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International GAAP 2015

SGV & Co. has provided PCA with a copy of the latest edition of International GAAP, a three-volume publication produced by EY. This publication provides a comprehensive guide to the interpretation and application of International Financial Reporting Standards (IFRS).

The tenth edition of International GAAP has been revised and updated in order to:

·  Include two new chapters: one on the new revenue recognition standard IFRS 15, Revenue from Contracts with Customers, and another one on the new expected credit loss impairment model of IFRS 9, Financial Instruments.
·  Discuss the practical issues which arose from the adoption of the standards that became effective in 2013 such as IFRS 10, Consolidated Financial Statements; IFRS 11, Joint Arrangements; IFRS 12, Disclosure of Interests in Other Entities; IFRS 13, Fair Value Measurement; and the revised International Accounting Standards (IAS) 19, Employee Benefits
·  Explain the many initiatives that are currently being discussed by the International Accounting Standards Board and by the IFRS Interpretations Committee, and the potential consequential changes to current accounting requirements. In particular, the projects which may have significant changes include insurance contracts, leases and the conceptual framework for financial reporting.

CEOs, CFOs and Accounting Managers of PCA-member firms can go to the PCA Secretariat Office to glance over the book or have it photocopied for their reference.



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