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Intermediate Accounting 3rd Edition, IFRS Edition [Minkštas viršelis]

(University of Wisconsin, Madison), (University of Wisconsin, Madison), (Northern Illinois University)
  • Formatas: Paperback / softback, 1384 pages, aukštis x plotis x storis: 277x84x51 mm, weight: 2676 g
  • Išleidimo metai: 12-Sep-2017
  • Leidėjas: John Wiley & Sons Inc
  • ISBN-10: 1119372933
  • ISBN-13: 9781119372936
Kitos knygos pagal šią temą:
  • Formatas: Paperback / softback, 1384 pages, aukštis x plotis x storis: 277x84x51 mm, weight: 2676 g
  • Išleidimo metai: 12-Sep-2017
  • Leidėjas: John Wiley & Sons Inc
  • ISBN-10: 1119372933
  • ISBN-13: 9781119372936
Kitos knygos pagal šią temą:

Intermediate Accounting: IFRS Edition provides the tools global accounting students need to understand IFRS and how it is applied in practice. The emphasis on fair value, the proper accounting for financial instruments, and the new developments related to leasing, revenue recognition, and financial statement presentation are examined in light of current practice. Global Accounting Insights highlight the important differences that remain between IFRS and U.S. GAAP, and discuss the ongoing joint convergence efforts to resolve them. Comprehensive, up-to-date, and accurate, Intermediate Accounting: IFRS Edition includes proven pedagogical tools, designed to help students learn more effectively and to answer the changing needs of this course.

1 Financial Reporting and Accounting Standards 1-1(1)
Revolution In International Financial Reporting
1-2(1)
Global Markets
1-3(1)
Financial Statements and Financial Reporting
1-4(1)
Accounting and Capital Allocation
1-4(1)
High-Quality Standards
1-5(1)
Objective of Financial Reporting
1-6(1)
General-Purpose Financial Statements
1-6(1)
Equity Investors and Creditors
1-6(1)
What Do The Numbers Mean? Don't Forget Stewardship
1-6(1)
Entity Perspective
1-6(1)
Decision-Usefulness
1-7(1)
Standard-Setting Organizations
1-7(1)
International Organization of Securities Commissions (10SCO)
1-8(1)
What Do The Numbers Mean? How Is It Going?
1-8(1)
International Accounting Standards Board (IASB)
1-9(1)
Hierarchy of IFRS
1-11(1)
Financial Reporting Challenges
1-12(1)
IFRS in a Political Environment
1-12(1)
What Do The Numbers Mean? Fair Consequences?
1-13(1)
The Expectations Gap
1-13(1)
Significant Financial Reporting Issues
1-14(1)
Ethics in the Environment of Financial Accounting
1-14(1)
International Convergence
1-15(1)
What Do The Numbers Mean? Can You Do That?
1-15(1)
Conclusion
1-16(1)
Global Accounting Insights
1-24(1)
2 Conceptual Framework for Financial Reporting 2-1(1)
What Is It?
2-2(1)
Conceptual Framework
2-3(1)
Need for a Conceptual Framework
2-3(1)
What Do The Numbers Mean? What's Your Principle?
2-4(1)
Development of a Conceptual Framework
2-4(1)
Overview of the Conceptual Framework
2-5(1)
Basic Objective
2-6(1)
Fundamental Concepts
2-6(1)
Qualitative Characteristics of Accounting Information
2-6(1)
What Do The Numbers Mean? Unfaithful-For 20 Years
2-10(1)
What Do The Numbers Mean? Show Me the Earnings!
2-12(1)
Basic Elements
2-12(1)
Assumptions
2-13(1)
Economic Entity Assumption
2-13(1)
Going Concern Assumption
2-14(1)
Monetary Unit Assumption
2-14(1)
Periodicity Assumption
2-15(1)
Accrual Basis of Accounting
2-15(1)
Measurement, Recognition, and Disclosure Concepts
2-16(1)
Basic Principles of Accounting
2-16(1)
Cost Constraint
2-20(1)
What Do The Numbers Mean? Let's Be Prudent
2-21(1)
Summary of the Structure
2-21(1)
Evolving Issue A Revised Conceptual Framework
2-22(1)
Global Accounting Insights
2-37(1)
3 The Accounting Information System 3-1(1)
Needed: A Reliable Information System
3-2(1)
Accounting Information System
3-3(1)
Basic Terminology
3-4(1)
Debits and Credits
3-4(1)
The Accounting Equation
3-5(1)
Financial Statements and Ownership Structure
3-7(1)
The Accounting Cycle
3-8(1)
Record and Summarize Basic Transactions
3-10(1)
Journalizing
3-10(1)
Posting
3-11(1)
Chart of Accounts
3-12(1)
