IFRS Now – In the light of US GAAP and Finnish practices

Ilmestynyt 9/2013
Pontus Troberg

75,00 € (+ alv 10 %)

Toimitusaika 3–5 arkipäivää (ks. toimitusehdot)
Toimituskulut 8,00 €/tilaus (+ alv 10 %)

Kuvaus

IFRS reporting is mandatory for EU listed companies but it also affects other than listed companies through conforming national legislation and through IFRS for small and medium-sized enterprises (SMEs).

IFRS Now focuses on the essence of the standards explaining their logic, shortcomings including Finnish practices and possible differences from American standards (US GAAP). The book also portrays the coming development of IFRS and the oversight of the actual practice of IFRS reporting.

The book is intended for accounting students as well as company decision makers who are responsible for the IFRS financial statements, but who do not need to familiarize themselves with all IFRS reporting details (CEO, CFO, audit committee members). The book has an English–Finnish vocabulary.

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Englanninkielinen IFRS Now – In the light of US GAAP and Finnish practices tarjoaa hyvän pohjan ymmärtää IFRS-raportoinnin ja -standardien lähtökohdat, tavoitteet ja perusperiaatteet. Kirja keskittyy IFRS-raportoinnin kokonaisvaltaiseen ymmärtämiseen. Lukuisten yritysesimerkkien avulla IFRS-standardien monimutkaisemmatkin sisällöt avautuvat lukijalle.

IFRS Now tarjoaa hyödyllistä tietoa yritysten päätöksentekijöille, jotka ovat vastuussa IFRS-tilinpäätöksistä. Se soveltuu erinomaisesti esimerkiksi toimitusjohtajille, talousjohtajille ja muille talousasioista yleisellä tasolla vastaaville johtajille. Myös hallituksen tarkastusvaliokunnan jäsenten on hyödyllistä tuntea IFRS-raportoinnin perusteet.

Teos on englanninkielinen, mutta keskeisten termien suomenkieliset vastineet esitetään tekstissä johdonmukaisesti. Kirjan lopusta löytyy kattava englanti–suomi-sanasto, josta on erityistä hyötyä toimittaessa suomenkielisessä liiketoimintaympäristössä.

Lisätiedot

228 sivua
ISBN 978-952-218-179-4
YKL 69.2

PREFACE

PART I Context of International Accounting

1 INTRODUCTION
1.1 Philosophy and Structure
1.2 Harmonization of Accounting Standards
1.2.1 Origin of national differences
1.2.2 Major players in international accounting standard-setting
1.3 International Accounting Standards Board
1.3.1 Structure
1.3.2 Objectives
1.4 Concepts and Principles of Financial Reporting
1.5 Summary

PART II Financial Statements and Valuation

2 FINANCIAL STATEMENTS
2.1 Other Comprehensive Income, Statement of Changes in Equity
2.2 Notes
2.3 Management Discussion and Analysis
2.4 Objective of Financial Statements and Users
2.5 Summary

3 BALANCE SHEET
3.1 Valuation Principles
3.2 Assets
3.2.1 Property, plant and equipment
3.2.1.1 Valuation
3.2.1.2 Depreciation and impairment
3.2.2 Intangible assets
3.2.2.1 Valuation
3.2.2.2 Amortization and impairment
3.2.3 Share investments
3.2.4 Investment property
3.2.5 Biological assets (forest)
3.2.6 Inventories
3.2.7 Cash and cash equivalents
3.2.8 Summary

3.3 Liabilities
3.3.1 Provisions and contingent liabilities
3.3.2 Employee benefits
3.3.3 Income taxes
3.3.3.1 Deferred tax liability
3.3.3.2 Deferred tax assets
3.3.3.3 Tax losses (loss carryforward)
3.3.3.4 Influence of Taxation on Financial Reporting
3.3.4 Summary

3.4 Owners’ Equity
3.4.1 Nature and concepts
3.4.2 Treasury shares
3.4.3 ‘Reserves’ or Appropriations
3.4.4 Statement of changes in equity
3.4.5 Classification of financial instruments as liabilities or equity
3.4.6 Summary

4 STATEMENT OF COMPREHENSIVE INCOME

4.1 Composition of the Income Statement
4.2 Percentage-of-Completion Method
4.3 New Revenue Recognition Standard
4.4 Earnings Per Share (EPS)
4.5 Pro Forma
4.6 Summary

5 CASH FLOW STATEMENT

5.1 Role of the Cash Flow Statement
5.2 Operating Activities
5.3 Investing Activities
5.4 Financing Activities
5.5 Interest, Dividends and Income Taxes
5.6 Summary

PART III Group Accounting

6 BUSINESS COMBINATIONS

6.1 Control
6.2 Acquisition Method and ‘Goodwill’
6.2.1 ‘Goodwill’ concept
6.2.2 Identifying and measuring intangible assets
6.2.3 Non-controlling interest and goodwill
6.2.4 Amortization and impairment of intangible assets
6.2.5 Impairment test of goodwill
6.2.6 Criticism
6.3 Exchange Rates and Foreign Operations (Subsidiaries)
6.4 Associated Companies
6.5 Joint Arrangements
6.6 Summary

7 SEGMENT REPORTING

7.1 Background of Latest Reforms – Management Approach
7.2 Operating Segments
7.3 Enterprise-Wide Disclosures
7.4 Summary

PART IV R&D, Leasing, Financial Instruments & Share-Based Payments

8 RESEARCH AND DEVELOPMENT COSTS

8.1 IFRS and US GAAP
8.2 Disclosing Additional Information
8.3 National GAAP
8.4 Summary

9 LEASING

9.1 Operating Leases and Finance Leases
9.1.1 Operating leases
9.1.2 Finance (capital) lease
9.2 Taxation and Leasing
9.3 Expected Development
9.4 Summary

10 FINANCIAL INSTRUMENTS

10.1 Primary Instruments and Derivatives
10.2 Classification and Recording of Financial Instruments
10.3 Hedge Accounting
10.4 Fair Value
10.5 Summary

11 SHARE-BASED PAYMENTS

11.1 History and Controversy of Share-Based Payments
11.2 Accounting for Share-Based Payments
11.3 Summary

PART V Governance and Auditing

12 MANAGEMENT COMMENTARY (MD&A)

12.1 Role of Management Commentary
12.2 Content of Management Commentary
12.3 Risk
12.4 Summary

13 CORPORATE GOVERNANCE

13.1 Need for Corporate Governance
13.2 American Regulation
13.2.1 New York Stock Exchange
13.2.2 Sarbanes-Oxley Act
13.3 EU
13.4 Finland
13.5 GRI
13.6 Ethics, Institutional Investors
13.7 Related Party Disclosures
13.8 Summary

14 SUSTAINABILITY REPORTING

14.1 Environmental and Social Reporting
14.2 GRI
14.3 Summary

15 AUDITING AND OVERSIGHT

15.1 International Auditing Standards
15.2 The Objective of Auditing
15.3 The Content and Classification of Audit Reports
15.4 Going Concern and Fraud
15.5 Regulatory Oversight
15.6 Summary

16 IFRS DIVERSITY, QUESTIONABLE REPORTING AND FUTURE DEVELOPMENT

16.1 Diversity in IFRS Practices
16.2 Questionable Reporting Practices
16.3 Future Development
16.4 Summary

REFERENCES

APPENDIX

GLOSSARY OF ABBREVIATIONS

ENGLISH – FINNISH VOCABULARY

INDEX