SECTION IX: INDUSTRY-SPECIFIC STANDARDS AND STANDARDS APPLICABLE IN SPECIFIC SITUATIONS 427
Chapter 30: Accounting and Reporting by Retirement Benefit Plans (IAS 26) 429
Chapter 31: Financial Reporting in Hyperinflationary Economies (IAS 29) 433
Chapter 32: First-Time Adoption of International Financial Reporting Standards (IFRS 1) 437
Chapter 33: Insurance Contracts (IFRS 4) 445
Chapter 34: Exploration for and Evaluation of Mineral Resources (IFRS 6) 465
SECTION X: OTHER GENERAL STANDARDS 489
Chapter 35: Inventories (IAS 2) 491
Chapter 36: Income Taxes (IAS 12) 505
Chapter 37: Leases (IAS 17) 541
Chapter 38: The Effects of Changes in Foreign Exchange Rates (IAS 21) 553
Chapter 39: Related Party Disclosures (IAS 24) 563
APPENDICES: STANDARDS ISSUED BUT NOT EFFECTIVE IMMEDIATELY WITH EARLIER APPLICATION PERMISSIBLE 577
Appendix A: Financial Instruments (IFRS 9) 579
Appendix B: New IFRS Issued and Amendments to Existing Standards Effective in 2011 and Later Years 587
APPENDICES: COMPARISON OF IFRS TO OTHER ACCOUNTING STANDARDS 599
Appendix C: Comparison of IFRS with US GAAP 601
Appendix D: Comparison of IFRS with India Accounting Standards 633
Appendix E: Comparison of IFRS with China GAAP 707
Index 783
Wiley International Financial Reporting Trends provides copious examples of footnote disclosures and financial statement formats, carefully culled from the world's leading international companies ("Global 500") that are already compliant with IFRS and report under IFRS standards promulgated by the International Accounting Standards Board, the IASB. Arranged topically, this book is a quick source of reference to find answers to issues of interest to financial statement preparers. It provides hundreds of illustrations taken from financial statements prepared under IFRS by global conglomerates thereby helping preparers and users of financial statements to expeditiously obtain examples of footnote disclosures and financial statements presented under these Standards which are popularly referred to as "principles-based" standards (as opposed to "rules-based" standards). Additionally, Wiley International Financial Reporting Trends contains comparisons of IFRS to US GAAP, Indian GAAP, and Chinese GAAP, making it a truly global reference resource.
ABBAS ALI MIRZA, CPA, ACA, AICWA, is a Partner inDeloitte & Touche, Dubai, UAE, and a member of the firm'sregional Assurance and Advisory Committee. Mirza is Chairman of theAuditors Group of the Dubai Chamber of Commerce and Industry andwas the chairman of the Intergovernmental Working Group of Expertson International Standards of Accounting and Reporting (ISAR) atthe United Nations.
NANDAKUMAR ANKARATH is a Fellow Member of the Instituteof Chartered Accountants of India and a Senior Partner with MooreStephens, Chartered Accountants, United Arab Emirates. Nandakumarhas over twenty-five years of post-qualification experience inauditing, accounting, financial, and management consultancy invarious business environments in India, Bahrain, and the UnitedArab Emirates. He has served as a member of the Committee onAccounting Standards for Local Bodies formed by the governing bodyof the Institute of Chartered Accountants of India to formulateaccounting standards for local, autonomous, and nonprofitorganizations in India. He is also the coauthor of UnderstandingIFRS Fundamentals: International Financial Reporting Standards,published by Wiley.
