Were you looking for the book with access to MyAccountingLab? This product is the book alone, and does NOT come with access to MyAccountingLab. Buy Financial Accounting and Reporting with MyAccountingLab access card, 1/e (ISBN 9780273774051) if you need access to the MyAccountingLab as well, and save money on this brilliant resource.
NEED TO INPUT DESCRIPTION
Need extra support?
This product is the book alone, and does NOT come with access to MyAccountingLab.
This title can be supported by MyAccountingLab, an online homework and tutorial system which can be used by students for self-directed study or fully integrated into an instructor's course.
You can benefit from MyAccountingLab at a reduced price by purchasing a pack containing a copy of the book and an access card for MyAccountingLab: Accounting and Finance for Business with MyAccountingLab access card, 1/e (ISBN 9780273774051). Alternatively, buy access to MyAccountingLab and the eText – an online version of the book - online at www.MyAccountingLab.com .
For educator access, contact your Pearson Account Manager. To find out who your account manager is, visit www.pearsoned.co.uk/replocator
Geoff Black is a chartered accountant and lecturer whose career has combined senior professional and academic positions. A very experienced author and examiner; he is currently a principal lecturer in a UK university.
Mahmoud Al-Kilani is Principal Lecturer in a UK University and a Visiting Lecturer in a number of European Universities. He has published articles and chapters in both journals and textbooks and has extensive practitioner, consultancy and external examining experience. He has developed innovative courses for the Higher Education Funding Council of England (HEFCE), including 2 year fast-track degrees.
Product Description
Were you looking for the book with access to MyAccountingLab? This product is the book alone, and does NOT come with access to MyAccountingLab. Buy Financial Accounting and Reporting with MyAccountingLab access card, 16/e (ISBN 9780273778264) if you need access to the MyAccountingLab as well, and save money on this brilliant resource.
This market-leading text offers a comprehensive overview of financial accounting and reporting. You will find worked examples and useful illustrations throughout the text to support your learning. With both theoretical and practical coverage, the authors provide essential knowledge that you need to advance in your studies and career.
"This is a good text that provides comprehensive coverage of the material on my course."
Brian Miller Lancaster University
"Clearly written. Good balance of theory and numbers."
Chris McMahon Liverpool John Moores University
MyAccountingLab
Join over 10 million students benefiting from Pearson MyLabs.
This title can be supported by MyAccountingLab, an online homework and tutorial system designed to test and build your understanding. MyAccountingLab provides a personalised approach, with instant feedback and numerous additional resources to support your learning.
Key features:
a study plan designed just for you
worked solutions showing how to solve difficult problems
limitless opportunities to practise
an eText for quick reference
A student access code card may have been included with this textbook at a reduced cost. If you do not have an access code, you can buy access to MyAccountingLab and the eText – an online version of the book - online at www.myaccountinglab.com.
Barry Elliott is a training consultant. He has extensive teaching experience at undergraduate, postgraduate and professional levels in China, Hong Kong, New Zealand and Singapore. He has wide experience as an external examiner in higher education and at all levels of professional education.
Jamie Elliott is a director with Deloitte. Prior to this, he lectured on undergraduate degree programmes and as Assistant Professor on MBA and Executive programmes at the London Business School.
Backcover
This market-leading text offers a comprehensive overview of financial accounting and reporting. You will find worked examples and useful illustrations throughout the text to support your learning. With both theoretical and practical coverage, the authors provide essential knowledge that you need to advance in your studies and career.
New to this edition:
· Fully updated coverage of IFRS and IAS
· Additional exercises in the text and MyAccountingLab
· Restructured material to ensure accessibility for students at all levels
· All parts are designed to progress in clear steps from first principles
Substantial revisions to:
· Part 1 Published financial accounts
· Part 2 Income and asset value measurement systems
o Revenue recognition
· Part 4 Statement of financial position
o Employee benefits
o Construction contracts
· Part 5 Consolidated accounts
o Accounting for Joint Arrangements
o Accounting for the effects of changes in foreign exchange rates
· Part 6 Interpretation
o Interpreting financial statements for management purposes
o Analysis of published financial statements
· Part 7 Accountability
o Corporate governance
o Sustainability – environmental and social reporting.
"This is a good text that provides comprehensive coverage of the material on my course."
