This, the first book devoted exclusively to consolidated financial statements, lets readers access useful information in half the time it previously took. Only this single reference source answers all practical questions relating to the preparation or use of consolidation, translation, or the equity method; provides a simple explanation of all the underlying concepts; describes every procedure; provides examples from annual reports of disclosures; and discusses all relevant issues, including stockholding changes, intercompany tax allocations, and push down accounting.
This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This comprehensive resource is widely recognized and relied on as a single reference source that provides answers to all reasonable questions on accounting and financial reporting asked by accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information. The new edition reflects the new FASB Codification, and includes expanded coverage of fair value and guidance on developing fair value estimates, fraud risk and exposure, healthcare, and IFRS.
Inhaltsangabe:Abstract: The paper deals with foreign currency translation under IAS/IFRS considering hedging strategies that help to minimize foreign currency exposures. It is broadly described, which currency exposures companies face, which basic hedging strategies exist and how they are accounted for in consolidated financial statements of international groups. After the foreign currency exposures are introduced and basic hedging strategies for each of these exposures are provided, the procedure of foreign currency translations according to IAS 21 (revised 2003) is introduced. The paper deals with the translation of transactions denominated in currencies other than the company s home currency as well as with the inclusion of foreign subsidiaries in the consolidated financial statements. Therefore, various examples are provided. As the topic of the thesis is foreign currency hedging, a closer look is taken on IAS 39 (revised 2003) which includes introduction of the three kinds of hedging and their accounting as required by IAS 39. Especially the links between IAS 21 and IAS 39 are pointed out and analyzed. Also the section dealing with IAS 39 provides various examples that make the reader understand the accounting and consolidation procedures. At the end, exposure drafts of the IASB dealing with IAS 39 are introduced and the possible effects are briefly mentioned. This paper also includes a case study, based on the example of a big Chilean incorporated Company. This case study provides the problems and possible solutions of foreign currency risks a real company faces as well as the related accounting issues. Furthermore, the case study shows, how foreign currency hedges are accounted for using other accounting principles (here Chilean GAAP) and which steps have to be taken to perform a reconciliation from Chilean GAAP to IFRS. As the thesis has been presented at a German university, all questions and important points are seen from both, a theoretic view and a practical view. It provides the reader a comprehensive knowledge of currency translation and hedge accounting and makes him able to understand where these two topics are linked and which problems related to this topic companies face when preparing (consolidated) financial statements under IFRS. Inhaltsverzeichnis:Table of Contents: AcknowledgementsI AbbreviationsV List of TablesVII 1.ntroduction1 2.Management of Foreign Currency Risks5 2.1Currency Exposures5 2.1.1General [...]
A professional perspective to implementing IFRS 10, 11, and 12 The new International Financial Reporting Standards (IFRS) 10, 11, and 12 are changing group accounting for many businesses. As business becomes increasingly global, more and more firms will need to transition using the codes and techniques described in Principles of Group Accounting under IFRS. This book is a practical guide and reference to the standards related to consolidated financial statements, joint arrangements, and disclosure of interests. Fully illustrated with a step-by-step case study, Principles of Group Accounting under IFRS is equally valuable as an introductory text and as a reference for addressing specific issues that may arise in the process of consolidating group accounts. The new international standards will bring about significant changes in group reporting, and it is essential for accountants, auditors, and business leaders to understand their implications. Author Andreas Krimpmann is an internationally recognized authority on the transition from GAAP to IFRS, and this new text comes packaged with GAAP/IFRS comparison resources that will help make the changes clear. Other bonus resources include an Excel-based consolidation tool, checklists, and a companion website with the latest information. Learn about: Definitions, requirements, processes, and transition techniques for IFRS 10, 11, and 12 covering group level accounting Practical implementation strategies demonstrated through a clear case study of a midsize group Key concepts related to consolidated financial statements, joint ventures, management consolidation, and disclosure of interests Comparisons between GAAP and IFRS to clarify the required changes for international firms Whatever stage of the consolidation process you are in, you will appreciate the professional perspective in Principles of Group Accounting under IFRS.
This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This handbook is the first place many accountants look to find answers to practice questions. Its comprehensive scope is widely recognized and relied on. It is designed as a single reference source that provides answers to all reasonable questions on accounting and financial reporting asked by accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information.
Consolidated Financial Reporting introduces and examines what is currently the most central and controversial area in financial reporting. In an innovative and distinctive way the author integrates concepts, techniques, controversies and current practice. Techniques are introduced within a framework which shows why they work and what the figures mean. Controversial issues are grounded within modern accounting theory and practice. All core areas and relevant standards are covered including: acquisition and merger accounting; fair values at acquisition; goodwill; consolidated cash flow statements; reporting consolidated financial performance; foreign currency translation; segmental reporting; off-balance sheet financing; and related party transactions. The book is designed so that readers with particular interests - for example in technical matters or concepts and standards - can easily find their way through clearly marked sections. Discussion and calculation reinforce each other - calculations illustrate controversies, and controversies and concepts illustrate techniques. Examples are carefully graduated and care is taken not to obscure principles with unnecessarily complex calculations. Materials are set into an international context. The book is both rigorous and accessible. It is an extensive revision of and successor to the author′s 1987 title Consolidated Financial Statements. Because of recent theoretical and institutional developments, an enormous amount of new material has been added and new teaching approaches to many areas included. There are many more worked examples and exercises as well as approachable discussions of ′state-of-the-art′ advanced topics. The solutions notes for each case are avilable on a disk for instructors who recommend the book for course use.
As each new accounting question or scandal hits Wall Street, investment professionals too often find themselves asking, “What happened?” Accounting for M&A, Equity, and Credit Analysts answers the most common accounting questions, all in an easy-to-follow format designed to provide investment professionals with real-world, hands-on knowledge of key accounting treatments, models, and practices. Written by well-known M&A expert James E. Morris, this versatile accounting desk reference bridges the gap between what is taught in business school and what is needed in the real world.
The approach used by Hoyle, Schaefer, and Doupnik in the new edition allows students to think critically about accounting, just as they will do while preparing for the CPA exam and in their future careers. With this text, students gain a well-balanced appreciation of the Accounting profession. As Hoyle 12e introduces them to the field’s many aspects, it often focuses on past controversies and present resolutions. The text continues to show the development of financial reporting as a product of intense and considered debate that continues today and into the future. The writing style of the eleven previous editions has been highly praised. Students easily comprehend chapter concepts because of the conversational tone used throughout the book. The authors have made every effort to ensure that the writing style remains engaging, lively, and consistent which has made this text the market leading text in the Advanced Accounting market. The 12th edition includes an increased integration of IFRS as well as updated accounting standards.
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
