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Tables of Contents for Corporate Financial Reporting
Chapter/Section Title
Page #
Page Count
List of figuresList of tables
About the authors
xix
Preface
xxi
Acknowledgments
xxv
I Introduction to financial accounting
1
204
Accounting: The language of business
3
40
A model of business activity
3
1
Accounting: a language for business
4
7
Core Issues
11
16
Definition of financial accounting
11
3
Users of financial accounting
14
3
Financial reporting standards
17
3
Introduction to the accounting process
20
7
Advanced Issues
27
9
Financial accounting and managerial accounting
27
1
Qualitative characteristics of useful financial statements
28
5
History of accounting: from Sumer to Luca Pacioli
33
3
Key points
36
1
Review
36
1
Assignments
37
6
Introduction to financial statements
43
48
Core Issues
44
22
Balance sheet or statement of financial position
44
2
Basic business equation or balance sheet equation
46
14
Income statement
60
5
Notes to financial statements
65
1
Advanced Issues
66
15
Notion of depreciation
66
3
Profit appropriation
69
2
Consumption of resources and inventory
71
8
Financial statement analysis
79
2
Key points
81
1
Review
81
4
Assignments
85
6
Financial statements presentation
91
48
Core Issues
92
15
Balance sheet
92
5
Income statement
97
3
Notes to financial statements
100
2
Cash flow statement
102
4
Annual report
106
1
Advanced Issues
107
6
Balance sheet
107
2
Income statement
109
2
Terminology
111
2
Key points
113
1
Review
113
5
Assignments
118
21
The accounting process
139
26
Core Issues
139
13
Double entry bookkeeping and the recording of transactions
139
4
The accounting process
143
9
Advanced Issues
152
2
Organization of the accounting system
152
1
The chart of accounts
152
2
Key points
154
1
Review
155
8
Assignments
163
2
Accounting principles and end-of-period adjustments
165
40
Core Issues
166
17
Accounting principles
166
9
End-of-period entries
175
8
Advanced Issues
183
7
Recording of adjusting entries
184
5
Correction of errors
189
1
Ending inventory
189
1
Closing entries
189
1
Limitations on the applicability of accounting principles
190
1
Key points
190
1
Review
191
3
Assignments
194
11
II International and comparative accounting: A topical approach
205
322
Revenue recognition issues
207
40
Core Issues
208
17
Issues of revenue recognition
208
5
Accounting for differences in net income calculations originating from diverging reporting and tax regulations
213
12
Advanced Issues
225
14
Long-term contracts
225
2
Installment sales
227
1
Deferred taxation
227
2
Extraordinary and exceptional items
229
1
Changes in accounting estimates
230
1
Fundamental errors
230
1
Changes in accounting policies
231
1
Discontinuing operations
232
2
Comprehensive income
234
2
Government assistance: grants and subsidies
236
3
Key points
239
1
Review
239
3
Assignments
242
5
Tangible fixed assets
247
40
Core Issues
248
15
Categories of fixed assets
248
2
Definition of tangible fixed assets
250
3
Cost of acquisition
253
1
Depreciation
254
9
Advanced Issues
263
16
Definition and recognition of tangible assets
263
4
Depreciation: additional methods
267
7
Costs subsequent to acquisition
274
1
Disposal of long-term assets
275
1
Financial aspects of tangible assets
276
3
Key points
279
1
Review
280
1
Assignments
281
6
Intangible assets
287
32
Core Issues
288
15
Definition of intangibles
289
8
Recognition of intangible assets
297
1
Reporting of changes in intangible assets' value
298
5
Advanced Issues
303
8
Accounting for research and development
303
5
Accounting for computer software
308
1
Finacial statement analysis
309
2
Key points
311
1
Review
311
2
Assignments
313
6
Inventories
319
34
Core Issues
320
15
Classification of inventories
320
5
Inventory recording systems
325
4
Inventory valuation and reported income
329
6
Advanced Issues
335
7
Effect of an inventory misstatement
335
1
Inventories and cash flow
335
1
Decline in value (end-of-year adjustments)
336
1
Income statement by nature and income statement by function
337
1
Disclosure of inventory valuation policies
338
2
Financial statement analysis pertaining to inventories
340
2
Key points
342
1
Review
343
1
Assignments
344
9
Current assets other than inventories
353
28
Core Issues
353
15
Accounts receivable or ``receivables''
354
8
Current investments
362
4
Cash and cash equivalents
366
2
Advanced Issues
368
4
Notes receivable
368
2
Sales returns
370
1
Financial statement analysis
371
1
Key points
372
1
Review
373
2
Assignments
375
6
Shareholders' equity
381
48
Core Issues
382
16
Forms of business organization
382
3
Share capital
385
6
Profit appropriation
391
7
Advanced Issues
398
17
Accounting issuance of shares for non-cash capital contributions
398
3
Accounting for share issuance costs
401
1
Capital reduction
401
1
Treasury shares (or own shares or treasury stock)
402
3
Stock options plan (``share options plan'')
405
1
Share dividend and dividend in kind
406
1
Comprehensive income
407
1
Change in shareholders' equity
408
4
Financial statement analysis
412
3
Key points
415
1
Review
416
3
Assignments
419
10
Liabilities and provisions
429
52
Core Issues
430
19
Definitions
430
1
The current/non-current distinction
431
2
Relative weight of liabilities in the balance sheet
433
2
Long-term liabilities
435
1
Accounting for current liabilities
436
4
Reporting liabilities
440
2
Liabilities, provisions, and contingent liabilities
442
7
Advanced Issues
449
16
Bonds
449
5
Leased assets
454
7
Environmental liability
461
1
Employee benefits and pension accounting
461
3
Financial statement analysis
464
1
Key points
465
1
Review
466
4
Assignments
470
11
Financial fixed assets and business combinations
481
46
Core Issues
483
21
Types of financial fixed asset
483
1
Treatment of changes in value
484
1
Business combinations: principles and methods
484
20
Advanced Issues
504
6
Consolidation process
505
1
Deferred taxation on consolidation
506
1
Foreign currency translations
507
1
Legal mergers
507
3
Key points
510
1
Review
511
2
Assignments
513
14
III Financial statement analysis
527
98
Cash flow statement
529
44
Core Issues
530
20
Structure of the cash flow statement
530
1
Usefulness of the cash flow statement
530
2
Contents of the activities
532
1
Calculating cash flows from operating activities
533
1
Cash and cash equivalents
534
2
Example of a cash flow statement
536
2
Preparation of a cash flow statement
538
11
Reporting
549
1
Advanced Issues
550
4
Differences in classification
550
1
Non-cash investing and financing transactions
551
1
Funds flow statement or statement of changes in financial position
552
1
Different titles and different models
552
1
Analysis of the cash flow statement
552
2
Key points
554
1
Review
555
8
Assignments
563
10
Financial statement analysis
573
52
Core Issues
574
17
Trend analysis
575
1
Common-size (or vertical) analysis
575
9
Ratio analysis
584
7
Advanced Issues
591
14
Sources of information about companies
591
1
Measures of return to investors
592
6
Segment reporting
598
3
Accounts manipulation and quality of financial statements
601
3
Scoring models
604
1
Key points
605
1
Review
606
6
Assignments
612
13
Index
625
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