Brian Miller Lancaster University
"Clearly written. Good balance of theory and numbers."
Chris McMahon Liverpool John Moores University
MyAccountingLab
Join over 10 million students benefiting from Pearson MyLabs.
This title can be supported by MyAccountingLab, an online homework and tutorial system designed to test and build your understanding. MyAccountingLab provides a personalised approach, with instant feedback and numerous additional resources to support your learning.
Key features:
a study plan designed just for you
worked solutions showing how to solve difficult problems
limitless opportunities to practise
an eText for quick reference
A student access code card may have been included with this textbook at a reduced cost. If you do not have an access code, you can buy access to MyAccountingLab and the eText – an online version of the book - online at www.myaccountinglab.com.
Barry Elliott is a training consultant. He has extensive teaching experience at undergraduate, postgraduate and professional levels in China, Hong Kong, New Zealand and Singapore. He has wide experience as an external examiner in higher education and at all levels of professional education.
Jamie Elliott is a director with Deloitte. Prior to this, he lectured on undergraduate degree programmes and as Assistant Professor on MBA and Executive programmes at the London Business School.
Brief contents
Preface and acknowledgements
Guided tour of MyAccountingLab
Part 1
PREPARATION OF FINANCIAL STATEMENTS
1 Accounting and reporting on a cash flow basis
2 Accounting and reporting on an accrual accounting basis
3 Preparation of financial statements of comprehensive income, changes in equity and financial position
4 Annual Report: additional financial statements
5 Statements of cash flows
Part 2
INCOME AND ASSET VALUE MEASUREMENT SYSTEMS
6 Income and asset value measurement: an economist’s approach
7 Accounting for price-level changes
8 Revenue recognition
Part 3
REGULATORY FRAMEWORK – AN ATTEMPT TO ACHIEVE UNIFORMITY
9 Financial reporting – evolution of global standards
10 Concepts – evolution of an international conceptual framework
11 Ethical behaviour and implications for accountants
Part 4
STATEMENT OF FINANCIAL POSITION – EQUITY, LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE
12 Share capital, distributable profits and reduction of capital
13 Liabilities
14 Financial instruments
15 Employee benefits
16 Taxation in company accounts
17 Property, plant and equipment (PPE)
18 Leasing
19 Intangible assets
20 Inventories
21 Construction contracts
Part 5
CONSOLIDATED ACCOUNTS
22 Accounting for groups at the date of acquisition
23 Preparation of consolidated statements of financial position after the date of acquisition
24 Preparation of consolidated statements of income, changes in equity and cash flows
25 Accounting for associates and joint arrangements
26 Introduction to accounting for exchange differences
Part 6
INTERPRETATION
27 Earnings per share
28 Review of statements for management purposes
29 Analysis of published financial statements
30 An introduction to financial reporting on the Internet
Part 7
ACCOUNTABILITY
31 Corporate governance
32 Sustainability – environmental and social reporting
Index
Full contents
Preface and acknowledgements
Guided tour of MyAccountingLab
Part 1
PREPARATION OF FINANCIAL STATEMENTS
1 Accounting and reporting on a cash flow basis
1.1 Introduction
1.2 Shareholders
1.3 What skills does an accountant require in respect of external reports?
1.4 Managers
1.5 What skills does an accountant require in respect of internal reports?
1.6 Procedural steps when reporting to internal users
1.7 Agency costs
1.8 Illustration of periodic financial statements prepared under the cash flow concept to disclose realised operating cash flows
1.9 Illustration of preparation of statement of financial position
1.10 Treatment of non-current assets in the cash flow model
1.11 What are the characteristics of these data that make them reliable?
1.12 Reports to external users
Summary
Review questions
Exercises
References
2 Accounting and reporting on an accrual accounting basis
2.1 Introduction
2.2 Historical cost convention
2.3 Accrual basis of accounting
2.4 Mechanics of accrual accounting – adjusting cash receipts and payments
2.5 Subjective judgements required in accrual accounting – adjusting cash payments in accordance with the matching principle
