As the International Financial Reporting Standards Committee makes progress towards widespread acceptance and use of its standards and practices, the need to understand the new standards increases. Melville provides the tools for understanding the standards and offers expert guidance on how to implement them. Features of the book include interpretive guidance, coverage of every key International Financial Reporting Standard, and an unparalleled level of student interactivity and assessment.

The book provides a unique practical introduction to the requirements of the IFRS, outlining how the standards are used on a daily basis by companies in preparation of their financial statements. The author examines the use of IFRS from a practice orientation and looks at the main components of the financial statements, including questions of recognition and measurement of key financial statement components. Examples and practice questions are provided throughout the book to aid student understanding and provide a framework for grasping the key aspects of this complex and fast-moving subject.