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<i>About the Authors vii</i> <p>1 Introduction to International Financial Reporting Standards 1</p> <p>2 Conceptual Framework 29</p> <p>3 Presentation of Financial Statements 39</p> <p>4 Statement of Financial Position 59</p> <p>5 Statements of Profit or Loss and Other Comprehensive Income,</p> <p>and Changes in Equity 75</p> <p>6 Statement of Cash Flows 95</p> <p>7 Accounting Policies, Changes in Accounting Estimates, and Errors 113</p> <p>8 Inventories 135</p> <p>9 Property, Plant, and Equipment 151</p> <p>10 Borrowing Costs 187</p> <p>11 Intangible Assets 195</p> <p>12 Investment Property 225</p> <p>13 Impairment and Noncurrent Assets Held for Sale 239</p> <p>14 Consolidations, Joint Arrangements, Associates,</p> <p>and Separate Financial Statements 261</p> <p>15 Business Combinations 317</p> <p>16 Shareholders’ Equity 371</p> <p>17 Share-Based Payment 397</p> <p>18 Current Liabilities, Provisions, Contingencies,</p> <p>and Events After the Reporting Period 435</p> <p>19 Employee Benefits 467</p> <p>20 Revenue Recognition, Including Construction Contracts 489</p> <p>21 Government Grants 527</p> <p>22 Leases 539</p> <p>23 Foreign Currency 593</p> <p>24 Financial Instruments 625</p> <p>25 Fair Value 749</p> <p>26 Income Taxes 775</p> <p>27 Earnings Per Share 815</p> <p>28 Operating Segments 833</p> <p>29 Related-Party Disclosures 851</p> <p>30 Accounting and Reporting by Retirement Benefit Plans 865</p> <p>31 Agriculture 873</p> <p>32 Extractive Industries 887</p> <p>33 Accounting for Insurance Contracts 897</p> <p>34 Interim Financial Reporting 909</p> <p>35 Inflation and Hyperinflation 931</p> <p>36First-Time Adoption of International Financial Reporting Standards 953</p> <p>Index 985</p>

<p><strong>PKF International Limited</strong> administers the PKF network of around 300 member firms and correspondents in 440 locations in around 125 countries, providing accounting and business advisory services.<br />PKF International member firms have a $2.68 billion aggregate fee income (year end June 2012) and the network is a member of the Forum of Firms - an organisation dedicated to consistent and high quality standards of financial reporting and auditing practices worldwide.<br />PKF member firms have service and sector specialists in their own marketplace, but also deliver an international service through their relationships with other network members.

<p><b>Your indispensable Guide to IFRS^® compliance</b></p> <p>International Financial Reporting Standards (IFRS^®) have received increased attention since such signal events as endorsements by the International Organization of Securities Commissions (IOSCO) in 2000, by the European Union in 2002 (mandating universal adoption by publicly held companies in 2005), and by the SEC (waiving reconciliation requirements for foreign private issuers using IFRS^® starting in 2007).</p> <p>With further refinements to IFRS^® by the International Accounting Standards Board (IASB) resulting in changes on a yearly basis, and given the now virtually unstoppable momentum worldwide to adopt (or, in some cases, adapt) IFRS^®, mastery of this knowledge is a necessity for all preparers of financial statements.</p> <p><i>Wiley IFRS^® 2015</i> provides a complete and up-to-date explanation of all IFRS^® requirements, coupled with examples of how to apply the rules in complex, real-world situations. It can be used to train accounting staff, and to serve as a reference guide during the implementation of IFRS^® and preparation of IFRS^®-based financial statements. <i>Wiley IFRS^® 2015</i> is equally valuable for preparers, auditors, and users of financial reports.</p> <p>Key concepts are illustrated throughout, using worked examples and selections from actual published financial statements. Also included are a comprehensive disclosure checklist and integrated discussions of major ongoing IASB projects that may have significant impact on readers' responsibilities over the coming year.</p> <p>PKF is a global network of legally independent firms bound together by a shared commitment to quality, integrity and the creation of clarity in a complex regulatory environment.</p> <p>With offices in 440 cities, we operate in 150 countries across 5 continents and specialise in providing high quality audit, accounting, tax, and business advisory services to international and domestic organisations in all our markets.</p> <p>PKF International member firms have an aggregate fee income of $2.52 billion, and the network is a member of the Forum of Firms—an organisation dedicated to consistent and high quality standards of financial reporting and auditing practices worldwide.</p>

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