PKF has authored the 2015 Wiley publication titled “Interpretation and Application of International Financial Reporting Standards (IFRS)”, which went to print in January 2015. Till now, the IFRS book showed to be a runaway success with the first print run being completely sold out!
PKF/Wiley IFRS 2015 is a comprehensive guide to the latest International Financial Reporting Standards developed by the International Accounting Standards Board. Written by experts in global accounting standards at PKF International, this guide provides detailed information on the latest changes to IFRS, with comprehensive coverage of IFRIC interpretations. Delivered with clear, concise explanations delineated by topic for easy navigation, designed for both quick reference and in-depth study, with practical advice for implementing IFRS in real-life scenarios.”
The aim of IFRS is to provide “a single set of high quality, global accounting standards that require transparent and comparable information in general purpose financial statements. IFRS are considered a “principle based” set of standards in that they establish broad principles as well as dictate specific treatments. The most important benefits of IFRS are: improved comparability of reported financial information by entities; easier access to foreign capital funding and cross-border stock exchange listings; more effective management of enterprises and efficient processes since IFRS reporting is performance based; more transparent financial information to all stakeholders, optimisation of tax planning and much more.