Manual of accounting - IFRS

The comprehensive guide to International Financial Reporting Standards

Our purpose, across the PwC global network of firms, is to build trust in society and solve important problems. The Manual of Accounting - IFRS is our collected insights on the application of International Financial Reporting Standards (IFRS), the financial reporting language of the global capital markets.

PwC's Manual of accounting IFRS 2021 is a thorough guide to IFRSs issued by the International Accounting Standards Board (IASB), which translates often complex standards into practical guidance. Each chapter opens with an explanation of the requirements of the standards in clear language. Illustrative examples at the end of each chapter demonstrate the practical application of the principles of the standards.

Key updates in this edition include guidance on:

• Accounting implications of COVID-19
• Amendments to IAS 1, ‘Presentation of financial statements’, Classification of liabilities
• Cash flow statements - updates to FAQs, IFRIC agenda discussions and clarity of guidance over deferred/contingent consideration
• Amendments to IFRS 9, IAS 39, ‘Financial instruments’ and IFRS 7, ‘Financial instruments disclosure’, Interest rate benchmark reform
• Insurance - Amendments to IFRS 4
• Amendment to IFRS 16, 'Leases' on COVID-19 - Related rent concession
• Amendment to IFRS 17, ‘Insurance contracts’
• IASB amendments to IFRS 3, IAS 16, IAS 17 and annual improvements on IFRS 1, IFRS 9, IAS 41 and IFRS 16