International GAAP 2021 International GAAP 2021 is a detailed guide to interpreting and implementing International Financial Reporting Standards (IFRS). By setting IFRS in a relevant business context, it provides insights on how complex practical issues should be resolved in the real world of global financial reporting. This book is an essential tool for anyone applying, auditing, interpreting, regulating, studying or teaching IFRS. Written by EY financial reporting professionals from around the world, this three-volume guide to reporting under IFRS provides a global perspective on the application of IFRS. The book explains complex technical accounting issues clearly by setting IFRS in a practical context with numerous worked examples and hundreds of illustrations from the published financial reports of major listed companies from around the world. Volume 1 contains the following chapters and sections: International GAAPThe IASB's Conceptual FrameworkPresentation of financial statements and accounting policiesNon-current assets held for sale and discontinued operationsFirst-time adoptionConsolidated financial statementsConsolidation procedures and non-controlling interestsSeparate and individual financial statementsBusiness combinationsBusiness combinations under common controlInvestments in associates and joint venturesJoint arrangementsDisclosure of interests in other entitiesFair value measurementForeign exchangeHyperinflationIntangible assetsProperty, plant and equipmentInvestment propertyImpairment of fixed assets and goodwillCapitalisation of borrowing costsInventories Index of extracts from financial statements for all three volumesIndex of standards for all three volumesIndex for all three volumes This book is printed on acid-free paper, responsibly manufactured from well-managed FSC-certified forests and other controlled sources. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, legal or other professional advice. Please refer to your advisors for specific advice. ey.com/igaap