Dual Reporting for Equity and Other Comprehensive Income
This comprehensive handbook deals with the concept and precise techniques of dual reporting under IFRS/US GAAP, drawing out practical implications for reporting under both sets of standards. The handbook adopts an operating approach to ensure its practicality when guiding on implementation and application. Using the author's firsthand experience as an expert practitioner in dual reporting, the book is a technical aid to management decision making, and shows how the requirements of IFRS adoption and the systemic changes businesses will need to make in order to accommodate them, can give competitive advantage. Beginning with an overview of issues surrounding IFRS transition, the Handbook goes on to compare the two bodies of standards against each other, at an item-by-item level, in order to identify solutions under one set of standards to issues arising under the other - allowing the reader to find answers to uncertainty. An important part of the book consists of a rich resource of tools for dual reporting, including guidance on financial statement formatting, charts of accounts, accounting check-lists, reconciliation schedules, and operating manuals. The final part of the book looks at structuring the company for IFRS transition, giving detailed operational guidance on the strategic impact of the change.