IFRS; a briefing for chief executives, audit committees & boards of directors

These concise and easy to use briefing notes provide summaries of all the consolidated versions of IFRSs issued at 1 January 2011, in non-technical language. The main changes in this edition include the impact of: - completion of the first phase of the joint IASB and FASB project to develop an improved Conceptual Framework for IFRSs and US generally accepted accounting principles (GAAP) - amended version of IFRS 9 Financial Instruments, incorporating new requirements on accounting for financial liabilities - the revision of IAS 24 Related Party Disclosures, IAS 27 Consolidated and Separate Financial Statements and IFRS 3 Business Combinations - changes that have been made through 2010 Annual Improvements Process - IFRS Practice Statement Management Commentary These briefing notes have been specially prepared for Chief Executives, members of Audit Committees, Boards of Directors and others who want a broad overview of International Financial Reporting Standards (IFRSs) and International Accounting Standards (IASs) and of the business implications of implementing them.