Financial Accounting and Reporting by Barry Elliott Paperback Book

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Financial Accounting and Reporting

by Barry Elliott, Jamie Elliott

Introduce your students to the challenges of financial accounting. Financial Accounting and Reporting, 20th edition is an essential resource offering an academic and practical understanding of the subject. With a thorough discussion on financial statements, this market-leading text will help your students build their skills for a career in the field.

FORMAT Paperback CONDITION Brand New

Publisher Description

Gain an academic and practical understanding of financial accounting and reporting with this comprehensive textbook and learn how to prepare and discuss financial statements in the real world. Financial Accounting and Reporting, 20th edition,by Jamie & Barry Elliott provides a comprehensive overview of this demanding subject, equipping you with the knowledge to prepare and critically discuss financial statements. This edition provides enhanced coverage of financial statements interpretation according to the IFRS, considering all the risk factors that companies and accountants need to tackle on a daily basis. With this in mind, the book offers an extensive analysis of the topics and risks to support your understanding of the issues both on a commercial and technical level. Additionally, the latest edition offers further discussion on ethical issues and accountability, ensuring you get the tools and knowledge you need to advance your studies and career in the field. Key features

  • Improved flowof topics and revised explanations make the text even easier to follow and understand.
  • Exercises of varying difficulty include questions from past examination papers of professional accounting bodies.
  • Updated illustrations, taken from real-world examples of international companies' reports and accounts, demonstrate the application of key principles in practice.
  • Up-to-date content includes new material on accountability, sustainability, ethical problems, and the future of audit services.
  • Includesthe latest accounting standards, as set out intheIFRS,IASandthe Conceptual Framework for Financial Reporting, as well as a discussion of theproposed IFRS on General Presentation and Disclosure.
Meeting the ethical, judgmental, and technological challenges as an accountant requires thorough academic and professional preparation. This market-leading text provides the foundation necessary to help you develop the technical and critical skills you need to excel later in your career. For Second Year Financial Accounting modules or modules on Financial Reporting on undergraduate and MBA courses. Personalise learning with MyLab® Accounting. By combining trusted author content with digital tools and a flexible platform, MyLab Economics personalises the learning experience and improves results for each student. 9781292409092 Financial Accounting and Reporting, 20th edition with MyLab® Accounting Pack consists of:
  • 9781292399805Financial Accounting and Reporting20th edition
  • 9781292401034 Financial Accounting and Reporting20th edition MyLab Accounting
  • 9781292401041 Financial Accounting and Reporting20th edition PearsoneText
NOTE: Before purchasing, check with your instructor to confirm the correct ISBN. Several versions of the MyLab® platforms exist for each title, and registrations are not transferable. To register for and use MyLab Accounting, you may also need a Course ID, which your instructor will provide. Used books, rentals, and purchases made outside of Pearson: If purchasing or renting from companies other than Pearson, the access codes for the MyLab platform may not be included, be incorrect, or previously redeemed. Check with the seller before completing your purchase.

Back Cover

''Well-structured, informative, and enriched with relevant examples. The coverage of established and contemporary issues within financial accounting and reporting is comprehensive.'' Dr Chloe Wu, Lecturer and Assistant Professor in Accounting and Finance, University of Leeds The20th edition of Financial Accounting and Reporting by Jamie Elliott and Barry Elliott provides a comprehensive overview of financial accounting and reporting,equipping you with the knowledgetoprepareandcritically discussIFRS compliant financial statements,and introducing you to thecommercial issues surrounding these.Now with enhanced coverage of interpretation of financial statements, ethical issues and accountability,the authors provide essential knowledge for advancing your studies and career. A hallmark of this textbook,itcontinues to provide abalance oftheoretical principles and up-to-date practical application of current international standards. Key features Exercises of varying difficulty including questions from past examination papers of professional accounting bodies Illustrations taken from real-world international company reports and accounts, whichhave been updated for this edition andhelp to demonstrate the applications of key principles in the life of real companies Up-to-date content includingnew materialon accountability,sustainability,ethical problemsand the future of audit services Includesthe latest accounting standards set out intheIFRS,IASandthe Conceptual Framework for Financial Reporting, plus a discussion of theproposed IFRS on General Presentation and Disclosure Improved flowof topics and revised explanations makes the text even easier to follow and use Instructors, pair this text withMyLabAccounting MyLab(tm) is the teaching and learning platform that allowsyouto reach every student with powerful self-study material and assessments. By combining trusted author content with digital tools and a flexible platform,MyLabpersonalisesthe learning experience and improves results for each student.MyLabAccountinghas been expanded for this editionto better align with accounting exam requirementsandnowincludes over1600questions that can be assigned to students. Jamie Elliottis adirector who has worked for Deloitte, Huawei, Panasonic and Mott MacDonald. Prior to that, he lectured on undergraduate degree programmes and as Assistant Professor on MBA and Executive Education programmes at the London Business School. Barry Elliotthas extensive teaching experience at undergraduate, postgraduate and professional levels in England, New Zealand, China, Hong Kong and Singapore. He has worked for Coopers & Lybrand as a Training Manager in London and National Training Manager in Australia. He has wide experience as an external examiner in higher education at all levels of professional education.

