Wiley IAS 2000: Interpretation and Application of International Accounting Standards

Wiley IAS 2000: Interpretation and Application of International Accounting Standards


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The practical guide to IAS compliance

This handy yet comprehensive quick-reference guide helps accountants prepare and understand financial statements presented in accordance with the rapidly evolving, ever more widely utilized international accounting standards (IAS). This 2000 edition includes complete coverage of all the standards issued or revised under the International Organization of Securities Commissions’ (IOSCO) "core set of standards" program. More than ever before, every accountant or corporate financial official involved in–or contemplating–registration in foreign markets now needs the guidance offered in this book. Written by a team of practicing CPAs with in-depth international experience, this guide includes meaningful real-world examples and interpretive insights into the requirements of IAS.

This up-to-date 2000 edition covers important, complex requirements addressed by the IAS, including:

  • IAS 34, Interim Financial Reporting–the first international standard to address the important issues of measuring financial results on interim bases
  • Discontinuing Operations–which supersedes less definitive earlier guidance and offers explicit rules for disclosures
  • Impairment of Assets–the recent standard requiring that close attention be given to indicators of impairment for not only plant assets but all tangible and intangible long-lived assets and investments
  • IAS 37, Provisions, Contingent Liabilities, and Contingent Assets–which change the language of contingent obligations and set new recognition and disclosure standards
  • IAS 38, Intangible Assets–which greatly expands the guidance concerning the always challenging subject of intangible assets, and unifies the requirements governing accounting for goodwill with those applicable all other intangibles
  • E62, Financial Instruments: Recognition and Measurement–the latest exposure draft addressing this very important and controversial topic, covered in expansive detail with the authors’ recommendations clearly set forth
  • E64, Investment Property
  • E65, Agriculture

Also, for the first time, the 2000 edition covers:

  • IAS 26, Financial Reporting by Retirement Benefit Plan
  • IAS 20, Government Grant
  • IAS 18, Revenue Recognition
  • IAS 10 (revised 1999), Events After the Balance Sheet Date

Plus: revised standards on accounting for employee benefits (IAS 19), business combinations (IAS 22), and leases (IAS 17); full, integrated coverage of the recently established interpretive series of releases issued by the Standing Interpretations Committee; and a chapter on the often contentious topic of related-party disclosures, as well as coverage of specialized industry accounting rules.

Product Details

ISBN-13: 9780471351139
Publisher: Wiley
Publication date: 12/28/1999
Pages: 959
Product dimensions: 7.50(w) x 9.47(h) x 1.74(d)

About the Author

BARRY J. EPSTEIN, PhD, CPA, is a partner at Gleeson, Sklar, Sawyers & Cumpata LLP, Chicago, Illinois.

ABBAS ALI MIRZA, ACA, AICWA, CPA, is a director at Pannell Kerr Forster (Ratan Mama & Co.), Dubai, United Arab Emirates.

Table of Contents

Introduction to International Accounting Standards.

Balance Sheet.

Income Statement, Statement of Changes in Equity, and Statement of Recognized Gains and Losses.

Cash Flow Statements.

Cash, Receivables, and Financial Instruments.


Revenue Rcognition, Including Construction Contract Accounting.

Property, Plant, and Equipment.

Intangible Assets.


Business Combinations and Consolidated Financial Statements.

Current Liabilities, Provisions, Contingencies, and Events After the Balance Sheet Date.

Long-Term Debt.

Accounting for Leases.

Accounting for Income Taxes.

Accounting for Employee Benefits.

Stockholders' Equity.

Earnings per Share.

Interim Financial Reporting.

Segment Reporting.

Accounting Changes and Correction of Fundamental Errors.

Foreign Currency.

Related-Party Disclosures.

Specialized Industry Accounting.

Accounting for Inflation and Hyperinflation.

Government Grants.



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