International Financial Reporting & Analysis, 8th Edition PDF by David Alexander, Ann Jorissen, Martin Hoogendoorn, Carien van Mourik and Collette Kirwan

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International Financial Reporting & Analysis, Eighth Edition

By David Alexander, Ann Jorissen, Martin Hoogendoorn, Carien van Mourik and Collette Kirwan

International Financial Reporting & Analysis, Eighth Edition

Contents

Preface

Acknowledgements

Part 1: Framework, Theory and Regulation

Chapter 1: A Brief Introduction to International Financial Reporting

Objectives

1.1 Introduction

1.2 International Financial Reporting before and since IFRS Standards

1.3 Financial Accounting and Reporting in Different Types of Business Entity

1.4 The Objectives of Corporate Financial Reporting Standards and Regulation

1.5 IFRS Standards Adopted to Facilitate Integrated Capital Markets

1.6 The Main Functions of General Purpose Financial Reporting

1.7 Users of Financial Reporting Information and their Different Information Needs

1.8 Challenges for the Board

1.9 Terminology and the English Language Use

Summary

Exercises

References

Chapter 2: International Accounting Differences: Past and Present

Objectives

2.1 Introduction

2.2 Differences in Institutions

2.3 Differences in Accounting Standards and Practices

2.4 Country Clusters over Time

2.5 A Closer Look at Some Cluster Variables

2.6 National Differences at the End of the Twentieth Century

2.7 How International Differences Impact on the Application of IFRS Standards

Summary

Exercises

References

Chapter 3: From Harmonization to IFRS Standards as Globally Accepted Standards

Objectives

3.1 Introduction

3.2 International Accounting Harmonization

3.3 International Accounting Convergence

3.4 IFRS Standards

3.5 IFRS Standards as Global Standards?

3.6 The IFRS Foundation, the Board and Related Institutions

3.7 Due Process

3.8 Theories of Regulation

3.9 Challenges for IFRS Standards and the Board

Summary

Exercises

References

Chapter 4: The IASB Conceptual Framework and Accounting Theory

Objectives

4.1 Introduction

4.2 The Role of Accounting Conceptual Frameworks

4.3 The Development of the IASB Conceptual Framework

4.4 The 2018 IASB Conceptual Framework for Financial Reporting

4.5 Financial Accounting and Reporting Theories

4.6 Approaches to the Formulation of Accounting Theory

Summary

Exercises

References

Chapter 5: Accounting and Economic Perspectives on Income and Capital

Objectives

5.1 Introduction

5.2 The Allocation Problem in Financial Accounting

5.3 The Transactions Approach and the Valuation Approach to the Determination of Profit or Loss in A

5.4 Ideal Economic Income and Wealth

5.5 Return of Capital and Return on Capital

5.6 Income Ex Ante and Income Ex Post

5.7 The Residual Income Valuation Model

5.8 Information, Measurement and Efficient Contracting Perspectives

Summary

Exercises

References

Chapter 6: Current Values, Mixed Values Measurement and CPPP Accounting

Objectives

6.1 Introduction

6.2 History of Current Value Accounting Models

6.3 Current Entry Values

6.4 Current Exit Values

6.5 Comparing Current Entry Values and Current Exit Values

6.6 Mixed Measurement Models

6.7 CPPP Accounting

6.8 Combination of Methods

6.9 Some International Practices and Traditions

6.10 EU Accounting Directive

6.11 IAS GAAP

6.12 IAS 29 on Hyperinflationary Economies

Summary

Exercises

References

Chapter 7: Fair Values, Value in Use and Fulfilment Value

Objectives

7.1 Introduction

7.2 What are FV, Value in Use and Fulfilment Value?

7.3 IFRS 13 Fair Value Measurement

7.4 Applying IFRS 13

7.5 The Measurement Process

7.6 Disclosure

7.7 Towards an Appraisal of FV, Value in Use and Fulfilment Value

7.8 Valuation and Income Measurement: Some Overall Considerations

Summary

Exercises

References

Chapter 8: Presentation and Disclosure in Published Financial Statements

Objectives

8.1 Introduction

8.2 IAS 1 Presentation of Financial Statements

8.3 Financial Statements under IAS 1

8.4 IAS 8 Accounting Policies, Changes to Accounting Estimates and Errors

8.5 IFRS 1 First-Time Adoption of International Financial Reporting Standards

