A student's guide to International Financial Reporting Standards

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I was exempted from ACCA F3, on account of passing AAT some time ago.I scraped a 50 in F7 via a bit of knowledge and a lot of exam technique, and flunked P2 the following year.Subsequently I have discovered this book. It is is proving invaluable in filling the gaps in my fundamental knowledge. You need this in order to progress through the professional stage. It is assumed in all the professional papers.I would give this book the highest recommendation for providing up to date overview in a language you can understand. There is a conversational tone that you actually want to read.IFRS can be a pretty dry subject, and the level of detail presented by the manuals can be daunting. There is a base level of literacy required before you can even read the things, and this book will give you that.There is also the very welcome inclusion of real world illustrations of events that contributed to our current reporting environment. This helps give some colour to the subject matter. Most standards appear dull in essence, but the accounting/ business misdemeanours that contributed to their development are fascinating. Knowing this makes the reporting environment an interesting place to inhabit.This is one of very few accountancy text books that makes you smile.

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The book comes from Kaplan publishing, the publishers of excellent study texts for supervisory bodies such as the ACCA.From this heritage I was expecting an offering at a higher level, offering insight into the detail of the various International Financial Reporting Standards, however, I was quite disappointed in this book.It is very glossy and quite well laid out but is aimed firmly at the GCSE market and comes accross very much as the Ladybird book of IFRS with short descriptions and lots of pictures and diagrams and colour coding... Not really the sort of approach one expects for this type of subject matter!Note, this is definitely not a book for those studying for professional qualifications. I'm currently doing ACCA P2 and it is not at all suitable for that level of study. It does not go to the level that I needed to study at F7 but it will cover everything that is needed as an introduction to IFRS at F3.I was going to give give this book two stars rather than one as for very basic knowledge of understanding which standard does what it is a sound introduction. Users will come away from this knowing the names of the standards. They will not however be prepared for higher level exams which require people to read the detail of standards.However, is it just me or has anyone else noticed that all of the people giving this 5 star reviews have reviewed only this book? I could be wrong but I feel that some of the 5 star reviewers may not be as independant as they at first appear.Although twice the price, if you are serious about learning IFRS go for  Applying International Financial Reporting Standards (Jacaranda)  which still puts things in an easy to understand manner but contains at least twenty times as much information (I bought it on recommendation after being disappointed by this book and really wish that I had gone straight for that in the first place).As mentioned above. If you are doing GCSE accountancy and just want a very basic knowledge as to which standard does what then this book is fine.If you want to understand the standards or if you are studying for higher level qualifications then go for Applying International Financial Reporting Standards which is more than worth the extra investment.Good luck with your studies regardless as to whichever book you eventually purchase.

Purchased to help me with my ACCA P2 exam as a reminder of some of the accounting standards. It has really clear explanations and I feel that it helped me. It's handy to refer to when the BPP books don't give a good enough explanation. I think it would be great for ACCA F7 or AAT exams. Clare Finch was fab too, as at the time this was slightly out of date but the new book wasn't published, so she emailed me the updates. I passed first time!

This book is the reason why I passed my financial reporting exam with 60%, opposed to the low 40's people were getting. I would have gotten higher if I didn't listen to the lecture and used this book. Either way I'm not going to take the F7 exemption and will sit the module, which is where this book will become useful.Best of all, unlike other text books, It doesn't have 15 pages of theory with only half a page that is relevant to you.

I bought this book at the recommendation of a teacher who said a student recommended.Reading through and I said to myself I should have gotten this book when I did F7 as well.The details are very clear, simplified with real life examples and reasons as to why the standard are in place or revised.Though standards may change over time, this book is a must have.I would recommend this book to anybody taking professional ACCA exams.

This book is much better than standard ACCA textbook. Standards are explained in simple terms and in a detailed manner. I recommend it to everyone who will be appearing in F7 exam. It will also help you in p2 and p7 exams. Definitely worth it.