Higher Education

International Financial Reporting Standards: An Introduction, 3rd Edition

  • Belverd E. Needles DePaul University
  • Marian Powers Northwestern University
  • ISBN-10: 1133187943  |  ISBN-13: 9781133187943
  • 80 Pages
  • Previous Editions: 2011, 2010
  • © 2013 | Published
  • College Bookstore Wholesale Price = $27.25

About

Overview

As convergence becomes a closer reality, International Financial Reporting Standards are essential for both accounting students and CPAs to understand. By implementing first-hand experience of the IFRS coverage from past CPA exams, A GUIDE TO INTERNATIONAL FINANCIAL REPORTING STANDARDS, 3rd Edition provides the basics students need to know to pass the CPA exam. Updates to revenue recofnition and leases, the differences between IFRS and U.S. GAAP, and coverage of the SEC's position on its adoption of IFRS have all been included in this booklet. Recent revisions by the IASB on conceptual framework have also been added. Written for learners who are new to IFRS, A GUIDE TO INTERNATIONAL FINANCIAL REPORTING STANDARDS continues to deliver content relevant to students, such as the history, structure, and status of IFRS, and its relationship to U.S. GAAP. This text works well as a standalone item or to supplement an existing course where IFRS will be covered in more detail.

Features and Benefits

  • Relevant Content: INTERNATIONAL FINANCIAL REPORTING STANDARDS delivers content relevant to students, including the history, structure, and status of IFRS, as well as its relationship to US GAAP.
  • Focusing on the necessity of IFRS knowledge and the real-world application, the booklet includes actual financial statements from well-known companies to give students an accurate depiction of real company data.
  • Trusted Authorship: Bel Needles and Marian Powers provide their expertise on the subject of IFRS as well as their understanding of the needs of the beginning accounting student.
  • Appropriate scope: Around sixty pages, this booklet delivers the basics of IFRS coverage in a few hours of study and includes review questions.

Table of Contents

I. Background of IFRS.
II. IFRS Conceptual Framework and Financial Statements.
III. Key Differences between IFRS and U.S. GAAP – Part 1.
IV. Key Differences between IFRS and U.S. GAAP – Part 2.
V. IFRS for Small-and Medium-Sized Entities.
VI. The Current Status and Future of IFRS.
Appendix A: Common Acronyms.
Appendix B: IFRS Timeline.
Appendix C: Current IFRS and IAS.
Appendix D: IASB Work Plan.
Appendix E: Selected Websites with IFRS Resources.

What's New

  • Updates have been made to include the latest changes to revenue recognition and leases.
  • Problems at the end of each section have been rewritten and revamped to include additional questions and the latest changes to IFRS coverage on the CPA exam.
  • Covering the most recent CPA exam updates, the booklet covers the transition to IFRS to give students as much knowledge as possible before taking the CPA exam.
  • The conceptual framework chapters has been revised based on the revision to the framework by the IASB

Learning Resource Bundles

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Learning Consultant for more information.

Bundle: Financial Accounting (with IFRS), 11th + International Financial Reporting Standards: An Introduction, 3rd

ISBN-10: 1133904378  | ISBN-13: 9781133904373

List Price = $461.95  | CengageBrain Price = $461.95  | College Bookstore Wholesale Price = $347.00

This Bundle Includes:

  • Financial Accounting
    List Price = $424.95  | CengageBrain Price = $424.95  | College Bookstore Wholesale Price = $319.75
  • International Financial Reporting Standards: An Introduction
    List Price = $35.95  | CengageBrain Price = $35.95  | College Bookstore Wholesale Price = $27.25


ePack: Printed Text + Questia, 1 term (6 months) Instant Access Code

ISBN-10:  1305619463 | ISBN-13:  9781305619463

List Price = $96.95  | College Bookstore Wholesale Price = $73.00

This Bundle Includes:

  • International Financial Reporting Standards: An Introduction
    List Price = $35.95  | CengageBrain Price = $35.95  | College Bookstore Wholesale Price = $27.25
  • Questia, 1 term (6 months) Instant Access
    List Price = $.00  | CengageBrain Price = $40.00  | College Bookstore Wholesale Price = $40.00


Meet the Author

Author Bio

Belverd E. Needles

Belverd E. Needles, Jr., received his BBA and MBA degrees from Texas Tech University and his PhD degree from the University of Illinois at Urbana-Champaign. He teaches financial accounting, managerial accounting, and auditing at DePaul University, where he is an internationally recognized expert in international accounting and education. He has published in leading journals and is the author or editor of more than 20 books and monographs. His current research relates to international financial reporting, performance measurement, and corporate governance of high-performance companies in the United States, Europe, India, and Australia. His textbooks are used throughout the world and have received many awards, including (in 2008) the McGuffey Award from the Text and Academic Authors Association. Active in many academic and professional organizations, he is immediate past vice president-education of the American Accounting Association. He received the Distinguished Alumni Award from Texas Tech University, the Illinois CPA Society Outstanding Educator Award and its Life-Time Achievement Award, the Joseph A. Silvoso Faculty Award of Merit from the Federation of Schools of Accountancy, the Ledger & Quill Award of Merit, and the Ledger & Quill Teaching Excellence Award. He was named Educator of the Year by the American Institute of CPAs, Accountant of the Year for Education by the national honorary society Beta Alpha Psi, and Outstanding International Accounting Educator by the American Accounting Association. He received the Excellence in Teaching Award from DePaul University.

Marian Powers

Marian Powers received her B.S. degree from Chicago State University and her Ph.D. degree from University of Illinois at Urbana-Champaign. In addition to the Kellogg School of Management at Northwestern University, she has taught financial accounting at the University of Illinois, Chicago, and at the Lake Forest Graduate School of Management. Internationally recognized as a dynamic teacher in executive education, she specializes in teaching nonfinancial managers how to read and understand internal and external financial reports, including the impact of international financial reporting standards (IFRS). Her current research relates to international financial reporting, performance measurement, and corporate governance of high-performance companies in the United States, Europe, India, and Australia. Her research has been published in leading journals. Her textbooks, coauthored with Belverd E. Needles, Jr., are used throughout the world and have received many awards, including the Textbook Excellence Award and the McGuffey Award from the Text and Academic Authors Association. She has also coauthored three interactive multimedia software products. She currently serves on the Board of the CPA Endowment Fund of Illinois and is immediate past-chair of the Board of Governors of the Winnetka Community House. She is a member of International Association of Accounting Education and Research, and Illinois CPA Society. She has served on the Board of Directors of the Illinois CPA Society, the Educational Foundation of Women in Accounting, and both the national as well as Chicago chapters of ASWA.