International GAAP 2021

International GAAP 2021 is a detailed guide to interpreting and implementing International Financial Reporting Standards (IFRS). By setting IFRS in a relevant business context, it provides insights on how complex practical issues should be resolved in the real world of global financial reporting. This book is an essential tool for anyone applying, auditing, interpreting, regulating, studying or teaching IFRS.

Written by EY financial reporting professionals from around the world, this three-volume guide to reporting under IFRS provides a global perspective on the application of IFRS. The book explains complex technical accounting issues clearly by setting IFRS in a practical context with numerous worked examples and hundreds of illustrations from the published financial reports of major listed companies from around the world.

Volume 1 contains the following chapters and sections:

1.International GAAP

2.The IASB's Conceptual Framework

3.Presentation of financial statements and accounting policies

4.Non-current assets held for sale and discontinued operations

5.First-time adoption

6.Consolidated financial statements

7.Consolidation procedures and non-controlling interests

8.Separate and individual financial statements

9.Business combinations

10.Business combinations under common control

11.Investments in associates and joint ventures

12.Joint arrangements

13.Disclosure of interests in other entities

14.Fair value measurement

15.Foreign exchange

16.Hyperinflation

17.Intangible assets

18.Property, plant and equipment

19.Investment property

20.Impairment of fixed assets and goodwill

21.Capitalisation of borrowing costs

22.Inventories

Index of extracts from financial statements for all three volumes

Index of standards for all three volumes

Index for all three volumes

This book is printed on acid-free paper, responsibly manufactured from well-managed FSC-certified forests and other controlled sources.

This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, legal or other professional advice. Please refer to your advisors for specific advice.