Advanced Accounting

ISBN-10: 0470506989
ISBN-13: 9780470506981
Edition: 4th 2010
List price: $75.50
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Description: Accountants looking for a balanced approach to the conceptual and technical aspects of advanced accounting will turn to the fourth edition. It provides a comprehensive treatment of selected topics in a clear and understandable manner. The latest  More...

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Book details

List price: $75.50
Edition: 4th
Copyright year: 2010
Publisher: John Wiley & Sons, Limited
Publication date: 12/7/2009
Binding: Hardcover
Pages: 1032
Size: 8.25" wide x 10.25" long x 1.50" tall
Weight: 3.938
Language: English

Accountants looking for a balanced approach to the conceptual and technical aspects of advanced accounting will turn to the fourth edition. It provides a comprehensive treatment of selected topics in a clear and understandable manner. The latest information in the field is presented on IFRS and fair value standards. Comprehensive coverage is included on all three methods of consolidated financial reporting. Related Concepts margin notes and conceptual questions at the end of the chapters also help accountants link the topics to the conceptual framework.

Paul Chaney is senior lecturer in public policy at Cardiff University. He has published widely on territorial politics, social policy, and equality and human rights.

Introduction To Business Combinations And The Conceptual Framework
Learning Objectives
Nature of the Combination
Business Combinations: Why? Why not?
Business Combinations: Historical Perspective
Terminology and Types of Combinations
Takeover Premiums
Avoiding the Pitfalls before the Deal
Determining Price and Method of Payment in Business Combinations
Alternative Concepts of Consolidated Financial Statements
Authors' View
FASB's Conceptual Framework
Summary
Questions
Exercises
Accounting For Business Combinations
Learning Objectives
Historical Perspective on Business Combinations
Pro Forma Statements and Disclosure Requirement
Explanation and Illustration of Acquisition Accounting
Contingent Consideration in an Acquisition
Leveraged Buyouts
Summary
Deferred Taxes in Business Combinations
Did Firms Prefer Pooling
Questions
Exercises
Problems
1
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Consolidated Financial Statements- Date Of Acquisition
Learning Objectives
Definitions of Subsidiary and Control
Requirements for the Inclusion of Subsidiaries in the Consolidated Financial Statements
Reasons for Subsidiary Companies
Consolidated Financial Statements
Investments at the Date of Acquisition
Consolidated Balance Sheets: The Use of Workpapers
A Comprehensive Illustration-More Than One Subsidiary Company
Limitations of Consolidated Statements
Summary
Deferred Taxes on the Date of Acquisition
Consolidation of Variable Interest Entities
Questions
Exercises
Problems
Consolidated Financial Statements AFTER ACQUISITION
Learning Objectives
Accounting for Investments by the Cost
Complete Equity Methods
Consolidated Statements after Acquisition-Cost Method
Recording Investments in Subsidiaries-Equity Method
(Partial or Complete)
Elimination of Intercompany Revenue and Expense Items
Interim Acquisitions of Subsidiary Stock
Consolidated Statement of Cash Flows
Illustration of Preparation of a Consolidated Statement of Cash Flows:
Year of Acquisition
Summary
Alternative Workpaper Format
Deferred Tax Consequences When Affiliates File Separate
Income Tax Returns-Undistributed Income
Questions
Exercises
Problems
Allocation And Depreciation Of Differences Between Implied And Book Values
Learning Objectives
xii Contents
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4
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Allocation of the Difference between Implied and Book Values
to Assets and Liabilities of Subsidiary: Acquisition Date
Effect of Allocation and Depreciation of Differences between Implied and
Book Values on Consolidated Net Income: Year Subsequent to Acquisition
Consolidated Statements Workpaper-Investment Recorded
Using the Cost Method
Cost Method Analysis of Controlling and Noncontrolling Interests
in Consolidated Net Income and Retained Earnings
Consolidated Statements Workpaper-Investment Recorded
Using Partial Equity Method
Interests in consolidated Net Income and Retained Earnings
Consolidated Statements Workpaper-Investment Recorded
Using Complete Equity Method
Complete Equity Method Analysis of Controlling Interest in
Consolidated Net Income and Retained Earnings
Additional Considerations Relating to Treatment of
Difference between Implied and Book Values
Push Down Accounting
Summary
Questions
Exercises
Problems
Elimination Of Unrealized Profit On Intercompany Sales Of Inventory
Learning Objectives
Effects of Intercompany Sales of Merchandise on the Determination of Consolidated Balances
Cost Method: Consolidated Statements Workpaper-Upstream Sales
Cost Method-Analysis of Consolidated Net Income and Consolidated Retained Earnings
Consolidated Statements Workpaper-Partial Equity Method
Consolidated Statements Workpaper-Complete Equity Method
Complete Equity Method-Analysis of Consolidated Net Income and Consolidated Retained Earnings
Summary of Workpaper Entries Relating to Intercompany Sales of Inventory
Intercompany Profit Prior to Parent-Subsidiary Affiliation
Summary
Questions
Exercises
Problems
Contents xiii
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Elimination Of Unrealized Gains Or Losses On Intercompany Sales Of Property And Equipment
Learning objectives
Intercompany Sales of Land
Intercompany Sales of Depreciable Property
(Machinery
Consolidated Statements Workpaper-Cost and Partial Equity Methods
Calculation of Consolidated Net Income and Consolidated
Retained Earnings
Consolidated Statements Workpaper-Complete Equity Method
Calculation and Allocation of Consolidated Net Income;