Author Biography

Jamie Elliott is a director who has worked for Deloitte, Huawei, Panasonic, and Mott MacDonald. Prior to his corporate career, he lectured in undergraduate degree programmes and was Assistant Professor in MBA and Executive Education programmes at the London Business School. Barry Elliott has extensive teaching experience in undergraduate, postgraduate, and professional programmes in England, New Zealand, China, Hong Kong, and Singapore. He has worked for Coopers & Lybrand as a Training Manager in London and National Training Manager in Australia. He has extensive experience as an external examiner in higher education at all levels of professional education.

Table of Contents

Brief contents: PART 1 INTRODUCTION TO ACCOUNTING ON A CASH FLOW AND ACCRUAL ACCOUNTING BASIS

  • Accounting and reporting on a cash flow basis
  • Accounting and reporting on an accrual accounting basis PART 2 PREPARATION OF INTERNAL AND PUBLISHED FINANCIAL STATEMENTS
  • Preparation of financial statements of profit or loss and other comprehensive income, changes in equity and financial position
  • Annual report: additional financial disclosures
  • Statements of cash flows
  • Accounting for price-level changes PART 3 REGULATORY FRAMEWORK – AN ATTEMPT TO ACHIEVE UNIFORMITY
  • Financial reporting – evolution of global standards
  • Concepts – evolution of an international conceptual framework
  • Revenue recognition PART 4 STATEMENT OF FINANCIAL POSITION – EQUITY, LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE
  • Share capital, distributable profits and reduction of capital
  • Liabilities
  • Financial instruments
  • Employee benefits
  • Taxation in company accounts
  • Property, plant and equipment (PPE)
  • Leasing
  • Intangible assets
  • Inventories
  • Construction contracts PART 5 CONSOLIDATED ACCOUNTS
  • Accounting for groups at the date of acquisition
  • Preparation of consolidated statements of financial position after the date of acquisition
  • Preparation of consolidated statements of profit or loss, changes in equity and cash flows
  • Accounting for associates and joint arrangements
  • Introduction to accounting for exchange differences PART 6 INTERPRETATION
  • Earnings per share
  • Review of financial ratio analysis
  • Analysis of published financial statements PART 7 ACCOUNTABILITY
  • Corporate governance
  • Ethical behaviour and implications for accountants
  • Integrated reporting: sustainability, environmental and social Index Full contents: PART 1 INTRODUCTION TO ACCOUNTING ON A CASH FLOW AND ACCRUAL ACCOUNTING BASIS
  • 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
    • 1.13 Micro businesses
    Summary Review questions Exercises Notes
  • 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 Reformatting the statement of financial position
    • 2.6 Accounting for the sacrifice of non-current assets
    • 2.7 Published statement of cash flows
    Summary Review questions Exercises Notes PART 2 PREPARATION OF INTERNAL AND PUBLISHED FINANCIAL STATEMENTS
  • Preparation of financial statements of profit or loss and other comprehensive income, changes in equity and financial position
    • 3.1 Introduction
    • 3.2 Preparing an internal statement of profit or loss from a trial balance
    • 3.3 Reorganising 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 information to be presented in the profit or loss section
    • 3.7 Other comprehensive income
    • 3.8 Presentation of non-recurring items and their effect on operating income
    • 3.9 How decision-useful is the statement of profit or loss and other comprehensive income?
    • 3.10 Statement of changes in equity
    • 3.11 The statement of financial position
    • 3.12 The explanatory notes that are part of the financial statements
    • 3.13 Has prescribing the formats meant that identical transactions are reported identically?
    • 3.14 Fair presentation
    • 3.15 What does an investor need in addition to the primary financial statements to make decisions?
    • 3.16 IAS 1 ED General Presentation and Disclosures
    Summary Review questions Exercises Notes
  • Annual report: additional financial disclosures
    • 4.1 Introduction
    • 4.2 IAS 10 Events after the Reporting Period
    • 4.3 IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
    • 4.4 What do segment reports provide?
