Interpretation and Application of International Accounting Standards, 1997Learn the ins and outs of the International Accounting Standards with this comprehensive guidebook Recent developments-from the fall of communism to expanding technologies, from emerging markets to organizations such as NAFTA, the European Economic Community, and the Andes Community-have changed the nature of international economics and commercially linked nations around the globe. These developments have created the need for increased comparability and harmonization of accounting standards. For the past 10 years the International Accounting Standards Committee (IASC) has established these criteria which have become accepted practice in most of the industrialized world. This is a quick-reference guide for accountants, government officials, and anyone who deals with IAS standards. Offers practical guidance on many topics not covered by IASC standards. Includes most up-to-date coverage of all IASs, which are issued annually Provides detailed, complex "real world" examples BARRY EPSTEIN, PhD, CPA (Chicago, Illinois) is a partner at Checkers, Simon, and Rosner LLP in Chicago. ABBAS ALI MIRZA, CPA, ACA (Sharjah, United Arab Emirates) works for Talal Abu-Ghazaleh and Co. in the Middle East. |
Common terms and phrases
Accumulated depreciation acquired acquisition adjustment allocation amortization applied assets and liabilities balance sheet basis Bass Company bonds book value business combination carrying amount carrying value Cash and Cash cash equivalents cash flows changes common stock computed consolidated current assets current liabilities debt disclosure discount dividends economic ending inventory enterprise entity entity's entry equipment equity method estimated example extraordinary item fair value financial instruments financial reporting financial statements financing lease future GAAP gain or loss income statement income taxes incurred intangible interest rate international accounting standards investment investor issued lease term leased asset lessee lessor LIFO long-term market value minimum lease payments negative goodwill net realizable value obligation paid-in capital payable period present value profit purchase realized receivable recognized recorded residual value result retained earnings revaluation revenue shares tax benefit tax effects tax expense taxable temporary differences tion transaction