Description

Advanced Financial Reporting provides a current and comprehensive guide to international accounting standards. Covering both IFRS and IAS, this book adopts a user-friendly structure. By clearly explaining the theory behind each standard and then illustrating its application in worked examples, this text makes a technical subject accessible and easy to understand.

This text has been written primarily for intermediate and advanced students of Financial Reporting studying an undergraduate or masters level programme. It is also appropriate for students studying for professional exams on IFRS.

Features

Key features include:

• Up-to-date research, keeping you informed of the latest developments and accounting rules

• Clear focus on double entry principles throughout will enable you to finely hone your financial accounting skills

• A practical, accessible and easy-to-follow style helps to aid understanding

• Large number of worked examples and solutions provide an insight into how you can apply accounting standards in practice

• End of chapter questions provide an opportunity to test your knowledge and practise your learning

• Comprehensive coverage of every accounting standard: accounting for assets, liabilities, equity, consolidated financial statements, reporting financial performance and financial instruments

Table of Contents

Contents

Part 1: A BRIEF HISTORY OF ACCOUNTING

1. The rise of Accounting                                                                                          
Accounting in ancient times
Evolution of double entry book-keeping
Economic consequences of financial statements
Impact of technological revolution

Part 2: A THEORETICAL FRAMEWORK FOR ACCOUNTING

2. Conceptual framework                                                                                            
Introduction to IASB’s Framework
Objective of financial reporting
Financial statements
      - underlying assumptions
      - qualitative characteristics
      - elements
      - measurement basis
      - recognition criteria
      - capital maintenance concepts

3. Alternative income models                                                                                       Historical cost accounting
Current purchasing power
Current cost accounting

Part 3: FINANCIAL REPORTING REGULATION

4. The regulatory environment                                                                                    
Purpose of regulation
Sources of regulation
Role of management
Impact of financial statements

5. The Annual Report                                                                                                  
Contents of the annual report
Evolution of th

Back Cover

Advanced Financial Reporting: A complete guide to IFRS

Advanced Financial Reporting is a detailed guide to international accounting standards, with coverage of every IFRS and IAS. This includes areas such as accounting for assets, liabilities, equity, consolidated financial statements, reporting financial performance and financial instruments.

 

This text traces the evolution of modern accounting and outlines why accounting standards have global economic consequences. It explains the IASB's conceptual framework, the regulatory environment in which financial statements are prepared and the use of the annual report as a public relations tool. With a focus on the cultural changes required to combat creative accounting in annual reports, this book explores why management often seeks such 'creative accounting' - and how the development of principle-based standards, an increased focus on ethics, improved corporate governance and an emphasis on corporate social responsibility can provide solutions.

 

This text has been written primarily for intermediate and advanced students of financial reporting, and for those preparing for the examinations of the professional accountancy bodies.

 

 

Key features include:

 

• Comprehensive coverage of all IFRSs and IASs.

 

• Up-to-date research, keeping you informed of the latest developments and accounting rules.

 

• Clear focus on double entry principles throughout, to enable you to finely hone your financial accounting skills.

 

• A practical, accessible and easy-to-follow style that aids understanding.

 

• A large number of worked examples and solutions, providing an insight into how you can apply accounting standards in practice.

 

• End-of-chapter questions, affording an opportunity to test your knowledge and practise what you have learnt.

 

 

Derry Cotter is a lecturer in accounting at University College Cork, Ireland.

Author

Derry Cotter is a Lecturer in Accounting at University College Cork, Ireland

Reader Review(s)

'By far the best text on the market.'
Mr John Wyett
Norwich Business School, University Of East Anglia, Norwich, UK