Financial accounting : an international introduction

By: Alexander, DavidContributor(s): Nobes, ChristopherMaterial type: TextTextPublication details: Essex: Pearson Education, 2010Edition: 4th EdDescription: xviii, 477 pagesISBN: 9780273721642; 027372164XSubject(s): Accounting | Financial statementsDDC classification: 657.48
Contents:
Machine generated contents note: pt. 1 THE CONTEXT OF ACCOUNTING -- 1.Introduction -- Objectives -- 1.1.Purposes and users of accounting -- 1.2.Accounting regulation and the accountancy profession -- 1.3.Language -- 1.4.Excitement in accounting -- 1.5.The path ahead -- Summary -- Exercises -- 2.Some fundamentals -- Objectives -- 2.1.Introduction -- 2.2.The balance sheet -- 2.3.The income statement -- 2.4.Two simple equations -- 2.5.How cash flows fit in -- Summary -- Exercises -- 3.Frameworks and concepts -- Objectives -- 3.1.Introduction -- 3.2.Underlying concepts -- 3.3.The IASB's concepts -- 3.4.A hierarchy of concepts and some inconsistencies -- 3.5.Possible future developments -- Summary -- References and research -- Exercises -- 4.The regulation of accounting -- Objectives -- 4.1.Introduction: various ways to regulate accounting -- 4.2.Legal systems -- 4.3.Entities -- 4.4.Examples of regulation -- 4.5.The regulation of International Standards -- Summary Note continued: References and research -- Exercises -- 5.International differences and harmonization -- Objectives -- 5.1.Introduction: the international nature of the development of accounting -- 5.2.Classification -- 5.3.Influences on differences -- 5.4.Harmonization in the European Union -- 5.5.The International Accounting Standards Board -- Summary -- References and research -- Exercises -- 6.The contents of financial statements -- Objectives -- 6.1.Introduction -- 6.2.Balance sheets (statements of financial position) -- 6.3.Comprehensive income -- 6.4.Statements of changes in equity -- 6.5.Cash flow statements -- 6.6.Notes to the financial statements -- 6.7.Other general disclosure requirements -- Summary -- References and research -- Exercises -- 7.Financial statement analysis -- Objectives -- 7.1.Introduction -- 7.2.Ratios and percentages -- 7.3.Profit ratios -- 7.4.Profitability ratios -- 7.5.Liquidity ratios -- 7.6.Interest cover Note continued: 7.7.Funds' management ratios -- 7.8.Introduction to investment ratios -- 7.9.Some general issues -- Summary -- Exercises -- pt. 2 FINANCIAL REPORTING ISSUES -- 8.Recognition and measurement of the elements of financial statements -- Objectives -- 8.1.Introduction -- 8.2.Primacy of definitions -- 8.3.Hierarchy of decisions -- 8.4.Income recognition -- Summary -- References and research -- Exercises -- 9.Tangible and intangible fixed assets -- Objectives -- 9.1.Preamble: a tale of two companies -- 9.2.Introduction -- 9.3.The recognition of assets -- 9.4.Should leased assets be recognized? -- 9.5.Depreciation of cost -- 9.6.Impairment -- 9.7.Measurement based on revaluation -- 9.8.Investment properties -- Summary -- References and research -- Exercises -- 10.Inventories -- Objectives -- 10.1.Introduction -- 10.2.Counting inventory -- 10.3.Valuation of inventory at historical cost -- 10.4.Inventory flow -- 10.5.Other cost methods Note continued: 10.6.Valuation of inventory using output values -- 10.7.Practice -- 10.8.Current replacement cost -- 10.9.Construction contracts -- 10.10.Construction contracts in practice -- Summary -- References and research -- Exercises -- 11.Financial assets, liabilities and equity -- Objectives -- 11.1.Introduction -- 11.2.Cash and receivables -- 11.3.Investments -- 11.4.Liabilities -- 11.5.Equity -- 11.6.Reserves and provisions -- 11.7.Comparisons of debt and equity -- Summary -- References and research -- Exercises -- 12.Accounting and taxation -- Objectives -- 12.1.Introduction -- 12.2.International differences in the determination of taxable income -- 12.3.Tax rates and tax expense -- 12.4.Deferred tax -- Summary -- References and research -- Exercises -- 13.Cash flow statements -- Objectives -- 13.1.Introduction -- 13.2.An