Wiley Interpretation and Application of International Financial Reporting Standards 2011 - Softcover

Über die Autorin bzw. den Autor

BRUCE MACKENZIE, CA (SA) FCCA, RA, JSE Registered IFRS(r) Advisor, is a member of the IASB SME Implementation Group (SMEIG) and a director of W.consulting (www.wconsulting.co.za), a global IFRS(r) consulting and training company. He has held positions at Deloitte both in South Africa and the United Kingdom in the IFRS(r) Centers of Excellence. DANIE COETSEE, CA (SA), is Professor of Accounting at the University of Johannesburg, specializing in financial accounting. TAPIWA NJIKIZANA, CA (SA), RA, JSE Registered IFRS(r) Advisor, is a technical director at W.consulting. After qualifying with Coopers & Lybrand, he spent time internationally with Ernst & Young and Andersen. RAYMOND CHAMBOKO, CA (SA), JSE Registered IFRS(r) Advisor, is a technical director at W.consulting. He was previously with Ernst & Young and SizweNtsalubaVSP, where he handled accounting technical issues. BLAISE COLYVAS, CA(SA), RA, is a technical director at W.consulting. He was previously the head of technical accounting at Protect-a-Partner, and an audit manager with Grant Thornton.

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International Financial Reporting Standards (IFRS®) have received increased attention since such signal events as endorsements by the International Organization of Securities Commissions (IOSCO) in 2000, by the European Union (2002, mandating universal adoption by publicly held companies in 2005), and by the SEC (waiving reconciliation requirements for foreign private issuers using IFRS® beginning in 2007, and establishing a "road map" for adoption by U.S. public companies by 2016).

With further refinements to IFRS® continuing to be made by the International Accounting Standards Board (IASB) aided by work being performed pursuant to the "convergence" commitment made by the U.S. standard–setter, FASB and given the now virtually unstoppable momentum worldwide to adopt (or, in some cases, adapt) IFRS®, mastery of this knowledge is becoming a necessity for all preparers of financial statements. Although only publicly held U.S. companies are facing an impending near–term mandate to convert to IFRS®, many private companies already are encountering requests or demands from their major customers, suppliers, joint venture partners, and affiliates to provide financial reports prepared under IFRS®. In all likelihood, replacement of U.S. GAAP by IFRS® will become a reality for even privately held enterprises within the foreseeable term.

Experience from EU–based companies that implemented IFRS® financial reporting by 2005 suggests that such an undertaking may require a multi–year effort. Wiley IFRS® 2011 provides a complete explanation of all IFRS® requirements, coupled with copious illustrations of how to apply the rules in complex, real–world fact situations, and can be used both in training accounting staff and serving as a reference guide during actual implementation of IFRS® and preparation of IFRS®–based financial statements. Wiley IFRS® 2011 is equally valuable for preparers, auditors, and users of financial reports.

To optimize the reader′s understanding, both examples created to explain particular IFRS® requirements and selections from actual published financial statements are provided throughout the book, illustrating all key concepts. Also included in this edition are a revised, comprehensive disclosure checklist; an updated, detailed comparison between U.S. GAAP and IFRS® , keyed to chapter topics; and integrated discussions of major ongoing IASB projects that may have significant impact on readers′ responsibilities over the coming year.