Financial Accounting Theory and Analysis: Text and Cases / Edition 11 available in Paperback
Financial Accounting Theory and Analysis: Text and Cases / Edition 11
- ISBN-10:
- 1118582799
- ISBN-13:
- 9781118582794
- Pub. Date:
- 11/11/2013
- Publisher:
- Wiley
Financial Accounting Theory and Analysis: Text and Cases / Edition 11
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Overview
Accounting education has experienced many dramatic changes over the life of this accounting theory text. The publication of the tenth edition represents over thirty years in its evolution. At its inception, much of what was then considered theory was in reality rule memorization. In recent years, the globalization of the economy has impacted the skills necessary to be a successful accountant and caused accounting educators to develop new methods of communicating accounting education.
This edition of the text is a further extension of the refocusing of the material to suit the needs of accounting professionals into the twenty-first century. Among the changes in this edition that were designed to accomplish this objective are:
Expanded use of the Web by including cases and updates on the textbook companion site at wiley.com/college/schroeder
Added a tutorial on the FASB ASC in the solutions manual
Added a test bank to the solutions manual containing over 250 multiple choice and over 200 essay questions
Updated the disclosure examples throughout the chapters and updated the financial analysis sections of each chapter using Hershey and Tootsie Roll as the example companies
Added 5 - 10 FASB ASC cases in each chapter
Added new "Room for Debate" cases in several chapters
Updated the discussion of the sources of GAAP to incorporate the FASB ASC in Chapter 1
Updated the discussion of the FASB-IASB "Norwich Agreement" and their joint conceptual framework and financial statement presentation projects
Updated the discussion of the FASB-IASB "Roadmap to Convergence" project that is attempting to arrive at a common set of high-quality global accounting standards
Updated the discussion of the impact of international versus U.S. GAAP accounting standards to incorporate the SEC's decision to partially eliminate the Form 20-F reconciliation requirement for foreign companies
Added a discussion FASB-IASB financial statement presentation project including examples of the proposed format of the financial statements in Chapters 6 and 7
Added discussions of all current FASB-IASC joint projects in the appropriate text chapters
Updated each chapter to incorporate new pronouncements released by the FASB and IASC since the publication of the 9th edition
Product Details
ISBN-13: | 9781118582794 |
---|---|
Publisher: | Wiley |
Publication date: | 11/11/2013 |
Edition description: | Older Edition |
Pages: | 672 |
Product dimensions: | 6.00(w) x 8.90(h) x 1.00(d) |
Table of Contents
Preface iii
1 The Development of Accounting Theory 1
The Early History of Accounting 2
Accounting in the United States since 1930 5
The Role of Ethics in Accounting 21
International Accounting Standards 25
Cases 27
FASB ASC Research 29
Room for Debate 30
2 The Pursuit of the Conceptual Framework 31
The Early Theorists 31
Early Authoritative and Semi-Authoritatve Organizational Attempts to Develop the Conceptual Framework of Accounting 34
The FASB's Conceptual Framework Project 45
Principles-Based versus Rules-Based Accounting Standards 58
International Convergence 63
Cases 73
FASB ASC Research 76
Room for Debate 77
3 International Accounting 78
International Business Accounting Issues 79
The Development of Accounting Systems 79
Preparation of Financial Statements for Foreign Users 81
The International Accounting Standards Committee 82
Revising the IASB's Constitution 88
The Uses of International Accounting Standards 90
Current Issues 91
The IASB Annual Improvements Project 92
The Use of IASC Standards 93
The IASB-FASB Convergence Project 93
The Impact of International versus U.S. GAAP Accounting Standards 97
Standards Overload 99
Framework for the Preparation and Presentation of Financial Statements 100
Comparison of the IASB's and FASB's Conceptual Frameworks 103
IAS No. 1 and IFRS No. 1 107
Cases 109
FASB ASC Research 110
Room for Debate 111
4 Research Methodology and Theories on the Uses of Accounting Information 112