2.6 Mechanics of accrual accounting – the statement of financial position
2.7 Reformatting the statement of financial position
2.8 Accounting for the sacrifice of non-current assets
2.9 Reconciliation of cash flow and accrual accounting data
Summary
Review questions
Exercises
References
3 Preparation of Financial Statements of comprehensive income, Changes in equity and Financial Position
3.1 Introduction
3.2 Preparing an internal statement of income from a trial balance
3.3 Reorganise the income and expenses into one of the formats required for publication
3.4 Format 1: Classification of operating expenses and other income by function
3.5 Format 2: classification of operating expenses according to their nature
3.6 Other comprehensive income
3.7 How non-recurring or exceptional items can affect operating income
3.8 How decision useful is the Statement of comprehensive income?
3.9 Statement of Changes in Equity
3.10 The statement of financial position
3.11 The explanatory notes that are part of the financial statements
3.12 Has prescribing the formats meant that identical transactions are reported identically?
3.13 Fair presentation
3.14 What does an investor need in addition to the primary financial statements to make decisions?
Summary
Review questions
Exercises
References
4 Annual Report: additional financial statements
4.1 Introduction
4.2 IAS 10 Events after the reporting period 1
4.3 Retrospective changes to financial statements
4.4 What do segment reports provide?
4.5 IRFS 8 – Operating Segments
4.6 Benefits and continuing concerns following the issue of IFRS 8
4.7 Discontinued operations – IFRS 5 Non-current assets held for sale and discontinued operations
4.8 Held for sale - IFRS 5 Non-current assets held for sale and discontinued operations
4.9 Related party disclosures –IAS 24 Related Party Disclosures
Summary
Review questions
Exercises
References
5 Statements of cash flows
5.1 Introduction
5.2 Development of statements of cash flows
5.3 Applying IAS 7 (revised) Statements of Cash Flows
5.4 Step approach to preparation of a statement of cash flows – indirect method
5.5 Additional notes required by IAS 7
5.6 Analysing statements of cash flows
5.7 Approach to an exam question
5.8 Critique of cash flow accounting
Summary
Review questions
Exercises
References
Part 2
INCOME AND ASSET VALUE MEASUREMENT SYSTEMS
6 Income and asset value measurement: an economist’s approach
6.1 Introduction
6.2 Role and objective of income measurement
6.3 Accountant’s view of income, capital and value
6.4 Critical comment on the accountant’s measure
6.5 Economist’s view of income, capital and value
6.6 Critica
NEED TO INPUT DESCRIPTION
Need extra support?
This product is the book alone, and does NOT come with access to MyAccountingLab.
This title can be supported by MyAccountingLab, an online homework and tutorial system which can be used by students for self-directed study or fully integrated into an instructor's course.
You can benefit from MyAccountingLab at a reduced price by purchasing a pack containing a copy of the book and an access card for MyAccountingLab: Accounting and Finance for Business with MyAccountingLab access card, 1/e (ISBN 9780273774051). Alternatively, buy access to MyAccountingLab and the eText – an online version of the book - online at www.MyAccountingLab.com .
For educator access, contact your Pearson Account Manager. To find out who your account manager is, visit www.pearsoned.co.uk/replocator
Geoff Black is a chartered accountant and lecturer whose career has combined senior professional and academic positions. A very experienced author and examiner; he is currently a principal lecturer in a UK university.
Mahmoud Al-Kilani is Principal Lecturer in a UK University and a Visiting Lecturer in a number of European Universities. He has published articles and chapters in both journals and textbooks and has extensive practitioner, consultancy and external examining experience. He has developed innovative courses for the Higher Education Funding Council of England (HEFCE), including 2 year fast-track degrees.
Product Description
Were you looking for the book with access to MyAccountingLab? This product is the book alone, and does NOT come with access to MyAccountingLab. Buy Financial Accounting and Reporting with MyAccountingLab access card, 16/e (ISBN 9780273778264) if you need access to the MyAccountingLab as well, and save money on this brilliant resource.
This market-leading text offers a comprehensive overview of financial accounting and reporting. You will find worked examples and useful illustrations throughout the text to support your learning. With both theoretical and practical coverage, the authors provide essential knowledge that you need to advance in your studies and career.
"This is a good text that provides comprehensive coverage of the material on my course."
Brian Miller Lancaster University
"Clearly written. Good balance of theory and numbers."
Chris McMahon Liverpool John Moores University
MyAccountingLab
Join over 10 million students benefiting from Pearson MyLabs.
