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Applying International Financial Reporting Standards 3E 3rd Revised edition [Pehme köide]

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  • Formaat: Paperback / softback, 1224 pages, kõrgus x laius x paksus: 255x216x37 mm, kaal: 2 g
  • Ilmumisaeg: 27-Nov-2012
  • Kirjastus: John Wiley & Sons Australia Ltd
  • ISBN-10: 0730302121
  • ISBN-13: 9780730302124
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Applying International Financial Reporting Standards 3E 3rd Revised editionSuurem pilt
  • Formaat: Paperback / softback, 1224 pages, kõrgus x laius x paksus: 255x216x37 mm, kaal: 2 g
  • Ilmumisaeg: 27-Nov-2012
  • Kirjastus: John Wiley & Sons Australia Ltd
  • ISBN-10: 0730302121
  • ISBN-13: 9780730302124
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9780730302124.html
Applying International Financial Reporting Standards, 3rd edition, has been thoroughly updated to reflect the varied and numerous developments in International Financial Reporting Standards (IFRSs). The expert knowledge and authoritative explanations of the author team have resulted in the book being extensively referenced by both the accounting profession and academics in countries that have either adopted, or intend to adopt, international accounting standards.

The continuing focus of the second edition of this book is on interpreting, analysing and illustrating the financial reporting requirements under IFRSs. Each chapter contains numerous illustrative examples that present and explain concepts to ensure that users gain a deep understanding of the reporting requirements and meet the knowledge expectations of the accounting profession.

The coverage of accounting standards has been expanded in the second edition with the inclusion of new chapters on IFRS 6 Exploration for and Evaluation of Mineral Resources, IAS 18 Revenue, IAS 19 Employee Benefits and IAS 41 Agriculture. This book has been written for intermediate and advanced financial accounting courses, at both undergraduate and postgraduate levels.

Preface xi
About the authors xiii
Acknowledgements xv
Part 1 CONCEPTUAL FRAMEWORK
1(20)
1 The IASB and its Conceptual Framework
3(18)
1.1 The International Accounting Standards Board (IASB)
4(2)
1.2 The purpose of a conceptual framework
6(2)
1.3 Qualitative characteristics of useful financial information
8(2)
1.4 Going concern assumption
10(1)
1.5 Definition of elements in financial statements
10(3)
1.6 Recognition of elements of financial statements
13(1)
1.7 Measurement of the elements of financial statements
14(1)
1.8 Concepts of capital
15(6)
Summary
15(1)
Discussion questions
16(1)
Exercises
17(2)
References
19(2)
Part 2 ELEMENTS
21(640)
2 Shareholders' equity: share capital and reserves
23(44)
2.1 Equity
24(1)
2.2 Types of companies
25(4)
2.3 Key features of the corporate structure
29(1)
2.4 Different forms of share capital
30(1)
2.5 Contributed equity: issue of share capital
31(5)
2.6 Contributed equity: subsequent movements in share capital
36(7)
2.7 Share capital: subsequent decreases in share capital
43(1)
2.8 Reserves
44(4)
2.9 Disclosure
48(19)
Summary
53(1)
Discussion questions
53(1)
Exercises
54(11)
References
65(2)
3 Fair value measurement
67(32)
3.1 The need for a standard on fair value measurement
68(1)
3.2 The definition of fair value
69(4)
3.3 Application to non-financial assets
73(8)
3.4 Application to liabilities
81(4)
3.5 Application to measurement of equity instruments
85(1)
3.6 Issues relating to measurement of fair value of financial instruments
