This publication provides an illustrative set of consolidated financial statements - prepared in accordance with International Financial Reporting Standards (IFRS) - for a fictional manufacturing, wholesale, and retail group (IFRS GAAP plc). IFRS GAAP plc is an existing preparer of IFRS consolidated financial statements. The book is based on the requirements of IFRS standards and interpretations for financial years beginning on or after January 1, 2011. In addition to the appendices on IFRS 9 and first-time adoption, the latest edition includes appendices on agricultural assets, IFRSs 10 and 11, IFRS 13, and current and forthcoming requirements.

This publication provides examples of sets of accounts for the year ended 31 December 2011. Illustrating the required disclosure and presentation for UK groups and UK companies, these model accounts will help you prepare your financial statements whether you report under International Financial Reporting Standards (IFRS) or UK GAAP. In addition to the appendices on IFRS 9 and first-time adoption, the latest edition includes appendices on: Agricultural assets IFRSs 10 and 11 IFRS 13 and Current and forthcoming requirements.

UK GAAP Illustrative Financial Statements: FRS 102 Example Accounts (formerly: FRS 102 Illustrative Financial Statements) covers the financial statements of two fictional entities to illustrate the disclosure and presentation requirements of FRS 102 for a group and for a single entity, and also incorporate UK company law disclosures. It also includes commentary for preparers. This edition includes the following new illustrative financial statements: New UK GAAP Group Limited The financial statements include: . Income statement presentation of discontinued operations. . Detailed illustrative accounting policies for a group and commentary thereon. . Disclosures of acquisitions and acquisition accounting. . Disclosures of impairments of goodwill. Narrative reporting includes: . Strategic report and key principles of the FRC guidance for preparers. . Illustrative auditor's report for group reporting under FRS 102. New UK GAAP Limited The financial statements include: . Income statement and statement of comprehensive income. . Detailed illustrative accounting policies for a company and commentary thereon. . An example of group share based payment arrangement accounting. . Capitalisation of borrowing costs. . New FRS 102 financial instrument disclosures . Multi-employer pension scheme disclosures . Transition statement (using option 1 of FRC Staff Education Note) Narrative reporting includes: . Strategic report and key principles of the FRC guidance for preparers. . Illustrative auditor's report These illustrative financial statements include FRS 102 disclosures. They do not, however, include all possible disclosures and where necessary preparers will need to refer to the standard itself.

The text and images in this book are in grayscale. A hardback color version is available. Search for ISBN 9781680922929. Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today's college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the "why" as well as the "how" aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization.