International accounting standards: A practical guide

International accounting standards: A practical guide

Author: 
Greuning, Hennie Van
Place: 
Washington,D.C.
Publisher: 
The World Bank
Phys descriptions: 
166p
Date published: 
2000
Record type: 
Responsibility: 
Koen, Marius, jt. author
ISBN: 
0821348604
Call No: 
657.4 GRE
Abstract: 

When we developed this publication, we made a conscious decision to focus on the needs of senior executives in the private and public sectors who do not have a strong accounting background. This publication summarizes each International Accounting Standard so that managers and executives can obtain a broad and basic understanding of the key issues within a minimum time frame. In addition to the short summaries, each chapter contains a simple case study that emphasizes the practical application of some key concepts in a particular standard. The non-technical reader is therefore provided with the tools to participate in an informed manner in discussions relating to the appropriateness or application of a standard in a given situation. The reader can also evaluate the effect that the application of the principles of a given accounting standard will have on the financial results and position of a division or an entire enterprise. HOW TO USE THIS PUBLICATION: The authors have created a template to facilitate discussion of each standard. 1- PROBLEMS ADDRESSED identifies the main objectives and the key issues of the standard. 2- SCOPE OF THE STANDARD identifies the specific transactions and events covered by a standard. In certain instances, compliance to the requirements of a standard is limited to a specified range of enterprises. 3- ACCOUNTING TREATMENT lists the specific accounting principles, bases, conventions, rules, and practices that should be adopted by an enterprise for compliance with a particular standard. 4- DISCLOSURE describes the manner in which the financial and non-financial items should be presented in the financial statements as well as aspects that should be disclosed in these financial statements. The authors hope that managers in the client countries of the World Bank will find the dual language format useful in enlarging the dissemination of the International Accounting Standard. CONTENT: All of the accounting standards issued by the International Accounting Standards Committee (IASC) as well as interpretations issued by the standards Interpretations issued by the Standard Interpretations Committee (SIC) until 30 October 1998 are included in this publication.

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CITATION: Greuning, Hennie Van. International accounting standards: A practical guide . Washington,D.C. : The World Bank , 2000. - Available at: http://library.au.int/international-accounting-standards-practical-guide-10