Book Description

This major new textbook is a development of the popular Financial Reporting by Alexander and Britton, and is designed to meet the rapidly emerging demand for coverage of international accounting standards (IASs) and the globalisation of accounting in advanced courses. It is predicated on an IAS framework but the European directives, especially as regards detailed formats having no direct equivalent in IASs, are discussed in detail. The European context and, in the case of important markets, the national context will be recognised and contrasted with the international approach. Important non-European influences, especially those from the US, will also be included in order to provide a genuinely wide-ranging appreciation of the implications of accounting internationalism. Part 1 - contains coverage of the theoretical underpinnings of financial reporting in an international context. It also describes the international, European and domestic regulatory framework of accounting. Part 2 - starts by analysing the legal background of the concept of capital and profit. The relevant parts of the second European directive are introduced and the contents of published financial statements described. The main problem areas of financial reporting as covered by IASs are then analysed. The approach in these chapters consists of discussion of each problem area and its theoretical issues, discussion of the international regulation relating to the problem, and important national and regional representations or variations. Part 3 - covers group accounts in an international context. Part 4 - discusses in depth the availability and transparency of financial information as published, and then the usage and interpretation of that information. The book is student oriented throughout, and contains activities, examples of reporting using IAS from real companiesÂ' accounts, questions and answers.