This book honours its title: it is a short handbook for introducing to global accounting standards, and for making quick queries. I expected a more detailed book (and even physically bigger), but it just gives general information on IFRS (International Financial Reporting Standards).
The book is divided into three sections:
– General overview of accounting standards: what IFRS are, how IFRS Foundation works and IASB (International Accounting Standards Board) sets the standards, a list of the standards as of 1 July 2014…
This part can be especially helpful for those who approach international standards at first time.
– Information on the use of IFRS: this section (the main part of the book) shows how IFRS are being adopted in several jurisdictions (130 in total). There is an explaining short report for each of those jurisdictions.
I believe that this part won’t very attractive for most readers; however, it can be a first step for those who need to know which the applicable accounting principles and rules are in a particular country.
– Overview of IFRS: this is the most interesting section, where the main principles in IFRS are briefly analysed. It is used a non-technical language and intends to give a portrait of the framework and content of the standards.
Definitely, this is a manual to get started with the basic ideas of IFRS, how they are applied in the different jurisdictions, and which the standards in force are.