The Recording Process Illustrated
3-13(1)
Trial Balance
3-18(1)
What Do The Numbers Mean? Change Management
3-19(1)
Identify and Prepare Adjusting Entries
3-19(1)
Types of Adjusting Entries
3-20(1)
Adjusting Entries for Deferrals
3-20(1)
Adjusting Entries for Accruals
3-25(1)
Adjusted Trial Balance
3-29(1)
Preparing Financial Statements
3-30(1)
What Do The Numbers Mean? 24/7 Accounting
3-31(1)
Closing
3-32(1)
Post-Closing Trial Balance
3-33(1)
Reversing Entries-An Optional Step
3-34(1)
What Do The Numbers Mean? Hey, It's Complicated
3-35(1)
The Accounting Cycle Summarized
3-35(1)
Financial Statements for a Merchandising Company
3-36(1)
Income Statement
3-36(1)
Retained Earnings Statement
3-36(1)
Statement of Financial Position
3-37(1)
Closing Entries
3-38(1)
Appendix 3A Cash-Basis Accounting versus Accrual-Basis Accounting
3-38(1)
Conversion from Cash Basis to Accrual Basis
3-40 Service Revenue Computation 3-41(1)
Operating Expense Computation
3-41(1)
Theoretical Weaknesses of the Cash Basis
3-43(1)
Appendix 3B Using Reversing Entries
3-43(1)
Illustration of Reversing Entries-Accruals
3-43(1)
Illustration of Reversing Entries-Deferrals
3-44(1)
Summary of Reversing Entries
3-45(1)
Appendix 3C Using A Worksheet: The Accounting Cycle Revisited
3-46(1)
Worksheet Columns
3-46(1)
Trial Balance Columns
3-46(1)
Adjustments Columns
3-46(1)
Adjustments Entered on the Worksheet
3-46(1)
Adjusted Trial Balance
3-48(1)
Income Statement and Statement of Financial Position Columns
3-48(1)
Preparing Financial Statements from a Worksheet
3-49(1)
Global Accounting Insights
3-72(1)
4 Income Statement and Related Information 4-1(1)
Financial Statements Are Changing
4-2(1)
Income Statement
4-3(1)
Usefulness of the Income Statement
4-3(1)
Limitations of the Income Statement
4-4(1)
Quality of Earnings
4-4(1)
What Do The Numbers Mean? Four: The Loneliest Number
4-5(1)
Content and Format of the Income Statement
4-5(1)
Elements of the Income Statement
4-5(1)
Intermediate Components of the Income Statement
4-6(1)
Condensed Income Statements
4-8(1)
What Do The Numbers Mean? You May Need a Map
4-8(1)
Reporting Various Income Items
4-9(1)
Gross Profit
4-9(1)
Income from Operations
4-9(1)
What Do The Numbers Mean? Are One-Time Charges Bugging You?
4-12(1)
Income Before Income Tax
4-12(1)
Net Income
4-13(1)
Earnings per Share
4-13(1)
Discontinued Operations
4-14(1)
Allocation to Non-Controlling Interest
4-17(1)
Summary
4-17(1)
What Do The Numbers Mean? Different Income Concepts
4-18(1)
Accounting Changes and Errors
4-19(1)
Changes in Accounting Principle
4-19(1)
Changes in Accounting Estimates
4-20(1)
Corrections of Errors
4-20(1)
Summary
4-20(1)
Related Equity Statements
4-21(1)
Retained Earnings Statement
4-21(1)
Comprehensive Income Statement
4-22(1)
Evolving Issue Income Reporting
4-23(1)
Statement of Changes in Equity
4-24(1)
Global Accounting Insights
4-43(1)
5 Statement of Financial Position and Statement of Cash Flows 5-1(1)
Hey, It Doesn't Balance!
5-1(1)
Statement of Financial Position
5-3(1)
Usefulness of the Statement of Financial Position
5-3(1)
Limitations of the Statement of Financial Position
5-4(1)
Classification in the Statement of Financial Position
5-5(1)
What Do The Numbers Mean? What Comes First?
5-6(1)
Preparation of the Statement of Financial Position
5-14(1)
What Do The Numbers Mean? Warning Signals
5-14(1)
Statement of Cash Flows
5-16(1)
Purpose of the Statement of Cash Flows
5-16(1)
Content of the Statement of Cash Flows
5-16(1)
What Do The Numbers Mean? Watch That Cash Flow
5-17(1)
Preparation of the Statement of Cash Flows
5-18(1)
Usefulness of the Statement of Cash Flows
5-21(1)
Additional Information
5-24(1)
Notes to the Financial Statements
5-24(1)
Techniques of Disclosure
5-27(1)
Other Guidelines
5-28(1)
Evolving Issue Statement of Financial Position Reporting: Gross or Net?
5-29(1)
Appendix 5A Ratio Analysis-A Reference
5-30(1)
Using Ratios to Analyze Performance
5-30(1)
Global Accounting Insights
5-56(1)
6 Accounting and the Time Value of Money 6-1(1)
How Do I Measure That?
