The large-scale, global adoption of the International Financial Reporting Standards (IFRS) has created an urgent need for a one-step resource with lucid explanations and comprehensive guidance of these complex standards. This reference guide includes easy-to-understand explanations of IFRS/IAS standards, case studies with solutions, and illustrations with multiple choice questions and solutions. The book facilitates understanding of the practical implementation issues involved in applying these complex principles-based standards. Preparers of financial statements, accountants, finance professionals, auditors, financial analysts, and candidates preparing for the IFRS/IAS certification will find this guide indispensable.