    • 4.5 IFRS 8 Operating Segments 80
    • 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 IAS 24 Related Party Disclosures
    Summary Review questions Exercises Notes
  • Statements of cash flows
    • 5.1 Introduction
    • 5.2 Development of statements of cash flows
    • 5.3 Applying IAS 7 (revised) Statement 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 answering questions with time constraints
    • 5.8 Preparing a statement of cash flows when no statement of income is available
    • 5.9 Critique of cash flow accounting
    Summary Review questions Exercises Notes
  • Accounting for price-level changes
    • 6.1 Introduction
    • 6.2 Review of the problems of historical cost accounting (HCA)
    • 6.3 Inflation accounting
    • 6.4 The concepts in principle
    • 6.5 The four models illustrated for a company with cash purchases and sales
    • 6.6 Critique of each model
    • 6.7 Operating capital maintenance – a comprehensive example
    • 6.8 Critique of CCA statements
    • 6.9 Measurement bases
    • 6.10 The IASB position where there is hyperinflation
    • 6.11 Future developments
    Summary Review questions Exercises Bibliography Notes PART 3 REGULATORY FRAMEWORK – AN ATTEMPT TO ACHIEVE UNIFORMITY
  • Financial reporting — evolution of global standards
    • 7.1 Introduction
    • 7.2 Why do we need financial reporting standards?
    • 7.3 Why do we need standards to be mandatory?
    • 7.4 Arguments in support of standards
    • 7.5 Arguments against standards
    • 7.6 The Financial Reporting Council (FRC) as a regulatory body
    • 7.7 The International Accounting Standards Board
    • 7.8 Standard setting and enforcement in the European Union (EU)
    • 7.9 Standard setting and enforcement in the US
    • 7.10 Advantages and disadvantages of global standards for publicly accountable entities
    • 7.11 How do reporting requirements differ for non-publicly accountable entities?
    • 7.12 IFRS for SMEs
    • 7.13 Why have there been differences in financial reporting?
    • 7.14 Move towards a conceptual framework
    Summary Review questions Exercises Notes
  • Concepts — evolution of an international conceptual framework
    • 8.1 Introduction
    • 8.2 Different countries meant different financial statements
    • 8.3 Historical overview of the evolution of financial accounting theory
    • 8.4 Developing the Framework for the Preparation and Presentation of Financial Statements
    • 8.5 Conceptual Framework for Financial Reporting 2018
    • 8.6 Current developments – concept of materiality
    Summary and evaluation of position to date Review questions Exercises
  • Revenue recognition
    • 9.1 Introduction
    • 9.2 The issues involved in developing the new standard
    • 9.3 IFRS 15 Revenue from Contracts with Customers
    • 9.4 Five-step process to identify the amount and timing of revenue
    • 9.5 Disclosures
    Summary Review questions Exercises Notes PART 4 STATEMENT OF FINANCIAL POSITION — EQUITY, LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE
  • Share capital, distributable profits and reduction of capital
    • 10.1 Introduction
    • 10.2 Common themes
    • 10.3 Total owners' equity: an overview
    • 10.4 Total shareholders' funds: more detailed explanation
    • 10.5 Accounting entries on issue of shares
    • 10.6 Creditor protection: capital maintenance concept
    • 10.7 Creditor protection: why capital maintenance rules are necessary
    • 10.8 Creditor protection: how to quantify the amounts available to meet creditors' claims
    • 10.9 Issued share capital: minimum share capital
    • 10.10 Distributable profits: general considerations
    • 10.11 Distributable profits: how to arrive at the amount using relevant accounts
    • 10.12 When may capital be reduced?
    • 10.13 Writing off part of capital which has already been lost and is not represented by assets
    • 10.14 Repayment of part of paid-in capital to shareholders or cancellation of unpaid share capital
    • 10.15 Purchase of own shares
    Summary Review questions Exercises Notes
  • Liabilities
    • 11.1 Introduction
    • 11.2 Provisions — a decision tree approach to their impact on the statement of financial position
    • 11.3 Treatment of provisions
    • 11.4 The general principles that IAS 37 applies to the recognition of a provision
