Steven M. Bragg - IFRS Guidebook: 2019 Edition

The accounting by businesses throughout the world is largely governed by International Financial Reporting Standards (IFRS). The source documents for IFRS cover several thousand pages, so their heft alone makes them difficult to research. The IFRS Guidebooklightens the research chore by presenting the essential elements of IFRS in a single volume, with an emphasis on key accounting requirements and disclosures. These essential elements are closely supported by several hundred examples and tips.

Following an introduction to IFRS in Chapter 1, the Guidebookcovers in Chapters 2 through 9 all aspects of the presentation of financial statements, including accounting changes and error corrections, earnings per share, interim reporting, and operating segments. We then move on to the accounting for assets, liabilities, and equity in Chapters 10 through 19, which encompasses investments in other entities, inventories, fixed assets, asset impairment, assets held for sale, provisions, and contingent liabilities. Chapters 20 through 23 address a number of income statement topics revenue recognition, employee benefits, share-based payments, income taxes, and more. Chapters 24 through 32 delve into a number of major transaction types, including business combinations, fair value measurements, foreign currency, leases, subsequent events, and insurance contracts. Finally, Chapters 33 through 38 describe industry-specific accounting for agriculture, construction, mineral resources, and more. The chapters include tips, podcast references, and a variety of illustrations.

You can find the answers to many accounting questions in the Guidebookthat might otherwise require extensive research in the original IFRS source documents, such as:

What is the proper presentation of a balance sheet?

What does an indirect method statement of cash flows look like?

How do I calculate diluted earnings per share?

What information must be included in interim financial statements?

How do I use a cost layering system to account for inventory?

What is the process for testing intangible assets for impairment?

How do I account for fixed assets acquired in a business combination?

When can I recognize revenue?

How do I account for a defined benefit pension plan?

How do I account for a business combination?

The IFRS Guidebookis designed for both professionals and students. Professionals can use it as a handy reference tool that reduces research time, while students will find that it clarifies many of the more arcane accounting topics.

Centennial, Colorado
November 2018