A nontechnical guide to international accounting / Roger Hussey, Audra Ong.

Format:

Book

Author/Creator:

Hussey, Roger, author.

Ong, Audra, author.

Language:

English

Subjects (All):

Accounting.

International business enterprises--Accounting.

International business enterprises.

Accounting equation.

Physical Description:

1 online resource (197 pages)

Edition:

1st ed.

Place of Publication:

New York, New York : Business Expert Press, 2020.

Summary:

Business has become more international and more complex. Whether you are a manager, a student, or someone generally interested in corporate financial information, you want information and you want to understand that information. Companies in all countries are required to generate financial information, if for no other reason than to settle their tax obligations. If you are interested in the larger companies, such as those listed on a stock exchange, they must make financial information public, and the nature and type of that information is strictly regulated. Companies must comply with accounting standards. Many countries use the International Accounting Standards issued by the IFRS Foundation. This is a not-for-profit international organization that has developed a single set of high-quality global accounting standards. These standards can be complex, but this book explains clearly the main requirements.

Contents:

Cover

A Nontechnical Guide to International Accounting

Contents

Preface

Acknowledgments

Chapter 1: The Growth of International Accounting

About This Chapter

Problems with National Accounting

The Start of International Accounting

The Spread of Internationalization

The U.S. and International Accounting

The End of Convergence

Conclusion

Chapter 2: Setting International Standards

The Language of International Accounting

The International Accounting Standards Board

Structure of a Standard

The Conceptual Framework

The Main Financial Statements

The Financial Reporting Council

Conclusions

Chapter 3: Measuring Profit and Income

The Calculation of Profit

IAS 1 Profit and Other Comprehensive Income

IFRS 15 Revenue from Contracts with Customers

IAS 2 Inventories

IAS 16 Property, Plant, and Equipment (Depreciation)

IAS 11 Construction Contracts (Summary)

IAS 18 Revenue (Summary)

Chapter 4: The Statements of Financial Position (Balance Sheet) and Changes in Equity

The Accounting Equation

IAS 16 Property, Plant, and Equipment

IAS 23 Borrowing Costs

IAS 38 Intangible Assets

IAS 36 Impairment of Assets

The Statement of Changes in Equity

Chapter 5: The Timing of Events

IAS 7 Statements of Cash Flows

IAS 34 Interim Financial Reporting

Main Requirements

IAS 10 Events after the Reporting Period

Chapter 6: Intercompany Relations

IAS 24 Related Party Disclosures

IAS 27 Separate Financial Statements

IAS 28 Investments in Associates and Joint Ventures

IFRS 3 Business Combinations

IFRS 10 Consolidated and Separate Financial Statements

IFRS 11 Joint Arrangements.

IFRS 12 Disclosure of Interest in Other Entities

Chapter 7: Specific Situations

IAS 8 Accounting Policies, Changes in Accounting Estimates, and Errors

IAS 19 Employee Benefits

IAS 29 Financial Reporting in Hyperinflationary Economies

IAS 37 Provisions and Contingent Liabilities and Contingent Assets

IFRS 5 Noncurrent Assets Held for Sale and Discontinued Operations

IFRS 16 Leases

Chapter 8: Different Business Activities

IAS 40 Investment Property

Recognition

Measurement Models

IAS 41 Agriculture

Recognition and Measurement

IFRS 6 Exploration for and Evaluation of Mineral Assets

Requirements

Impaired Assets

IFRS 8 Operating Segments

Identifying Segments

Disclosures

Chapter 9: Changing Values

IAS 12 Income Taxes

IAS 21 Foreign Exchange Rates

IFRS 2 Share-Based Payments

IFRS 13 Fair Value Measurement

IAS 33 Earnings per Share

Chapter 10: Financial Instruments

IAS 32 Financial Instruments: Presentation

Offsetting

IAS 39 Financial Instruments: Recognition and Measurement

Hedging Instrument

Derivatives as Hedging Instruments

IFRS 7 Financial Instruments: Disclosures

IFRS 9 Financial Instruments

Financial Assets

Financial Liabilities and Equity

Hedge Accounting

References

About the Authors

Index

Ad Page

Back Cover.

Notes:

Description based on print version record.

ISBN:

9781946646873

1946646873

OCLC:

1128416058