Research Methodology 113
The Outcomes of Providing Accounting Information 115
The Relationship Among Research, Education, and Practice 129
Cases 130
FASB ASC Research 132
Room for Debate 132
5 Income Concepts 134
The Nature of Income 136
Income Recognition 141
Earnings Quality, Earnings Management, and Fraudulent Financial Reporting 154
Cases 159
FASB ASC Research 163
Room for Debate 164
6 Financial Statements I: The Income Statement 166
The Economic Consequences of Financial Reporting 166
Income Statement Elements 167
Statement Format 168
Proposed Format of the Statement of Comprehensive Income 192
The Value of Corporate Earnings 195
International Accounting Standards 199
Cases 203
FASB ASC Research 209
Room for Debate 210
7 Financial Statements II: The Balance Sheet and the Statement of Cash Flows 211
The Balance Sheet 212
Fair Value Measurements Under SFAS No. 157 224
Proposed Format of the Statement of Financial Position 229
Evaluating a Company's Financial Position 231
The Statement of Cash Flows 235
Financial Analysis of Cash-flow Information 246
International Accounting Standards 247
Cases 249
FASB ASC Research 253
Room for Debate 254
8 Working Capital 255
Development of the Working Capital Concept 255
Current Usage 257
Components of Working Capital 258
Financial Analysis of a Company's Working Capital Position 270
International Accounting Standards 276
Cases 277
FASB ASC Research 281
Room for Debate 282
9 Long-Term Assets I: Property, Plant, and Equipment 284
Property, Plant, and Equipment 284
Financial Analysis of Property, Plant, and Equipment 289
International Accounting Standards 300
Cases 305
FASB ASC Research 310
Room for Debate 311
10 Long-Term Assets II: Investments and Intangibles 313
Investments in Equity Securities 313
Investments in Debt Securities 322
Impairment of Investments in Unsecuritized Debt 325
Transfers of Financial Assets 326
Intangibles 327
Financial Analysis of Investments and Intangibles 337
International Accounting Standards 337
Cases 343
FASB ASC Research 347
Room for Debate 348
11 Long-Term Liabilities 350
The Definition of Liabilities 351
Recognition and Measurement of Liabilities 352
Debt versus Equity 352
Long-Term Debt Classification 357
Other Liability Measurement Issues 370
Troubled Debt Restructurings 375
Financial Analysis of Long-Term Debt 378
International Accounting Standards 381
Cases 385
FASB ASC Research 390
Room for Debate 392
12 Accounting for Income Taxes 393
Historical Perspective 393
The Income Tax Allocation Issue 395
SFAS No. 109 411
Financial Analysis of Income Taxes 417
International Accounting Standards 420
Cases 423
FASB ASC Research 426
Room for Debate 427
13 Leases 429
Accounting for Leases 430
Financial Analysis of Leases 444
International Accounting Standards 447
Cases 449
FASB ASC Research 453
Room for Debate 454
14 Pensions and Other Postretirement Benefits 456
Historical Perspective 458
Accounting for the Pension Fund 469
The Employee Retirement Income Security Act 470
Other Postretirement Benefits 470
SFAS No. 132 473
SFAS No. 158 473
Financial Analysis of Pension and Other Postretirement Benefits 475
International Accounting Standards 476
Cases 477
FASB ASC Research 479
Room for Debate 481
15 Equity 482
Theories of Equity 483
Definition of Equity 488
Reporting Equity 491
Financial Analysis of Stockholders' Equity 505
International Accounting Standards 506
Cases 508
FASB ASC Research 513
Room for Debate 514
16 Accounting for Multiple Entities 515
Business Combinations 515
Accounting for Business Combinations 516
Business Combinations II 522
Theories of Consolidation 525
Noncontrolling Interest 526
Drawbacks of Consolidation 529
Special-Purpose Entities 530
Segment Reporting 531
Foreign Currency Translation 536
International Accounting Standards 544
Cases 548
FASB ASC Research 551
Room for Debate 552
17 Financial Reporting Disclosure Requirements and Ethical Responsibilities 554
Recognition and Measurement Criteria 554
Areas Directly Affected by Existing FASB Standards-Supplementary Information 558
Other Means of Financial Reporting 562
Other Useful Information for Investment, Credit, and Similar Decisions 565
Securities and Exchange Commission 567
Ethical Responsibilities 576
International Accounting Standards 583
Cases 584
FASB ASC Research 588
Room for Debate 590
Index 593