This title can be supported by MyAccountingLab, an online homework and tutorial system designed to test and build your understanding. MyAccountingLab provides a personalised approach, with instant feedback and numerous additional resources to support your learning.
Key features:
a study plan designed just for you
worked solutions showing how to solve difficult problems
limitless opportunities to practise
an eText for quick reference
A student access code card may have been included with this textbook at a reduced cost. If you do not have an access code, you can buy access to MyAccountingLab and the eText – an online version of the book - online at www.myaccountinglab.com.
Barry Elliott is a training consultant. He has extensive teaching experience at undergraduate, postgraduate and professional levels in China, Hong Kong, New Zealand and Singapore. He has wide experience as an external examiner in higher education and at all levels of professional education.
Jamie Elliott is a director with Deloitte. Prior to this, he lectured on undergraduate degree programmes and as Assistant Professor on MBA and Executive programmes at the London Business School.
Backcover
This market-leading text offers a comprehensive overview of financial accounting and reporting. You will find worked examples and useful illustrations throughout the text to support your learning. With both theoretical and practical coverage, the authors provide essential knowledge that you need to advance in your studies and career.
New to this edition:
· Fully updated coverage of IFRS and IAS
· Additional exercises in the text and MyAccountingLab
· Restructured material to ensure accessibility for students at all levels
· All parts are designed to progress in clear steps from first principles
Substantial revisions to:
· Part 1 Published financial accounts
· Part 2 Income and asset value measurement systems
o Revenue recognition
· Part 4 Statement of financial position
o Employee benefits
o Construction contracts
· Part 5 Consolidated accounts
o Accounting for Joint Arrangements
o Accounting for the effects of changes in foreign exchange rates
· Part 6 Interpretation
o Interpreting financial statements for management purposes
o Analysis of published financial statements
· Part 7 Accountability
o Corporate governance
o Sustainability – environmental and social reporting.
"This is a good text that provides comprehensive coverage of the material on my course."
Brian Miller Lancaster University
"Clearly written. Good balance of theory and numbers."
Chris McMahon Liverpool John Moores University
MyAccountingLab
Join over 10 million students benefiting from Pearson MyLabs.
This title can be supported by MyAccountingLab, an online homework and tutorial system designed to test and build your understanding. MyAccountingLab provides a personalised approach, with instant feedback and numerous additional resources to support your learning.
Key features:
a study plan designed just for you
worked solutions showing how to solve difficult problems
limitless opportunities to practise
an eText for quick reference
A student access code card may have been included with this textbook at a reduced cost. If you do not have an access code, you can buy access to MyAccountingLab and the eText – an online version of the book - online at www.myaccountinglab.com.
Barry Elliott is a training consultant. He has extensive teaching experience at undergraduate, postgraduate and professional levels in China, Hong Kong, New Zealand and Singapore. He has wide experience as an external examiner in higher education and at all levels of professional education.
Jamie Elliott is a director with Deloitte. Prior to this, he lectured on undergraduate degree programmes and as Assistant Professor on MBA and Executive programmes at the London Business School.
