Insights into IFRS: KPMG's Practical Guide to International Financial Reporting Standards 22ed (eBook)

Applying IFRS® Accounting Standards to real transactions and arrangements can be a significant challenge. Also, in times of heightened uncertainty investors and regulators are looking for clarity in companies’ annual reports, so companies should expect more scrutiny. Insights into IFRS can help. It is based on KPMG member firms’ experience of applying IFRS Accounting Standards around the world and provides guidance on many interpretative issues.

Key features:

• Practical guidance for preparing and interpreting financial statements
• Clear and insightful analysis of technical accounting issues
• Real-life examples illustrating practical application
• The latest thinking on IFRS Accounting Standards, including forthcoming requirements and future developments
• Additional appendices, including currently effective and forthcoming requirements, and IFRS Interpretations Committee’s agenda decisions

   

  The 22nd edition includes a new chapter on the forthcoming requirements in IFRS 18 Presentation and Disclosure in Financial statements, and provides new guidance on:

  • Pillar Two taxes
  • Disposals of emissions allowances
  • Impairment testing on non-current assets
  • Revenue from contracts with customers
  • Forthcoming requirements related to classification and measurement of financial instruments
  • Other emerging issues.

table of content

Background

General Issues

Statement of Financial Position

Statement of Profit or Loss and OCI

Special Topics

Fist-time adoption of IFRS Accounting Standards

Applying Financial Instruments Guidance - Introduction to Section 7

Financial Instruments

Insurance

Appendix I: List of standards and interpretations that comprise the currently effective requirements and the forthcoming requirements.

Appendix II: List of IFRIC agenda decisions referred to in this publication.

Appendix III: List of examples.

Appendix IV: Table of concordance showing how the guidance that was included in the 21st edition has moved.

Appendix V: Summary of the key changes made from the 21st edition.

Index