The 2011 edition of
International GAAP® is the leading and most comprehensive guide to interpreting and implementing IFRS
International GAAP® 2011 has been fully revised and
updated in order to:
• Deal with all new and amended authoritative pronouncements, including the new standard on Financial Instruments (IFRS 9) and the recent and significant revisions of IAS 1 (Presentation of
Financial Statements), IAS 24 (Related Party Disclosures), IAS 27 (Consolidated and Separate Financial Statements), IFRS 3 (Business Combinations) and all changes that have been made through
the Annual Improvements process.
• Explain the many current initiatives that are being pursued by the IASB that will lead to significant changes in accounting requirements; in particular projects on Consolidation, Revenue
Recognition, Leases, Financial Statement presentation and Financial Instruments and Insurance Contracts may all significantly change current accounting practices.
• Provide insight and guidance on the interpretation and practical application of IFRS from a truly global perspective, based on the experience of the book’s authors in dealing with recent
day-to-day practical issues. Extensive interpretation and practical guidance helps resolve complex financial reporting problems Providing leading interpretation and practical guidance, every
chapter contains detailed analysis of how complex financial reporting problems can be resolved appropriately and effectively.
International GAAP® 2011 demonstrates how difficult practical issues should be approached in the new complex global world of international financial reporting, where IFRS has become
the accepted financial reporting system in more than 100 countries. This integrated approach provides a unique level of authoritative material for anyone involved in preparing, interpreting
or auditing company accounts, for regulators, academic researchers and for all students of accountancy. The International Financial Reporting Group of Ernst & Young includes financial
reporting professionals from around the world. Complex technical accounting issues are explained clearly in a practical working context that enables immediate understanding of the point at
issue.
International GAAP® 2011 is accompanied by numerous worked examples, a comprehensive discussion of the practical issues of the day and the possible alternative solutions available, and
hundreds of practical illustrations taken from the actual financial statements of companies that report under IFRSs.