Overview

Whether Finance Directors like it or not, IFRS and IAS are here and everybody involved in the financial running of a business – not just FD’s and accounts executives but other directors and professional advisors – have to be up to speed. This guide explains the principles of IAS and the accounting and disclosure agreements, and clarifies practical problems of compliance.

Content

1. Introduction
2. The Framework, financial statements, accounting concepts and policies
3. Presentation of financial statements
4. Accounting policies changes in accounting estimates and errors
5. Events after the reporting period
6. Related party disclosures
7. First-time adoption of IFRS
8. Interim financial reporting
9. Revenue
10. The effects of changes in foreign exchange rates
11. Employee benefits
12. Share based payment
13. Borrowing costs
14. Accounting for government grants
15. Income taxes/current tax/deferred tax
16. Non-current Assets Held for Sale and Discontinued Operations
17. Earnings per share
18. Property plant and equipment
19. Investment property
20. Intangible Assets
21. Impairment of assets
22. Inventories/Stock
23. Construction contracts/Long term WIP
24. Leases – off balance sheet finance
25. Provisions, contingent liabilities and contingent assets
26. Statement of cash flows – (cash flow statements)
27. Business combinations
28. Consolidated and separate financial statements
29. Accounting for investments in associates
30. Financial reporting of interests in joint ventures
31. Operating segments
32. Financial instruments – disclosure and presentation
33. Financial Instruments: recognition and measurement
34. Financial Instruments: disclosures
35. Accounting and reporting by retirement benefit plans
36. Insurance contracts
37. Exploration for and Evaluation of Mineral Resources
38. Agriculture
39. Other financial reporting in hyper inflationary economies
40. Summary of IFRIC’s
41. Basic financial statements and other issues

The author

Ralph Tiffin is a mechanical engineer who subsequently qualified as a Chartered Accountant and became manager in one of the largest international firms of accountants. He is now managing partner of an accountancy and consultancy practice. He has a wealth of experience with companies of all sizes in the UK and overseas. Work typically involves developing clients reporting and management systems along with appropriate management training and developing project appraisal processes and the spreadsheets. Ralph is also author of The Finance and Accounting Desktop Guide (Thorogood).

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