Financial Accounting and Reporting - koledza.lv

1 Fourteenth EditionFINANCIAL Accounting AND REPORTINGB arry ElliottJamie ElliottFront cover image: Getty Accounting and Reporting is the most up to date text on the market. Now fully updated in its fourteenth edition, it includes extensive coverage of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS).This market-leading text offers students a clear, well-structured and comprehensive treatment of the subject. Supported by illustrations and exercises, the book provides a strong balance of theoretical and conceptual coverage.

2 Students using this book will gain the knowledge and skills to help them apply current standards, and critically appraise the underlying concepts and fi nancial Reporting Accounting and Reporting offers: Academic rigour combined with an engaging and accessible style Coverage of International Financial Reporting Standards Illustrations taken from real published accounts An excellent range of review questions Extensive references A section on the analysis of accounts Chapters covering such issues as corporate governance, ethics and sustainability: environmental and social reportingNew for this edition.

3 Fully updated to May 2010 Updated coverage of International Financial Reporting Standards More examples of extracts from real fi nancial reports New, additional questions and exercises in selected chaptersFinancial Accounting and Reporting comes with MyAccountingLab, a state of the art online learning resource that gives students access to: A personalised study plan that highlights where you excel and where you need to improve so you can study more effi cientlyPractice problems with hundreds of different variables which allow you to practise over and over again with no repetition Visit to utilise these online resources.

4 For more information on how to register see inside the book. is the most up to date text on the market. Now fully updated in its fourteenth edition, it includes extensive coverage of International Accounting Standards (IAS) and International Financial This market-leading text offers students a clear, well-structured and comprehensive treatment of the subject. Supported by illustrations and exercises, the book provides a strong balance of theoretical and conceptual coverage. Students using this book will gain the knowledge and skills to help them apply current standards, , a state of the art online A personalised study plan that highlights where you excel and where you need to improve so Practice problems with hundreds of different variables which allow you to practise over and Barry Elliott is a training consultant.

5 He has extensive teaching experience at undergraduate, postgraduate and professional levels in China, Hong Kong, New Zealand and Singapore. He has wide experience as an external examiner both in higher education and at all levels of professional Elliott is a Director with Deloitte. Prior to this he has lectured at university on undergraduate degree programmes and as an assistant professor on MBA and Executive programmes at the London Business revisions to:Published fi nancial statements Regulatory and conceptual frameworksAnalysis of accounts Corporate governance Ethical behaviour and the implication for accountantsFINANCIAL Accounting AND REPORTINGE lliottElliottFourteenthEditionFINANCIAL Accounting ElliottElliottACCESSCODE INSIDE unlock valuableonline 118/8/10 11:29.

6 35 Financial Accounting and Reporting We work with leading authors to develop thestrongest educational materials in business and financebringing cutting-edge thinking and best learningpractice to a global a range of well-known imprints, includingFinancial Times Prentice Hall we craft high quality print and electronic publications which helpreaders to understand and apply their content, whether studying or at find out more about the complete range of ourpublishing, please visit us on the World Wide Web Financial Accounting and ReportingFOURTEENTH EDITIONB arry Elliott and Jamie Elliott Pearson Education LimitedEdinburgh GateHarlowEssex CM20 2 JEEnglandand Associated Companies throughout the worldVisit us on the World Wide Web published 1993 Second edition 1996 Third edition 1999 Fourth edition 2000 Fifth edition 2001 Sixth edition 2002 Seventh edition 2003 Eighth edition 2004 Ninth edition 2005 Tenth edition 2006 Eleventh edition 2007 Twelfth edition 2008 Thirteenth edition 2009 Fourteenth

7 Edition 2011 Prentice Hall International UK Limited 1993, 1999 Pearson Education Limited 2000, 2011 The rights of Barry Elliott and Jamie Elliott to be identified as authors of thiswork have been asserted by them in accordance with the Copyright, Designsand Patents Act rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic,mechanical, photocopying, recording or otherwise, without either the priorwritten permission of the publisher or a licence permitting restricted copyingin the United Kingdom issued by the Copyright Licensing Agency Ltd, SaffronHouse, 6 10 Kirby Street, London EC1N trademarks used herein are the property of their respective owners.

8 Theuse of any trademark in this text does not vest in the author or publisher anytrademark ownership rights in such trademarks, nor does the use of suchtrademarks imply any affiliation with or endorsement of this book by Education is not responsible for the content of third party internet : 978-0-273-74444-3 British Library Cataloguing-in-Publication DataA catalogue record for this book is available from the British LibraryLibrary of Congress Cataloging-in-Publication DataA catalog record for this book is available from the Library of Congress1098765432114 13 12 11 10 Typeset in 10/12 Ehrhardt MT by 35 Printed by Ashford Colour Press Ltd.

9 , Gosport Preface and acknowledgementsxxGuided tour of MyAccountingLabxxvPart 1 INCOME AND ASSET VALUE MEASUREMENT SYSTEMS11 Accounting and Reporting on a cash flow basis32 Accounting and Reporting on an accrual Accounting basis223 Income and asset value measurement: an economist s approach404 Accounting for price-level changes59 Part 2 REGULATORY FRAMEWORK AN ATTEMPT TO ACHIEVEUNIFORMITY995 Financial Reporting evolution of global standards1016 Concepts evolution of a global conceptual framework1297 Ethical behaviour and implications for accountants1568 Preparation of statements of comprehensive income and Financial position1869 Annual Report.

10 Additional Financial statements223 Part 3 STATEMENT OF Financial POSITION EQUITY, LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE25510 Share capital, distributable profits and reduction of capital25711 Off balance sheet finance28312 Financial instruments31213 Employee benefits34314 Taxation in company accounts37515 Property, plant and equipment (PPE)40416 Leasing44117 R&D; goodwill; intangible assets and brands46118 Inventories49719 Construction contracts523 Brief contents Part 4 CONSOLIDATED ACCOUNTS54720 Accounting for groups at the date of acquisition54921 Preparation of consolidated statements of Financial position after the date of acquisition56822 Preparation of consolidated statements of comprehensive income.