Kurt Ramin, Cornelis Reiman

IFRS and XBRL (eBook, PDF)

How to improve Business Reporting through Technology and Object Tracking

• Format: PDF

Produktbeschreibung

International Financial Reporting Standards are increasingly adopted worldwide, and it is critical to understand their place within the global business environment as well as the most up-to-date methods of applying them. In IFRS and XBRL Kurt Ramin and Cornelis Reiman, world authorities on IFRS, have condensed the overwhelming flood of available material to present a comprehensive guide to the key components of IFRS, helping to explain why they are a priority for private enterprises and governments alike. The book: * provides valuable commentary on key components of IFRS which are crucial to local, national and international business decision making * demonstrates the importance of disclosure checklists * offers illustrative financial statements arising from IFRS * looks at recent developments in IFRS, in particular how the standards should be reflected in the narrative report, and what implications they have for sustainability reporting * explores how business reporting can be improved, for example through the addition of non-financial reporting * examines the key issue of emerging technology in reporting under IFRS, especially the use of XBRL and the obvious push for a new paradigm whereby object definitions, tracking and valuation offer considerable benefits to the people who produce and rely upon business reports To complete the picture, the authors examines other standards, and cover important issues such as US GAAP convergence with IFRS, and the important of International Valuation Standards, IFRS and XBRL is the complete guide to the background, current state, and future of International Financial Reporting Standards.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 752
• Erscheinungstermin: 20. März 2013
• Englisch
• ISBN-13: 9781118387832
• Artikelnr.: 38244641

Autorenporträt

Kurt Ramin (Dubai, UAE), until recently served as Director and Advisor at AccountAbility and the IFRS Foundation, both located in London. His work at the IFRS Foundation and the IASB involved introducing IFRS and XBRL to more than 80 countries. During his tenure with the IFRS Foundation he lead XBRL International as Global Chairman and was a member of the European Union Commission's High Level Expert Group on Intangibles. From 2008 to 2012 he was Treasurer for the International Union for Conservation of Nature (IUCN), the world's largest association of nature conservation agencies, headquartered in Switzerland. Prior to joining the IFRS Foundation (and its predecessor, the IASC Foundation) he was a Global Capital Markets Group Partner at PricewaterhouseCoopers in New York and Chief Financial Officer at several international companies. Cornelis Reiman (Bangkok, Thailand), is an international board advisor. Previously, he was President of an economic development entity promoting International Financial Reporting Standards in developing countries. Before that, he was Dean and Vice President of universities in Thailand and Singapore. Prior to academia, he consulted in the private, public and not-for-profit sectors on corporate management and strategic planning. The global IT provider IBM, and the former accounting services firm of Arthur Andersen & Co., employed him earlier. Cornelis has a Ph.D. in Economics and enjoys exceptional professional qualifications, including FCPA (Australia and Singapore), FCIS, Chartered Accountant, and Senior Member with the Australian Computer Society. Presently, he is an Independent Director on the board of the Chamber of Accountants of the Republic of Kazakhstan. In addition, he advises CPA Russia.

Inhaltsangabe

Foreword xi About the book xiii About the authors xv Preface xix
Acknowledgements xxi Introduction to this book 1 Leading to a new reporting
paradigm - concept map 2 PART I: INTERNATIONAL FINANCIAL REPORTING
STANDARDS (IFRS) Tips for readers 13 Chapter 1: Introduction to and
objectives of IFRS 15 Chapter 2: How important are IFRS to business and
global acceptance? 19 2.1 IFRS and legal objectives 20 2.2 Convergence of
IFRS and US GAAP 21 2.3 Reconciliation to US GAAP 24 2.4 IOSCO, regulators
and enforcement 25 Chapter 3: Governance and accountability of the IFRS
Foundation 29 3.1 History, structure and finance 29 3.2 The monitoring
board and IFRS Foundation trustees 39 3.3 IASB members, due process and
IFRS Interpretations Committee 42 3.4 IFRS Advisory Council 48 Chapter 4:
Framework, standards and interpretations of IFRS 51 4.1 Framework 52 4.2
International Financial Reporting Standards 58 4.3 IFRS for Small and
Medium-sized Enterprises versus Private companies 159 4.4 Interpretations
to Standards 162 Chapter 5: IFRS Practice Statement Management Commentary
165 Chapter 6: Future plans 169 Chapter 7: New presentation formats 171 7.1
Model financial statements 171 7.2 New financial statement presentation 174
Chapter 8: Contents of IFRS book 177 Chapter 9: Glossary for IFRS 181
Chapter 10: Index to IFRS book 183 PART II: IFRS DISCLOSURES, OTHER
REPORTING STANDARDS AND ASSURANCE Tips for readers 187 Chapter 1: IFRS
disclosure 189 1.1 Summary of disclosures 192 1.2 Disclosure checklists 193
1.3 IFRS disclosure examples 206 Chapter 2: Other reporting standards 223
2.1 International Public Sector Accounting Standards (IPSAS) 224 2.2
Statistics-based standards 311 2.3 International Valuation Standards
Council (IVSC) 321 2.4 Valuation Resource Group 328 2.5 IEEE 328 2.6 ISO
330 2.7 AccountAbility 335 2.8 Other standards 346 2.9 OneReport 354 2.10
Taxation 354 PART III: XBRL - USING TECHNOLOGY TO IMPLEMENT STANDARDS Tips
for readers 359 Chapter 1: XBRL 361 1.1 XML - the technical basis of XBRL
364 1.2 Benefi ts of XBRL 367 1.3 Users of XBRL - worldwide 372 Chapter 2:
XBRL and IFRS 373 2.1 Overview 375 2.2 The IFRS taxonomy 381 2.3 IFRS
Foundation and translation 389 2.4 Support materials 401 2.5 Future steps
437 Chapter 3: Organising and collecting data 443 3.1 FASB codification and
XBRL taxonomy 443 3.2 Illustrative financial statements 449 3.3 XBRL for
integrated reporting 458 3.4 Content analysis 469 Chapter 4: Using systems
to organise and collect data 473 4.1 ERP systems and spreadsheets 473 4.2
SAP, Oracle and Cloud 475 Chapter 5: Opportunities to integrate and track
data objects 481 5.1 Growing interest among stakeholders 481 PART IV:
TRACKING OBJECTS - A PARADIGM SHIFT IN BUSINESS REPORTING Tips for readers
489 Chapter 1: Introduction 491 Chapter 2: Developments in new reporting
models 495 Chapter 3: Recognition and de-recognition 499 Chapter 4:
Discussing measurement 501 Chapter 5: A comprehensive business reporting
model 505 Chapter 6: Future reporting: the object and value supply chain
507 Chapter 7: Integrated reporting 525 7.1 Integrated reporting 526 7.2
Landscape of integrated reporting 535 Chapter 8: Object tracking 541 8.1
Object recognition 541 8.2 Data management 542 8.3 Tagging 542 8.4 Tracking
543 PART V: THE NEED FOR INCREASED ACCEPTANCE OF IFRS Tips for readers 545
Preamble 546 Chapter 1: The need for increased acceptance of IFRS 549 1.1
National accounting standards versus IFRS 549 1.2 Partial acceptance of
IFRS 550 Chapter 2: The need for increased acceptance of XBRL 551 Chapter
3: Additional issues 553 Chapter 4: Conclusion 561 Acronyms 563 References
571 Appendix A: IFRS example - for familiarisation 583 Appendix B: SNA 2008
- Contents 617 Glossary of IFRS terms 665 Index 715