    • 11.5 Management approach to measuring the amount of a provision
    • 11.6 Application of criteria illustrated
    • 11.7 Provisions for specific purposes
    • 11.8 Contingent liabilities
    • 11.9 Contingent assets
    • 11.10 Criticisms of IAS 37
    • 11.11 Future progress
    Summary Review questions Exercises Notes
  • Financial instruments
    • 12.1 Introduction
    • 12.2 Financial instruments – the IASB's problem child
    • 12.3 IAS 32 Financial Instruments: Disclosure and Presentation
    • 12.4 IFRS 9 Financial Instruments
    • 12.5 IFRS 7 Financial Instruments: Disclosure
    Summary Review questions Exercises Notes
  • Employee benefits
    • 13.1 Introduction
    • 13.2 Greater employee interest in pensions
    • 13.3 Financial reporting implications
    • 13.4 Types of scheme
    • 13.5 Accounting for defined contribution pension schemes
    • 13.6 Accounting for defined benefit pension schemes
    • 13.7 IAS 19 Employee Benefits
    • 13.8 The asset or liability for pension and other post-retirement costs
    • 13.9 Changes in the pension asset or liability position
    • 13.10 Comprehensive illustration
    • 13.11 Multi-employer plans
    • 13.12 Disclosures
    • 13.13 Other long-service benefits
    • 13.14 Short-term benefits
    • 13.15 Termination benefits
    • 13.16 IFRS 2 Share-based Payment
    • 13.17 Scope of IFRS 2
    • 13.18 Recognition and measurement
    • 13.19 Equity-settled share-based payments
    • 13.20 Cash-settled share-based payments
    • 13.21 Transactions which may be settled in cash or shares
    • 13.22 IAS 26 Accounting and Reporting by Retirement Benefit Plans
    Summary Review questions Exercises Notes
  • Taxation in company accounts
    • 14.1 Introduction
    • 14.2 Corporation tax
    • 14.3 Corporation tax systems — the theoretical background
    • 14.4 Dividends pre- and post-2016
    • 14.5 Corporation tax systems – avoidance and evasion
    • 14.6 IAS 12 — accounting for current taxation
    • 14.7 Deferred tax
    • 14.8 A critique of deferred taxation
    • 14.9 Value added tax (VAT)
    Summary Review questions Exercises Notes
  • Property, plant and equipment (PPE)
    • 15.1 Introduction
    • 15.2 PPE — concepts and the relevant IASs and IFRSs
    • 15.3 What is PPE?
    • 15.4 How is the cost of PPE determined?
    • 15.5 What is depreciation?
    • 15.6 What are the constituents in the depreciation formula?
    • 15.7 Calculation of depreciation
    • 15.8 Measurement subsequent to initial recognition
    • 15.9 IAS 36 Impairment of Assets
    • 15.10 IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
    • 15.11 Disclosure requirements
    • 15.12 Government grants towards the cost of PPE
    • 15.13 Investment properties
    • 15.14 Effect of accounting policy for PPE on the interpretation of the financial statements
    Summary Review questions Exercises Notes
  • Leasing
    • 16.1 Introduction
    • 16.2 Need for an accounting standard on leasing
    • 16.3 Terms and conditions of a lease
    • 16.4 Leases in the financial statements of lessees under IFRS 16
    • 16.5 Leases in the financial statements of lessors
    • 16.6 Sale and leaseback transactions
    Summary Review questions Exercises Notes
  • Intangible assets
    • 17.1 Introduction
    • 17.2 Intangible assets defined
    • 17.3 Accounting treatment for research and development
    • 17.4 Why is research expenditure not capitalised?
    • 17.5 Capitalising development costs
    • 17.6 Disclosure of R&D
    • 17.7 IFRS for SMEs' treatment of intangible assets
    • 17.8 Internally generated and purchased goodwill
    • 17.9 The accounting treatment of goodwill
    • 17.10 Critical comment on the various methods that have been used to account for goodwill
    • 17.11 Negative goodwill/badwill
    • 17.12 Brands
    • 17.13 Accounting for acquired brands
    • 17.14 Intellectual capital disclosures (ICDs) in the annual report
    • 17.15 Review of implementation of IFRS 3
    • 17.16 Review of the implementation of identified intangibles under IAS 38
    Summary Review questions Exercises Notes
  • Inventories
    • 18.1 Introduction
    • 18.2 Inventory defined
    • 18.3 The impact of inventory valuation on profits
    • 18.4 IAS 2 Inventories
    • 18.5 Inventory valuation
    • 18.6 Work in progress
