Intermediate Financial Reporting: An IFRS Perspective (2nd Edition)

Mr. Nelson Lam and Dr. Peter Lau, McGraw-Hill Education Asia.

About the Book

Intermediate Financial Reporting: an IFRS Perspective (2nd Edition) explains the financial reporting concepts, accounting treatments and requirements, and preparation and presentation of financial statements encountered in the corporate or individual entity level by using the most updated International Financial Reporting Standards.

This book is suitable for students, lecturers and practitioners. Students and lecturers should find this a good textbook for undergraduate and postgraduate intermediate and advanced accounting and financial reporting courses. Users and preparers of financial reports will find the concepts and explanations useful in their daily work, and they can use the book as a guide in analysing, auditing and preparing their financial reports.

This book published in Singapore is currently used by universities and professionals in Hong Kong, Singapore, South Korea, and other Asian cities.

Key Features:
- Latest coverage of IFRSs, including IFRS 9 and IFRS 13
- Numerous illustrative examples
- Real-life cases sourced from countries around the world
- Exercises, problems and case studies

About the Authors

Mr. Nelson Lam
Mr. Nelson Lam is a popular speaker and consultant in International Financial Reporting Standards (IFRSs) and Hong Kong Financial Reporting Standards (HKFRSs) in Greater China and the Asia Pacific, including Mainland China, Hong Kong, Korea and Macau. Mr. Lam obtained his MBA degree from the Hong Kong University of Science and Technology, his MSc degree in finance from the Chinese University of Hong Kong and his BBA (Hons) degree from the Hong Kong Baptist University. He regularly provides consultancy services and corporate training on issues relating to IFRSs and HKFRSs to different listed and private entities, professional bodies and universities in Asia, having been involved in over 300 engagements, conferences, seminars and workshop in relation to IFRSs and HKFRSs in Asia since 2005. His firm’s website contains his presentation materials (over 400 sets of PDF file) for free public download. He is currently a Visiting Associate Professor at the Beijing Normal University and Hong Kong Baptist University – United International College in Zhuhai, PRC.

In 2001, by using the then latest IFRSs and HKFRSs in analysing one of the largest takeover cases in Asia, Mr. Lam was the winner in an accounting case competition, which consisted of entries from professors of different universities. He is now an external assessor of Module A: Financial Reporting and a Master Workshop Facilitator of the Qualification Programme run by the Hong Kong Institute of Certified Public Accountants (HKICPA). In recognition of his contribution to the professional examination, the HKICPA presented him the Master Workshop Facilitator Award in 2004 and 2007. Mr. Lam is also a member of the Financial Reporting Review Panel in Hong Kong, the chairman of the Accounting and Auditing Standards Committee of the Society of Chinese Accountants and Auditors, and a member of the Financial Reporting Standards Committee of the HKICPA. He is a guest lecturer and speaker in financial reporting subjects in several universities and the co-author of Auditing and Assurance in Hong Kong (with Dr. Peter Lau).

Dr. Peter Lau
Dr. Peter Lau is Associate Dean and BBA Programme Director at the Hong Kong Baptist University. He is an independent non-executive director of Hanison Construction Holdings Limited, which is listed on the Main Board of the Hong Kong Stock Exchange. He received his Bachelor of Commerce (summa cum laude) in accounting from Saint Mary’s University, his MBA from Dalhousie University and his PhD in accounting from the Chinese University of Hong Kong. He is a Chartered Accountant (Canada), a Certified Management Accountant (Canada), a Fellow of the Hong Kong Institute of Certified Public Accountants (HKICPA), and an Associate of the Taxation Institute of Hong Kong.

Dr. Lau has more than 20 years of experience in teaching both graduate and undergraduate degree courses and conducting workshops, revision courses and examination assistance seminars for various accounting and auditing papers of the ACCA and HKICPA examinations. He is now an examiner of Module C: Auditing and Information Management of the Qualification Programme of the HKICPA. Dr Lau is also an external examiner for various accounting programmes of the University of Hong Kong and the Open University of Hong Kong. He has published over 20 papers in the areas of accounting, auditing and taxation. He is the co-author of Auditing and Assurance in Hong Kong (with Mr. Nelson Lam) and Hong Kong Auditing (with Mr. Millichamp A.).

Table of Contents

Part I Conceptual and Regulatory Framework
1. Financial Reporting and International Financial Reporting Standards
2. Conceptual Framework for Financial Reporting

Part II Elements of Financial Statements – Assets
3. Property, Plant and Equipment
4. Leases
5. Investment Property
6. Intangible Assets
7. Borrowing Costs
8. Impairment of Assets
9. Inventories
10. Construction Contracts

Part III Elements of Financial Statements – Liabilities, Equity, Income and Expenses
11. Revenue
12. Employee Benefits
13. Income Taxes
14. Provisions and Contingencies

Part IV Financial Instruments
15. Financial Instruments – An Introduction
16. Financial Assets
17. Financial Liabilities and Derecognition
18. Financial Instruments –Presentation and Disclosure

Part V Presentation of Financial Statements and Related Topics
19. Presentation of Financial Statements
20. Accounting Policies, Changes in Accounting Estimates and Errors
21. Events after the Reporting Period
22. Non-current Assets Held for Sale and Discontinued Operations
23. The Effects of Changes in Foreign Exchange Rates
24. Statement of Cash Flows
25. Fair Value Measurement