|In Insights into IFRS, the KPMG International Financial Reporting Group lays out an overview of|
the requirements of IFRSs and provides extensive interpretative and application guidance based on KPMG member firms’ in-depth experience working with clients on IFRS issues around the world.
Key selling points:
- Follows the structure of a set of financial statements and is cross-referenced extensively to the relevant standards and interpretations
- Emphasises the application of IFRSs in practice and provides the conclusions reached by the KPMG International Financial Reporting Group on many interpretative issues
- Provides real-life practical experience on the application and interpretation of IFRSs from around the world and includes many detailed examples to assist with the application and interpretation of IFRSs
- Based on standards in issue at 1 August 2008 that are mandatory for an annual period beginning on 1 January 2008
- Details the implications of standards and interpretations in issue at 1 August 2008 but not yet effective for annual periods beginning on 1 January 2008
- Highlights areas of IFRSs that may change as a result of the ongoing projects of the IASB and IFRIC
New for 2008/2009:
- This 5th Edition of Insights into IFRS focuses on the requirements for annual reporting periods beginning on 1 January 2008.
Includes new chapters on:
- Business combinations (based on the revised IFRS 3 - Business Combinations published in January 2008)
- Changes in equity (based on the revised IAS 1 Presentation of Financial Statements published in September 2007).
The new edition also:
- Provides you with updates based on real IFRS queries encountered by KPMG member firms in practice during the last year
- Incorporates all requirements that have become effective for annual periods beginning on 1 January 2008
- Details the impact of IFRSs published between 1 August 2007 and 1 August 2008, which are not yet effective for annual periods beginning on 1 January 2008 in the Forthcoming Requirements sections in each chapter.
The 5th Edition also addresses:
- Amended IAS 27 Consolidated and Separate Financial Statements (published in January 2008)
- Amendments to IAS 32 Financial Instruments: Presentation and IAS 1 Presentation of Financial Statements – Puttable Financial Instruments and Obligations Arising on Liquidation (published in February 2008)
- Amendment to IFRS 2 Share-based Payment – Vesting Conditions and Cancellations (published in January 2008)
- Provides a brief overview of current IASB projects relevant to each topic in the Future Developments sections, when significant changes to IFRSs in issue at 1 August 2008 are anticipated, for example, as a result of an exposure draft or discussion paper of the IASB.