International GAAP 2008: Generally Accepted Accounting Practice under International Financial Reporting Standards

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IFRSs, the standards set by the International Accounting Standards Board (IASB), are complex and sometimes obscure. Understanding their implications and applying them appropriately requires something special....and that is why International GAAP 2008 is the essential tool for anyone applying, auditing, interpreting, regulating, studying and teaching international financial reporting. It provides expert interpretation and practical guidance for busy professionals, and includes, in every chapter, detailed analysis of how complex financial reporting problems can be resolved appropriately and effectively.International GAAP 2008 is the only globally focused work on IFRSs. It is not constrained by any individual country’s legislation or financial reporting regulations, and it ensures an international consistency of approach unavailable elsewhere. It shows how difficult practical issues should be approached in the new complex global world of international financial reporting, where IFRSs have become the accepted financial reporting system in more than 120 countries. This integrated approach provides a unique level of authoritative material for anyone involved in preparing, interpreting or auditing company accounts, for regulators, academic researchers and for all students of accountancy.The International Financial Reporting Group of Ernst & Young includes financial reporting specialists from throughout the world. Complex  technical accounting issues are explained clearly in a practical working context that enables immediate understanding of the point at issue.International GAAP 2008 is accompanied by numerous worked examples, a comprehensive discussion of the practical issues of the day and the possible alternative solutions available, and hundreds of practical illustrations taken from the actual financial statements of companies that report under IFRSs.The only globally focused work on IFRS giving an international consistency of approach unavailable elsewhereThis new and essential volume of practical guidance and expert interpretation deals with every aspect of applying International Financial Reporting Standards (IFRS) appropriately and effectivelyWritten by financial reporting experts from the International Financial Reporting Group of Ernst & YoungIncludes a new chapter on Extractive Industries (mining, oil & gas), the biggest industry sector in the worldThis new edition in the International GAAP® series serves as a successor to the same authors’ market-dominating UK GAAP and UK & International GAAP"an important part to play in the process of promoting consistent, comparable and high quality financial reporting under IFRSs … a book that not only provides an analysis of the requirements of the standards and the principles that they expound, but also presents a unique explanation of how the standards should be interpreted and applied in practice."—the Chairman of Trustees of the IASC FoundationPraise for previous editions in the International GAAP series:"A standard reference work"—Financial Times"The definitive guide to financial reporting"—The Times

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Ernst & Young is a global leader in professional services with some 114,000 people based in 140 countries. Around the world the firm is committed to pursuing the highest levels of integrity, quality, and professionalism in delivering a broad inventory of services to their clients. By connecting their people’s talents, Ernst & Young provides solutions to clients based on financial, transactional, and risk-management knowledge in its core services of audit, tax, and transactions.International GAAP 2008 is the only truly globally focused work on IFRSs. It is not constrained by any individual country’s legislation or financial reporting regulations, and it ensures an international consistency of approach unavailable elsewhere. It shows how difficult practical issues should be approached in the new complex global world of international financial reporting, where IFRSs have become the accepted financial reporting system in more than 100 countries.  This integrated approach provides a unique level of authoritative material for anyone involved in preparing, interpreting or auditing company accounts, for regulators, academic researchers and for all students of accountancy.The International Financial Reporting Group of Ernst & Young includes financial reporting specialists from throughout the world.