International GAAP® 2007 has been specifically written to provide the necessary interpretation and guidance on the practical application of the new international financial reporting regime. As such, it is an essential companion to the Official IFRS™ Bound Volume . International GAAP® 2007 not only explains the IASB's standards, it goes much further. It interprets the standards, sets them in context and gives the proper treatment of the relevant accounting issues not directly addressed by the standards themselves. Written by the International Financial Reporting Group of Ernst & Young, this new edition in the International GAAP® series serves as a successor to the same authors' market-dominating UK GAAP and UK & International GAAP - acclaimed as "A standard reference work" (Financial Times) and "The definitive guide to financial reporting" (The Times). International GAAP® 2007 is indispensable for anyone involved in preparing, interpreting or auditing company accounts and for all students of accountancy.