Fundamentals of International Financial Accounting and Reporting

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World Scientific, 2010 - Business & Economics - 374 pages
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This unique book is not written from a specific national perspective, but adopts an international approach throughout. It treats the topic of International Financial Accounting and Reporting as a subject in its own right and not as an alternative or an extension to the existing domestic regulatory framework.The book begins with an introduction to accounting and financial reporting, followed by a description of the development of international standards and the present structure, role and operations of the International Accounting Standards Board.While a major part of the book is devoted to a discussion on individual IFRS (International Financial Reporting Standards), it also discusses income statements, balance sheets and cash flow statements. These financial statements are examined in the context of International Financial Reporting regulations and students are introduced to the main IFRS relating to those statements. Subsequent chapters examine individually, the more complex standards.A complimentary copy of the Instructor's Manual and the PowerPoint presentations of the text materials are available for all instructors who adopt this book as a course text. Please send your request to sales@wspc.com.
 

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Contents

1 Accounting Assumptions and Facts
1
2 The Growth of Standard Setting and the International Accounting Standards Board
27
3 The Basics of the Statement of Income
55
4 The Basics of the Statement of Financial Position
85
5 The Basics of the Statement of Cash Flows
117
6 Intangible Assets and Impairment of Assets
139
7 Accounting Policies Errors Provisions and Contingencies
161
8 Leases Employee Benefits and Taxes
181
10 Business Combinations and Consolidated Financial Statements
225
11 Specific Industries and Practices
253
12 Presentational Issues
273
13 Foreign Operations and Segmental Reporting
305
14 Evaluating IFRS Financial Statements
323
Appendix A DoubleEntry Bookkeeping
351
Appendix B Answers to Chapter Questions
363
Index
369

9 Financial Instruments and ShareBased Payments
205

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