This pocket guide provides a summary of the recognition, measurement and presentation requirements of International Financial Reporting Standards (IFRS) issued up to August 2013. It does not address in detail the disclosure requirements; these can be found in the PwC publication ‘IFRS disclosure checklist 2013’.
The information in this guide is arranged in six sections:
- Accounting principles.
- Income statement and related notes.
- Balance sheet and related notes.
- Consolidated and separate financial statements.
- Other subjects.
- Industry-specific topics.
The IASB is still debating major aspects of the Conceptual Framework that underpins IFRS and IFRS is continually changing with new standards and requirements being introduced regularly. Hence, this guide is up to date as of the publication date. More detailed guidance and information on these topics can be found in the ‘IFRS manual of accounting 2014’ and other PwC publications. A list of PwC’s IFRS publications is provided on the inside front cover. Our website inform.pwc.com includes up to date guidance on all of these areas of IFRS