An invaluable aid to companies and auditors involved in first-time adoption of the new SMEs standard
Applying the IFRS for SMEs provides expert insights and explanations of the International Financial Reporting Standards (IFRS) for small and medium enterprises (SMEs) issued by the International Accounting Standards Board (IASB). This important book includes comprehensive coverage of this recently issued standard aimed at small and medium-sized businesses.
- Provides essential coverage for application of IFRS-now a necessity in the accounting world
- Includes Foreword by Paul Pacter, Director of Standards for SMEs, IASB
- Offers commentary on the theory in the standard, illustrative disclosures, comprehensive illustrative financial statements and comparisons to full IFRS
- Includes relevant real life worked out examples aimed at SMEs, plus summaries of important points
The first book on how to apply the new SMEs standard, Applying the IFRS for SMEs is a must-have book for your small or medium-sized business.
|Product dimensions:||7.45(w) x 9.24(h) x 0.87(d)|
About the Author
Bruce Mackenzie, CA (SA) FCCA RA, JSE Registered IFRS® Advisor, is a member of the IASB SME Implementation Group (SMEIG) and a director of W.consulting (www.wconsulting.co.za), a global IFRS® consulting and training company. He has held positions at Deloitte both in South Africa and the United Kingdom in the IFRS® Centers of Excellence.
Allan Lombard, CA (SA) RA, is an independent IFRS® consultant and has worked previously for KPMG as audit manager.
Danie Coetsee, CA (SA), is Professor of Accounting at the University of Johannesburg, specializing in financial accounting.
Tapiwa Njikizana, CA (SA), RA, JSE Registered IFRS® Advisor, is a director at W.consulting. After qualifying with Coopers & Lybrand, he spent time internationally with Ernst & Young and Anderson.
Raymond Chamboko, CA (SA), JSE Registered IFRS® Advisor, is a director at W.consulting. He was previously with Ernst & Young and SizweNtsalubaVSP where he handled accounting technical issues.
Edwin Selbst (SA) RA, is the technical partner for Horwath South Africa, a member of Crowe Horwath International
Table of Contents
List of Abbreviations xiii
Chapter 1 Scope of the IFRS for SMEs 1
Chapter 2 Concepts and Pervasive Principles 7
Chapter 3 Financial Statement Presentation 21
Chapter 4 Statement of Cash Flows 41
Chapter 5 Consolidated and Separate Financial Statements 51
Chapter 6 Business Combinations and Goodwill 69
Chapter 7 Accounting Policies, Estimates, and Errors 85
Chapter 8 Inventories 95
Chapter 9 Investments in Associates 107
Chapter 10 Investments in Joint Ventures 121
Chapter 11 Investment Property 127
Chapter 12 Property, Plant, and Equipment 141
Chapter 13 Intangible Assets Other than Goodwill 167
Chapter 14 Impairment of Assets 187
Chapter 15 Provisions and Contingencies 205
Chapter 16 Liabilities and Equity 223
Chanter 17 Financial Instruments 243
Chapter 18 Leases 293
Chapter 19 Share-Based Payment 319
Chapter 20 Employee Benefits 337
Chapter 21 Income Tax 359
Chapter 22 Revenue 379
Chapter 23 Government Grants 401
Chapter 24 Borrowing Costs 407
Chapter 25 Foreign Currency Translation 409
Chapter 26 Hyperinflation 423
Chapter 27 Events after the End of the Reporting Period 431
Chapter 28 Related Party Disclosures 437
Chapter 29 Specialized Activities 445
Chapter 30 Transition to the IFRS for SMEs 459