85(1)
3.7 Disclosure
86(5)
3.8 Some questions about fair value measurement
91(8)
Summary
94(1)
Discussion questions
94(1)
Exercises
95(3)
References
98(1)
4 Revenue
99(40)
4.1 Introduction to IAS 18
100(1)
4.2 The definition of income
100(1)
4.3 The distinction between income and revenue
100(2)
4.4 The scope of IAS 18
102(1)
4.5 Measurement at fair value
103(2)
4.6 The recognition criteria
105(7)
4.7 Interest, royalties and dividends
112(1)
4.8 Practical examples of applying IAS 18
112(5)
4.9 Revenue recognition issues in various industries in practice
117(15)
4.10 Interaction between IAS 18 and other standards and interpretations
132(1)
4.11 Disclosure requirements of IAS 18
133(1)
4.12 Expected future developments
133(6)
Summary
134(1)
Discussion questions
134(1)
Exercises
135(3)
References
138(1)
5 Provisions, contingent liabilities and contingent assets
139(30)
5.1 Introduction to IAS 37
140(1)
5.2 Scope
140(1)
5.3 Definition of a provision
141(1)
5.4 Distinguishing provisions from other liabilities
141(1)
5.5 Definition of a contingent liability
142(1)
5.6 Distinguishing a contingent liability from a provision
142(1)
5.7 The recognition criteria for provisions
142(2)
5.8 Measurement of provisions
144(5)
5.9 Application of the definitions, recognition and measurement rules
149(9)
5.10 Contingent assets
158(1)
5.11 Disclosure
158(3)
5.12 Comparison between IFRS 3 and IAS 37 in respect of contingent liabilities
161(1)
5.13 Expected future developments
162(7)
Summary
163(1)
Discussion questions
163(1)
Exercises
163(5)
References
168(1)
6 Income taxes
169(46)
6.1 The nature of income tax
170(1)
6.2 Differences between accounting profit and taxable profit
170(3)
6.3 Accounting for income taxes
173(1)
6.4 Calculation of current tax
174(4)
6.5 Recognition of current tax
178(1)
6.6 Payment of tax
178(1)
6.7 Tax losses
179(2)
6.8 Calculation of deferred tax
181(7)
6.9 Recognition of deferred tax liabilities and deferred tax assets
188(4)
6.10 Change of tax rates
192(1)
6.11 Other issues
192(2)
6.12 Presentation in the financial statements
194(1)
6.13 Disclosures
194(21)
Summary
199(1)
Discussion questions
200(1)
Exercises
200(13)
References
213(2)
7 Financial instruments
215(48)
7.1 Introduction to IAS 32, IFRS 7, IAS 39 and IFRS 9
216(2)
7.2 What is a financial instrument?
218(1)
7.3 Financial assets and financial liabilities
219(1)
7.4 Demystifying derivatives
220(1)
7.5 Distinguishing financial liabilities from equity instruments
221(5)
7.6 Compound financial instruments
226(2)
7.7 Interest, dividends, gains and losses
228(1)
7.8 Offsetting a financial asset and a financial liability
228(1)
7.9 Disclosures
229(4)
7.10 The scope of IAS 39 Financial Instruments: Recognition and Measurement
233(2)
7.11 Derivatives and embedded derivatives
235(2)
7.12 The four categories of financial instruments
237(1)
7.13 The recognition criteria
238(1)
7.14 Measurement
238(9)
7.15 Hedge accounting
247(7)
7.16 IFRS 9 - overview
254(2)
7.17 Expected future developments
256(7)
Summary
257(1)
Discussion questions
257(1)
Exercises
258(4)
References
262(1)
8 Share-based payment
263(24)
8.1 Application and scope
265(1)
8.2 Cash-settled and equity-settled share-based payment transactions
265(1)
8.3 Recognition
266(1)
8.4 Equity-settled share-based payment transactions
266(3)
8.5 Vesting
269(3)
8.6 Treatment of a reload feature
272(2)
8.7 Modifications to terms and conditions on which equity instruments were granted
274(2)
8.8 Cash-settled share-based payment transactions
276(4)
8.9 Disclosure
280(7)