6-2(1)
Basic Time Value Concepts
6-3(1)
Applications of Time Value Concepts
6-3(1)
The Nature of Interest
6-4(1)
Simple Interest
6-5(1)
Compound Interest
6-5(1)
What Do The Numbers Mean? A Pretty Good Start
6-6(1)
Fundamental Variables
6-8(1)
Single-Sum Problems
6-9(1)
Future Value of a Single Sum
6-9(1)
Present Value of a Single Sum
6-11(1)
Solving for Other Unknowns in Single-Sum Problems
6-12(1)
Annuities (Future Value)
6-14(1)
Future Value of an Ordinary Annuity
6-14(1)
Future Value of an Annuity Due
6-16(1)
Examples of Future Value of Annuity Problems
6-18(1)
Annuities (Present Value)
6-19(1)
Present Value of an Ordinary Annuity
6-19(1)
What Do The Numbers Mean? Up in Smoke
6-21(1)
Present Value of an Annuity Due
6-21(1)
Examples of Present Value of Annuity Problems
6-22(1)
Other Time Value of Money Issues
6-24(1)
Deferred Annuities
6-24(1)
Valuation of Long-Term Bonds
6-26(1)
Effective-Interest Method of Amortization of Bond Discount or Premium
6-27(1)
Present Value Measurement
6-28(1)
7 Cash and Receivables 7-1(1)
No-Tell Nortel
7-1(1)
Cash
7-2(1)
Reporting Cash
7-3(1)
Summary of Cash-Related Items
7-4(1)
What Do The Numbers Mean? Deep Pockets
7-5(1)
Receivables
7-6(1)
Recognition of Accounts Receivable
7-6(1)
Measurement of the Transaction Price
7-7(1)
Variable Consideration
7-7(1)
Valuation of Accounts Receivable
7-10(1)
Direct Write-Off Method for Uncollectible Accounts
7-10(1)
Allowance Method for Uncollectible Accounts
7-11(1)
Notes Receivable
7-14(1)
Recognition of Notes Receivable
7-14(1)
Valuation of Notes Receivable
7-18(1)
What Do The Numbers Mean? Economic Consequences and Write-Offs
7-18(1)
Other Issues Related to Receivables
7-19(1)
Derecognition of Receivables
7-19(1)
Presentation and Analysis
7-23(1)
What Do The Numbers Mean? I'm Still Waiting
7-25(1)
Appendix 7A Cash Controls
7-26(1)
Using Bank Accounts
7-26(1)
The Imprest Petty Cash System
7-27(1)
Physical Protection of Cash Balances
7-28(1)
Reconciliation of Bank Balances
7-28(1)
Global Accounting Insights
7-56(1)
8 Valuation of Inventories: A Cost-Basis Approach 8-1(1)
It Should Be Easy, But It Isn't!
8-1(1)
Inventory Issues
8-3(1)
Classification
8-3(1)
Inventory Cost Flow
8-4(1)
Inventory Control
8-6(1)
Determining Cost of Goods Sold
8-7(1)
What Do The Numbers Mean? Staying Lean
8-7(1)
Goods and Costs Included in Inventory
8-7(1)
Goods Included in Inventory
8-7(1)
What Do The Numbers Mean? No Parking!
8-10(1)
Costs Included in Inventory
8-10(1)
Which Cost Flow Assumption to Adopt?
8-12(1)
Specific Identification
8-12(1)
Average-Cost
8-13(1)
First-In, First-Out (FIFO)
8-14(1)
Inventory Valuation Methods-Summary Analysis
8-16(1)
Effect of Inventory Errors
8-17(1)
Ending Inventory Misstated
8-17(1)
Purchases and Inventory Misstated
8-18(1)
Appendix 8A LIFO Cost Flow Assumption
8-19(1)
Last-In, First-Out (LIFO)
8-19(1)
Inventory Valuation Methods-Summary Analysis
8-20(1)
9 Inventories: Additional Valuation Issues 9-1(1)
Not What It Seems To Be
9-2(1)
Lower-of-Cost-or-Net Realizable Value (LCNRV)
9-3(1)
Net Realizable Value
9-3(1)
Illustration of LCNRV
9-3(1)
Methods of Applying LCNRV
9-4(1)
Recording Net Realizable Value Instead of Cost
9-5(1)
Use of an Allowance
9-6(1)
Recovery of Inventory Loss
9-6(1)
Evaluation of the LCNRV Rule
9-7(1)
Valuation Bases
9-7(1)
Net Realizable Value
9-7(1)
Relative Standalone Sales Value
9-10(1)
Purchase Commitments-A Special Problem
9-11(1)
The Gross Profit Method of Estimating Inventory
9-12(1)
Computation of Gross Profit Percentage
9-13(1)
Evaluation of Gross Profit Method
9-15(1)
What Do The Numbers Mean? The Squeeze
9-15(1)
Retail Inventory Method
9-15(1)
Retail-Method Concepts
9-16(1)
Retail Inventory Method with Markups and Markdowns-Conventional Method
9-17(1)
Special Items Relating to Retail Method
9-19(1)
Evaluation of Retail Inventory Method
9-20(1)
Presentation and Analysis
9-20(1)
Presentation of Inventories
9-21(1)
Analysis of Inventories
9-22(1)
Global Accounting Insights
9-42(1)
10 Acquisition and Disposition of Property, Plant, and Equipment 10-1(1)
Watch Your Spending
10-1(1)
Property, Plant, and Equipment
10-3(1)
Acquisition of Property, Plant, and Equipment
10-3(1)
Cost of Land
10-4(1)
Cost of Buildings
10-5(1)
Cost of Equipment
10-5(1)
Self-Constructed Assets
10-5(1)
Interest Costs During Construction
10-6(1)
Qualifying Assets
10-7(1)
Capitalization Period
10-7(1)
Amount to Capitalize
10-7(1)
Comprehensive Example of Interest Capitalization
10-9(1)
Special Issues Related to Interest Capitalization
10-11(1)
Observations
10-11(1)
What Do The Numbers Mean? What's in Your Interest?
