Managing the Transition to IFRS-Based Financial Reporting

A Practical Guide to Planning and Implementing a Transition to IFRS or National GAAP

Lisa Weaver

• Publisher: Wiley
• Year: 2014
• Print ISBN: 9781118643747
• eBook ISBN: 9781118644126
• Edition: 1
• Topic: Business
• Subtopic: Accounting Standards
• Index: Business

The one-stop guide to transitioning to IFRS financial reporting

The International Financial Reporting Standards (IFRS) have already been adopted in Europe, and plans are in place to transition to IFRS reporting in the UK, India, Japan, and other major economies. The US is deliberating the nature of its convergence with IFRS and US entities will need to understand the implications of transition. This means all finance managers and financial controllers will be responsible, not only for understanding IFRS, but for making the transition and dealing with implications. Managing the Transition to IFRS-Based Financial Reporting is a one-stop resource for navigating this major change. Case studies and project management advice help move smoothly from GAAP to IFRS principles and requirements.

Managing the Transition to IFRS-Based Financial Reporting is the only book on the market that focuses on both the accounting and non-accounting implications of IFRS transition. This complete approach will guide you from the history and conceptual basis of IFRS through each stage of the transition process, ensuring expert change management and fluid communication from start to finish.

• Takes a holistic approach, covering non-accounting implications like educating and communicating IFRS requirements
• Provides case studies to illustrate best practices for moving to the new international standards
• Provides a framework for planning and executing the entire IFRS transition project

With nearly two decades of financial training experience, author Lisa Weaver is imminently qualified to deliver clear, concise, and understandable content. In addition, the reference material and other resources in Managing the Transition to IFRS-Based Financial Reporting will help you simplify the transition and take advantage of all the benefits IFRS reporting confers.

APPENDIX 1: IASB STANDARDS

IFRS and IAS
IFRS 1	First-time Adoption of International Financial Reporting Standards
IFRS 2	Share-based Payment
IFRS 3	Business Combinations
IFRS 4	Insurance Contracts
IFRS 5	Non-current Assets Held for Sale and Discontinued Operations
IFRS 6	Exploration for and Evaluation of Mineral Resources
IFRS 7	Financial Instruments: Disclosures
IFRS 8	Operating Segments
IFRS 9	Financial Instruments
IFRS 10	Consolidated Financial Statements
IFRS 11	Joint Arrangements
IFRS 12	Disclosure of Interests in Other Entities
IFRS 13	Fair Value Measurement
IAS 1	Presentation of Financial Statements
IAS 2	Inventories
IAS 7	Statement of Cash Flows
IAS 8	Accounting Policies, Changes in Accounting Estimates and Errors
IAS 10	Events After the Reporting Period
IAS 11	Construction Contracts
IAS 12	Income Taxes
IAS 16	Property, Plant and Equipment
IAS 17	Leases
IAS 18	Revenue
IAS 19	Employee Benefits
IAS 20	Accounting for Government Grants and Disclosure of Government Assistance
IAS 21	The Effects of Changes in Foreign Exchange Rates
IAS 23	Borrowing Costs
IAS 24	Related Party Disclosures
IAS 26	Accounting and Reporting by Retirement Benefit Plans
IAS 27	Separate Financial Statements
IAS 28	Investments in Associates and Joint Ventures
IAS 29	Financial Reporting in Hyperinflationary E...

Table of contents

• Cover
• Titlepage
• Copyright
• List of Case Studies
• Foreword
• Preface
• Disclaimer
• Acknowledgements
• About the Author
• Introduction
• I Understanding the Framework of Performing a Transition to IFRS-Based Financial Reporting
• II Planning and Implementing a Transition Project
• III Theway Forward – Developments in Selected Countries
• Appendix 1: IASB Standards
• Appendix 2: Useful Reference Material and Further Reading
• Appendix 3: Summary of IFRS Transition Planning Considerations
• Bibliography
• Index
• End User License Agreement