Financial Reporting and Global Capital Markets
Financial Reporting and Global Capital Markets

Author: Kees Camfferman

Publisher: OUP Oxford

Published: 2007-03-08

Total Pages: 702

ISBN-13: 0199296294

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A detailed and scholarly historical study of the International Accounting Standards Committee (IASC), which prepared the way for the International Accounting Standards Board (IASB). The IASB holds the dominant influence over the financial reporting of thousands of listed companies in the European Union as well as in many other countries.

International GAAP 2018
International GAAP 2018

Author: Ernst & Young LLP

Publisher: John Wiley & Sons

Published: 2017-12-19

Total Pages: 6661

ISBN-13: 1119463734

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The essential guide to practical IFRS implementation, updated for 2018 International GAAP 2018 is the definitive reference for IFRS application around the world. Written by the expert practitioners at Ernst & Young, this invaluable resource provides both interpretation and practical implementation guidance for anyone applying, auditing, interpreting, regulating, studying, or teaching IFRS. Specific instruction written from a global perspective provides clarity on complex issues, and coverage of the latest changes ensures that you will apply the most current standards appropriately and effectively. Worked examples provide answers at a glance, and hundreds of illustrations from major companies’ financial reports demonstrate IFRS implementation and bring technical concepts to life. Countries around the world have adopted the International Financial Reporting Standards (IFRS), and in the US, foreign private issuers are allowed to report under IFRS without reconciling to US GAAP. This book provides the essential information practitioners need to correctly understand and apply these standards, using a clear, consistent approach to resolving global financial reporting issues under IFRS in real-world scenarios. Updated and expanded for 2018, this new edition allows you to: Get up to date on the newest amendments and interpretations issued in the past year Examine implementation issues caused by widespread adoption of IFRS 9, IFRS 15, and the upcoming adoption of IFRS 16 in 2019 Understand the new insurance contract standard IFRS 17, which solves the comparison problem of IFRS 4 Gain clarity and insight on practical matters involved with IFRS implementation This three-volume set provides the depth and breadth of coverage necessary, with financial instruments covered separately for greater ease of navigation. As the world’s most comprehensive reference for IFRS implementation, International GAAP 2018 is the resource no practitioner, regulator, student, or researcher should be without. For further information on the various digital versions which are available for this material please visit www.wileyigaap.com

The Economic Function of Deferred Taxes
The Economic Function of Deferred Taxes

Author: Anna Harumova

Publisher:

Published: 2016-01-12

Total Pages: 124

ISBN-13: 9781443817080

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Deferred tax is an accounting category that forms part of tax expense and affects the reported amounts of profit after tax for businesses. This book explores the issue of deferred taxes at both the theoretical and practical levels, and investigates the financial aspects of such deferred taxes and their economic function in companies. In practical terms, it discusses specific circumstances leading to the creation of deferred tax and their economic function. The first chapter deals with regulatory issues concerning deferred taxes and accounting, specifically noting the accrual principle and different policies for charging, as well as the valuation of fair-value accounting. The second concentrates on such problems as changes in value based on depreciation, and changes in asset revaluation changes in long-term tangible and financial assets. This is followed by a chapter focusing on the problem of an effective income tax rate. The fourth chapter traces the specific practical use and form of economic functions of deferred taxes, and solves the problem of the equitable tax burden, as well as the distribution of this burden when changing the tax rate. Overall, the book defines, analyses, synthesises and compares current methods and the role of deferred taxes in the management of companies.

Accounting for Deferred Income Taxes
Accounting for Deferred Income Taxes

Author: Bobby Carmichael

Publisher: John Wiley & Sons

Published: 2020-07-08

Total Pages: 224

ISBN-13: 1119724562

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A complicated accounting model, FASB ASC 740 has been around for a while. But the rules are becoming more challenging as businesses become more complex. This book incorporates the new tax rates and other impacts of the Tax Cuts and Jobs Act and will assist you in understanding FASB ASC 740, Income Taxes, and how it establishes guidelines for accounting for income taxes, including income tax expense, classification of deferred tax accounts, and related disclosures. Key topics include: Principles of FASB ASC 740 Income tax expense and deferred tax liabilities and assets Valuation allowances Proper documentation of deferred income taxes in the work papers Required disclosures within the financial statements

Principles of Group Accounting under IFRS
Principles of Group Accounting under IFRS

Author: Andreas Krimpmann

Publisher: John Wiley & Sons

Published: 2015-06-02

Total Pages: 869

ISBN-13: 1118751418

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A professional perspective to implementing IFRS 10, 11, and 12 The new International Financial Reporting Standards (IFRS) 10, 11, and 12 are changing group accounting for many businesses. As business becomes increasingly global, more and more firms will need to transition using the codes and techniques described in Principles of Group Accounting under IFRS. This book is a practical guide and reference to the standards related to consolidated financial statements, joint arrangements, and disclosure of interests. Fully illustrated with a step-by-step case study, Principles of Group Accounting under IFRS is equally valuable as an introductory text and as a reference for addressing specific issues that may arise in the process of consolidating group accounts. The new international standards will bring about significant changes in group reporting, and it is essential for accountants, auditors, and business leaders to understand their implications. Author Andreas Krimpmann is an internationally recognized authority on the transition from GAAP to IFRS, and this new text comes packaged with GAAP/IFRS comparison resources that will help make the changes clear. Other bonus resources include an Excel-based consolidation tool, checklists, and a companion website with the latest information. Learn about: Definitions, requirements, processes, and transition techniques for IFRS 10, 11, and 12 covering group level accounting Practical implementation strategies demonstrated through a clear case study of a midsize group Key concepts related to consolidated financial statements, joint ventures, management consolidation, and disclosure of interests Comparisons between GAAP and IFRS to clarify the required changes for international firms Whatever stage of the consolidation process you are in, you will appreciate the professional perspective in Principles of Group Accounting under IFRS.

The Accounting of Deferred Taxes under IFRS
The Accounting of Deferred Taxes under IFRS

Author: Michael Mehnert

Publisher: GRIN Verlag

Published: 2010-01-15

Total Pages: 15

ISBN-13: 3640513533

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Seminar paper from the year 2009 in the subject Business economics - Accounting and Taxes, grade: 1,7, AKAD University of Applied Sciences Stuttgart, course: IFRS, language: English, abstract: 1 Introduction In a global economy there is a need for common accounting rules. It is simply important for an enterprise to know that national and international stock exchange rules require the application of internationally accepted accounting directives. So there are several good reasons for a trend towards internationalization. For an investor means internationaliza-tion usually accompanied by a standardization of accounting rules that he can compare financial statements quicker and easier. There are no longer time- consuming and ex-pensive conversions of financial statements necessary. Internalization means also that the national differences in the determination of profit will disappear. Standardization would give the term “profit” substance and would allow the comparison of financial statements of different enterprises from several countries. In the European Union enterprises have a special responsibility since 2005. On the 12th of March 2002 the European Parliament endorsed the EC Commission’s proposal that all EU listed companies must follow standards issued by the International Accounting Standards Board (IASB) in their consolidated financial statements starting no later than 2005. In this assignment I want to give a short overview about what the main principles of the International Financial Accounting Principles (IFRS) are all about and what differences to the German Statutory Accounting Rules (HGB) can be distinguished (chapter 2). Then I want to focus on the accounting of deferred taxes under IFRS (chapter 3). After a definition of deferral I want to explain the concepts and methods of deferral in this part. Finally I will have a closer look on deferred tax assets and deferred tax liabilities.