10-11(1)
Valuation of Property, Plant, and Equipment
10-12(1)
Cash Discounts
10-12(1)
Deferred-Payment Contracts
10-12(1)
Lump-Sum Purchases
10-13(1)
Issuance of Shares
10-14(1)
Exchanges of Non-Monetary Assets
10-14(1)
Government Grants
10-17(1)
Costs Subsequent to Acquisition
10-21(1)
Additions
10-21(1)
Improvements and Replacements
10-21(1)
Rearrangement and Reorganization
10-22(1)
Repairs
10-22(1)
What Do The Numbers Mean? Disconnected
10-23(1)
Summary of Costs Subsequent to Acquisition
10-23(1)
Disposition of Property, Plant, and Equipment
10-24(1)
Sale of Plant Assets
10-24(1)
Involuntary Conversion
10-24(1)
11 Depreciation, Impairments, and Depletion 11-1(1)
Here Come The Write-Offs
11-2(1)
Depreciation-A Method of Cost Allocation
11-3(1)
Factors Involved in the Depreciation Process
11-4(1)
Methods of Depreciation
11-5(1)
Other Depreciation Issues
11-8(1)
Component Depreciation
11-8(1)
Depreciation and Partial Periods
11-9(1)
Depreciation and Replacement of Property, Plant, and Equipment
11-10(1)
Revision of Depreciation Rates
11-10(1)
What Do The Numbers Mean? Depreciation Choices
11-11(1)
Impairments
11-12(1)
Recognizing Impairments
11-12(1)
Impairment Illustrations
11-13(1)
Reversal of Impairment Loss
11-14(1)
Cash-Generating Units
11-15(1)
Impairment of Assets to Be Disposed Of
11-15(1)
Depletion
11-16(1)
Establishing a Depletion Base
11-17(1)
Write-Off of Resource Cost
11-18(1)
Estimating Recoverable Reserves
11-19(1)
Liquidating Dividends
11-19(1)
Presentation on the Financial Statements
11-20(1)
Revaluations
11-21(1)
Recognizing Revaluations
11-21(1)
Revaluation Issues
11-22(1)
What Do The Numbers Mean? To Revalue or Not
11-23(1)
Presentation and Analysis
11-23(1)
Presentation of Property, Plant, Equipment, and Mineral Resources
11-23(1)
Analysis of Property, Plant, and Equipment
11-25(1)
Appendix 11A Revaluation of Property, Plant, and Equipment
11-26(1)
Revaluation of Land
11-27(1)
Revaluation-2019: Valuation Increase
11-27(1)
Revaluation-2020: Decrease below Historical Cost
11-27(1)
Revaluation-2021: Recovery of Impairment Loss
11-28(1)
Revaluation of Depreciable Assets
11-29(1)
Revaluation-2019: Valuation Increase
11-29(1)
Revaluation-2020: Decrease below Historical Cost
11-30(1)
Revaluation-2021: Recovery of Impairment Loss
11-31(1)
Global Accounting Insights
11-55(1)
12 Intangible Assets 12-1(1)
Is This Sustainable?
12-1(1)
Intangible Asset Issues
12-2(1)
Characteristics
12-2(1)
Valuation
12-3(1)
Amortization of Intangibles
12-4(1)
Types of Intangible Assets
12-5(1)
Marketing-Related Intangible Assets
12-6(1)
What Do The Numbers Mean? Keep Your Hands Off My Intangible!
12-6(1)
Customer-Related Intangible Assets
12-6(1)
Artistic-Related Intangible Assets
12-7(1)
Contract-Related Intangible Assets
12-8(1)
Technology-Related Intangible Assets
12-8(1)
What Do The Numbers Mean? Patent Battles
12-9(1)
What Do The Numbers Mean? Patents-Strategic Lifeblood
12-10(1)
Goodwill
12-10(1)
Impairment and Presentation of Intangible Assets
12-13(1)
Impairment of Limited-Life Intangibles
12-14(1)
Reversal of Impairment Loss
12-14(1)
Impairment of Indefinite-Life Intangibles Other Than Goodwill
12-15(1)
Impairment of Goodwill
12-15(1)
Presentation of Intangible Assets
12-16(1)
Research and Development Costs
12-18(1)
What Do The Numbers Mean? Global R&D Incentives
12-18(1)
Identifying R&D Activities
12-19(1)
Accounting for R&D Activities
12-20(1)
Evolving Issue Recognition of R&D and Internally Generated Intangibles
12-21(1)
Costs Similar to R&D Costs
12-21(1)
What Do The Numbers Mean? Branded
12-22(1)
Presentation of Research and Development Costs
12-23(1)
Global Accounting Insights
12-42(1)
13 Current Liabilities, Provisions, and Contingencies 13-1(1)
Now You See It, Now You Don't
13-2(1)
Current Liabilities
13-3(1)
Accounts Payable
13-4(1)
Notes Payable
13-4(1)
Current Maturities of Long-Term Debt
13-6(1)
Short-Term Obligations Expected to Be Refinanced
13-6(1)
What Do The Numbers Mean? Going, Going, Gone
13-7(1)
Dividends Payable
13-8(1)
Customer Advances and Deposits
13-8(1)
Unearned Revenues
13-8(1)
What Do The Numbers Mean? Microsoft's Liabilities-Good or Bad?
13-9(1)
Sales and Value-Added Taxes Payable
13-9(1)
Income Taxes Payable
13-11(1)
Employee-Related Liabilities
13-12(1)
Provisions
13-15(1)
Recognition of a Provision
13-15(1)
Measurement of Provisions
13-16(1)
Common Types of Provisions
13-17(1)
What Do The Numbers Mean? Frequent Flyers
13-21(1)
Evolving Issue Greenhouse Gases: Let's Be Standard-Setters
13-23(1)
Disclosures Related to Provisions
13-26(1)
Contingencies
13-27(1)
Contingent Liabilities
13-27(1)
Contingent Assets
13-28(1)
Presentation and Analysis
13-28(1)
Presentation of Current Liabilities
13-28(1)
Analysis of Current Liabilities
13-29(1)
What Do The Numbers Mean? I'll Pay You Later
13-30(1)
14 Non-Current Liabilities 14-1(1)
Going Long
14-1(1)
Bonds Payable
14-2(1)
Types of Bonds
14-3(1)
Issuing Bonds
14-3(1)
What Do The Numbers Mean? All About Bonds
14-4(1)
Valuation and Accounting for Bonds Payable
14-4(1)
What Do The Numbers Mean? How About a 100-Year Bond?