outline of the IAS 7 approach -- 13.3.Reporting cash flows from operating activities -- 13.4.The preparation of cash flow statements Note continued: 13.5.A real example -- Summary -- References and research -- Exercises -- 14.Group accounting -- Objectives -- 14.1.Introduction: the group -- 14.2.Investments related to the group -- 14.3.Accounting for the group -- 14.4.Uniting of interests -- 14.5.Proportional consolidation -- 14.6.The equity method -- 14.7.Conclusion on group relationships -- Summary -- References and research -- Exercises -- 15.Foreign currency translation -- Objectives -- 15.1.Introduction -- 15.2.Transactions -- 15.3.Translation of financial statements -- 15.4.A numerical illustration -- Summary -- References and research -- Exercises -- 16.Accounting for price changes -- Objectives -- 16.1.Introduction -- 16.2.Effects of price changes on accounting -- 16.3.European disagreement -- 16.4.General or specific adjustment -- 16.5.General price-level adjusted systems -- 16.6.Current value accounting -- 16.7.Mixed values -- deprival value -- 16.8.Partial adjustments -- 16.9.Fair values Note continued: Summary -- References and research -- Exercises -- pt. 3 ANALYSIS -- 17.Financial appraisal -- Objectives -- 17.1.Introduction -- 17.2.More on investment ratios -- 17.3.Interpreting the balance sheet -- 17.4.Valuation through expectations -- 17.5.Valuation through market values -- 17.6.Accounting policies and financial appraisal -- Summary -- References and research -- Exercises -- 18.International analysis -- Objectives -- 18.1.Introduction -- 18.2.Language -- 18.3.Differences in financial culture -- 18.4.Accounting differences -- 18.5.Help by multinationals -- 18.6.Increasing international harmonization -- Summary -- References and research -- Exercises -- Annex: GlaxoSmithKline plc: Note on reconciliation from IFRS to US GAAP -- Appendices -- A.Double-entry bookkeeping -- B.An outline of the content of International Financial Reporting Standards Note continued: C.An outline of the content of the EU's Fourth Directive on Company Law (as amended in 2001, 2003, etc.) -- D.Feedback on exercises.
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Includes index

Machine generated contents note: pt. 1 THE CONTEXT OF ACCOUNTING --
1.Introduction --
Objectives --
1.1.Purposes and users of accounting --
1.2.Accounting regulation and the accountancy profession --
1.3.Language --
1.4.Excitement in accounting --
1.5.The path ahead --
Summary --
Exercises --
2.Some fundamentals --
Objectives --
2.1.Introduction --
2.2.The balance sheet --
2.3.The income statement --
2.4.Two simple equations --
2.5.How cash flows fit in --
Summary --
Exercises --
3.Frameworks and concepts --
Objectives --
3.1.Introduction --
3.2.Underlying concepts --
3.3.The IASB's concepts --
3.4.A hierarchy of concepts and some inconsistencies --
3.5.Possible future developments --
Summary --
References and research --
Exercises --
4.The regulation of accounting --
Objectives --
4.1.Introduction: various ways to regulate accounting --
4.2.Legal systems --
4.3.Entities --
4.4.Examples of regulation --
4.5.The regulation of International Standards --
Summary Note continued: References and research --
Exercises --
5.International differences and harmonization --
Objectives --
5.1.Introduction: the international nature of the development of accounting --
5.2.Classification --
5.3.Influences on differences --
5.4.Harmonization in the European Union --
5.5.The International Accounting Standards Board --
Summary --
References and research --
Exercises --
6.The contents of financial statements --
Objectives --
6.1.Introduction --
6.2.Balance sheets (statements of financial position) --
6.3.Comprehensive income --
6.4.Statements of changes in equity --
6.5.Cash flow statements --
6.6.Notes to the financial statements --
6.7.Other general disclosure requirements --
Summary --
References and research --
Exercises --
7.Financial statement analysis --
Objectives --
7.1.Introduction --
7.2.Ratios and percentages --
7.3.Profit ratios --
