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