14-7(1)
Effective-Interest Method
14-7(1)
Long-Term Notes Payable
14-12(1)
Notes Issued at Face Value
14-12(1)
Notes Not Issued at Face Value
14-12(1)
Special Notes Payable Situations
14-14(1)
Mortgage Notes Payable
14-16(1)
Extinguishment of Non-Current Liabilities
14-17(1)
Extinguishment with Cash before Maturity
14-17(1)
Extinguishment by Exchanging Assets or Securities
14-19(1)
Extinguishment with Modification of Terms
14-19(1)
Presentation and Analysis
14-21(1)
Fair Value Option
14-21(1)
Off-Balance-Sheet Financing
14-22(1)
Evolving Issue Off-and-On Reporting
14-24(1)
Presentation of Non-Current Liabilities
14-24(1)
Analysis of Non-Current Liabilities
14-26(1)
Global Accounting Insights
14-44(1)
15 Equity 15-1(1)
It's A Global Market
15-1(1)
Corporate Capital
15-3(1)
Corporate Form
15-3(1)
What Do The Numbers Mean? A Class (B) Act
15-4(1)
Components of Equity
15-5(1)
Issuance of Shares
15-5(1)
Preference Shares
15-9(1)
Reacquisition of Shares
15-10(1)
What Do The Numbers Mean? Signals to Buy?
15-11(1)
Purchase of Treasury Shares
15-12(1)
Sale of Treasury Shares
15-13(1)
Retiring Treasury Shares
15-14(1)
What Do The Numbers Mean? Buyback Volatility
15-14(1)
Dividend Policy
15-14(1)
Financial Condition and Dividend Distributions
15-15(1)
Types of Dividends
15-15(1)
Share Dividends and Share Splits
15-18(1)
What Do The Numbers Mean? Dividends Up, Dividends Down
15-20(1)
Presentation and Analysis of Equity
15-21(1)
Presentation of Equity
15-21(1)
Analysis
15-22(1)
Appendix 15A Dividend Preferences and Book Value per Share
15-24(1)
Dividend Preferences
15-24(1)
Book Value per Share
15-26(1)
Global Accounting Insights
15-46(1)
16 Dilutive Securities and Earnings per Share 16-1(1)
Kicking The Habit
16-2(1)
Dilutive Securities
16-3(1)
Debt and Equity
16-3(1)
Convertible Debt
16-3(1)
Convertible Preference Shares
16-8(1)
What Do The Numbers Mean? How Low Can You Go?
16-9(1)
Share Warrants
16-9(1)
Share Warrants Issued with Other Securities
16-10(1)
Rights to Subscribe to Additional Shares
16-11(1)
Share Compensation Plans
16-12(1)
Measurement-Share Compensation
16-13(1)
Recognition-Share Compensation
16-14(1)
Restricted Shares
16-16(1)
Employee Share-Purchase Plans
16-17(1)
Disclosure of Compensation Plans
16-18(1)
Debate over Share-Option Accounting
16-18(1)
Basic Earnings per Share
16-20(1)
Earnings per Share-Simple Capital Structure
16-20(1)
Comprehensive Example
16-23(1)
Diluted Earnings per Share
16-24(1)
Diluted EPS-Convertible Securities
16-25(1)
Diluted EPS-Options and Warrants
16-27(1)
Contingently Issuable Shares
16-28(1)
Antidilution Revisited
16-28(1)
EPS Presentation and Disclosure
16-29(1)
Summary of EPS Computation
16-30(1)
Appendix 16A Accounting for Share-Appreciation Rights
16-31(1)
SARS-Share-Based Equity Awards
16-32(1)
SARS-Share-Based Liability Awards
16-32(1)
Share-Appreciation Rights Example
16-33(1)
Appendix 16B Comprehensive Earnings per Share Example
16-34(1)
Diluted Earnings Per Share
16-35(1)
Global Accounting Insights
16-57(1)
17 Investments 17-1(1)
What To Do?
17-1(1)
Debt Investments
17-2(1)
Classification and Measurement of Financial Assets
17-3(1)
A Closer Look at Debt Investments
17-4(1)
What Do The Numbers Mean? What Is Fair Value?
17-12(1)
Equity Investments
17-12(1)
Holdings of Less Than 20%
17-13(1)
What Do The Numbers Mean? The Fair Value Challenge
17-17(1)
Holdings Between 20% and 50%
17-18(1)
Holdings of More Than 50%
17-20(1)
What Do The Numbers Mean? Who's in Control Here?
17-20(1)
Summary of Reporting Treatment of Investments
17-20(1)
Other Reporting Issues
17-21(1)
Impairment of Value
17-21(1)
What Do The Numbers Mean? Too Little, Too Late
17-25(1)
Recycling Adjustments
17-26(1)
Transfers Between Categories
17-29(1)
Evolving Issue Fair Value Controversy
17-30(1)
Appendix 17A Accounting for Derivative Instruments
17-30(1)
Defining Derivatives
17-31(1)
Who Uses Derivatives, and Why?
