International Financial Reporting Standards : A Practical Guide, Newly Revised Edition
In response to the global financial crisis in 1998, an initiative was launched to strengthen the global financial structure, and, although the International Accounting Standards (IAS) have been in existence for some time, it is believed such initia...
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| Language: | English |
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Washington, DC: World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/01/5806952/international-accounting-standards-practical-guide-international-accounting-standards-practical-guide-newly-rev-edition http://hdl.handle.net/10986/7323 |
| Summary: | In response to the global financial
crisis in 1998, an initiative was launched to strengthen the
global financial structure, and, although the International
Accounting Standards (IAS) have been in existence for some
time, it is believed such initiative will help promote
transparency in financial reporting, and acceptance of its
wide range of international best practices. This publication
provides guidance, and summarizes each IAS, while each
chapter contains a simple case study, emphasizing the
practical application of key concepts in a particular
standard. On how to use this publication, the authors
created a template to facilitate discussion of each
standard: 1) "problems addressed" identifies the
main objectives, and key issues of the standard; 2)
"scope of the standard" identifies specific
transactions covered by a standard; 3) "accounting
treatment" lists the specific accounting principles,
bases, conventions, rules, and practices to be adopted for
compliance with a particular standard; and,
4)"disclosure" describes the manner in which the
financial, and non-financial items should be presented in
financial statements, including aspects that should be
disclosed in such financial statements. |
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