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The easy way to get a grip on International Reporting Standards IFRS For Dummies is your complete introduction to IFRS and international accounting and balancing standards. Combining all the facts needed to understand this complex subject with useful examples, this easy-to-read guide will have you on top of IFRS in no time. In plain English, it helps you make sense of IFRS and your understanding of: what they are and where they apply; how to adopt IFRS for the first time; how IFRS affects the key components of your financial statements; how to disclose information in financial statements; and much more. Covers what to do if you're applying IFRS for the first time Explains complicated material in plain English Helps you make sense of this principles-based set of standards that establish broad rules for financial reporting If you're an accountant, student, or trainee in need of accessible information on IFRS, this hands-on, friendly guide has you covered. About The Author Steve Collings is Audit and Technical Director for Leavitt Walmsley Associates Ltd. Steve has written extensively for AccountingWEB.co.uk and is the author of Interpretation and Application of International Standards on Auditing, also published by Wiley. In 2011, Steve was named Accounting Technician of the Year at the British Accountancy Awards. Table Of Contents Introduction Part I: Concepts and Basic Standards Chapter 1: Introducing IFRS Chapter 2: Getting to Grips with Some Basic IFRS Chapter 3: Taking the Plunge: Adopting IFRS for the First Time Part II: Looking at the Key Components of Financial Statements Chapter 4: Accounting for Assets Chapter 5: Looking at Assets You Don’t See Every Day Chapter 6: Accounting for Liabilities Chapter 7: Examining Liabilities You Don't See Every Day Chapter 8: Accounting for Revenue Chapter 9: Accounting for Equity Part III: Consolidating and Investing Chapter 10: Getting Your Head Around the Basics of Consolidation Chapter 11: Getting to Grips with More Complex Consolidation Issues Chapter 12: Tackling Associates Chapter 13: Juggling Joint Ventures Part IV: Disclosing Information in the Financial Statements Chapter 14: Reporting Related Parties Chapter 15: Skilfully Segmenting Information Chapter 16: Easing into Earnings per Share Part V: The Part of Tens Chapter 17: Ten Pitfalls to Avoid Chapter 18: Ten Disclosure Requirements Under IFRS Chapter 19: Ten Future Developments in IFRS Part VI: Appendixes Appendix A: Sources of Guidance Appendix B: IFRS for SMEs Appendix C: Glossary Index