Table of Contents

Author Bios vii


1 Introduction to International Financial Reporting Standards 1


2 Conceptual Framework 15


3 Presentation of Financial Statements 41


4 Statement of Financial Position 63


5 Statements of Profit or Loss and Other Comprehensive Income, and Changes in Equity 77


6 Statement of Cash Flows 99


7 Accounting Policies, Changes in Accounting Estimates and Errors 117


8 Inventories 139


9 Property, Plant and Equipment 157


10 Borrowing Costs 187


11 Intangible Assets 195


12 Investment Property 225


13 Impairment of Assets and Non-Current Assets Held for Sale 239


14 Consolidations, Joint Arrangements, Associates and Separate Financial Statements 263


15 Business Combinations 315


16 Shareholders’ Equity 367


17 Share-Based Payment 389


18 Current Liabilities, Provisions, Contingencies and Events After the Reporting Period 423


19 Employee Benefits 455


20 Revenue from Contracts with Customers 479


21 Government Grants 519


22 Leases 533


23 Foreign Currency 563


24 Financial Instruments 595


25 Fair Value 723


26 Income Taxes 753


27 Earnings Per Share 791


28 Operating Segments 809


29 Related Party Disclosures 829


30 Accounting and Reporting by Retirement Benefit Plans 843


31 Agriculture 851


32 Extractive Industries 867


33 Accounting for Insurance Contracts 877


34 Interim Financial Reporting 899


35 Hyperinflation 919


36 First-Time Adoption of International Financial Reporting Standards 929


Index 961

About the Author

PKF International is a member of the Forum of Firms – an organisation dedicated to consistent and high-quality standards of financial reporting and auditing practices worldwide. www.pkf.com.
PKF International Limited administers a family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms. All rights reserved.