Brief contents
Preface and acknowledgements
Guided tour of MyAccountingLab
Part 1
PREPARATION OF FINANCIAL STATEMENTS
1 Accounting and reporting on a cash flow basis
2 Accounting and reporting on an accrual accounting basis
3 Preparation of financial statements of comprehensive income, changes in equity and financial position
4 Annual Report: additional financial statements
5 Statements of cash flows
Part 2
INCOME AND ASSET VALUE MEASUREMENT SYSTEMS
6 Income and asset value measurement: an economist’s approach
7 Accounting for price-level changes
8 Revenue recognition
Part 3
REGULATORY FRAMEWORK – AN ATTEMPT TO ACHIEVE UNIFORMITY
9 Financial reporting – evolution of global standards
10 Concepts – evolution of an international conceptual framework
11 Ethical behaviour and implications for accountants
Part 4
STATEMENT OF FINANCIAL POSITION – EQUITY, LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE
12 Share capital, distributable profits and reduction of capital
13 Liabilities
14 Financial instruments
15 Employee benefits
16 Taxation in company accounts
17 Property, plant and equipment (PPE)
18 Leasing
19 Intangible assets
20 Inventories
21 Construction contracts
Part 5
CONSOLIDATED ACCOUNTS
22 Accounting for groups at the date of acquisition
23 Preparation of consolidated statements of financial position after the date of acquisition
24 Preparation of consolidated statements of income, changes in equity and cash flows
25 Accounting for associates and joint arrangements
26 Introduction to accounting for exchange differences
Part 6
INTERPRETATION
27 Earnings per share
28 Review of statements for management purposes
29 Analysis of published financial statements
30 An introduction to financial reporting on the Internet
Part 7
ACCOUNTABILITY
31 Corporate governance
32 Sustainability – environmental and social reporting
Index
Full contents
Preface and acknowledgements
Guided tour of MyAccountingLab
Part 1
PREPARATION OF FINANCIAL STATEMENTS
1 Accounting and reporting on a cash flow basis
1.1 Introduction
1.2 Shareholders
1.3 What skills does an accountant require in respect of external reports?
1.4 Managers
1.5 What skills does an accountant require in respect of internal reports?
1.6 Procedural steps when reporting to internal users
1.7 Agency costs
1.8 Illustration of periodic financial statements prepared under the cash flow concept to disclose realised operating cash flows
1.9 Illustration of preparation of statement of financial position
1.10 Treatment of non-current assets in the cash flow model
1.11 What are the characteristics of these data that make them reliable?
1.12 Reports to external users
Summary
Review questions
Exercises
References
2 Accounting and reporting on an accrual accounting basis
2.1 Introduction
2.2 Historical cost convention
2.3 Accrual basis of accounting
2.4 Mechanics of accrual accounting – adjusting cash receipts and payments
2.5 Subjective judgements required in accrual accounting – adjusting cash payments in accordance with the matching principle
2.6 Mechanics of accrual accounting – the statement of financial position
2.7 Reformatting the statement of financial position
2.8 Accounting for the sacrifice of non-current assets
2.9 Reconciliation of cash flow and accrual accounting data
Summary
Review questions
Exercises
References
3 Preparation of Financial Statements of comprehensive income, Changes in equity and Financial Position
3.1 Introduction
3.2 Preparing an internal statement of income from a trial balance
3.3 Reorganise the income and expenses into one of the formats required for publication
3.4 Format 1: Classification of operating expenses and other income by function
3.5 Format 2: classification of operating expenses according to their nature
3.6 Other comprehensive income
3.7 How non-recurring or exceptional items can affect operating income
3.8 How decision useful is the Statement of comprehensive income?
3.9 Statement of Changes in Equity
3.10 The statement of financial position
3.11 The explanatory notes that are part of the financial statements
3.12 Has prescribing the formats meant that identical transactions are reported identically?
3.13 Fair presentation
3.14 What does an investor need in addition to the primary financial statements to make decisions?
Summary
Review questions
Exercises
References
4 Annual Report: additional financial statements
4.1 Introduction
4.2 IAS 10 Events after the reporting period 1
4.3 Retrospective changes to financial statements
4.4 What do segment reports provide?
4.5 IRFS 8 – Operating Segments
4.6 Benefits and continuing concerns following the issue of IFRS 8
4.7 Discontinued operations – IFRS 5 Non-current assets held for sale and discontinued operations
4.8 Held for sale - IFRS 5 Non-current assets held for sale and discontinued operations
4.9 Related party disclosures –IAS 24 Related Party Disclosures
Summary
Review questions
Exercises
References
5 Statements of cash flows
5.1 Introduction
5.2 Development of statements of cash flows
5.3 Applying IAS 7 (revised) Statements of Cash Flows
5.4 Step approach to preparation of a statement of cash flows – indirect method
5.5 Additional notes required by IAS 7
5.6 Analysing statements of cash flows
5.7 Approach to an exam question
5.8 Critique of cash flow accounting
Summary
Review questions
Exercises
References
Part 2
INCOME AND ASSET VALUE MEASUREMENT SYSTEMS
6 Income and asset value measurement: an economist’s approach
6.1 Introduction
6.2 Role and objective of income measurement
6.3 Accountant’s view of income, capital and value
6.4 Critical comment on the accountant’s measure
6.5 Economist’s view of income, capital and value
6.6 Critica