By Hennie van Greuning

ISBN-10: 0821384287

ISBN-13: 9780821384282

Making use of overseas monetary Reporting criteria (IFRS) in a company state of affairs may have an important influence at the monetary effects and place of a department or a whole agency. foreign monetary Reporting criteria: a realistic consultant provides deepest – or public-sector executives, managers, or monetary analysts with out a powerful history in accounting the instruments they should perform discussions and judgements at the appropriateness or software of IFRS. each one bankruptcy summarizes a world monetary Reporting typical, following a constant constitution: *Problems addressed by way of the IFRS *Scope of the normal *Key innovations and definitions *Accounting remedy *Presentation and disclosure *Financial research and interpretation Many chapters of the e-book additionally include examples that illustrate the sensible program of key recommendations in a specific normal. Titled overseas Accounting criteria: a realistic advisor in its past versions, the ebook contains all the criteria issued by means of the overseas Accounting criteria Board (IASB) via 31 may well 2004.

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However, in other instances management may need to take a strategic decision to as to whether they are going to adopt IFRS and from when they are going to apply it. This decision will be driven by, amongst other things, requirements of stakeholders, in particular equity and debt holders. IFRS 1 presents a number of exemptions for first time adopters. Management will need to consider which exemptions in IFRS 1 to apply on adoption of IFRS and will need to understand the implications of each exception.

10 Financial ratios mean little by themselves. Their meaning can only be gleaned by using them in the context of other information. 9 above, an analyst should evaluate financial ratios based on the following: ■ Experience. An analyst with experience obtains a feel for the right ratio relationships. Chapter 3 Presentation of Financial Statements (IAS 1) ■ ■ ■ ■ 27 Company goals. Actual ratios can be compared with company objectives to determine if the objectives are being attained. Industry norms (cross-sectional analysis).

Financial ratios tend to improve when the economy is strong and to weaken during recessions. Therefore, financial ratios should be examined in light of the phase of the economy’s business cycle. Trend (time-series analysis). The trend of a ratio, which shows whether it is improving or deteriorating, is as important as its current absolute level. 2). 7. 4. 3 Ratio Categories 1. Liquidity 2. 3 Ratio Categories (continued) 5. Profitability 3. Operational Efficiency (Activity) Numerator Total asset turnover Net sales Average net assets Fixed asset turnover Net sales Average total fixed assets Equity turnover Net sales Average equity 4.

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International Financial Reporting Standards: A Practical Guide by Hennie van Greuning

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