17-31(1)
Producers and Consumers
17-32(1)
Speculators and Arbitrageurs
17-32(1)
Basic Principles in Accounting for Derivatives
17-33(1)
Derivative Financial Instrument (Speculation)
17-33(1)
Differences between Traditional and Derivative Financial Instruments
17-36(1)
Derivatives Used for Hedging
17-36(1)
What Do The Numbers Mean? Risky Business
17-37(1)
Fair Value Hedge
17-37(1)
Cash Flow Hedge
17-39(1)
Other Reporting Issues
17-41(1)
Embedded Derivatives
17-41(1)
Qualifying Hedge Criteria
17-42(1)
Summary of Derivatives Accounting
17-43(1)
Comprehensive Hedge Accounting Example
17-43(1)
Fair Value Hedge
17-44(1)
Financial Statement Presentation of an Interest Rate Swap
17-45(1)
Controversy and Concluding Remarks
17-47(1)
Appendix 17B Fair Value Disclosures
17-47(1)
Disclosure of Fair Value Information: Financial Instruments
17-47(1)
Disclosure of Fair Values: Impaired Assets or Liabilities
17-50(1)
Conclusion
17-51(1)
Global Accounting Insights
17-75(1)
18 Revenue Recognition 18-1(1)
It's Back
18-2(1)
Fundamentals of Revenue Recognition
18-3(1)
Background
18-3(1)
New Revenue Recognition Standard
18-4(1)
Overview of the Five-Step Process-Airbus Example
18-4(1)
Extended Example of the Five-Step Process: BEAN
18-5(1)
The Five-Step Process Revisited
18-9(1)
Identifying the Contract with Customers-Step 1
18-9(1)
Identifying Separate Performance Obligations-Step 2
18-10(1)
Determining the Transaction Price-Step 3
18-11(1)
Allocating the Transaction Price to Separate Performance Obligations-Step 4
18-15(1)
Recognizing Revenue When (or as) Each Performance Obligation Is Satisfied-Step 5
18-17(1)
Summary
18-18(1)
Accounting for Revenue Recognition issues
18-19(1)
Sales Returns and Allowances
18-19(1)
Repurchase Agreements
18-22(1)
Bill-and-Hold Arrangements
18-24(1)
Principal-Agent Relationships
18-24(1)
Consignments
18-25(1)
Warranties
18-26(1)
Non-Refundable Upfront Fees
18-28(1)
Summary
18-29(1)
Presentation and Disclosure
18-29(1)
Presentation
18-29(1)
Disclosure
18-33(1)
Evolving Issue Revenue: "It's Like an Octopus"
18-34(1)
Appendix 18A Long-Term Construction Contracts
18-34(1)
Revenue Recognition Over Time
18-34(1)
Percentage-of-Completion Method
18-35(1)
Cost-Recovery (Zero-Profit) Method
18-40(1)
Long-Term Contract Losses
18-42(1)
Appendix 18B Revenue Recognition for Franchises
18-44(1)
Franchise Accounting
18-45(1)
Recognition of Franchise Rights Revenue over Time
18-47(1)
19 Accounting for Income Taxes 19-1(1)
Safe (Tax) Haven?
19-1(1)
Fundamentals of Accounting for Income Taxes
19-3(1)
Future Taxable Amounts and Deferred Taxes
19-5(1)
What Do The Numbers Mean? "Real Liabilities"
19-8(1)
Future Deductible Amounts and Deferred Taxes
19-8(1)
What Do The Numbers Mean? "Real Assets"
19-11(1)
Deferred Tax Asset (Non-Recognition)
19-11(1)
Additional Issues
19-12(1)
Income Statement Presentation
19-12(1)
Specific Differences
19-13(1)
Tax Rate Considerations
19-16(1)
What Do The Numbers Mean? Global Tax Rates
19-17(1)
Accounting for Net Operating Losses
19-18(1)
Loss Carryback
19-18(1)
Loss Carryforward
19-19(1)
Loss Carryback Example
19-19(1)
Loss Carryforward Example
19-20(1)
Evolving Issue Uncertain Tax Positions
19-23(1)
Financial Statement Presentation
19-23(1)
Statement of Financial Position
19-23(1)
Income Statement
19-24(1)
Tax Reconciliation
19-26(1)
What Do The Numbers Mean? The Tax Twist
19-27(1)
Review of the Asset-Liability Method
19-27(1)
Appendix 19A Comprehensive Example of Interperiod Tax Allocation
19-29(1)
First Year-2018
19-29(1)
Taxable Income and Income Taxes Payable-2018
19-30(1)
Computing Deferred Income Taxes-End of 2018
19-30(1)
Deferred Tax Expense (Benefit) and the Journal Entry to Record Income Taxes-2018
19-31(1)
Financial Statement Presentation-2018
19-32(1)
Second Year-2019
19-33(1)
Taxable Income and Income Taxes Payable-2019
19-33(1)
Computing Deferred Income Taxes-End of 2019
19-34(1)
Deferred Tax Expense (Benefit) and the Journal Entry to Record Income Taxes-2019
19-34(1)
Financial Statement Presentation-2019
19-35(1)
Global Accounting Insights
19-56(1)
20 Accounting for Pensions and Postretirement Benefits 20-1(1)
Pension Peril
20-2(1)
Fundamentals of Pension Plan Accounting
20-3(1)
Defined Contribution Plan
20-4(1)
Defined Benefit Plan
20-4(1)
What Do The Numbers Mean? Which Plan Is Right for You?
