Intermediate Accounting: IFRS Edition
2nd Edition

Intermediate Accounting: IFRS Edition
Donald E. Kieso
Jerry J. Weygandt, Terry D. Warfield

© 2015

The Second Edition of Intermediate Accounting: IFRS Edition, by Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield, provides the tools global accounting students need to understand what IFRS is and how it is applied in practice. The emphasis on fair value, the proper accounting for financial instruments, and the new developments related to leasing, revenue recognition, and financial statement presentation are examined in light of current practice.

This second edition is available with WileyPLUS, a research-based online environment for effective teaching and learning. WileyPLUS is packed with interactive study tools and resources, including the complete online textbook, to give your students more value for their money. WileyPLUS builds students’ confidence because it takes the guesswork out of studying by providing a clear roadmap; it tells them what to do, how to do it, and if they did it right. With WileyPLUS, students take more initiative.



  • This IFRS update is based on the structure and successful pedagogy of the market-leading US GAAP textbook Intermediate Accounting by Kieso, Weygandt, and Warfield, which is used by the majority of accounting programs at US universities and as a reference by thousands of global accounting professionals. 
  •  Reports & Financial Reporting Problems from Marks & Spencer, adidas, and Puma Annual offer students opportunities to apply their knowledge of accounting to real-life company analysis and comparison
  • Evolving Issues throughout the book reflect the constant changes in the accounting world, and help professors highlight and discuss areas in which they may be encountering controversy or nearing resolution.
  • Global Accounting Insights at the end of each chapter highlight similarities and differences between US GAAP and IFRS to increase student understanding.

  • Chapter 2: Conceptual Framework for Financial Reporting contains an updated discussion of the IASB's guidance related to the use of fair value in financial statements.
  • Chapter 4: Income Statement contains new sections on the one statement and two statement formats for reporting components of other comprehensive income.
  • Chapter 18: Revenue Recognition added to reflect the very recent IFRS on revenue recognition.
  • Chapter 23: Statement of Cashflows has been reorganised to prioritise relevant methods of preparing statements.
  • New Videos available on WileyPLUS include Lectures with Terry Warfield, Solution Walkthroughs, Applied Skills, and PowerPoint Lectures, all of which walk students through problem solving skills while introducing them to key concepts. 
  • Flash Cards and Crossword Puzzles offer additional review focusing on key terminology and concepts in each chapter.

Topics covered

  1. Financial Reporting and Accounting Standards
  2. Conceptual Framework for Financial Reporting
  3. The Accounting Information System
  4. Income Statement and Related Information
  5. Statement of Financial Position and Statement of Cash Flows
  6. Accounting and the Time Value of Money
  7. Cash and Receivables
  8. Valuation of Inventories: A Cost-Basis Approach
  9. Inventories: Additional Valuation Issues
  1. Acquisition and Disposition of Property, Plant, and Equipment
  2. Depreciation, Impairments, and Depletion
  3. Intangible Assets
  4. Current Liabilities, Provisions, and Contingencies
  5. Non-Current Liabilities
  6. Equity
  7. Dilutive Securities and Earnings per Share
  8. Investments
  9. Revenue Recognition
  10. Accounting for Income Taxes
  1. Accounting for Pensions and Postretirement Benefits
  2. Accounting for Leases
  3. Accounting Changes and Error Analysis
  4. Statement of Cash Flows
  5. Presentation and Disclosure in Financial Reporting


  1. Specimen Financial Statements: Marks and Spencer Group plc A-1
  2. Specimen Financial Statements: Adidas AG B-1
  3. Specimen Financial Statements: Puma SE C-1