Insights into IFRS

The 11th edition of Insights into IFRS provides up-to-date information based on KPMG member firms’ experience of applying IFRS around the world. It addresses many interpretative issues and helps you to apply IFRS to real transactions and arrangements.

This edition covers standards in issue at 1 July 2014 that apply to an annual period beginning on 1 January 2014 – bringing you the Insights into IFRS that you need to deal with IFRS today and prepare for IFRS tomorrow.

COVERAGE

- Current IFRS requirements
- Forthcoming requirements – i.e. new requirements that are not yet compulsory but that will be soon; helps businesses to anticipate and prepare for the change
- Future developments – high-level anticipation of possible future changes, to help businesses with their longer-term anticipation and planning
- General issues such as business combinations and fair value measurement
- Specific items in the statement of financial position and statement of profit or loss and OCI
- Special topics such as leases
- Issues relevant to those making the transition to IFRS
- Financial instruments
- Insurance contracts
- Appendix of currently effective and forthcoming requirements
- Appendix showing where to find content that was in the previous edition but that has moved (table of concordance)
- Appendix of examples

NEW FOR THIS EDITION

- New revenue requirements
- New financial instruments requirements (IFRS 9 (2013)), including the new requirements for hedge accounting
- New requirements for regulatory deferral accounts for first-time adopters of IFRS
- Updated guidance throughout – reflecting changes over the past year, developing practice etc
- Overhauled chapter on share-based payments – e.g. splitting basic and complex issues and more examples showing practical application
- Overhauled chapter on earnings per share

IN PRACTICE

- Emphasises the application of IFRS in practice
- Explains the conclusions that KPMG has reached on many interpretative issues
- Is based on actual questions that have arisen in practice around the world – i.e. ‘real life’ application, not theory
- Includes many illustrative examples to elaborate or clarify the practical application
- Includes an index of examples, for easy reference