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Advanced financial accounting : An IFRS standards approach
With the internationalization of accounting standards and their rapid rate of change, accounting students worldwide need to have a rigorous understanding of International Accounting Standards (IAS® Standards) and International Financial Reporting Standards (IFRS® Standards) as well as the ability to apply the recognition, measurement and disclosure requirements of these standards to complex transactions. The learning curve for aspiring accountants in today’s dynamic accounting environment is steep and the challenge for accounting students is to develop expertise with insight.
As accounting educators who have taught advanced financial accounting for several years and who have worked in senior-level positions in auditing and corporate accounting, we understand the challenges that accounting students face. As a result, we have, over the years, developed approaches and explanations to help accounting students learn complex rules in a rigorous, analytical and insightful manner. In this new edition, we present the rigour of the requirements of accounting standards as applied to complex transactions, with generous explanations and many illustrations.
As accounting professors, we believe that students learn best when they understand the rationale for the accounting methods or procedures used. Hence, this textbook has many generous explanations of the accounting entries and procedures used. We also highlight the analytical relationships among complex financial statement numbers in business combinations, foreign currency translation and accounting for taxes on income. Students may use these analytical relationships to check or reconcile their calculations.
We have developed unique analytical procedures that help students to derive reported items in consolidated financial statements independently of consolidated journal entries. These analytical checks page ixare useful in more ways than one. They develop a deeper understanding of the components that are included in the final numbers reported. They also provide an independent means of checking the results of the consolidation process.
The author team includes a co-author who is a practitioner with many years of auditing experience and who is actively engaged in technical development and training in his firm. Our practitioner co-author brings valuable new content and insights on complex accounting issues. The new content benefits both advanced accounting students at undergraduate and postgraduate levels and practitioners alike. In today’s dynamic landscape, this book also serves as a useful primer for practitioners who seek clarity of principles and processes in the application of accounting standards to complex accounting issues.
As accounting standards become more comprehensive and economic transactions become more complex, it is necessary for accounting professors to equip their students to deal with these issues with confidence. Inevitably, classroom time is limited but in many senior level courses, the more complex materials in the book may be used fruitfully by adopting professors to feature the topics as part of a project assignment. Accounting professors may ask their students to analyze the basis of conclusions on which the requirements are built or apply the principles to real-life cases. Examples of complex materials include reverse acquisitions, change in ownership interests in significant influence and joint control, common control and derivatives on own equity. The text provides the critical basis for further exploratory assignments.
We highlight below some of the special features in this text.
Focus on IFRS Standards that deal with complex accounting
As with the 3rd edition, this new edition continues to provide in-depth coverage of International Financial Reporting Standards that deal with complex business phenomena. These standards include IFRS 9 Financial Instruments, IFRS 3 Business Combinations, IFRS 10 Consolidated Financial Statements, IAS 27 Separate Financial Statements, IAS 28 Investments in Associates and Joint Ventures, IAS 21, The Effects of Changes in Foreign Exchange Rates, IFRS 2 Share-based Payment among others. New and enhanced features relating to the application of the above standards are highlighted below.
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Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| 657. 044 TAN a | PSB lt.1 - B. Wajib | 1 |
| Penerbit | New York Mc Graw Hill., 2020 |
|---|---|
| Edisi | 4 |
| Subjek | Financial accounting |
| ISBN/ISSN | 9789814821278 |
| Klasifikasi | 657. 044 |
| Deskripsi Fisik | xv, 1245 p. : ill. ; 30 cm |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |
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