Understanding IFRS across the organization is vita for its best impementation and taking mieage out of it. Non-finance Executives pay a key roe. Asset componentization, significance of major parts and minor parts, annua review of usefu ife and residua vaue, age-anaysis of inventories, nature of agreements and its accounting significance, impact of deayed payment or advance payment, impact of retention from bis, provisioning out of contractua obigations are some iustrative  areas wherein invovement of non-finance executives is essentia.

This book is written to suit the purpose of non-accountants.

Highights of some key topics:-

• IFRS principes
• Simpified discussion on IFRS Financia Statements
• Principe of fair vaue measurement of financia assets and iabiities incuding  oans to Empoyees, Advance to Contractors, Security Deposit or Retention Money
• Straight ine recognition of operating ease revenue
• Long term advance from customers and fair vaue based revenue recognition
• Principes of Receivabe Accounting or Intangibe Asset Accounting in Service Concession  Arrangements
• Determining whether an Arrangement contains a ease
• First Time Adoption of Indian Accounting Standards
• IFRS Carve Outs