Publication: International Financial Reporting Standards : A Practical Guide, 5th Edition
Date
2009
ISSN
Published
2009
Author(s)
Abstract
The publication of this fifth edition
coincides with the convergence in accounting standards that
has been a feature of the international landscape since the
global financial crisis of 1998. The events of that year
prompted several international organizations, including the
World Bank and the International Monetary Fund, to launch a
cooperative initiative to strengthen the global financial
architecture and to seek a longer-term solution to the lack
of transparency in financial information. A conscious
decision has been made to focus on the needs of executives
and financial analysts in the private and public sectors who
might not have a strong accounting background. This
publication summarizes each standard so managers and
analysts can quickly obtain a broad overview of the key
issues. Detailed discussion of certain topics has been
excluded to maintain the overall objective of providing a
useful tool to managers and financial analysts. In addition
to the short summaries, most chapters contain basic examples
that emphasize the practical application of some key
concepts in a particular standard. This text provides the
tools to enable an executive without a technical accounting
background to: (1) participate in an informed manner in
discussions relating to the appropriateness or application
of a particular standard in a given situation, and (2)
evaluate the effect that the application of the principles
of a given standard will have on the financial results and
position of a division or of an entire enterprise.
Citation
“Van Greuning, Hennie. 2009. International Financial Reporting
Standards : A Practical Guide, 5th Edition; Estandares internacionales de informacion financiera : guia practica. © World Bank. http://openknowledge.worldbank.org/handle/10986/2620?show=full License: CC BY 3.0 IGO.”