    • 18.7 Inventory control
    • 18.8 Creative accounting
    • 18.9 Audit of the year-end physical inventory count
    • 18.10 Published accounts
    • 18.11 Agricultural activity
    Summary Review questions Exercises Notes
  • Construction contracts
    • 19.1 Introduction
    • 19.2 Construction contracts
    • 19.3 IFRS 15 treatment of construction contracts
    • 19.4 Accounting for a contract – an example
    • 19.5 Illustration — loss-making contract using the step approach
    • 19.6 Public & private partnerships
    • 19.7 Requirements of IFRIC 12 Service Concession Arrangements
    • 19.8 Worked example of service concession accounting
    Summary Review questions Exercises Notes PART 5 CONSOLIDATED ACCOUNTS
  • Accounting for groups at the date of acquisition
    • 20.1 Introduction
    • 20.2 Preparing consolidated accounts for a wholly owned subsidiary
    • 20.3 IFRS 10 Consolidated Financial Statements
    • 20.4 Fair values
    • 20.5 Illustration where there is a wholly owned subsidiary
    • 20.6 Preparing consolidated accounts when there is a partly owned subsidiary
    • 20.7 The treatment of differences between a subsidiary's fair value and book value
    • 20.8 The parent issues shares to acquire shares in a subsidiary
    • 20.9 IFRS 3 Business Combinations treatment of goodwill at the date of acquisition
    • 20.10 When may a parent company not be required to prepare consolidated accounts?
    • 20.11 When may a parent company exclude or not exclude a subsidiary from a consolidation?
    • 20.12 IFRS 13 Fair Value Measurement
    • 20.13 What advantages are there for stakeholders from requiring groups to prepare consolidated accounts?
    Summary Review questions Exercises Notes
  • Preparation of consolidated statements of financial position after the date of acquisition
    • 21.1 Introduction
    • 21.2 Uniform accounting policies and reporting dates
    • 21.3 Pre- and post-acquisition profits/losses
    • 21.4 The Bend Group — assuming there have been no inter-group transactions
    • 21.5 Inter-company transactions
    • 21.6 The Prose Group — assuming there have been inter-group transactions
    Summary Review questions Exercises Notes
  • Preparation of consolidated statements of profit or loss, changes in equity and cash flows
    • 22.1 Introduction
    • 22.2 Eliminate inter-company transactions
    • 22.3 Preparation of a consolidated statement of profit or loss – the Ante Group
    • 22.4 The statement of changes in equity (SOCE)
    • 22.5 Other consolidation adjustments
    • 22.6 A subsidiary acquired part-way through the year
    • 22.7 Published format statement of profit or loss
    • 22.8 Consolidated statements of cash flows
    Summary Review questions Exercises Notes
  • Accounting for associates and joint arrangements
    • 23.1 Introduction
    • 23.2 Definitions of associates and of significant influence
    • 23.3 The treatment of associated companies in the financial statements of the investor
    • 23.4 The Brill Group — group accounts with a profit-making associate
    • 23.5 The Brill Group — group accounts with a loss-making associate
    • 23.6 The acquisition of an associate part-way through the year
    • 23.7 Joint arrangements
    • 23.8 Disclosure in the financial statements
    Summary Review questions Exercises Notes
  • Introduction to accounting for exchange differences
    • 24.1 Introduction
    • 24.2 How to record foreign currency transactions in a company's own books
    • 24.3 Boil plc — a more detailed illustration
    • 24.4 IAS 21 Concept of Functional and Presentation Currencies
    • 24.5 Translating the functional currency into the presentation currency
    • 24.6 Preparation of consolidated accounts
    • 24.7 How to reduce the risk of translation differences
    • 24.8 Critique of the use of presentational currency
    • 24.9 IAS 29 Financial Reporting in Hyperinflationary Economies
    Summary Review questions Exercises Notes PART 6 INTERPRETATION
  • Earnings per share
    • 25.1 Introduction
    • 25.2 Why is the earnings per share figure important?
    • 25.3 How is the EPS figure calculated?
    • 25.4 The use to shareholders of the EPS
    • 25.5 Illustration of the basic EPS calculation
    • 25.6 Adjusting the number of shares used in the basic EPS calculation
    • 25.7 Rights issues