20-5(1)
The Role of Actuaries in Pension Accounting
20-6(1)
Measures of the Liability
20-6(1)
Reporting Changes in the Defined Benefit Obligation (Asset)
20-8(1)
Plan Assets and Actual Return
20-10(1)
Using a Pension Worksheet
20-11(1)
2019 Entries and Worksheet
20-12(1)
Funded Status
20-13(1)
Past Service Cost
20-13(1)
2020 Entries and Worksheet
20-14(1)
Remeasurements
20-15(1)
Asset Gains and Losses
20-16(1)
Liability Gains and Losses
20-16(1)
2021
Entries and Worksheet
20-16(1)
What Do The Numbers Mean? Roller Coaster
20-19(1)
Reporting Pension Plans in Financial Statements
20-19(1)
Within the Financial Statements
20-20(1)
Within the Notes to the Financial Statements
20-22(1)
Other Postretirement Benefits
20-23(1)
Concluding Observations
20-24(1)
What Do The Numbers Mean? How's Your Volatility?
20-24(1)
Global Accounting Insights
20-45(1)
21 Accounting for Leases 21-1(1)
Times Are A-Changing
21-1(1)
The Leasing Environment
21-3(1)
A Look at the Lessee
21-3(1)
Advantages of Leasing-Lessees
21-4(1)
A Look at the Lessor
21-4(1)
Advantages of Leasing-Lessors
21-5(1)
What Do The Numbers Mean? Residual Value Regret
21-6(1)
Lessee Accounting
21-6(1)
Measurement of the Lease Liability and Lease Asset
21-7(1)
Subsequent Lessee Accounting
21-9(1)
What Do The Numbers Mean? Your Lease Is Killing My Income
21-17(1)
Summary of Lessee Accounting
21-18(1)
Lessor Accounting
21-18(1)
Economics of Leasing
21-18(1)
Classification of Leases by the Lessor
21-19(1)
What Do The Numbers Mean? Not so Fast
21-21(1)
Accounting Measurement and Presentation
21-21(1)
Lessor Accounting for Operating Leases
21-26(1)
Special Lease Accounting Problems
21-28(1)
Other Lease Adjustments
21-28(1)
Presentation, Disclosure, and Analysis
21-30(1)
Evolving Issue Bring It On!
21-34(1)
Appendix 21A Sale-Leasebacks
21-34(1)
Accounting Issues in Sale-Leaseback Transactions
21-35(1)
Sale Transaction
21-36(1)
Financing Transaction (Failed Sale)
21-36(1)
Sale-Leaseback Example
21-37(1)
Appendix 21B Comprehensive Example
21-38(1)
Lease Terms: Scenario 1
21-38(1)
Lease Classification
21-39(1)
Lessee/Lessor Accounting
21-39(1)
Lease Terms: Scenario 2
21-41(1)
Lease Classification
21-42(1)
Lessee Accounting
21-42(1)
Lessor Accounting-Operating Lease
21-44(1)
Global Accounting Insights
21-68(1)
22 Accounting Changes and Error Analysis 22-1(1)
Needed: Valid Comparisons
22-2(1)
Accounting Changes
22-3(1)
Background
22-3(1)
Changes in Accounting Policy
22-3(1)
What Do The Numbers Mean? Comparison Challenges-Squared
22-5(1)
Impracticability
22-14(1)
Changes in Accounting Estimates
22-14(1)
Prospective Reporting
22-15(1)
What Do The Numbers Mean? A Change for the Better?
22-16(1)
Disclosures
22-17(1)
Accounting Errors
22-17(1)
Example of Error Correction
22-18(1)
What Do The Numbers Mean? Guard the Financial Statements!
22-20(1)
Summary of Accounting Changes and Correction of Errors
22-21(1)
What Do The Numbers Mean? What's Your Motivation?
22-22(1)
Error Analysis
22-23(1)
Statement of Financial Position Errors
22-23(1)
Income Statement Errors
22-23(1)
Statement of Financial Position and Income Statement Errors
22-23(1)
Comprehensive Example: Numerous Errors
22-27(1)
Preparation of Financial Statements with Error Corrections
22-29(1)
Global Accounting Insights
22-53(1)
23 Statement of Cash Flows 23-1(1)
Show Me The Money!
23-1(1)
The Statement of Cash Flows
23-2(1)
Usefulness of the Statement of Cash Flows
23-3(1)
Classification of Cash Flows
23-3(1)
Cash and Cash Equivalents
23-5(1)
What Do The Numbers Mean? How's My Cash Flow?
23-5(1)
Format of the Statement of Cash Flows
23-6(1)
Preparing the Statement of Cash Flows
23-6(1)
Illustrations-Tax Consultants Inc.
23-7(1)
Sources of Information for the Statement of Cash Flows
23-16(1)
Net Cash Flow from Operating Activities- Direct Method
23-16(1)
Evolving Issue Direct versus Indirect
23-21(1)
Special Problems in Statement Preparation
23-22(1)
Adjustments to Net Income
23-22(1)
Accounts Receivable (Net)
23-25(1)
Other Working Capital Changes
23-27(1)
Net Losses
23-27(1)
Disclosures
23-28(1)
What Do The Numbers Mean? Better than ROA?
