International Financial Reporting Standards are increasingly adopted worldwide, and it is critical to understand their place within the global business environment as well as the most up-to-date methods of applying them. In IFRS and XBRL Kurt Ramin and Cornelis Reiman, world authorities on IFRS, have condensed the overwhelming flood of available material to present a comprehensive guide to the key components of IFRS, helping to explain why they are a priority for private enterprises and governments alike.
To complete the picture, the authors examines other standards, and cover important issues such as US GAAP convergence with IFRS, and the important of International Valuation Standards, IFRS and XBRL is the complete guide to the background, current state, and future of International Financial Reporting Standards.
Key Features
- provides valuable commentary on key components of IFRS which are crucial to local, national and international business decision making.
- demonstrates the importance of disclosure checklists.
- offers illustrative financial statements arising from IFRS.
- looks at recent developments in IFRS, in particular how the standards should be reflected in the narrative report, and what implications they have for sustainability reporting.
- explores how business reporting can be improved, for example through the addition of non-financial reporting.
- examines the key issue of emerging technology in reporting under IFRS, especially the use of XBRL and the obvious push for a new paradigm whereby object definitions, tracking and valuation offer considerable benefits to the people who produce and rely upon business reports.
Contents
PART I: INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
- Chapter 1: Introduction to and objectives of IFRS
- Chapter 2: How important are IFRS to business and global acceptance?
- Chapter 3: Governance and accountability of the IFRS Foundation
- Chapter 4: Framework, standards and interpretations of IFRS
- Chapter 5: IFRS Practice Statement Management Commentary
- Chapter 6: Future plans
- Chapter 7: New presentation formats
- Chapter 8: Contents of IFRS book
- Chapter 9: Glossary for IFRS
- Chapter 10: Index to IFRS book
PART II: IFRS DISCLOSURES, OTHER REPORTING STANDARDS AND ASSURANCE
- Chapter 1: IFRS disclosure
- Chapter 2: Other reporting standards
PART III: XBRL – USING TECHNOLOGY TO IMPLEMENT STANDARDS
- Chapter 1: XBRL
- Chapter 2: XBRL and IFRS
- Chapter 3: Organising and collecting data
- Chapter 4: Using systems to organise and collect data
- Chapter 5: Opportunities to integrate and track data objects
PART IV: TRACKING OBJECTS – A PARADIGM SHIFT IN BUSINESS REPORTING
- Chapter 1: Introduction
- Chapter 2: Developments in new reporting models
- Chapter 3: Recognition and de-recognition
- Chapter 4: Discussing measurement
- Chapter 5: A comprehensive business reporting model
- Chapter 6: Future reporting: the object and value supply chain
- Chapter 7: Integrated reporting
- Chapter 8: Object tracking
PART V: THE NEED FOR INCREASED ACCEPTANCE OF IFRS
- Chapter 1: The need for increased acceptance of IFRS
- Chapter 2: The need for increased acceptance of XBRL
- Chapter 3: Additional issues
- Chapter 4: Conclusion
Appendices
- Appendix A: IFRS example – for familiarisation
- Appendix B: SNA 2008 – Contents
- Glossary of IFRS terms
- Index
About the Authors
- Kurt Ramin (Dubai, UAE), until recently served as Director and Advisor at AccountAbility and the IFRS Foundation, both located in London. His work at the IFRS Foundation and the IASB involved introducing IFRS and XBRL to more than 80 countries. During his tenure with the IFRS Foundation he lead XBRL International as Global Chairman and was a member of the European Union Commission's High Level Expert Group on Intangibles. From 2008 to 2012 he was Treasurer for the International Union for Conservation of Nature (IUCN), the world's largest association of nature conservation agencies, headquartered in Switzerland. Prior to joining the IFRS Foundation (and its predecessor, the IASC Foundation) he was a Global Capital Markets Group Partner at PricewaterhouseCoopers in New York and Chief Financial Officer at several international companies.
- Cornelis Reiman (Bangkok, Thailand), is an international board advisor. Previously, he was President of an economic development entity promoting International Financial Reporting Standards in developing countries. Before that, he was Dean and Vice President of universities in Thailand and Singapore. Prior to academia, he consulted in the private, public and not-for-profit sectors on corporate management and strategic planning. The global IT provider IBM, and the former accounting services firm of Arthur Andersen & Co., employed him earlier. Cornelis has a Ph.D. in Economics and enjoys exceptional professional qualifications, including FCPA (Australia and Singapore), FCIS, Chartered Accountant, and Senior Member with the Australian Computer Society. Presently, he is an Independent Director on the board of the Chamber of Accountants of the Republic of Kazakhstan. In addition, he advises CPA Russia.
Book Details
- Hardcover: 752 pages
- Publisher: Wiley; 1 edition (2013)
- Language: English
- ISBN-10: 1118369734
- ISBN-13: 978-1118369739
- Product Dimensions: 1.7 x 5.9 x 9.1 inches
- List price: $74.50