The Impact of IFRS on Industry

The industry-specific guide to IFRS interpretation and
application

One of the biggest challenges of any reporting standard is how
best to interpret and implement it in the context of a specific
company or industry, given that each industry has its own
intricacies and nuances. The Impact of IFRS on Industry
provides specific guidance on applying IFRS in a diverse range of
sectors.

Opening with an overview of IFRS, including a summary of all the
standards, the book goes on to provide detailed coverage of the
standards that can impact all industries, including IAS-40, IFRS 1,
and IFRS 5. Thereafter, it offers practical advice and guidance on
the application of IFRS in specific industries, including
automotive; oil and gas; bio-sciences; infrastructure; airlines;
media and communications; government-owned entities; mining;
software; banking and financial services; insurance; FMCG;
shipping; pharmaceuticals; telecoms; real estate and construction;
power; SMEs; retail; e-commerce; and the service sector. The book
concludes with a discussion on the collateral impact of
implementing IFRS and how forthcoming IFRS Standards could impact
specific industries.

Worked examples are used throughout to demonstrate how the
standards are applied in practice.

• Understand the IFRS standards comprehensively

• Learn which standards impact all industries

• Examine the ways in which IFRS is applied in practice

• See how different standards are applied in specific
  industries

Suitable as a quick reference or a comprehensive guide, The
Impact of IFRS on Industry gives you the real-world IFRS
answers you need.

Auteur

Mohan R. Lavi is the Finance Director of Ellucian Higher Education Systems India Pvt Ltd, Bangalore, and owns a consulting firm, Arthazastra Management Services India Pvt Ltd. He is a chartered accountant with over twenty years of experience across a wide variety of industries.

Résumé
The industry-specific guide to IFRS interpretation and application One of the biggest challenges of any reporting standard is how best to interpret and implement it in the context of a specific company or industry, given that each industry has its own intricacies and nuances. The Impact of IFRS on Industry provides specific guidance on applying IFRS in a diverse range of sectors.

Opening with an overview of IFRS, including a summary of all the standards, the book goes on to provide detailed coverage of the standards that can impact all industries, including IAS-40, IFRS 1, and IFRS 5. Thereafter, it offers practical advice and guidance on the application of IFRS in specific industries, including automotive; oil and gas; bio-sciences; infrastructure; airlines; media and communications; government-owned entities; mining; software; banking and financial services; insurance; FMCG; shipping; pharmaceuticals; telecoms; real estate and construction; power; SMEs; retail; e-commerce; and the service sector. The book concludes with a discussion on the collateral impact of implementing IFRS and how forthcoming IFRS Standards could impact specific industries.

Worked examples are used throughout to demonstrate how the standards are applied in practice.

• Understand the IFRS standards comprehensively
• Learn which standards impact all industries
• Examine the ways in which IFRS is applied in practice
• See how different standards are applied in specific industries
  Suitable as a quick reference or a comprehensive guide, The Impact of IFRS on Industry gives you the real-world IFRS answers you need.

Contenu

Preface vii

Acknowledgements ix

1 Introduction: The Background and Evolution of IFRS, and a Discussion on Why IFRS Would Have an Impact on Industry 1

2 Summary of Disclosures Under IFRS Standards 7

3 IFRS Standards that Could Impact All Industries 43

4 The Impact of IFRS Standards on Specific Industries 75

5 Forthcoming IFRS Standards That Could Impact Industry 231

6 Collateral Impact of a Transition to IFRS 237

Afterword 245

Appendix: Impact Summary 247

Index 251