Summary
282(1)
Discussion questions
283(1)
Exercises
283(3)
References
286(1)
9 Inventories
287(32)
9.1 The nature of inventories
288(1)
9.2 Measurement of inventory upon initial recognition
289(1)
9.3 Determination of cost
289(4)
9.4 Accounting for inventory
293(3)
9.5 End-of-period accounting
296(4)
9.6 Assigning costs to inventory on sale
300(4)
9.7 Net realisable value
304(2)
9.8 Recognition as an expense
306(1)
9.9 Disclosure
306(13)
Summary
307(1)
Discussion questions
307(1)
Exercises
307(11)
References
318(1)
10 Employee benefits
319(36)
10.1 Introduction to accounting for employee benefits
320(1)
10.2 Scope and purpose of IAS 19
320(1)
10.3 Defining employee benefits
320(1)
10.4 Short-term employee benefits
320(8)
10.5 Post-employment benefits
328(1)
10.6 Accounting for defined contribution post-employment plans
329(1)
10.7 Accounting for defined benefit post-employment plans
330(9)
10.8 Other long-term employee benefits
339(4)
10.9 Termination benefits
343(12)
Summary
344(1)
Discussion questions
345(1)
Exercises
345(8)
References
353(2)
11 Property, plant and equipment
355(56)
11.1 The nature of property, plant and equipment
356(1)
11.2 Initial recognition of property, plant and equipment
357(2)
11.3 Initial measurement of property, plant and equipment
359(5)
11.4 Measurement subsequent to initial recognition
364(1)
11.5 The cost model
364(7)
11.6 The revaluation model
371(12)
11.7 Choosing between the cost model and the revaluation model
383(2)
11.8 Derecognition
385(1)
11.9 Disclosure
386(25)
Summary
388(8)
Discussion questions
396(1)
Exercises
397(13)
References
410(1)
12 Leases
411(50)
12.1 What is a lease?
412(1)
12.2 Classification of leases
413(1)
12.3 Classification guidance
414(5)
12.4 Substance over form: incentives to misclassify leases
419(3)
12.5 Accounting for finance leases by lessees
422(6)
12.6 Accounting for finance leases by lessors
428(5)
12.7 Accounting for finance leases by manufacturer or dealer lessors
433(1)
12.8 Accounting for operating leases
434(5)
12.9 Accounting for sale and leaseback transactions
439(3)
12.10 Proposals to change the leasing standard
442(19)
Summary
444(7)
Discussion questions
451(1)
Exercises
452(8)
References
460(1)
13 Intangible assets
461(42)
13.1 The nature of intangible assets
464(9)
13.2 Recognition and initial measurement
473(8)
13.3 Measurement subsequent to initial recognition
481(3)
13.4 Retirements and disposals
484(1)
13.5 Disclosure
484(3)
13.6 Proposals for changes in accounting for intangible assets
487(2)
13.7 Innovative measures of intangibles
489(14)
Summary
491(2)
Discussion questions
493(1)
Exercises
493(7)
References
500(3)
14 Business combinations
503(62)
14.1 The nature of a business combination
504(2)
14.2 Accounting for a business combination - basic principles
506(3)
14.3 Accounting in the records of the acquirer
509(1)
14.4 Recognition and measurement of assets acquired and liabilities assumed
509(6)
14.5 Goodwill and gain on bargain purchase
515(12)
14.6 Shares acquired in the acquiree
527(2)
14.7 Accounting in the records of the acquiree
529(3)
14.8 Subsequent adjustments to the initial accounting for a business combination
532(3)
14.9 Disclosure - business combinations
535(30)
Summary
542(7)
Discussion questions
549(1)
Exercises
549(14)
References
563(2)
15 Impairment of assets
565(48)
15.1 Introduction to IAS 36
566(1)
15.2 When to undertake an impairment test
567(1)
15.3 Impairment test for an individual asset
568(8)
15.4 Cash-generating units - excluding goodwill
576(6)
15.5 Cash-generating units and goodwill