    • 25.8 Adjusting the earnings and number of shares used in the diluted EPS calculation
    • 25.9 Procedure where there are several potential dilutions
    • 25.10 Exercise of conversion rights during the financial year
    • 25.11 Disclosure requirements of IAS 33
    • 25.12 Enhanced disclosures
    Summary Review questions Exercises Notes
  • Review of financial ratio analysis
    • 26.1 Introduction
    • 26.2 Overview of techniques for the analysis of financial data
    • 26.3 Ratio analysis — a case study
    • 26.4 Introductory review
    • 26.5 Financial statement analysis, part 1 — financial performance
    • 26.6 Financial statement analysis, part 2 — liquidity
    • 26.7 Financial statement analysis, part 3 — financing
    • 26.8 Peer comparison
    • 26.9 Report based on the analysis
    • 26.10 Caution when using ratios for prediction
    Summary Review questions Exercises
  • Analysis of published financial statements
    • 27.1 Introduction
    • 27.2 Alternative performance measures
    • 27.3 EBITDA
    • 27.4 EBITDAR
    • 27.5 EBITDARM
    • 27.6 Regulators' reaction to use of an alternative management performance measure (APM)
    • 27.7 Use of ratios as thresholds
    • 27.8 Predicting corporate failure
    • 27.9 Investor-specific ratios
    • 27.10 Published financial statements — their limitations for interpretation purposes
    • 27.11 Improvement of information for shareholders
    • 27.12 Valuing shares of an unquoted company — quantitative process
    • 27.13 Valuing shares of an unquoted company — qualitative process
    • 27.14 Possible effects of a pandemic (Covid-19)
    • 27.15 Possible effects of Brexit
    Summary Review questions Exercises Notes PART 7 ACCOUNTABILITY
  • Corporate governance
    • 28.1 Introduction
    • 28.2 A systems perspective
    • 28.3 Different jurisdictions have different governance priorities
    • 28.4 The effect on capital markets of good corporate governance
    • 28.5 Risk management
    • 28.6 The role of internal control, internal audit and audit committees in corporate governance
    • 28.7 External audits in corporate governance
    • 28.8 Detection of fraud
    • 28.9 The Regulator's approach to promoting improved disclosures
    • 28.10 International perspective (IFIAR)
    • 28.11 The future of audit
    • 28.12 Executive remuneration in the UK
    • 28.13 Corporate governance — ways to make directors accountable
    Summary Review questions Exercises Notes
  • Ethical behaviour and implications for accountants
    • 29.1 Introduction
    • 29.2 The meaning of ethical behaviour
    • 29.3 The accounting standard-setting process and ethics
    • 29.4 The International Code of Ethics for Professional Accountants 2018
    • 29.5 Implications of ethical values for the principles — versus rules-based approaches to accounting standards
    • 29.6 Ethics in the accountant's work environment — a research report
    • 29.7 Implications of unethical behaviour for stakeholders using the financial reports
    • 29.8 The increasing role of whistle-blowing
    • 29.9 Legal requirement to report — national and international regulation
    • 29.10 Why should students learn ethics?
    Summary Review questions Exercises Notes
  • Integrated reporting: sustainability, environmental and social
    • 30.1 Introduction
    • 30.2 Environmental and social disasters, the adverse consequences that can follow and the lessons to be learnt
    • 30.3 Management accountability for environmental and social responsibility
    • 30.4 Integrated reporting concepts
    • 30.5 The historical context of the evolution of integrated reporting including the drivers of this movement
    • 30.6 The seriousness of current threats: sustainability — climate change and pollution
    • 30.7 The efforts on which integrated reporting builds
    • 30.8 The contribution of accountants
    • 30.9 Integrated reporting — its impact on the future development of financial reporting and accounting
    • 30.10 Reporting to stakeholders to account for stewardship
    • 30.11 Reporting to stakeholders to assist decision making
    • 30.12 Real-time reporting
    • 30.13 Other means of communication with stakeholders
    • 30.14 The way forward for improved sustainability disclosure
    Summary Review questions Exercises Notes Publisher's acknowledgements Index

