Wiley IFRS 2013 Interpretation and Application of International Financial Reporting Standards

Author: Bruce Mackenzie; Danie Coetsee; Tapiwa Njikizana; Raymond Chamboko; Blaise Colyvas; Brandon Hanekom
Publisher: John Wiley & Sons
ISBN: 9781118277270
Published In: March 2013
Format: Paperback , 1057 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Your one-stop resource for understanding current International Financial Reporting Standards, with a free ePDF of the entire book

As the International Accounting Standards Board (IASB) continues towards its goal of a set of high quality financial reporting standards and makes significant strides in achieving global convergence of accounting standards worldwide, International Financial Reporting Standards (IFRS) continue to be important to the accounting world. Wiley IFRS 2013 provides the necessary tools for understanding the IASB standards and offers practical guidance and expertise on how to use and implement them.

Covers the most recent International Financial Reporting Standards (IFRS) and IFRIC interpretations
An indispensable guide to IFRS compliance
Provides a complete explanation of all IFRS requirements, coupled with copious illustrations of how to apply the rules in complex, real-world situations

Written by a world-class team of authors active in IFRS consulting, training, working with multinational listed companies, public sector entities and SMEs, Wiley IFRS 2013 is an indispensable guide to IFRS compliance. And see inside the book for full details on how to download the entire book as a free ePDF, for quick searching and checking on your computer wherever you are.

Preface vii

About the Authors ix

About the Online Resources xi

1 Introduction to International Financial Reporting Standards 1

2 Conceptual Framework 27

3 Presentation of Financial Statements 35

4 Statement of Financial Position 55

5 Statements of Profit or Loss and Other Comprehensive Income, and Changes in Equity 71

6 Statement of Cash Flows 91

7 Accounting Policies, Changes in Accounting Estimates, and Errors 109

8 Inventory 129

9 Property, Plant and Equipment 149

10 Borrowing Costs 185

11 Intangible Assets 193

12 Investment Property 223

13 Impairment and Noncurrent Assets Held for Sale 235

14 Consolidations, Joint Arrangements, Associates, and Separate Financial Statements 259

15 Business Combinations 307

16 Shareholders’ Equity 359

17 Share-Based Payment 391

18 Current Liabilities, Provisions, Contingencies, and Events After the Reporting Period 427

19 Employee Benefits 461

20 Revenue Recognition, Including Construction Contracts 483

21 Government Grants 517

22 Leases 529

23 Foreign Currency 581

24 Financial Instruments 611

25 Fair Value 709

26 Income Taxes 727

27 Earnings Per Share 765

28 Operating Segments 783

29 Related-Party Disclosures 799

30 Accounting and Reporting by Retirement Benefit Plans 811

31 Agriculture 819

32 Extractive Industries 833

33 Accounting for Insurance Contracts 843

34 Interim Financial Reporting 853

35 Inflation and Hyperinflation 893

36 First-Time Adoption of International Financial Reporting Standards 917

Appendix A: Disclosure Checklist 949

Index 1039

BRUCE MACKENZIE, CA (SA), FCCA RA, JSE Registered IFRS® Advisor, is a member of the IASB Advisory Council and the IASB SME Implementation Group (SMEIG) and a director of W Consulting (www.wconsulting.co.za), a global IFRS® consulting and training company. He has held positions at Deloitte both in South Africa and the United Kingdom in the IFRS® Centers of Excellence.

DANIE COETSEE, CA (SA), is Professor of Accounting at the University of Johannesburg, specializing in financial accounting. He is a a member of the IASB Consultative Group on the Methodology for Fieldwork and Effects Analyses.

TAPIWA NJIKIZANA, CA (SA), RA, JSE Registered IFRS® Advisor, is a technical director at W Consulting. After qualifying with Coopers & Lybrand, he spent time internationally with Ernst & Young and Andersen.

RAYMOND CHAMBOKO, CA (SA), JSE Registered IFRS® Advisor, is a technical director at W Consulting. He was previously with Ernst & Young and SizweNtsalubaVSP, where he handled accounting technical issues.

BLAISE COLYVAS, CA (SA), RA, is a technical director at W Consulting. He was previously the Head of Technical Accounting at Protect-a-Partner and an audit manager with Grant Thornton.

BRANDON HANEKOM, CA (SA), is a technical manager at W Consulting. He completed his articles at RSM Betty & Dickson, where he gained three years' public practice experience on audits for large listed companies, large privately owned groups, trusts, and various associations.

EDWIN SELBST, CA (SA), RA, is a technical director at W Consulting heading up the risk management practice. He was previously technical partner for Crowe Horwath South Africa.