Overview

The pace of development in financial reporting has accelerated sharply during the last few years, especially since the advent of the Accounting Standards Board (ASB) in 1990. The pace of progress shows no sign of abating, and it has become increasingly difficult for both the student and the professionally qualified accountant to keep abreast of the changes.

International Financial Reporting Standards in Depth examines the standards in a unique and detailed way, and has been written with a broad readership in mind. Each chapter includes a brief summary of the relevant accounting standards in force, together with the proposed changes contained within outstanding exposure drafts. This is followed by a selection of questions which attempt to cover most of the major problem areas that students are likely to encounter. The questions have been carefully selected from two of the major accounting bodies in the United Kingdom CIMA and ACCA. A number of illustrative examples taken from published accounts are included. These mainly cover the disclosure required in published accounts.

The questions in the book are reproduced as they were originally set in the professional examinations. The solutions, however which are supplied in a companion text to this volume are based on the most recent standards, which may not have been in existence at the time of devising of the question.

The book commences with an introduction to the standard-setting process. As well as looking at the development of the IASB it examines the Framework for...