Understanding IFRSs

Understanding IFRs is for the beginners and the experts. It contains lucid and illustrative discussion of all International Financial Reporting Standards (IFRSs 1-8), International Accounting Standards (all applicable standards), IFRIC Interpretations (1, 3-18), SIC

Interpretations (all applicable SICs) with demonstration of accounting entries, valuation techniques and disclosures.

Some of the Topics Comprehensively Discussed are:

Global Convergence

Convergence versus Adoption

Presentation of Financial Statements

Statement of Comprehensive Income

Statement of Changes in Equity

Classified Statement of Financial Position

Inventories

Revenue

Continuing Managerial Involvement

Customer Loyalty Programme

Sale of Real Estate

Property, Plant & Equipment

Depreciation by Components

Intangible Assets

Valuation of Technology Based, Contract Based and Customer Related IntangiblesIntangibles having Indefinite Useful Life

Impairment Analysis

Fair Value Less Costs to Sale

Business Combination

Fair Value Based Acquisition Accounting

Financial Instruments

Puttable Instruments Classified as Equity Accounting for Short Selling and REPO

Zero Coupon Bond

Amortised Cost Method

Held to Maturity Tainting Rule

Classifying Floating Rate Loan as HTM

Segregation of embedded Derivatives

Compound Financial Instruments

Reclassification Adjustments

Hedge Accounting and Unwinding of Hedges

Service Concession Arrangements

Cash Flow Approach and Intangible Accounting Approach

Investment Property

Agriculture

Income Tax

Tax Base

Taxable Temporary Difference

Deductible Temporary Difference

Currency Translation

Segregation of Currency Fluctuation Element from fair Value Changes