Frequently Asked Questions on IFRS

Chapter 5

Additional Recommended Reading

It is very important that professional accountants keep up to date with the most recent developments in the world of financial reporting. International Financial Reporting Standards (IFRS) change very frequently and if accountants are not kept up to date with the most recent changes (or aware of planned changes), this could result in errors when preparing general purpose financial statements under IFRS.

This publication has not covered every single eventuality in the world of IFRS. By definition, this publication has only touched on the most commonly asked questions and therefore additional reading is recommended for those who deal with IFRS on a regular basis.

IFRS for Dummies

IFRS for Dummies, written by me and published by John Wiley & Sons in April 2012 is an introduction into the world of IFRS. The book looks at all the IFRSs and IASs, and illustrates the concepts by using real-world examples.

From the back cover:

If you're an accountant, student, or trainee looking for a quick fix on IFRS, this plain-English guide has you covered. IFRS for Dummies provides all the facts you need to understand the complex world of international financial reporting, along with plenty of practical, real-world examples.

• Learn the who, what and why–get the lowdown on why the standards were created and which countries use them, as well as the advantages of IFRS.
• Master IFRS financial statements–get up and running with the basics of how to prepare financial ...