Applying International Financial Reporting Standards 2nd edition has been thoroughly updated to reflect the varied and numerous changes with the International Financial Reporting Standards (IFRS). The expert knowledge and authoritative explanations of the author team has resulted in the textbook being extensively referenced by both professional and academics in countries that have either adopted, or intend to adopt international accounting standards.

The continuing focus is on interpreting, analysing, and illustrating the financial reporting requirements under IFRS. Each chapter contains numerous illustrative examples that present and explain concepts to ensure that users gain a deep understanding of the reporting requirements and meet the knowledge expectations of the accounting profession.

The coverage of accounting standards has been expanded in the new edition with the inclusion of new chapters on IFRS 6 Exploration for and Evaluation of Mineral Resources, IAS 8 Revenue, IAS 19 Employee benefits and IAS 41 Agriculture. This textbook has been written for intermediate and advance courses on financial accounting, at both undergraduate and postgraduate level.

NEW TO THIS EDITION

• 4 NEW chapters - IFRS 6 Exploration for and Evaluation of Mineral Resources, IAS 18 Revenue, IAS 19 Employee benefits and IAS 41 Agriculture
• Fact Sheets summarise the scope and key reporting requirements associated with each accounting standard. Ideal for student review and exam preparation
• Step-by-step analysis of the IFRS and its scope, objectives and reporting requirements
• Details the relevant issues and practical workings associated with various IFRS pronouncements
• Illustrative examples are positioned throughout the chapters, to show the new financial reporting procedures and further develop conceptual understanding of the new processes
• Use of real-world financial data and annual reports - annual reports extracts from well known Australian companies illustrate disclosure policies and how companies prepare and report financial position in accordance with the AIFRS. 
• Authoriative authors provide insightful and informed analysis of the financial reporting procedures.

For adopters of this text there is a full suite of lecturer resources available:  Solutions Manual, Test Bank, PowerPoint Slides, Art Files and content for your Learning Mangement System (Blackboard, WebCT, Moodle) which includes student quizzes and exclusive clips from our Ernst & Young Video series.