRS

  • Tips for avoiding common pitfalls

  • Methods for resolving difficult reporting problems

Learn to:

  • Find your way around the key standards

  • Understand where IFRS apply

  • Prepare for adopting IFRS for the first time

  • Produce IFRS-friendly financial statements

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