Title:
Financial accounting theory and analysis : text and cases
Personal Author:
Edition:
10th ed.
Publication Information:
Hoboken, N.J. : Wiley, 2011
Physical Description:
xi, 612 p. ; 24 cm.
ISBN:
9780470646281
General Note:
Includes index
Abstract:
"Updated and revised, this tenth edition helps accountants build strong critical thinking skills and a sound theoretical background. This enables them to evaluate accounting practice in today's increasingly global world economy. A unique and timely collection of cases and readings cover all areas of accounting and shows how the latest accounting standards impact decision making. New FASB codification cases provide up-to-date information. Room for Debate cases in each chapter, as well as updated disclosure examples throughout the book, also engage accountants as they learn how the material relates to their profession"-- Provided by publisher.
Available:*
Library | Item Barcode | Call Number | Material Type | Item Category 1 | Status |
|---|---|---|---|---|---|
Searching... | 30000010263827 | HF5625 S34 2011 | Open Access Book | Book | Searching... |
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Summary
Summary
Updated and revised, this tenth edition helps accountants build strong critical thinking skills and a sound theoretical background. This enables them to evaluate accounting practice in today's increasingly global world economy. A unique and timely collection of cases and readings cover all areas of accounting and shows how the latest accounting standards impact decision making. New FASB codification cases provide up-to-date information. Room for Debate cases in each chapter, as well as updated disclosure examples throughout the book, also engage accountants as they learn how the material relates to their profession.
Table of Contents
| Preface | p. iii |
| 1 The Development of Accounting Theory | p. 1 |
| The Early History of Accounting | p. 2 |
| Accounting in the United States since 1930 | p. 5 |
| The Role of Ethics in Accounting | p. 21 |
| International Accounting Standards | p. 25 |
| Cases | p. 27 |
| FASB ASC Research | p. 29 |
| Room for Debate | p. 30 |
| 2 The Pursuit of the Conceptual Framework | p. 31 |
| The Early Theorists | p. 31 |
| Early Authoritative and Semi-Authoritatve Organizational Attempts to Develop the Conceptual Framework of Accounting | p. 34 |
| The FASB's Conceptual Framework Project | p. 45 |
| Principles-Based versus Rules-Based Accounting Standards | p. 58 |
| International Convergence | p. 63 |
| Cases | p. 73 |
| FASB ASC Research | p. 76 |
| Room for Debate | p. 77 |
| 3 International Accounting | p. 78 |
| International Business Accounting Issues | p. 79 |
| The Development of Accounting Systems | p. 79 |
| Preparation of Financial Statements for Foreign Users | p. 81 |
| The International Accounting Standards Committee | p. 82 |
| Revising the IASB's Constitution | p. 88 |
| The Uses of International Accounting Standards | p. 90 |
| Current Issues | p. 91 |
| The IASB Annual Improvements Project | p. 92 |
| The Use of IASC Standards | p. 93 |
| The IASB-FASB Convergence Project | p. 93 |
| The Impact of International versus U.S. GAAP Accounting Standards | p. 97 |
| Standards Overload | p. 99 |
| Framework for the Preparation and Presentation of Financial Statements | p. 100 |
| Comparison of the IASB's and FASB's Conceptual Frameworks | p. 103 |
| IAS No. 1 and IFRS No. 1 | p. 107 |
| Cases | p. 109 |
| FASB ASC Research | p. 110 |
| Room for Debate | p. 111 |
| 4 Research Methodology and Theories on the Uses of Accounting Information | p. 112 |
| Research Methodology | p. 113 |
| The Outcomes of Providing Accounting Information | p. 115 |
| The Relationship Among Research, Education, and Practice | p. 129 |
| Cases | p. 130 |
| FASB ASC Research | p. 132 |
| Room for Debate | p. 132 |
| 5 Income Concepts | p. 134 |
| The Nature of Income | p. 136 |
| Income Recognition | p. 141 |
| Earnings Quality, Earnings Management, and Fraudulent Financial Reporting | p. 154 |
| Cases | p. 159 |
| FASB ASC Research | p. 163 |
| Room for Debate | p. 164 |
| 6 Financial Statements I: The Income Statement | p. 166 |
| The Economic Consequences of Financial Reporting | p. 166 |
| Income Statement Elements | p. 167 |
| Statement Format | p. 168 |
| Proposed Format of the Statement of Comprehensive Income | p. 192 |
| The Value of Corporate Earnings | p. 195 |
| International Accounting Standards | p. 199 |
| Cases | p. 203 |
| FASB ASC Research | p. 209 |
| Room for Debate | p. 210 |