8.6 EU Directive 2013/34/EU (The 2013 Accounting Directive)

8.7 Financial Reporting in the UK (written as at 31 March 2019)

Summary

Exercises

References

Chapter 9: Corporate Governance

Objectives

9.1 Introduction

9.2 Definitions of and Perspectives on Corporate Governance

9.3 Corporate Governance Issues

9.4 Theories of Corporate Governance

9.5 Taxonomies of Corporate Governance Systems

9.6 A Brief History of Corporations and Corporate Governance Mechanisms

9.7 Principles and Codes of Corporate Governance

Summary

Exercises

References

Chapter 10: Business Ethics, CSR, Sustainability Reporting and SRI

Objectives

10.1 Introduction

10.2 Ethics, Business Ethics and the Morality of the Markets

10.3 Perspectives on CSR

10.4 CSR Principles

10.5 Sustainability Reporting

10.6 Socially Responsible Investment

Summary

Exercises

References

Chapter 11: The Ethics of the Accounting Profession

Objectives

11.1 Introduction

11.2 Professions

11.3 The Accounting Profession

11.4 Ethical Challenges for Accountants

11.5 The 2018 IESBA Code of Ethics

11.6 Applying the Code of Ethics

Summary

Exercises

References

Part 2: Annual Financial Statements

Chapter 12: Fixed (Non-Current) Tangible Assets

Objectives

12.1 Introduction

12.2 Measurement of Fixed (Non- Current) Tangible Assets

12.3 Principles of Accounting for Depreciation

12.4 The Revaluation Model

12.5 Derecognition

12.6 Disclosure

12.7 Determining the Cost of a Fixed Asset: Additional Elements

12.8 Government Grants and Assistance

12.9 Borrowing Costs

12.10 Accounting for Investment Properties

12.11 Measurement of Investment Property

12.12 Accounting for Agriculture and Biological Assets

Summary

Exercises

Chapter 13: Intangible Assets

Objectives

13.1 Introduction

13.2 Intangible Assets

13.3 Recognition of Intangible Assets

13.4 Measurement Subsequent to Initial Recognition

13.5 Useful Life of an Intangible Asset

13.6 Derecognition

13.7 Disclosure

Summary

Exercises

References

Chapter 14: Impairment and Disposal of Assets

Objectives

14.1 Introduction

14.2 Impairment of Assets

14.3 Recognition and Measurement of Impairment Losses

14.4 Non-Current Assets Held for Sale and Discontinued Operations

14.5 Non-Current Assets Held for Sale: Definition

14.6 Measurement of Non-Current Assets and Disposal Groups Held for Sale

14.7 Discontinued Operations

Summary

Exercises

Chapter 15: Leases

Objectives

15.1 Introduction

15.2 Lease Accounting by the Lessee

15.3 Lease Accounting by Lessors

15.4 Accounting and Reporting by Lessors: Finance Leases

15.5 Accounting and Reporting by Lessors: Operating Leases

15.6 Sale and Leaseback Transactions

Summary

Exercises

Chapter 16: Inventories

Objectives

16.1 Introduction

16.2 Inventories

16.3 Inventory Systems

16.4 Reporting Inventory under the Scope of IAS 2

16.5 Cost of Inventory

16.6 Requirements for Inventories under the Scope of IAS 41

Summary

Exercises

Chapter 17: Accounting for Financial Instruments

Objectives

17.1 Introduction

17.2 Short History of Accounting for Financial Instruments

17.3 Problems Identified

17.4 What Is a Financial Instrument?

17.5 Distinction between Financial Liability and Equity

17.6 Recognition and Derecognition of Financial Instruments

17.7 Classification and Measurement

17.8 Compound Financial Instrument Measurement

17.9 Impairment

17.10 Hedge Accounting

17.11 Disclosure

Summary

Exercises

Chapter 18: Revenue

Objectives

18.1 Introduction

18.2 What Is Revenue?

18.3 The Basic Outline of IFRS 15

18.4 Step 1. Identify the Contract(s) with a Customer

18.5 Step 2. Identify the Performance Obligations in the Contract

18.6 Step 3. Determine the Transaction Price

18.7 Step 4. Allocate the Transaction Price to the Separate Performance Obligations in the Contract

18.8 Step 5. Recognize Revenue when (or as) the Entity Satisfies a Performance Obligation

18.9 Construction Contracts

18.10 Contract Costs

18.11 Presentation and Disclosure

Summary

Exercises

Chapter 19: Provisions, Contingent Liabilities and Contingent Assets

Objectives

19.1 Introduction

19.2 Problems Identified

19.3 Provisions, Contingent Liabilities and Contingent Assets

19.4 Accounting for Provisions, Contingent Liabilities and Contingent Assets

