IFRS Essentials

PREFACE

There are several IFRS commentaries that exceed several thousands of pages. The reading and utilization of such commentaries requires the investment of large amounts of time as well as previous knowledge to be able to understand and apply the information. Such publications are of particular relevance for experts. However, their content goes far beyond the needs of students and most readers. Alternatively, the IFRS book market also includes books that promise to convey an understanding of IFRS in several days. These books do not and cannot have the depth that many readers need.

Consequently, the authors have aimed at striking a balance between the two: this book does not include every single detail because such an approach would overload the book with information not relevant for most readers. Therefore, this book is not an encyclopedia. However, it does convey an understanding of IFRS that gives students and readers an in-depth introduction to the topics. It illustrates the essentials of IFRS relevant to the audience described above.

The workbook is characterized by a balanced ratio of “theory” (explanation of the rules) and “practice” (illustration of the application of the rules by means of examples). It aims to capture problems and their solutions by using explanations that are short, simple, and easy to understand. Obscure language and incomplete illustrations are avoided.

The book can be used by lecturers at universities and other educational institutions. Students ...