| 7 Financial Statements II: The Balance Sheet and the Statement of Cash Flows | p. 211 |
| The Balance Sheet | p. 212 |
| Fair Value Measurements Under SFAS No. 157 | p. 224 |
| Proposed Format of the Statement of Financial Position | p. 229 |
| Evaluating a Company's Financial Position | p. 231 |
| The Statement of Cash Flows | p. 235 |
| Financial Analysis of Cash-flow Information | p. 246 |
| International Accounting Standards | p. 247 |
| Cases | p. 249 |
| FASB ASC Research | p. 253 |
| Room for Debate | p. 254 |
| 8 Working Capital | p. 255 |
| Development of the Working Capital Concept | p. 255 |
| Current Usage | p. 257 |
| Components of Working Capital | p. 258 |
| Financial Analysis of a Company's Working Capital Position | p. 270 |
| International Accounting Standards | p. 276 |
| Cases | p. 277 |
| FASB ASC Research | p. 281 |
| Room for Debate | p. 282 |
| 9 Long-Term Assets I: Property, Plant, and Equipment | p. 284 |
| Property, Plant, and Equipment | p. 284 |
| Financial Analysis of Property, Plant, and Equipment | p. 289 |
| International Accounting Standards | p. 300 |
| Cases | p. 305 |
| FASB ASC Research | p. 310 |
| Room for Debate | p. 311 |
| 10 Long-Term Assets II: Investments and Intangibles | p. 313 |
| Investments in Equity Securities | p. 313 |
| Investments in Debt Securities | p. 322 |
| Impairment of Investments in Unsecuritized Debt | p. 325 |
| Transfers of Financial Assets | p. 326 |
| Intangibles | p. 327 |
| Financial Analysis of Investments and Intangibles | p. 337 |
| International Accounting Standards | p. 337 |
| Cases | p. 343 |
| FASB ASC Research | p. 347 |
| Room for Debate | p. 348 |
| 11 Long-Term Liabilities | p. 350 |
| The Definition of Liabilities | p. 351 |
| Recognition and Measurement of Liabilities | p. 352 |
| Debt versus Equity | p. 352 |
| Long-Term Debt Classification | p. 357 |
| Other Liability Measurement Issues | p. 370 |
| Troubled Debt Restructurings | p. 375 |
| Financial Analysis of Long-Term Debt | p. 378 |
| International Accounting Standards | p. 381 |
| Cases | p. 385 |
| FASB ASC Research | p. 390 |
| Room for Debate | p. 392 |
| 12 Accounting for Income Taxes | p. 393 |
| Historical Perspective | p. 393 |
| The Income Tax Allocation Issue | p. 395 |
| SFAS No. 109 | p. 411 |
| Financial Analysis of Income Taxes | p. 417 |
| International Accounting Standards | p. 420 |
| Cases | p. 423 |
| FASB ASC Research | p. 426 |
| Room for Debate | p. 427 |
| 13 Leases | p. 429 |
| Accounting for Leases | p. 430 |
| Financial Analysis of Leases | p. 444 |
| International Accounting Standards | p. 447 |
| Cases | p. 449 |
| FASB ASC Research | p. 453 |
| Room for Debate | p. 454 |
| 14 Pensions and Other Postretirement Benefits | p. 456 |
| Historical Perspective | p. 458 |
| Accounting for the Pension Fund | p. 469 |
| The Employee Retirement Income Security Act | p. 470 |
| Other Postretirement Benefits | p. 470 |
| SFAS No. 132 | p. 473 |
| SFAS No. 158 | p. 473 |
| Financial Analysis of Pension and Other Postretirement Benefits | p. 475 |
| International Accounting Standards | p. 476 |
| Cases | p. 477 |
| FASB ASC Research | p. 479 |
| Room for Debate | p. 481 |
| 15 Equity | p. 482 |
| Theories of Equity | p. 483 |
| Definition of Equity | p. 488 |
| Reporting Equity | p. 491 |
| Financial Analysis of Stockholders' Equity | p. 505 |
| International Accounting Standards | p. 506 |
| Cases | p. 508 |
| FASB ASC Research | p. 513 |
| Room for Debate | p. 514 |
| 16 Accounting for Multiple Entities | p. 515 |
| Business Combinations | p. 515 |
| Accounting for Business Combinations | p. 516 |
| Business Combinations II | p. 522 |
| Theories of Consolidation | p. 525 |
| Noncontrolling Interest | p. 526 |
| Drawbacks of Consolidation | p. 529 |
| Special-Purpose Entities | p. 530 |
| Segment Reporting | p. 531 |
| Foreign Currency Translation | p. 536 |
| International Accounting Standards | p. 544 |
| Cases | p. 548 |
| FASB ASC Research | p. 551 |
| Room for Debate | p. 552 |
| 17 Financial Reporting Disclosure Requirements and Ethical Responsibilities | p. 554 |
| Recognition and Measurement Criteria | p. 554 |
| Areas Directly Affected by Existing FASB Standards-Supplementary Information | p. 558 |
| Other Means of Financial Reporting | p. 562 |
| Other Useful Information for Investment, Credit, and Similar Decisions | p. 565 |
| Securities and Exchange Commission | p. 567 |
| Ethical Responsibilities | p. 576 |
| International Accounting Standards | p. 583 |
| Cases | p. 584 |
| FASB ASC Research | p. 588 |
| Room for Debate | p. 590 |
| Index | p. 593 |