19.5 Specific Application of Recognition and Measurement Rules

19.6 Disclosure Requirements

Summary

Exercises

Chapter 20: Income Taxes

Objectives

20.1 Introduction

20.2 The Expense Question

20.3 The Deferred Tax Problem

20.4 IAS 12 and Tax

20.5 IFRIC 23 and Tax Uncertainties

Summary

Exercises

Chapter 21: Employee Benefits and Share-Based Payment

Objectives

21.1 Introduction

21.2 Accounting for Short-Term Employee Benefits

21.3 Accounting for Profit-Sharing and Bonus Plans

21.4 Accounting for Equity Compensation Benefits or Share-Based Payment

21.5 Accounting for Long-Term Employee Benefits: Pension Benefits

21.6 Termination Benefits

21.7 Accounting by the Pension Fund

Summary

Exercises

References

Chapter 22: Insurance Contracts

Objectives

22.1 Introduction

22.2 Insurance Contract

22.3 IFRS 4

22.4 IFRS 17

Summary

Chapter 23: Statement of Cash Flows

Objectives

23.1 Introduction

23.2 Profit versus Cash

23.3 Cash Flow Reporting

23.4 Requirements of IAS 7

23.5 Format of Cash Flow Statement

23.6 Preparation of Statement of Cash Flows

Summary

Exercises

Chapter 24: Disclosure Issues

Objectives

24.1 Introduction

24.2 Disclosure of Segment Information

24.3 Events after the Reporting Period

24.4 Earnings per Share

24.5 Interim Financial Reporting

Summary

Exercises

Reference

Part 3: Consolidated Accounts and the Multinational

Chapter 25: Business Combinations

Objectives

25.1 Introduction

25.2 Accounting for the Business Combination: The Basics

25.3 Accounting for Purchased Goodwill

25.4 Specific Issues on Accounting for the Business Combination

25.5 Loss of Control

25.6 Disclosure Requirements of IFRS 3

25.7 Alternative Methods in Accounting for Business Combinations

Summary

Exercises

Chapter 26: Consolidated Financial Statements

Objectives

26.1 Introduction

26.2 Control

26.3 The Need for Consolidated Accounts

26.4 Preparation of Consolidated Statements of Financial Position

26.5 Preparation of Consolidated Statement of Comprehensive Income

26.6 Investment Entities

26.7 Alternative Concepts on Consolidation

Summary

Exercises

Chapter 27: Accounting for Associates, Joint Arrangements and Related Party Disclosures

Objectives

27.1 Introduction

27.2 Equity Accounting

27.3 IAS 28 Investments in Associates and Joint Ventures

27.4 Equity Accounting in Individual Financial Statements

27.5 IFRS 11 Joint Arrangements

27.6 Accounting for Joint Arrangements

27.7 Overview Activity on Accounting for Associates and Joint Arrangements

27.8 Related Party Disclosures

Summary

Exercises

Chapter 28: Foreign Currency Translation

Objectives

28.1 Introduction

28.2 Currency Conversion

28.3 Currency Translation

28.4 IAS 21 Requirements for Entity’s Foreign Currency Transactions

28.5 IAS 21 Requirements for Translating Foreign Operations for Consolidation Purposes

28.6 Alternative Translation Methods for Financial Statements of Foreign Operations

28.7 Hedge Accounting

28.8 Some Other Issues

Summary

Exercises

Part 4: Financial Analysis

Chapter 29: Introduction to Interpretation of Financial Statements

Objectives

29.1 Introduction

29.2 Accounting Information and Users

29.3 Benchmarking

29.4 Technique of Ratio Analysis

29.5 Additional Information

Summary

Exercises

Chapter 30: Interpretation of Financial Statements

Objectives

30.1 Introduction

30.2 Industry Analysis

30.3 Accounting Analysis

30.4 Accounting Analysis: The Available Accounting Discretion

30.5 Entity Analysis

30.6 The Reversal Effect

30.7 Quality of Disclosure

30.8 Non-GAAP or Pro-Forma Accounting Measures

Summary

Exercises

References

Chapter 31: Techniques of Financial Analysis

Objectives

31.1 Introduction

31.2 Elements of Non-Comparability in Financial Statements

31.3 Trend Analysis or Horizontal Analysis

31.4 Common Size Analysis

31.5 Segmental Analysis

31.6 Ratio Analysis

31.7 Ratio Analysis and the IAS/IFRS Accounts

31.8 Cash Flow Statement

31.9 Limitations of Ratio Analysis

31.10 Multivariate Analysis

31.11 Investment Perspective

31.12 Disclosure of Non-Financial Data

Summary

Appendix I

Appendix II

Exercises

References

Index

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