Issues in Financial Accounting, 16th Edition

Issues in Financial Accounting combines the theoretical with practical application to address key concepts and issues in financial accounting.

Updated to reflect changes to the Australian Accounting Standards Board (AASB) standards and interpretations (up to the end of September 2016), changes to this edition have focused on accounting content and updates.

Real world examples balanced with a breadth and depth of content ensures students develop a critical understanding of the topics in financial accounting.

Features

Learning Objectives at the beginning of the chapter and signposted in the margins identify the key topics covered.
Accounting in Focus boxes highlight real world financial reports, data and other accounting items of interest from the media.
Worked examples demonstrate how to solve accounting problems step-by-step.
Glossary definitions in the margins ensure students fully understand the key terms.
Selected References highlight classic literature on concepts and issues in accounting.
End of Chapter Questions and Problems encourage revision of the theory and practice of skills.
Web Exercises provide the link between theory and practice using real company information.
Case Studies provide context and exposure to real-life issues that can arise in the practice of financial accounting.

Table of Contents

Part 1 Institutional setting and the conceptual framework
Chapter 1 Institutional arrangements for setting accounting standards in Australia
Chapter 2 The conceptual framework: Purpose, reporting entity, the objective of financial reporting, and qualitative characteristics
Chapter 3 The conceptual framework: Definition, recognition and measurement of the elements in general purpose financial statements
Chapter 4 Fair value measurement
Chapter 5 The choice of accounting methods

Part 2 The statement of financial position
Chapter 6 The statement of financial position: An overview
Chapter 7 Accounting for current assets
Chapter 8 Accounting for property, plant and equipment
Chapter 9 Accounting for company income tax
Chapter 10 Accounting for intangible assets
Chapter 11 Accounting for leases
Chapter 12 Accounting for employee benefits
Chapter 13 Accounting for financial instruments

Part 3 The statement of comprehensive income and further financial reporting issues
Chapter 14 The statement of comprehensive income
Chapter 15 Revenue
Chapter 16 The statement of cash flows
Chapter 17 Financial reporting: Segment reporting and highlights statements
Chapter 18 Further financial reporting issues

Part 4 Industry accounting standards
Chapter 19 Accounting for the extractive industries
Chapter 20 Accounting for agricultural activity
Chapter 21 Accounting for superannuation entities
Chapter 22 Accounting for insurance

Part 5 International accounting
Chapter 23 International accounting standards, harmonisation and convergence
Chapter 24 Foreign currency translation

Part 6 Accounting and the community
Chapter 25 Accounting for corporate social responsibilities
Chapter 26 Ethics in accounting