Synopsis Insights into IFRS: KPMGAEs practical guide to International Financial Reporting Standards from the KPMG International Financial Reporting Group and Thomson. International Financial Reporting Standards (IFRSs) are the new global language of financial reporting. Insights into IFRS can be your guide to preparing and understanding financial statements that use IFRSs. In Insights into IFRS, the KPMG International Financial Reporting Group has laid out an overview of the requirements of IFRSs and provided extensive interpretative and application guidance based on seven years of experience working with IFRSs around the world. For ease of use, it is organised by topic to follow the structure of a set of financial statements and is cross-referenced extensively to the relevant standards and interpretations. It emphasises the application of IFRSs in practice and explains the conclusions reached by the KPMG International Financial Reporting Group on many interpretative issues. It is based on questions that have arisen around the world and includes many illustrative examples to clarify the application of the standards.The 2005/6 Edition of Insights into IFRS reflects the current requirements of IFRSs. It is based on standards that were in issue at 1 August 2005 and that are mandatory for an annual period beginning on or after 1 January 2005. It also covers new standards that are not required for 2005 but will apply soon and highlights areas of IFRSs that may change as a result of the ongoing projects of the IASB and IFRIC. The KPMG International Financial Reporting Group is part of KPMG IFRG Limited. How Insights into IFRS can help you: * Learn from seven years of research and hands-on experience of the KPMG International Financial Reporting Group * More clearly understand the practical issues of applying and interpreting IFRSs * Use illustrative examples from around the world to avoid re-solving problems * Readily identify issues that can arise on first-time adoption of IFRSs * Benefit from having the requirements explained and discussed by topic * Anticipate forthcoming requirements and possible changes to requirements as a result of IASB activity