7.4.Profitability ratios --
7.5.Liquidity ratios --
7.6.Interest cover Note continued: 7.7.Funds' management ratios --
7.8.Introduction to investment ratios --
7.9.Some general issues --
Summary --
Exercises --
pt. 2 FINANCIAL REPORTING ISSUES --
8.Recognition and measurement of the elements of financial statements --
Objectives --
8.1.Introduction --
8.2.Primacy of definitions --
8.3.Hierarchy of decisions --
8.4.Income recognition --
Summary --
References and research --
Exercises --
9.Tangible and intangible fixed assets --
Objectives --
9.1.Preamble: a tale of two companies --
9.2.Introduction --
9.3.The recognition of assets --
9.4.Should leased assets be recognized? --
9.5.Depreciation of cost --
9.6.Impairment --
9.7.Measurement based on revaluation --
9.8.Investment properties --
Summary --
References and research --
Exercises --
10.Inventories --
Objectives --
10.1.Introduction --
10.2.Counting inventory --
10.3.Valuation of inventory at historical cost --
10.4.Inventory flow --
10.5.Other cost methods Note continued: 10.6.Valuation of inventory using output values --
10.7.Practice --
10.8.Current replacement cost --
10.9.Construction contracts --
10.10.Construction contracts in practice --
Summary --
References and research --
Exercises --
11.Financial assets, liabilities and equity --
Objectives --
11.1.Introduction --
11.2.Cash and receivables --
11.3.Investments --
11.4.Liabilities --
11.5.Equity --
11.6.Reserves and provisions --
11.7.Comparisons of debt and equity --
Summary --
References and research --
Exercises --
12.Accounting and taxation --
Objectives --
12.1.Introduction --
12.2.International differences in the determination of taxable income --
12.3.Tax rates and tax expense --
12.4.Deferred tax --
Summary --
References and research --
Exercises --
13.Cash flow statements --
Objectives --
13.1.Introduction --
13.2.An outline of the IAS 7 approach --
13.3.Reporting cash flows from operating activities --
13.4.The preparation of cash flow statements Note continued: 13.5.A real example --
Summary --
References and research --
Exercises --
14.Group accounting --
Objectives --
14.1.Introduction: the group --
14.2.Investments related to the group --
14.3.Accounting for the group --
14.4.Uniting of interests --
14.5.Proportional consolidation --
14.6.The equity method --
14.7.Conclusion on group relationships --
Summary --
References and research --
Exercises --
15.Foreign currency translation --
Objectives --
15.1.Introduction --
15.2.Transactions --
15.3.Translation of financial statements --
15.4.A numerical illustration --
Summary --
References and research --
Exercises --
16.Accounting for price changes --
Objectives --
16.1.Introduction --
16.2.Effects of price changes on accounting --
16.3.European disagreement --
16.4.General or specific adjustment --
16.5.General price-level adjusted systems --
16.6.Current value accounting --
16.7.Mixed values --
deprival value --
16.8.Partial adjustments --
16.9.Fair values Note continued: Summary --
References and research --
Exercises --
pt. 3 ANALYSIS --
17.Financial appraisal --
Objectives --
17.1.Introduction --
17.2.More on investment ratios --
17.3.Interpreting the balance sheet --
17.4.Valuation through expectations --
17.5.Valuation through market values --
17.6.Accounting policies and financial appraisal --
Summary --
References and research --
Exercises --
18.International analysis --
Objectives --
18.1.Introduction --
18.2.Language --
18.3.Differences in financial culture --
18.4.Accounting differences --
18.5.Help by multinationals --
18.6.Increasing international harmonization --
Summary --
References and research --
Exercises --
Annex: GlaxoSmithKline plc: Note on reconciliation from IFRS to US GAAP --
Appendices --
A.Double-entry bookkeeping --
B.An outline of the content of International Financial Reporting Standards Note continued: C.An outline of the content of the EU's Fourth Directive on Company Law (as amended in 2001, 2003, etc.) --
D.Feedback on exercises.

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