IFRS For Dummies

The quickest, easiest way to get to grips with International Financial Reporting Standards If you're an accountant, student, or trainee looking for a quick fix on IFRS, this plain-English guide has you covered. IFRS For Dummies provides all the facts you need to understand the complex world of international financial reporting, along with plenty of practical, real-world examples. Learn the who, what and why - get the lowdown on why the standards were created and which countries use them, as well as the advantages of IFRS Master IFRS financial statements - get up and running with the basics of how to prepare financial statements under IFRS, and how some of the key standards work Prepare statements with confidence - get to grips with some of the more complicated aspects of financial reporting, including how to prepare consolidated statements for subsidiaries and joint ventures Know what to disclose - find out what you should disclose in addition to the usual primary financial statements, and understand the importance of disclosure notes Avoid reporting mistakes - be aware of common pitfalls when preparing financial statements under IFRS and IAS and know how to avoid them Fix reporting problems - take in expert advice and guidance on how to resolve an array of complex financial reporting problems Open the book and find: A breakdown of IFRS and where they apply The key standards - in a nutshell Advice on adopting IFRS for the first time How IFRS affects the key components of your financial statements The lowdown on disclosing information in financial statements Ways of preparing financial statements under IFRS Tips for avoiding common pitfalls Methods for resolving difficult reporting problems Learn to: Find your way around the key standards Understand where IFRS apply Prepare for adopting IFRS for the first time Produce IFRS-friendly financial statements