International accounting standards: from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Amsterdam [u.a.]
Elsevier [u.a.]
2007
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis Klappentext |
| Beschreibung: | 256 S. |
| ISBN: | 0750682035 9780750682039 |
Internformat
MARC
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| 264 | 1 | |a Amsterdam [u.a.] |b Elsevier [u.a.] |c 2007 | |
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Datensatz im Suchindex
| _version_ | 1804137207734206464 |
|---|---|
| adam_text | Contents
Introduction
xi
Harmonization
-
The Story So Far
1
A long winding road
3
2005 —
The year when the accounting world would
change forever
5
The
EU was
not alone
7
Convergence with US
GAAP
7
Finance directors beware
8
Let us not lose sight of the benefits
9
Key Facts
9
2
The Mechanics of Transition
11
Which UK companies have had to make the
transition to IFRS?
13
The small company conundrum
15
First-time adoption: The basics
17
Key Facts
20
3
The Conceptual Framework
21
The Christmas tree approach
23
Key Facts
26
4
Presentation
-
The Big Picture
27
What to expect in financial statements prepared
under IFRS
29
Key Facts
30
Presentation
-
The Balance Sheet
31
Setting expectations
33
Illustrations
34
Key differences
38
Analytical consequences
40
Main sources of guidance
40
Key Facts
40
6
Presentation
-
The Performance Statement
41
Setting expectations
43
Illustrations
43
Key differences
45
Dealing with the unusual
46
Discontinued operations
47
Analytical consequences
54
Main sources of guidance
56
Key Facts
56
7
Presentation
-
The Cash Flow Statement
57
Setting expectations
59
Illustrations
59
What is cash?
62
Cash flow classification
63
Is a cash flow statement always required?
64
Treasury management
64
Main sources of guidance
68
Key Facts
68
8
Presentation
-
Other Primary Statements
and Associated Disclosures
71
Setting expectations
73
Illustrations
74
A closer look at UK
GAAP
76
Key differences
78
The historic costs note
79
Main sources of guidance
80
Key Facts
81
9
Presentation
-
Related Parties and
Segmental
Disclosures
83
Setting expectations
85
Related party definitions
85
Materiality
87
Related party disclosures
88
The scope of
segmental
reporting
90
What is a segment?
91
Segmental
disclosures
94
Illustrations of
segmental
reporting
96
The future
109
Main sources of guidance
109
Key Facts
109
10
Tangible Non-current Assets
111
Setting expectations
113
Depreciation
113
Revaluation
114
Capitalization of borrowing costs
116
Government grants
117
Investment properties
118
Main sources of guidance
122
Key Facts
122
11
Intangible Assets
123
Setting expectations
125
Goodwill
125
Other intangibles
129
Research and development
130
Illustration of IAS
GAAP
132
Main sources of guidance
135
Key Facts
136
12
Asset Impairment
137
Setting expectations
139
Grouping assets and impairment allocation
140
Value in use
-
discount rates
141
Value in use
-
look-back tests
142
Reversal of impairment
142
Main sources of guidance
142
Key Facts
143
13
Leasing
145
Setting expectations
147
Determining lease classification
150
Land and building issues
151
Operating lease disclosures
151
Allocation of finance costs
153
Main sources of guidance
153
Key Facts
154
14
Stock
and Long-term Contracts
155
Setting expectations
157
What s in a name?
157
Reduced disclosure
158
Main sources of guidance
159
Key Facts
159
15
Taxation
161
Setting expectations
163
FRS
19
snapshot
163
IAS
12 -
Temporary differences instead of timing
differences
164
Discounting
165
Intragroup transactions
166
Deferred tax assets
166
Disclosure
167
Main sources of guidance
168
Key Facts
168
16
Retirement Benefits
171
Setting expectations
173
Accounting for actuarial gains and losses
175
Valuing scheme assets
179
Presentation
180
IAS
19 -
A broader emit
180
Main sources of guidance
181
Key Facts
181
17
Revenue Recognition
183
Setting expectations
185
IAS
18 -
a brief synopsis
185
Main sources of guidance
186
Key Facts
186
18
Group Accounts
-
Acquisition Accounting
187
Setting expectations
189
What is a subsidiary?
189
Exemptions from the requirement to produce group
accounts
190
Excluded subsidiaries
191
Non-coterminous year ends
192
Special
purpose entities
193
Distributions out of pre-acquisition profits
193
Disclosure
194
Do not forget those goodwill differences
198
Main sources of guidance
199
Key Facts
199
19
Group Accounts
-
Associates
201
Setting expectations
203
Defining an associated undertaking
203
The use of equity accounting
203
The cost method
204
Consequences of a poorly performing associate
205
Presentation
205
Main sources of guidance
208
Key Facts
209
20
Group Accounts
-
Joint Ventures
211
Setting expectations
213
Accounting for a joint venture
214
Déjà vu
217
Main sources of guidance
218
Key Facts
218
21
Group Accounts
-
Merger Accounting: The
End of the Road
219
Setting expectations
221
When can merger accounting be used in
the UK?
