Insights into IFRS; KPMG's Practical Guide to International Financial Reporting Standards 2011-2012

Insights into IFRS is your guide to preparing and understanding financial statements that have been prepared in accordance with IFRSs. Fully updated in the light of major changes to IFRSs over the past year, this new edition is your must-have companion. • Helps you to follow the requirements of IFRSs • Provides you with updates based on real IFRS queries encountered by KPMG member firms when working with clients around the world • Emphasises the application of IFRSs in practice and provides the conclusions reached by the KPMG International Standards Group on many interpretive issues • Includes many detailed examples to help you apply that experience The new edition: • Details the impact of IFRSs and guidance published between 1 August 2010 and 1 August 2011 that will be effective from 1 January 2011 • Provides information about recently published IFRSs and amendments to IFRSs that currently are effective Includes new or restructured chapters on: • Financial instruments, including the additions to the new standard on recognition and measurement of financial liabilities • IFRS 10 Consolidated Financial Statements (published May 2011) • IFRS 11 Joint Arrangements (published May 2011) It also highlights how the following may affect existing guidance on: • IFRS 12 Disclosure of Interests in Other Entities (published May 2011) • IFRS 13 Fair Value Measurement (published May 2011) • Deferred Tax: Recovery of Underlying Assets – Amendments to IAS 12 (published December 2010) • Amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards – Severe Hyperinflation and Removal of Fixed Dates for First-time Adopters (published December 2010) • IFRS Practice Statement Management Commentary (published December 2010) • Disclosures – Transfers of Financial Assets (Amendments to IFRS 7) (published October 2010) • New conceptual framework chapters on the objective of general purpose financial reporting and qualitative characteristics of useful financial information (published October 2010)