International accounting standards explained

• Corporate Author: International Accounting Standards Committee
• Format: Book
• Language: English
• Published: New York John Wiley & Sons 2000(2001 printing)
• Subjects: Accounting > Standards
• Online Access: Click Here to View Status and Holdings.

 International Accouting Standards Explained is an introduction to IASC and to the requirements of the IAS. It outlines how the standards are used on a daily basis by companies in preparation of their financial statements. It offers a detailed description of the International Accounting Standards Committee and how it is structured. It examines the use of IAS from a practice orientation and looks at the main components of the financial statements, including questions of recognition and measurement of key financial statement items. There is also a discussion of the IASC Framework for the Preparation and Presentation of Financial Statements. The framework provides a foundation for the development of new standards and is used as reference for applying IAS in the absence of detailed application guidance.