582(6)
15.6 Reversal of an impairment loss
588(3)
15.7 Disclosure
591(22)
Summary
595(5)
Discussion questions
600(1)
Exercises
600(11)
References
611(2)
16 Accounting for mineral resources
613(20)
16.1 Introduction to IFRS 6 Exploration for and Evaluation of Mineral Resources
614(1)
16.2 Scope of IFRS 6
614(1)
16.3 Recognition of E&E assets
615(4)
16.4 Measurement of E&E assets
619(2)
16.5 Impairment
621(2)
16.6 Presentation and disclosure
623(4)
16.7 Future developments
627(6)
Summary
629(1)
Discussion questions
629(1)
Exercises
630(2)
References
632(1)
17 Agriculture
633(28)
17.1 Introduction to IAS 41
634(1)
17.2 Scope and key definitions
634(1)
17.3 The harvest distinction
635(1)
17.4 The recognition criteria for biological assets and agricultural produce
636(2)
17.5 Measurement at fair value
638(7)
17.6 Practical implementation issues with the use of fair value
645(6)
17.7 Government grants
651(1)
17.8 The interaction between IAS 41 and IAS 16, IAS 40 and IAS 17
652(1)
17.9 Disclosure requirements
653(1)
17.10 Preparing financial statements when applying IAS 41
654(3)
17.11 The interaction between IFRS 13 and IAS 41
657(4)
Summary
657(1)
Discussion questions
657(1)
Exercises
658(2)
References
660(1)
Part 3 DISCLOSURE
661(150)
18 Financial statement presentation
663(44)
18.1 Components of financial statements
664(1)
18.2 General features of financial statements
664(3)
18.3 Statement of financial position
667(6)
18.4 Statement of profit or loss and other comprehensive income
673(7)
18.5 Statement of changes in equity
680(2)
18.6 Notes
682(3)
18.7 Accounting policies, changes in accounting estimates and errors
685(6)
18.8 Events after the reporting period
691(16)
Summary
692(1)
Discussion questions
693(1)
Exercises
693(13)
References
706(1)
19 Statement of cash flows
707(44)
19.1 Purpose of a statement of cash flows
708(1)
19.2 Defining cash and cash equivalents
708(1)
19.3 Classifying cash flow activities
709(2)
19.4 Format of the statement of cash flows
711(2)
19.5 Preparing a statement of cash flows
713(9)
19.6 Other disclosures
722(3)
19.7 Comprehensive example
725(8)
19.8 Extracts from financial statements
733(18)
Summary
735(1)
Discussion questions
735(1)
Exercises
735(14)
References
749(2)
20 Earnings per share
751(16)
20.1 Introduction
752(1)
20.2 Application and scope
753(1)
20.3 Basic earnings per share
753(4)
20.4 Diluted earnings per share
757(4)
20.5 Retrospective adjustments
761(1)
20.6 Disclosure
762(5)
Summary
763(1)
Discussion questions
764(1)
Exercises
764(2)
References
766(1)
21 Operating segments
767(32)
21.1 Objectives of financial reporting by segments
768(1)
21.2 Scope
768(1)
21.3 A controversial standard
769(1)
21.4 Main differences between IAS 14 and IFRS 8
770(1)
21.5 Identifying operating segments
771(3)
21.6 Identifying reportable segments
774(3)
21.7 Applying the definition of reportable segments
777(1)
21.8 Disclosure
778(4)
21.9 Applying the disclosures in practice
782(17)
Summary
793(1)
Discussion questions
793(1)
Exercises
794(3)
References
797(2)
22 Related party disclosures
799(12)
22.1 Application
800(1)
22.2 Objective and scope
800(1)
22.3 Identifying related parties
801(3)
22.4 Relationships that are not related parties
804(1)
22.5 Disclosure
804(2)
22.6 Government-related entities
806(5)
Summary
807(1)
Discussion questions
807(1)
Exercises
807(3)
References
810(1)
Part 4 ECONOMIC ENTITIES
811(370)
23 Consolidation: controlled entities
813(20)
23.1 Consolidated financial statements
814(2)
23.2 Control as the criterion for consolidation
816(6)