    Review

    "Well-structured, informative, and enriched with relevant examples. The coverage of established and contemporary issues within financial accounting and reporting is comprehensive."  Dr Chloe Wu, Lecturer and Assistant Professor in Accounting and Finance, University of Leeds

    "An excellent well-written text, offering students ample examples to apply and learn. The textbook provides a balanced structure for accounting and non-accounting students." Sajid Bashir, Lecturer & Doctorate Associate in Accounting and Financial Management, Sheffield University Management School 

    Review Text

    "Well-structured, informative, and enriched with relevant examples. The coverage of established and contemporary issues within financial accounting and reporting is comprehensive." Dr Chloe Wu, Lecturer and Assistant Professor in Accounting and Finance, University of Leeds "An excellent well-written text, offering students ample examples to apply and learn. The textbook provides a balanced structure for accounting and non-accounting students." Sajid Bashir, Lecturer & Doctorate Associate in Accounting and Financial Management, Sheffield University Management School

    Feature

    Hallmark Features of This Title Help students make sense of real-life financial accounting and reporting issues. Illustrations, taken from real-world examples of international companies' reports and accounts, demonstrate the application of key principles, supported by a variety of techniques. The easy-to-follow sections on the use and analysis of financial statements provide essential information for financial accounting students. Extensive discussion on the requirements companies must take into account. Enable individual learning and revision with helpful pedagogical features. Learning objectives, end-of-chapter summaries, exercises, and review questions in every chapter cover a range of levels, help students understand core issues and build their confidence around the subject.

    New Feature

    New and updated features of this title New material on accountability, sustainability, ethical problems, and the future of audit services ensures your students are up-to-date with important changes in the field. Additional, frequent reminders throughout the text stress the risks both companies and the accounting profession face and highlight the need for commercial understanding and technical competence. Revised content in the chapter regarding the analysis of financial statements now comes with an improved flow, concentrating on core aspects of performance and cash ratios used by investors. Updated content on the use of alternative performance measures and the possible effects of Covid-19 and Brexit aims to help your students develop their critical thinking skills and facilitate group discussion. Updated with the latest accounting standards set out in the IFRS, IAS, and the Conceptual Framework for Financial Reporting. New discussion of the proposed IFRS on General Presentation and Disclosure. End-of-chapter exercises provide excellent opportunities to test students' knowledge of core ideas, supporting the development of critical thinking and problem-solving skills. The book offers a complete set of solutions, partly within the text and some in the Instructor's Manual.

    Details ISBN1292399805 Author Jamie Elliott Publisher Pearson Education Limited Year 2022 ISBN-10 1292399805 ISBN-13 9781292399805 Edition 20th Format Paperback Imprint Pearson Education Limited Place of Publication Harlow Country of Publication United Kingdom Pages 832 AU Release Date 2022-03-08 NZ Release Date 2022-03-08 Edited by Madhavi Sunder Birth 1964 Affiliation Professor of Law, University of California, Davis, School of Law Position Professor of Law Qualifications Ph.D. Publication Date 2022-03-08 UK Release Date 2022-03-08 Edition Description 20th edition Replaces 9781292255996 DEWEY 657 Audience Tertiary & Higher Education Replaced by 9781292739137

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    • Condition: Brand new
    • Format: Paperback
    • ISBN-13: 9781292399805
    • Author: Barry Elliott, Jamie Elliott
    • Book Title: Financial Accounting and Reporting

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