Accounting Theory: Contemporary Accounting Issues
This easy-to-read accounting theory text contains two distinct, but integrated parts. Part One focuses on two interwoven topics: accounting theory formulation and standard setting in a chronological format. This section analyzes the major historical efforts attempted in the development of an accounting theory. The Conceptual Framework project is studied, and the FASB and how it influences current standard setting is examined. Part Two covers contemporary financial reporting issues as they relate to the FASB's Conceptual Framework. Controversial accounting areas, such as cash flows, accounting for pensions, post-employment benefits and stock options, are studied within the context of the definitions of assets and liabilities provided by the Conceptual Framework. Interesting and challenging cases provide the reader with practical experience in applying accounting theory.
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International Developments 95
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accounting for income Accounting Horizons accounting practices Accounting Principles Accounting Principles Board accounting profession accounting standard setting Accounting Standards Board accounting theory AICPA amount APB Opinion approach ASOBAT Balance Sheet capital Cash Flow Statement cash flows CF project chapter Committee Company comprehensive income concept Conceptual Framework project concerns considered debt disclosure dividends due process earnings emphasis employees equity example expense FASB FASB's Financial Accounting Standards financial reporting financial statements firm firm's GAAP historical cost IASC important incentive stock option Income Statement income taxes interest investments investors Journal of Accountancy major mark to market market value measure ment method Moonitz normative-deductive objectives obligation political positive accounting postemployment benefits postulates problems procedure public accounting question recognized result revenue SATTA securities SFAC SFAS SFASs Sprouse Statement of Cash Statement of Financial stock options tax allocation theory formulation ticket tion topic transaction users