International Accounting Standards from UK Standards to IAS: An Accelerated Route to Understanding the Key Principles

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International Accounting Standards from UK Standards to IAS: An Accelerated Route to Understanding the Key Principles

Author: Paul Rodgers

Publisher: Elsevier/CIMA Publishing

Price: 29.99 [pounds sterling]

ISBN: 978 0750682039

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Accounting and Business Valuation Methods: How to Interpret IFRS Accounts

Author: Malcolm Howard

Publisher: Elsevier/CIMA Publishing

Price: 29.99 [pounds sterling]

ISBN: 978 0750684682

This is a mixed pair. Paul Rodgers aims to help "all members of the management team" understand the differences between UK Gaap and international financial reporting standards (IFRS), but it is hard to imagine such an audience wishing to study a topic that is arcane and, as the systems converge, diminishing. A more realistic readership would be accounting students requiring a rapid revision course on the key remaining differences between the two.

In this respect the book has highs and lows. Topics such as accounting for leases, pensions and share-based payments are nicely covered with succinct diagrams and/or worked examples. Similarly, the timeline showing how IFRS developed from 1967 to 2004 is well done. Unfortunately, the book is already dated. This is sometimes unavoidable--few would have predicted that the US Securities and Exchange Commission would recognise the use of IFRS by foreign registrants last November. Other problems were avoidable: the UK Companies Act 2006 received royal assent in November 2006 and IFRS8 on segmental disclosures was published in November 2006, and the content of both was known much earlier. …