221
Key differences compared to acquisition
accounting
222
Main sources of guidance
223
Key Facts
223
22
Narrowing the Divide
-
UK
GAAP
Goes
International
225
Setting expectations
227
Share-based payment
228
Events after the balance-sheet date
232
Earnings per share
235
Foreign currency translation
237
Hyperinflationary
economies
241
Financial instruments
241
Main sources of guidance
249
Key Facts
250
23
Flicking the Switch: First-time Adoption
253
Setting expectations
255
Additional disclosures
255
Exemptions
264
Main sources of guidance
265
Key facts
265
Index
267
This handbook is your quick reference to International Accounting Standards and is
designed for all those who interact with financial information, and need an accelerated
route to understanding the key principles of international accounting rules.
•
Understand the key differences between UK accounting standards and the
international equivalents
•
Know the differences in terminology and layout
•
Appreciate the consequences for financial indicators and the decision
making process
Tables, diagrams and flow charts are used extensively throughout to ensure that
information is easily understood and quickly assimilated. Consequences for non-
accounting functions of your business are clearly highlighted, to give you further
insights into how International Accounting Standards impinge on your business.
All companies, both large and small, are affected by the move towards International
Accounting Standards. Even those not making the transition themselves will feel the
impact in numerous ways, e.g. large suppliers and customers will be using international
rules and UK
GAAP
is progressively migrating to international equivalents.
This book is vital reading for all members of the management team, and acts as a quick
route map to assist you in tackling issues as they are encountered. Members of the
finance and accounting team will find it a practical summary of all the big concerns
allowing relevant questions to be raised with auditors and other professionals
interested in the governance of the business.
|
| adam_txt |
Contents
Introduction
xi
Harmonization
-
The Story So Far
1
A long winding road
3
2005 —
The year when the accounting world would
change forever
5
The
EU was
not alone
7
Convergence with US
GAAP
7
Finance directors beware
8
Let us not lose sight of the benefits
9
Key Facts
9
2
The Mechanics of Transition
11
Which UK companies have had to make the
transition to IFRS?
13
The small company conundrum
15
First-time adoption: The basics
17
Key Facts
20
3
The Conceptual Framework
21
The Christmas tree approach
23
Key Facts
26
4
Presentation
-
The Big Picture
27
What to expect in financial statements prepared
under IFRS
29
Key Facts
30
Presentation
-
The Balance Sheet
31
Setting expectations
33
Illustrations
34
Key differences
38
Analytical consequences
40
Main sources of guidance
40
Key Facts
40
6
Presentation
-
The Performance Statement
41
Setting expectations
43
Illustrations
43
Key differences
45
Dealing with the unusual
46
Discontinued operations
47
Analytical consequences
54
Main sources of guidance
56
Key Facts
56
7
Presentation
-
The Cash Flow Statement
57
Setting expectations
59
Illustrations
59
What is cash?
62
Cash flow classification
63
Is a cash flow statement always required?
64
Treasury management
64
Main sources of guidance
68
Key Facts
68
8
Presentation
-
Other Primary Statements
and Associated Disclosures
71
Setting expectations
73
Illustrations
74
A closer look at UK
GAAP
76
Key differences
78
The historic costs note
79
Main sources of guidance
80
Key Facts
81
9
Presentation
-
Related Parties and
Segmental
Disclosures
83
Setting expectations
85
Related party definitions
85
Materiality
87
Related party disclosures
88
The scope of
segmental
reporting
90
What is a segment?
91
Segmental
disclosures
94
Illustrations of
segmental
reporting
96
The future
109
Main sources of guidance
109
Key Facts
109
10
Tangible Non-current Assets
111
Setting expectations
113
Depreciation
113
Revaluation
114
Capitalization of borrowing costs
116
Government grants
117
Investment properties
118
Main sources of guidance
122
Key Facts
122
11
Intangible Assets
123
Setting expectations
125
Goodwill
125
Other intangibles
129
Research and development
130
Illustration of IAS
GAAP
132
Main sources of guidance
135
Key Facts
136
12
Asset Impairment
137
Setting expectations
139
Grouping assets and impairment allocation
140
Value in use
-
discount rates
141
Value in use
-
look-back tests
142
Reversal of impairment
142
Main sources of guidance
142
Key Facts
143
13
Leasing
145
Setting expectations
147
Determining lease classification
150
Land and building issues
151
Operating lease disclosures
151
Allocation of finance costs
153
Main sources of guidance
153
Key Facts
154
14
Stock
and Long-term Contracts
155
Setting expectations
157
What's in a name?
