Your Indispensable Guide to IFRS® Compliance International Financial Reporting Standards (IFRS®) are now in use in over 120 jurisdictions worldwide, including the European Union and most countries in Asia, the Middle East and South America. In the United States companies have been permitted to use them by the Securities and Exchange Commission since 2007. With further refinements to IFRS® by the International Accounting Standards Board (IASB) resulting in changes on a yearly basis, and given the now virtually unstoppable momentum worldwide to adopt (or, in some cases, adapt) IFRS®, mastery of this knowledge is a necessity for all preparers of financial statements. Wiley IFRS® 2016 provides a complete and up–to–date explanation of all IFRS® requirements, coupled with examples of how to apply the rules in complex, real–world situations. It can be used to train accounting staff, and to serve as a reference guide during the implementation of IFRS® and preparation of IFRS®–based financial statements. Wiley IFRS® 2016 is equally valuable for preparers, auditors, and users of financial reports. Key concepts are illustrated throughout, using worked examples and selections from actual published financial statements and integrated discussions of major ongoing IASB projects that may have significant impact on readers? responsibilities over the coming year. PKF is a global network of legally independent firms bound together by a shared commitment to quality, integrity and the creation of clarity in a complex regulatory environment. With offices in 440 cities, we operate in 150 countries across 5 continents and specialize in providing high quality audit, accounting, tax, and business advisory services to international and domestic organizations in all our markets. PKF International member firms have an aggregate fee income of $2.52 billion, and the network is a member of the Forum of Firms an organization dedicated to consistent and high quality standards of financial reporting and auditing practices worldwide.