International Financial Reporting and Analysis

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Cengage Learning EMEA, 2007 - Business & Economics - 898 pages
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This third edition is designed to meet the rapidly emerging demand for coverage of new international financial reporting standards (IFRS) and the globalisation of accounting in advanced courses. The book is based on an IASB framework but the European directives, especially as regards detailed formats having no direct equivalent in IFRS, are discussed in detail. The European context and, in the case of important markets, the national context is recognised and contrasted with the international approach. Important non-European influences, especially those from the US, are included in order to provide a genuinely wide-ranging appreciation of the implications of accounting internationalism. Part 1 - Framework, Theory and Regulation - contains coverage of the theoretical underpinnings of financial reporting in an international context. It also describes the international, European and domestic regulatory framework of accounting. Part 2 - Annual Financial Statements - starts by analysing the legal background of the concept of capital and profit. The relevant parts of the second European directive are introduced and the contents of published financial statements described. The main problem areas of financial reporting as covered by IFRS are then analysed. The approach in these chapters consists of discussion of each problem area and its theoretical issues, discussion of the international regulation relating to the problem, and important national and regional representations or variations. Part 3 -Consolidated Accounts and the Multinational √‚- covers group accounts in an international context. Part 4 - Financial Information and Analysis - discusses in depth the availability and transparency of financial information as published, and then the usage and interpretation of that information. The book is student oriented throughout, and contains activities, examples of reporting using IFRS from real companies√‚' accounts, questions and answers.
 

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Contents

PARTONE FRAMEWORK THEORY AND REGULATION l
1
International accounting differences
22
The process of harmonization
45
Economic valuation concepts
63
Current entry value
87
Current exit value and mixed values
105
Current purchasing power accounting
122
Accounting theory and conceptual
142
Revenue
416
Provisions contingent liabilities
433
Income taxes
457
Employee benefits
484
Changing prices and hyperinflationary
534
Presentation issues
577
PART THREE CONSOLIDATED ACCOUNTS AND
645
Consolidated financial statements II
687

Structure of published financial
175
Additional disclosure statements
194
Basics of interpretation of financial
217
PARTTWO ANNUAL FINANCIAL STATEMENTS
245
Intangible assets
287
Impairment and disposal of assets
305
Leases
333
Inventories and construction contracts
358
Accounting for financial instruments
386
Foreign currency translation
735
PARTFOUR FINANCIAL ANALYSIS
761
Elements of noncomparability in financial
821
Trend analysis or horizontal analysis
827
Segmental analysis
834
Ratio analysis and the IAS accounts
841
Disclosure of nonfinancial data
869
Introduction 819
888
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About the author (2007)

Anne Britton is Professor of Accounting, Leeds Metropolitan University (retired).

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