International GAAP^® 2008

International GAAP^® 2008 is the only globally focused work on IFRS, written by financial reporting experts from Ernst & Young's International Financial Reporting Group. This new and essential volume of practical guidance and expert interpretation deals with every aspect of applying IFRS appropriately and effectively and includes a new chapter on Extractive Industries (mining, oil & gas), the biggest industry sector in the world.

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Observations on the Implementation of IFRS

Ernst & Young has just published the findings of a survey that looks at how 65 of the world's largest companies applied IFRS in their 2005 financial statements. Visit our global IFRS page to find out more...

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Thought Center webcasts

Business insights from Ernst & Young

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IFRS Alert

Visit our global page to download the latest issue of IFRS Alert, a supplement to Global EYe on IFRS 

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Good Group (International) Limited – Illustrative Interim Condensed Financial Statements

Good Group is a manufacturing company. It has a financial year-end of 31 December and publishes its half-year interim financial statements as at 30 June in accordance with IAS 34 . Its subsidiaries are incorporated and listed in Euroland, a fictitious European country.The Group’s functional and presentation currency is the euro. Each section of the financial statements is cross-referenced to a commentary to illustrate the significant IFRS requirements. This includes all IFRS requirements disclosed or undisclosed in the financial statements. Please note that the model accounts are illustrative and do not show all possible accounting and disclosure requirements, nor are they intended to satisfy country or stock market regulations in any given jurisdiction. They may also have to be significantly altered. Download the statements 1.9Mb, 29 pages

How Fair is ‘Fair Value’?

Subjective ‘fair value’ measurements of assets and liabilities could create confusion for investors and greater volatility in accounts prepared under the new international financial reporting standards (IFRS). This is according to an Ernst & Young report How Fair is Fair Value, which argues that the application of the fair value model should be limited to those assets that have real and determinable market values. Read the press release and download the report.   385K, May 2005.

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IFRS in individual company accounts

Ernst & Young's Financial Reporting Group has written a paper for companies who may be tempted to apply IFRS to all of their UK subsidiaries. Find out more 332K, October 2005.

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Summary of the IASB's proposals to amend IAS 37 and IAS 19

On 30 June 2005 the IASB issued an Exposure Draft proposing revisions to IAS 37 Provisions, Contingent Liabilities and Contingent Assets and IAS 19 Employee Benefits. A client publication is now available and includes an overview of the proposal and an explanation of the principal changes. Download the publication and the IAS 37 Exposure Draft 893K, August 2005.

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IASB's proposals for a new approach to business combinations and non-controlling interests

The Global IFRS publication summarising the Business combinations and Non-controlling interests Exposure Draft is now available, and contains a summary of the IASB's proposals for a new approach to business combinations and non-controlling interests. Download our publication 673K.

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GAAP under IFRS 2005: Illustrative IFRS financial statements

This publication contains the annual report of a mythical UK company and provides illustrative financial statements to help a first-time adopter in the UK comply with requirements in issue at 31 December 2005. Download the publication 1.9Mb, 340 pages, January 2006