The seventh edition of this popular and established text, Financial Reporting, combines financial accounting theory with a detailed examination of the legal and regulatory framework of accounting. The clear explanations, interspersed with activities and feedback to stimulate interest in the topics, make it the ideal text for second and third year students of accounting, MBA and professional students. Financial Reporting has been completely revised and updated to incorporate the first International Financial Reporting Standard (IFRS 1), the latest Financial Reporting Standards (FRS) and Financial Reporting Exposure drafts (FREDS). Written in a clear and accessible style, the text covers the latest ASB documents up to and including FRS19 on deferred tax. A supporting website provides the Instructor's Manual on a password-protected part of the site.
|Publisher:||Cengage Learning EMEA Higher Education|
About the Author
David Alexander is Professor of Accounting at the University of Birmingham and a former senior examiner for one of the major UK accounting bodies.
Anne Britton was a Professor of Accounting, Associate Dean of the Business School and Head of the School of Accounting and Finance at Leeds Metropolitan University before retirement and is now an academic consultant.
Table of ContentsPART I: THE CONCEPTUAL FRAMEWORK 1. Accounting Theory , or Accounting Can Be Interesting 2. The Objectives of Financial Statements and Their Usefulness to the General User Groups 3. Traditional Accounting Conventions 4. Economic Valuation Concepts 5. Current Entry Values 6. Current Exit Value and Mixed Values 7. Current Purchasing Power Accounting 8. The UK Position: Past, Present and Future? 9. Some Possible Extensions to the Accounting Framework 10. Towards a General Framework 11. The International Dimension PART II: THE LEGAL FRAMEWORK 12. Limited Liability Companies 13. The Companies Acts and Published Accounts PART III: THE REGULATORY FRAMEWORK 14. The Accounting Standard Setting Process 15. Accounting Principles 16. Fixed Assets and Goodwill 17. Research and Development (SSAP 13) 18. Substance Over Form 19. Leases and Hire Purchase Contract (SSAP 21) 20. Stock and Long-Term Contracts (SSAP 9) 21. Taxation (SSAPs 5, 8 and 15). 22. Pension Costs (SSAP 24) 23. Post-Balance Sheet Events and Provisions and Contingencies (SSAP 17, FRS 12) 24. Group Accounts and Associated Companies (SSAP 1 and FRS 2,6,7,8) 25. Foreign Currency Translation (SSAP 20) 26. Reporting Financial Performance (SSAP 3, 25 and FRS 3) 27. Case Flow Statements (FRS 1) 28. Interpretation of Financial Statements 29. Financial Statement Analysis Appendix: Summary of FRS 15 'Tangible Fixed Assets'