Wiley International Trends in Financial Reporting under IFRS

Wiley International Financial Reporting Trends provides copious examples of footnote disclosures and financial statement formats, carefully culled from the world's leading international companies ("Global 500") that are already compliant with IFRS and report under IFRS standards promulgated by the International Accounting Standards Board, the IASB. Arranged topically, this book is a quick source of reference to find answers to issues of interest to financial statement preparers. It provides hundreds of illustrations taken from financial statements prepared under IFRS by global conglomerates thereby helping preparers and users of financial statements to expeditiously obtain examples of footnote disclosures and financial statements presented under these Standards which are popularly referred to as "principles-based" standards (as opposed to "rules-based" standards). Additionally, Wiley International Financial Reporting Trends contains comparisons of IFRS to US GAAP, Indian GAAP, and Chinese GAAP, making it a truly global reference resource.

Preface ixAcknowledgments xiAbout the Authors xiiiAbout the Contributors xvSECTION I: INTRODUCTION TO IFRS AND IASB FRAMEWORK 1Chapter 1: Introduction to International Financial Reporting Standards 3Chapter 2: IASB Framework for the Preparation and Presentation of Financial Statements 13SECTION II: PRESENTATION OF FINANCIAL STATEMENTS 17Chapter 3: Presentation of Financial Statements (IAS 1) 19Chapter 4: Statement of Cash Flows (IAS 7) 55Chapter 5: Accounting Policies, Changes in Accounting Estimates and Errors (IAS 8) 65Chapter 6: Events after the Reporting Date (IAS 10) 73SECTION III: REVENUE 81Chapter 7: Revenue (IAS 18) 83Chapter 8: Construction Contracts (IAS 11) 95Chapter 9: Accounting for Government Grants and Disclosure of Government Assistance (IAS 20) 99Chapter 10: Agriculture (IAS 41) 105SECTION IV: NONCURRENT ASSETS, PROVISIONS, CURRENT LIABILITIES AND ASSETS 109Chapter 11: Property, Plant and Equipment (IAS 16) 111Chapter 12: Borrowing Costs (IAS 23) 131Chapter 13: Provisions, Contingent Liabilities and Contingent Assets (IAS 37) 143Chapter 14: Intangible Assets (IAS 38) 159Chapter 15: Investment Property (IAS 40) 179SECTION V: INVESTMENTS IN ASSOCIATES, JOINT VENTURES, SUBSIDIARIES, IMPAIRMENT OF ASSETS AND BUSINESS COMBINATIONS 191Chapter 16: Consolidated Financial Statements and Separate Financial Statements (IAS 27) 193Chapter 17: Investments in Associates (IAS 28) 215Chapter 18: Interests in Joint Ventures (IAS 31) 219Chapter 19: Impairment of Assets (IAS 36) 249Chapter 20: Business Combinations (IFRS 3) 263Chapter 21: Non-Current Assets Held for Sale and Discontinued Operations (IFRS 5) 281SECTION VI: FINANCIAL INSTRUMENTS 289Chapter 22: Financial Instruments: Presentation (IAS 32) 291Chapter 23: Financial Instrument: Recognition and Measurement (IAS 39) 293Chapter 24: Financial Instrument Disclosures (IFRS 7) 297SECTION VII: EMPLOYEE BENEFITS AND SHARE-BASED PAYMENTS 329Chapter 25: Employee Benefits (IAS 19) 331Chapter 26: Share-Based Payments (IFRS 2) 363SECTION VIII: STANDARDS APPLICABLE TO PUBLIC LISTED COMPANIES 373Chapter 27: Earnings per Share (IAS 33) 375Chapter 28: Interim Financial Reporting (IAS 34) 383Chapter 29: Operating Segments (IFRS 8) 397SECTION IX: INDUSTRY-SPECIFIC STANDARDS AND STANDARDS APPLICABLE IN SPECIFIC SITUATIONS 427Chapter 30: Accounting and Reporting by Retirement Benefit Plans (IAS 26) 429Chapter 31: Financial Reporting in Hyperinflationary Economies (IAS 29) 433Chapter 32: First-Time Adoption of International Financial Reporting Standards (IFRS 1) 437Chapter 33: Insurance Contracts (IFRS 4) 445Chapter 34: Exploration for and Evaluation of Mineral Resources (IFRS 6) 465SECTION X: OTHER GENERAL STANDARDS 489Chapter 35: Inventories (IAS 2) 491Chapter 36: Income Taxes (IAS 12) 505Chapter 37: Leases (IAS 17) 541Chapter 38: The Effects of Changes in Foreign Exchange Rates (IAS 21) 553Chapter 39: Related Party Disclosures (IAS 24) 563APPENDICES: STANDARDS ISSUED BUT NOT EFFECTIVE IMMEDIATELY WITH EARLIER APPLICATION PERMISSIBLE 577Appendix A: Financial Instruments (IFRS 9) 579Appendix B: New IFRS Issued and Amendments to Existing Standards Effective in 2011 and Later Years 587APPENDICES: COMPARISON OF IFRS TO OTHER ACCOUNTING STANDARDS 599Appendix C: Comparison of IFRS with US GAAP 601Appendix D: Comparison of IFRS with India Accounting Standards 633Appendix E: Comparison of IFRS with China GAAP 707Index 783