1. Edition January 2010 55.90 Euro 2010. 392 Pages, Softcover ISBN 978-0-470-69503-6 - John Wiley & Sons
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Short description While most books on financial reporting deal with the technicalities of the regulation of financial reporting, their primary focus remains the implementation of the rules, not the reasoning behind them. This striking new approach to the subject not only helps the reader appreciate the effects of the rules, but also the reasoning and history behind their development. Combining practical coverage with an approachable scholarly framework destined to appeal to all readers, this practical guide has a Web site containing solutions to questions in the text, as well as additional questions and solutions.
From the contents * Published Accounts * Introduction * Enron - an extreme case of bad accounting * Principals and agents * Presentation of financial statements * Preparing a set of financial statements * Some important points about preparing the statements * Summary * Appendix - basic bookkeeping and property, plant and equipment * Tutorial questions * Questions with answers
* Overview of Regulation * Introduction * A brief history * Standard setting in the UK * International standards * Standard setting in the real world 2/10 * The external auditor * Summary * Tutorial questions
* Form and Context of an Annual Report * Introduction * Preparing financial statements in the real world * Avoiding headaches * Summary * Tutorial questions
* Academic Research and Reporting Regulation * Introduction * Sources of information and understanding * The Accounting literature * Positive research * Critical research * "Business accounting" * Summary * Tutorial questions
* The Conceptual Framework * Introduction * The need for a conceptual framework * The quest for a conceptual framework * Do we have a conceptual framework? * Summary * Tutorial questions
* Accounting for tax * Introduction * Some basic tax rules * Dealing with forecasting errors * IAS 12 - Income Taxes * Deferred tax * A word about timing differences * The history of deferred tax in the UK * IAS 12 and deferred tax * Presentation requirements * Summary * Tutorial questions
* Reporting Earnings and Earnings Quality * Introduction * Earnings per share and some dubious algebra * IAS 1 and some solutions * IAS 8 and some further clarifications * Discontinued activities * Segmental reporting * Summary * Tutorial questions
* Accounting for Property, Plant and Equipment * Introduction * The nature of tangibles * Recognition * Depreciation * Revaluing assets * Impairment * Investment properties * Disclosure requirements * Summary * Tutorial questions
* Accounting for Intangibles * Introduction * The nature of intangibles * Definition and recognition * Accounting choices * IAS 38 * Development and other internally generated intangibles * Recognition of an expense * Measurement after recognition * Disclosure * Summary * Tutorial Questions
* Accounting for Inventory * Introduction * The problems with inventory * IAS 2 * Construction contracts * IAS 11 * Summary * Tutorial questions
* Accounting for Liabilities * Introduction * The problems with liabilities * Leasing * Debt v equity * Summary * Tutorial questions
* Introduction to Consolidation * Introduction * Groups of companies * Imagine... * What is a subsidiary? * Publishing group accounts * Summary * Tutorial questions
* The Mechanics of Consolidation * Introduction * The basic principles * Cost of control * Inter-company trading and balances * Minority interests * Summary * Tutorial questions
* In Summary * Overview of accounting - what have we learned?