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The International Accounting Standards Board (IASB) and its International Financial Reporting Standards (IFRSs), have acquired a central position in the practice and regulation of financial reporting around the world. As a unique instance of a private-sector body setting standards with legal force in many jurisdictions, the IASB's rise to prominence has been accompanied by vivid political debates about its governance and accountability. Similarly, the IASB's often innovative attempts to change the face of financial reporting have made it the centre of numerous controversies. This book traces the history of the IASB from its foundation as successor to the International Accounting Standards Co...
"This book is written by authors who clearly understand the challenges facing all who seek to understand and apply international standards. I recommend it to you." —From the Foreword by Sir David Tweedie Chair of the International Accounting Standards Board In this defining resource, authors Roger Hussey and Audra Ong have compiled everything accountants, executives, and organizations in different countries need to reach agreement on accounting rules and standards. International Financial Reporting Standards Desk Reference includes a background on how the movement toward a common language for international accounting evolved to its present state, summarizes existing standards highlighting ...
'International Accounting' is aimed at professional accountants who need to keep up to date with the various topics within its pages, including fair value accounting under IAS/IFRS, adopting and implementing international financial reporting standards in transition economies and impairment of fixed assets.
International Accounting Standards (IAS) are a set of standards developed by the International Accounting Standards Board (IASB) to provide a common global framework for financial reporting. These standards are designed to ensure consistency, transparency, and comparability in financial reporting across different countries and industries. IAS cover various aspects of financial reporting, including the presentation of financial statements, recognition and measurement of assets, liabilities, income, and expenses, as well as disclosure requirements. They are used by companies listed on stock exchanges worldwide and are particularly important for multinational corporations operating in multiple ...
This text presents international accounting within the context of managing multinational enterprises, focusing on business strategies and how accounting applies to these strategies. This unique approach gives students the opportunity to learn about international accounting from a perspective similar to what they will experience in the business world. The book explains the key factors that influence accounting standards and practices in different countires, and how those factors impact the convergence of standards worldwide. Particular emphasis is given to culture and its unique contribution to accounting standards and practices worldwide. The book focuses on the needs of users of financial and accounting information across borders with the aim of enhancing their understanding of how to use information and make more informed decisions in an increasingly complex and dynamic international business environment.
A historical study of the body that sets International Financial Reporting Standards - now the basis for financial reporting - with extensive background information to help practitioners, policy-makers, researchers, and educators form a deeper understanding of the people, forces, and events that have shaped these standards.
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Publisher description
A concise FAQ guide to IFRS principles and practices Co-written by Steven Collings, winner of Accounting Technician of the Year at the British Accountancy Awards 2011, this book is a comprehensive guide to International Financial Reporting Standards (IFRS) which became mandatory in the EU in 2005, and they will almost certainly be adopted by most other developed countries in the near future. Unlike US-GAAP and other sets of standards, the IFRS are principles-based rather than rules-based, putting the onus of interpretation more on users than has previously been the case. Under IFRS users must understand the economic substance of operations, and they must be able to make assumptions, hypothes...