Financial Accounting, IFRS Edition, Second Edition serves as a guide for students to comprehend and give insights into accounting of the modern business world. This textbook will focus on core concepts and procedures based on the International Financial Reporting Standards (IFRS) and supported by real company examples including those in Asia. The latest IFRS amendments are in this edition, specifically IFRS 9 and IFRS 15 will become effective beginning on January 1, 2018. IFRS 15, in a major overhaul of rules on revenue recognition, will replace IAS 18 (Revenue) and IAS 11 (Construction Contracts) and related interpretations. It establishes a contract-based approach to determine the recognition and measurement of revenue. IFRS 9 will replace IAS 39 (Financial Instruments) and contains new requirements on the classification and measurement of financial assets. Students will learn to effectively use and prepare accounting information for decision making with various features that encourage critical thinking, highlight ethical considerations, and consider global implications. Emphasizing the relevancy of accounting to the business world, the text also makes a concerted effort to highlight the ethical considerations and global implications of financial accounting decisions in our world.