23.3 Preparation of consolidated financial statements
822(1)
23.4 Business combinations and consolidation
823(1)
23.5 Disclosure
824(9)
Summary
827(1)
Discussion questions
827(1)
Exercises
828(5)
24 Consolidation: wholly owned subsidiaries
833(56)
24.1 The consolidation process
834(1)
24.2 Consolidation worksheets
835(1)
24.3 The acquisition analysis
836(3)
24.4 Worksheet entries at the acquisition date
839(7)
24.5 Worksheet entries subsequent to the acquisition date
846(12)
24.6 Revaluations in the records of the subsidiary at acquisition date
858(1)
24.7 Disclosure
858(3)
24.8 Reverse acquisitions
861(28)
Summary
863(12)
Discussion questions
875(1)
Exercises
875(14)
25 Consolidation: intragroup transactions
889(52)
25.1 Rationale for adjusting for intragroup transactions
890(2)
25.2 Transfers of inventory
892(6)
25.3 Transfers of property, plant and equipment
898(4)
25.4 Transfers between inventory and non-current assets
902(3)
25.5 Intragroup services
905(1)
25.6 Intragroup dividends
906(3)
25.7 Intragroup borrowings
909(32)
Summary
912(14)
Discussion questions
926(1)
Exercises
926(15)
26 Consolidation: non-controlling interest
941(62)
26.1 Non-controlling interest explained
942(2)
26.2 Effects of an NCI on the consolidation process
944(6)
26.3 Calculating the NCI share of equity
950(14)
26.4 Adjusting for the effects of intragroup transactions
964(2)
26.5 Gain on bargain purchase
966(37)
Summary
969(14)
Discussion questions
983(1)
Exercises
983(20)
27 Consolidation: other issues
1003(66)
27.1 Direct and indirect non-controlling interest
1004(1)
27.2 Sequential acquisitions
1005(8)
27.3 Non-sequential acquisitions
1013(4)
27.4 Reciprocal ownership
1017(5)
27.5 Changes in ownership interests
1022(47)
Summary
1029(24)
Discussion questions
1053(1)
Exercises
1053(16)
28 Translation of the financial statements of foreign entities
1069(42)
28.1 Translation of a foreign subsidiary's statements
1070(1)
28.2 Functional and presentation currencies
1070(1)
28.3 The rationale underlying the functional currency choice
1070(3)
28.4 Identifying the functional currency
1073(2)
28.5 Translation into the functional currency
1075(5)
28.6 Changing the functional currency
1080(1)
28.7 Translation into the presentation currency
1081(4)
28.8 Consolidating foreign subsidiaries - where local currency is the functional currency
1085(8)
28.9 Consolidating foreign subsidiaries - where functional currency is that of the parent entity
1093(1)
28.10 Net investment in a foreign operation
1094(1)
28.11 Disclosure
1094(17)
Summary
1096(1)
Discussion questions
1097(2)
Exercises
1099(11)
References
1110(1)
29 Associates and joint ventures
1111(42)
29.1 Introduction and scope
1112(1)
29.2 Identifying associates and joint ventures
1113(2)
29.3 The equity method of accounting: rationale and application
1115(1)
29.4 Applying the equity method: basic principles
1116(3)
29.5 Applying the equity method: goodwill and fair value adjustments
1119(6)
29.6 Applying the equity method - inter-entity transactions
1125(12)
29.7 Share of losses of an associate or joint venture
1137(1)
29.8 Disclosure
1138(15)
Summary
1142(1)
Discussion questions
1142(1)
Exercises
1143(9)
References
1152(1)
30 Joint arrangements
1153(28)
30.1 Introduction and scope
1154(1)
30.2 Joint arrangements: characteristics and classification
1154(5)
30.3 Accounting for joint arrangements
1159(4)
30.4 Accounting by a joint operator
1163(8)
30.5 Disclosure
1171(10)
Summary
1171(1)
Discussion questions
1171(1)
Exercises
1172(8)
References
1180(1)
Glossary 1181(10)
Index 1191