الوصف
International GAAP 2008 refers to a comprehensive guide and reference work for the International Financial Reporting Standards (IFRS) and their application, published in 2008. “GAAP” stands for Generally Accepted Accounting Principles, and “International GAAP” specifically refers to the international standards set by the International Accounting Standards Board (IASB). These standards, known as IFRS, are used for preparing financial statements by businesses in many countries around the world.
The International GAAP 2008 book provided an authoritative resource that helped accountants, auditors, and financial professionals understand the application and interpretation of IFRS as they stood in 2008. It offered:
• A detailed overview of the IFRS standards.
• Guidance on how to implement them in practice.
• Explanations of individual standards, including International Accounting Standards (IAS) and their updates.
• Examples and case studies illustrating how the standards should be applied.
At the time of its release, International GAAP 2008 was widely used to bridge the gap between the local accounting principles (such as US GAAP) and international standards (IFRS). Since then, IFRS has continued to evolve and gain widespread adoption, especially as countries move toward harmonizing their accounting practices.
In short, International GAAP 2008 was an essential resource for understanding how IFRS should be implemented by businesses and accountants globally, particularly in a time when IFRS was transitioning to become the predominant global standard.