23-29(1)
Use of a Worksheet
23-30 Preparation of the Worksheet 23-31(1)
Analysis of Transactions
23-31(1)
Preparation of Final Statement
23-38(1)
Global Accounting Insights
23-65(1)
24 Presentation and Disclosure in Financial Reporting 24-1
We Need Better, Not More
24-1(1)
Full Disclosure Principle
24-3(1)
Increase in Reporting Requirements
24-4(1)
Differential Disclosure
24-4(1)
Notes to the Financial Statements
24-5(1)
What Do The Numbers Mean? Footnote Secrets
24-8(1)
Disclosure Issues
24-8(1)
Disclosure of Special Transactions or Events
24-8(1)
Events after the Reporting Period (Subsequent Events)
24-10(1)
Reporting for Diversified (Conglomerate) Companies
24-12(1)
Interim Reports
24-16(1)
Evolving Issue It's Faster But Is It Better?
24-20(1)
Auditor's And Management's Reports
24-20(1)
Auditor's Report
24-20(1)
What Do The Numbers Mean? Heart of the Matter
24-23(1)
Management's Reports
24-24(1)
Current Reporting Issues
24-27(1)
Reporting on Financial Forecasts and Projections
24-27(1)
What Do The Numbers Mean? Global Forecasts
24-28(1)
Internet Financial Reporting
24-29(1)
Fraudulent Financial Reporting
24-29(1)
Criteria for Making Accounting and Reporting Choices
24-31(1)
Evolving Issue Disclosure Overload?
24-32(1)
Appendix 24A Basic Financial Statement Analysis
24-32(1)
Perspective on Financial Statement Analysis
24-33(1)
Ratio Analysis
24-33(1)
Limitations of Ratio Analysis
24-35(1)
Comparative Analysis
24-36(1)
Percentage (Common-Size) Analysis
24-37(1)
Appendix 24B First-Time Adoption of IFRS
24-38(1)
General Guidelines
24-38(1)
Relevant Dates
24-39(1)
Implementation Steps
24-39(1)
Opening IFRS Statement of Financial Position
24-39(1)
Exemptions from Retrospective Treatment
24-41(1)
Presentation and Disclosure
24-42(1)
Summary
24-43(1)
Global Accounting Insights
24-64
Appendix A Specimen Financial Statements: Marks and Spencer Group plc A-1
Appendix B Specimen Financial Statements: adidas AG B-1
Appendix C Specimen Financial Statements: Puma Group C-1
Index
Donald E. Kieso, PhD, CPA, received his bachelor's degree from Aurora University and his doctorate in accounting from the University of Illinois. He is currently the KPMG Peat Marwick Emeritus Professor of Accounting at Northern Illinois University. He has public accounting experience with Price Waterhouse & Co. and Arthur Andersen & Co. and research experience with the Research Division of the American Institute of Certified Public Accountants. He has done post doctorate work as a Visiting Scholar at the University of California at Berkeley and is a recipient of NIU's Teaching Excellence Award and four Golden Apple Teaching Awards. Professor Kieso is the author of other accounting and business books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Illinois CPA Society. He is currently serving on the Board of Trustees and Executive Committee of Aurora University, as a member of the Board of Directors of Castle BancGroup Inc., and as Treasurer and Director of Valley West Community Hospital.

Jerry J. Weygandt, PhD, CPA, is Arthur Andersen Alumni Professor of Accounting at the University of Wisconsin-Madison. He holds a Ph.D. in accounting from the University of Illinois. Articles by Professor Weygandt have appeared in the Accounting Review, Journal of Accounting Research, Accounting Horizons, Journal of Accountancy, and other academic and professional journals. These articles have examined such financial reporting issues as accounting for price-level adjustments, pensions, convertible securities, stock option contracts, and interim reports. Professor Weygandt is author of other accounting and financial reporting books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Wisconsin Society of Certified Public Accountants. He has served on numerous committees of the American Accounting Association and as a member of the editorial board of the Accounting Review; he also has served as President and Secretary-Treasurer of the American Accounting Association. He is the recipient of the Wisconsin Institute of CPAs Outstanding Educator's Award and the Lifetime Achievement Award. In 2001 he received the American Accounting Association's Outstanding Accounting Educator Award.

Terry D. Warfield, Ph.D. is associate professor of accounting at the University of Wisconsin-Madison. He received a B.S. and M.B.A from Indiana University and a Ph.D. in accounting from the University of Iowa. Professor Warfield's area of expertise is financial reporting, and prior to his academic career, he worked for five years in the banking industry. He served as the Academic Accounting Fellow in the Office of the Chief Accountant at the U.S. Securities and Exchange commission in Washington, D.C. from 1995-1996). Professor Warfield's primary research interests concern financial accounting standards and disclosure policies. He has published scholarly articles in the Accounting Review, Journal of  Accounting and Economics, Research in Accounting Regulation, and Accounting Horizons, and he has served on the editorial boards of the Accounting Review, Accounting Horizons, and Issues in Accenting Education. He has served as president of the Financial Accounting and Reporting Section, the Financial Accounting Standards Committee  of the American Accounting Association (Chair 1995-1996), and on  the AAA-FASB Research Conference Committee. Professor Warfield has  received teaching awards at both the University of Iowa and the  University of Wisconsin, and he was named to the teaching Academy at the University of Wisconsin in 1995. Professor Warfield has  developed and published several case studies based on his research for use in accounting classes. Theses cases have been selected for the AICPA Professor-Practitioner Case Development Program and have  been published in Issues in Accounting Education.