具体描述
Wiley IFRS 2008, Book and CD-ROM Set A Comprehensive Guide to International Financial Reporting Standards (IFRS) as Applicable in 2008 This essential resource provides an in-depth analysis and practical application guide for the International Financial Reporting Standards (IFRS) framework that was effective and operative during the 2008 financial reporting period. It serves as an indispensable reference for finance professionals, auditors, academics, and financial statement preparers navigating the complexities of global accounting convergence. Core Content Focus: This publication meticulously details the full set of IFRS standards, interpretations, and supporting guidance that companies were required to apply when preparing their 2008 financial statements. The structure is designed not merely to present the standards but to facilitate their proper implementation and interpretation within the context of the reporting environment of that year. Section I: The Foundation of IFRS – Conceptual Framework and Presentation Standards This section lays the groundwork for understanding the philosophy underpinning IFRS, focusing on the structure, scope, and application requirements of the standards as they stood in 2008. The Conceptual Framework for Financial Reporting: A thorough examination of the framework, including the objectives of general purpose financial reporting, the qualitative characteristics of useful financial information, the definitions of assets, liabilities, equity, income, and expense, and the principles of recognition and measurement that govern financial statements. Emphasis is placed on the application of the framework in resolving accounting treatments where specific guidance might be absent or ambiguous. IAS 1: Presentation of Financial Statements: Detailed guidance on the structure and content of a complete set of financial statements, including the statement of financial position (balance sheet), statement of comprehensive income (income statement), statement of changes in equity, and the statement of cash flows. Specific attention is given to minimum line items required for presentation and the concept of materiality and aggregation. IAS 7: Statement of Cash Flows: Comprehensive instructions on the preparation of the cash flow statement, classifying cash flows into operating, investing, and financing activities. The application of both the direct and indirect methods for the operating section is explored with practical examples relevant to the 2008 regulatory landscape. IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors: A critical review of the principles governing the selection and application of accounting policies, the necessary treatment for changes in accounting estimates, and the retrospective or prospective application required for the correction of prior period errors. Section II: Measurement and Recognition – Assets and Liabilities This major section delves into the specific recognition criteria, measurement bases, and subsequent accounting treatments for the primary elements found on the statement of financial position. Inventories (IAS 2): Detailed exploration of cost formulas (FIFO, weighted average) permissible under IFRS, and the crucial requirement to state inventory at the lower of cost and net realizable value (NRV). Guidance covers the recognition of write-downs and reversals in the context of 2008 market conditions. Property, Plant and Equipment (PP&E) (IAS 16): Comprehensive coverage of initial recognition, measurement models (cost model vs. revaluation model), subsequent measurement, depreciation methodologies (including component depreciation), and the recognition and derecognition of assets. Investment Property (IAS 40): Differentiation between PP&E and Investment Property, and the application of the measurement models available for assets held for rental income or capital appreciation. Intangible Assets (IAS 38): Strict guidance on the recognition criteria for internally generated versus acquired intangible assets. Detailed analysis of the amortization period, impairment testing requirements, and the specific rules concerning research and development costs. Impairment of Assets (IAS 36): The cornerstone of asset valuation. This chapter meticulously details the 'recoverable amount' calculation, including the use of value-in-use models (Discounted Cash Flow analysis) and fair value less costs to sell. It covers the impairment testing process for both individual assets and Cash-Generating Units (CGUs). Leases (IAS 17): A detailed breakdown of the distinction between finance leases and operating leases, including the necessary criteria, accounting entries for both lessees and lessors, and the required disclosures under the standard as it existed in 2008. Revenue Recognition (IAS 18): A primary focus on the principles governing the timing and measurement of revenue arising from the sale of goods and the rendering of services. This includes specific industry guidance where applicable under the 2008 iteration of the standard. Provisions, Contingent Liabilities and Contingent Assets (IAS 37): Strict rules on when liabilities (provisions) must be recognized, emphasizing the 'probable outflow' threshold and the appropriate discounting methodology for long-term obligations. Section III: Specialized Reporting Areas This part addresses complex accounting topics that require specialized knowledge for accurate reporting. Business Combinations (IFRS 3 - Pre-2008 Revision): This section addresses the accounting for acquisitions as mandated by the standard effective in 2008, including the identification of goodwill, the treatment of purchase price allocation, and the required disclosures surrounding acquisitions completed during the reporting period. Employee Benefits (IAS 19): Extensive coverage of short-term, post-employment (defined contribution vs. defined benefit), and other long-term employee benefits. Particular emphasis is placed on the actuarial assumptions and measurement required for defined benefit plans. Financial Instruments: Recognition and Measurement (IAS 32 & IAS 39): This provides crucial, detailed instruction on the classification of financial assets and liabilities (e.g., loans and receivables, held-to-maturity, available-for-sale), hedge accounting requirements, and the complex rules surrounding the measurement of fair value, especially for instruments designated as hedging instruments. Share-based Payment (IFRS 2): Guidance on measuring equity-settled and cash-settled transactions, including the valuation techniques required for determining the fair value of share options or vesting conditions. Income Taxes (IAS 12): A thorough treatment of current and deferred tax assets and liabilities, focusing on the differences between accounting profit and taxable profit, and the recognition and measurement of deferred tax effects arising from temporary differences. The Accompanying CD-ROM Resource The integrated CD-ROM complements the textual analysis by providing practical tools essential for 2008 compliance: Full Text of Standards and Interpretations: Direct, searchable access to the official text of all relevant IFRS standards, IAS, and interpretations (IFRICs/SIC) effective for the 2008 reporting year, ensuring users are working from the authoritative source material. Practical Application Checklists: Detailed, step-by-step checklists designed to guide the user through complex recognition and measurement processes, ensuring all disclosure requirements specific to the 2008 standards are met. Case Studies and Illustrative Examples: Numerous worked examples demonstrating the journal entries, statement presentations, and disclosures required under specific standards, utilizing scenarios typical of the business environment encountered in 2008. Target Audience Value: This volume is curated for those requiring absolute precision in applying the standards active during that fiscal cycle. It bridges the gap between theoretical accounting principles and real-world financial reporting execution, making it an indispensable tool for technical accounting teams, external audit staff finalizing 2008 audits, and advanced accounting students studying the historical context of global standard convergence.
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