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The Accountant's IFRS Quick Reference: 24 Standards Summarized for Working Accountants, Including the New IFRS 18

by Palgun Reddy

A structured desk reference to IFRS standards

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AlbakiReads Editorial

A structured desk reference to IFRS standards

Built for quick consultation, the book organizes 24 IFRS and IAS standards under a consistent set of headings: scope, definitions, recognition, measurement, presentation and disclosure, areas of judgment, common errors, and a decision test. Its coverage ranges from revenue, leases, assets, and financial instruments to groups and the Conceptual Framework, with tables comparing measurement bases, recognition thresholds, and treatment of gains and losses. A dedicated entry addresses IFRS 18, including its income-statement categories, operating profit subtotal, and management-defined performance measures. The publisher describes it as a reminder for people who already know accounting, not as a textbook; it also states that the summaries are not a substitute for the standards or professional advice.

Good fit for readers who enjoy

  • Working accountants, controllers, and finance managers seeking a concise standards reference.
  • Candidates studying accounting qualifications including ACCA, CIMA, CA, CPA, or ICAEW.
  • Readers who want structured summaries and comparison tables across IFRS and IAS topics.

Themes

IFRS and IAS standardsFinancial reporting and disclosureAccounting judgment and recognitionIFRS 18

Based on publisher information and book metadata.

Book overview

You know which standard applies. You just need to remember what it says.

Every entry in this book follows the same eight headings: scope, key definitions, recognition, measurement, presentation and disclosure, where judgement lives, common errors, and a quick decision test. Learn the structure once and you can navigate any standard in the book in seconds.

Written for people who already know accounting and need a fast, reliable reminder - not a textbook.

Including the new IFRS 18

IFRS 18 replaces IAS 1 for periods beginning on or after 1 January 2027. Because it requires full retrospective application, the 2026 comparative period is already running. This book includes a complete entry on the new income statement categories, the mandatory operating profit subtotal, management-defined performance measures, and what to do before the effective date arrives.

24 standards covered

Presentation: IAS 1, IFRS 18, IAS 7, IAS 8, IAS 10, IFRS 8
Revenue and leases: IFRS 15, IFRS 16
Assets: IAS 2, IAS 16, IAS 38, IAS 36, IAS 40, IFRS 5
Liabilities: IAS 37, IAS 19, IFRS 2
Financial instruments: IFRS 9, IFRS 7
Tax and currency: IAS 12, IAS 21
Groups: IFRS 3, IFRS 10, IFRS 11, IAS 28
Other: IAS 24, the Conceptual Framework, the IFRS for SMEs Standard

Plus quick-reference tables
  • Where each gain and loss goes - profit or loss, OCI recycled, or OCI never recycled
  • Which measurement basis applies, and why the wording differs between standards
  • Retrospective or prospective - what gets restated and what does not
  • What each recognition threshold means: virtually certain, highly probable, reasonably certain, probable, possible, remote
Who it is for

Accountants in practice and industry, financial controllers, finance managers preparing or reviewing statutory accounts, and candidates studying for ACCA, CIMA, CA, CPA or ICAEW qualifications.

An independent publication. Not affiliated with, authorised by or endorsed by the IFRS Foundation. IFRS and IAS are trade marks of the IFRS Foundation. This book summarises standards in the author's own words and does not reproduce their text. It is not accounting, audit, tax or legal advice - always read the standard itself before relying on a treatment.

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