Consolidated Retained Earnings: Complete Equity Method
Summary of Workpaper Entries Relating to Intercompany
Sales of Equipment
Intercompany Interest
Summary
Questions
Exercises
Problems
Changes In Ownership Interest
Learning Objectives
Parent Acquires Subsidiary Stock Through Several
Open-Market Purchases-Cost Method
Parent Sells Subsidiary Stock Investment on the Open Market
Intercompany Bond Holdings And Miscellaneous Topics-Consolidated Financial Statements
Learning Objectives
Intercompany Bond Holdings
Accounting for Bonds-A Review
Constructive Gain or Loss on Intercompany Bond Holdings
Accounting for Intercompany Bonds Illustrated
Book Entry Related to Bond Investment
Interim Purchase of Intercompany Bonds
Notes Receivable Discounted
Stock Dividends issued by a Subsidiary Company
Dividends From Preacquisition Earnings
Subsidiary with Both Preferred and Common Stock Outstanding
Consolidating a Subsidiary with Preferred Stock Outstanding
Summary
xiv Contents
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8
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Questions
Exercises
Problems
Insolvency-Liquidation And Reorganization
Learning Objectives
Contractual Agreements
Bankruptcy
Liquidation (Chapter 7)
Reorganization under the Reform Act (Chapter 11)
Trustee Accounting and Reporting
Realization and Liquidation Account
Summary
Questions
Exercises
Problems
II Accounting In The International Marketplace International Accounting And The Global Economy
Learning Objectives
The Increasing Importance of International Accounting Standards
Harmonization of Worldwide Accounting Standards
Comparative Accounting Models
Classification of International Accounting Models
International Reporting Issues
American Depository Receipts (ADRs): An Overview
Summary
Appendix: Reconciliation to U.S. GAAP-GlaxoSmithKline 2005
Questions
Exercises
Problems
Accounting For Foreign Currency Transactions And Hedging Foreign Exchange Risk
Learning Objectives
Contents xv
10
11
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Exchange Rates-Means of Translation
Measured versus Denominated
Foreign Currency Transactions
Using Forward Contracts as a Hedge
Summary
Questions
Exercises
Problems
Translation Of Financial Statements Of Foreign Affiliates
Learning Objectives
Accounting for Operations in Foreign Countries
Translating Financial Statements of Foreign Affiliates
Objectives of Translation-SFAS No. 52
Translation Methods
Identifying the Functional Currency
Translation of Foreign Currency Financial Statements
Translation of Foreign Financial Statements Illustrated
Financial Statement Disclosure
Historical Developments of Accounting Standards
Summary
Appendix: Accounting for a Foreign Affiliate and
Preparation of Consolidated Statements Workpaper Illustrated
Questions
Exercises
Problems
Reporting For Segments And For Interim Financial Periods
Learning Objectives
Need for Disaggregated Financial Data
Standards of Financial Accounting and Reporting
International Accounting Standards Board (IASB) Position on Segment
Reporting
Interim Financial Reporting
Summary
Questions
Exercises
Problems
xvi Contents
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III Partnership Accounting Partnerships: Formation, Operation, And Ownership Changes
Learning Objectives
Reasons for Forming a Partnership
Characteristics of a Partnership
Accounting for a Partnership
Special Problems in Allocation of Income and Loss
Financial Statement Presentation
Changes in the Ownership of the Partnership
Section A: Admission of a New Partner
Section B: Withdrawal of a Partner
Summary
Questions
Exercises
Problems
IV Fund And Nonprofit Accounting Partnership Liquidation
Learning Objectives
Steps in the Liquidation Process
Priorities of Partnership and Personal Creditors
Simple Liquidation Illustrated
Installment Liquidation
Incorporation of a Partnership
Summary
Questions
Exercises
Problems
Introduction To Fund Accounting
Learning objectives
Classifications of Nonbusiness Organizations
Distinctions between Nonbusiness Organizations and
Profit-Oriented Enterprises
Contents xvii
15
16
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Financial Accounting and Reporting Standards for
Nonbusiness Organizations
Fund Accounting
Reporting Inventory and Prepayments
in the Financial Statements
Summary
Appendix: City of Atlanta Partial Financial Statements
Questions
Exercises
Problems
Introduction To Accounting For State And Local Governmental Units
Learning Objectives
The History of Generally Accepted Governmental
Accounting Standards
The Structure of Governmental Accounting
Governmental Fund Entities
Proprietary Funds
Fiduciary Funds
Capital Assets and Long-Term Debt
External Reporting Requirements (GASB STATEMENT No. 34)
Government Fund-Based Reporting
Government-Wide Reporting
Management's Discussion and Analysis (MD&A)
Special Assessments
Interfund Activity
Summary
Government-Wide Financial Statements City of Atlanta
Questions
Analyzing Financial Statements (AFS)
Exercises
Problems
Accounting For Nongovernment Nonbusiness Organizations: Colleges And Universities, Hospitals And Other Health Care Organizations
Learning Objectives
Sources of Generally Accepted Accounting Standards for Nongovernment
Nonbusiness Organizations
Fund Accounting
Accrual Basis of Accounting
xviii Contents
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Classification of Revenue and Expense
Accounting for Current Funds
Contributions
Accounting for Plant Funds
Accounting for Endowment Funds
Accounting for Investments
Accounting for Loan Funds
Accounting for Agency (Custodial) Funds
Accounting for Annuity and Life Income Funds
Issues Relating to Colleges and Universities
Issues Relating to Hospitals
Summary
Appendix: Sample Financial Statements for Private Educational Institutions
Questions
Exercises
Problems
Glossary
Appendix
Index

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