157
Reduced disclosure
158
Main sources of guidance
159
Key Facts
159
15
Taxation
161
Setting expectations
163
FRS
19
snapshot
163
IAS
12 -
Temporary differences instead of timing
differences
164
Discounting
165
Intragroup transactions
166
Deferred tax assets
166
Disclosure
167
Main sources of guidance
168
Key Facts
168
16
Retirement Benefits
171
Setting expectations
173
Accounting for actuarial gains and losses
175
Valuing scheme assets
179
Presentation
180
IAS
19 -
A broader emit
180
Main sources of guidance
181
Key Facts
181
17
Revenue Recognition
183
Setting expectations
185
IAS
18 -
a brief synopsis
185
Main sources of guidance
186
Key Facts
186
18
Group Accounts
-
Acquisition Accounting
187
Setting expectations
189
What is a subsidiary?
189
Exemptions from the requirement to produce group
accounts
190
Excluded subsidiaries
191
Non-coterminous year ends
192
Special
purpose entities
193
Distributions out of pre-acquisition profits
193
Disclosure
194
Do not forget those goodwill differences
198
Main sources of guidance
199
Key Facts
199
19
Group Accounts
-
Associates
201
Setting expectations
203
Defining an associated undertaking
203
The use of equity accounting
203
The cost method
204
Consequences of a poorly performing associate
205
Presentation
205
Main sources of guidance
208
Key Facts
209
20
Group Accounts
-
Joint Ventures
211
Setting expectations
213
Accounting for a joint venture
214
Déjà vu
217
Main sources of guidance
218
Key Facts
218
21
Group Accounts
-
Merger Accounting: The
End of the Road
219
Setting expectations
221
When can merger accounting be used in
the UK?
221
Key differences compared to acquisition
accounting
222
Main sources of guidance
223
Key Facts
223
22
Narrowing the Divide
-
UK
GAAP
Goes
International
225
Setting expectations
227
Share-based payment
228
Events after the balance-sheet date
232
Earnings per share
235
Foreign currency translation
237
Hyperinflationary
economies
241
Financial instruments
241
Main sources of guidance
249
Key Facts
250
23
Flicking the Switch: First-time Adoption
253
Setting expectations
255
Additional disclosures
255
Exemptions
264
Main sources of guidance
265
Key facts
265
Index
267
This handbook is your quick reference to International Accounting Standards and is
designed for all those who interact with financial information, and need an accelerated
route to understanding the key principles of international accounting rules.
•
Understand the key differences between UK accounting standards and the
international equivalents
•
Know the differences in terminology and layout
•
Appreciate the consequences for financial indicators and the decision
making process
Tables, diagrams and flow charts are used extensively throughout to ensure that
information is easily understood and quickly assimilated. Consequences for non-
accounting functions of your business are clearly highlighted, to give you further
insights into how International Accounting Standards impinge on your business.
All companies, both large and small, are affected by the move towards International
Accounting Standards. Even those not making the transition themselves will feel the
impact in numerous ways, e.g. large suppliers and customers will be using international
rules and UK
GAAP
is progressively migrating to international equivalents.
This book is vital reading for all members of the management team, and acts as a quick
route map to assist you in tackling issues as they are encountered. Members of the
finance and accounting team will find it a practical summary of all the big concerns
allowing relevant questions to be raised with auditors and other professionals
interested in the governance of the business. |
| any_adam_object | 1 |
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| bvnumber | BV022960898 |
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| ctrlnum | (OCoLC)633489865 (DE-599)BVBBV022960898 |
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| discipline_str_mv | Wirtschaftswissenschaften |
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| id | DE-604.BV022960898 |
| illustrated | Not Illustrated |
| index_date | 2024-07-02T19:04:41Z |
| indexdate | 2024-07-09T21:08:38Z |
| institution | BVB |
| isbn | 0750682035 9780750682039 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016165273 |
| oclc_num | 633489865 |
| open_access_boolean | |
| owner | DE-739 DE-473 DE-BY-UBG |
| owner_facet | DE-739 DE-473 DE-BY-UBG |
| physical | 256 S. |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | Elsevier [u.a.] |
| record_format | marc |
| spelling | Rodgers, Paul Verfasser aut International accounting standards from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules Paul Rodgers Amsterdam [u.a.] Elsevier [u.a.] 2007 256 S. txt rdacontent n rdamedia nc rdacarrier International Accounting Standards (DE-588)4367663-7 gnd rswk-swf International Accounting Standards (DE-588)4367663-7 s DE-604 Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016165273&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016165273&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Rodgers, Paul International accounting standards from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules International Accounting Standards (DE-588)4367663-7 gnd |
| subject_GND | (DE-588)4367663-7 |
| title | International accounting standards from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules |
| title_auth | International accounting standards from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules |
| title_exact_search | International accounting standards from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules |
| title_exact_search_txtP | International accounting standards from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules |
| title_full | International accounting standards from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules Paul Rodgers |
| title_fullStr | International accounting standards from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules Paul Rodgers |
| title_full_unstemmed | International accounting standards from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules Paul Rodgers |
| title_short | International accounting standards |
| title_sort | international accounting standards from uk standards to ias an accelerated route to understanding the key principles of international accounting rules |
| title_sub | from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules |
| topic | International Accounting Standards (DE-588)4367663-7 gnd |
| topic_facet | International Accounting Standards |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016165273&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016165273&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
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