This text uncovers the conceptual and contextual foundations of IFRS and contrasts them with US GAAP, and other international differences which remain between countries such as China, France, Germany and Japan.
Christopher Nobes is Professor of Accounting at Royal Holloway, University of London. From 1993 to 2001 he was a representative on the board of International Accounting Standards Committee.
Robert Parker is Emeritus Professor of Accounting at the University of Exeter, UK. He was formerly editor of the journal, Accounting and Business Research.
Both authors received the American Accounting Associations Outstanding International Accounting Educator award.
Part I: SETTING THE SCENE
2 Causes and examples of international differences
3 International classification of financial reporting
4 International harmonization
Part II: FINANCIAL REPORTING BY LISTED GROUPS USING IFRS OR US GAAP
5 The context of financial reporting by listed groups
6 The requirements of International Financial Reporting Standards
7 Different versions of IFRS practice
8 Financial reporting in the United States
9 Key financial reporting topics
10 Political lobbying on accounting standards US, UK, and international experience
Part III: CHINA AND JAPAN
11 Financial reporting in China and Japan
Part IV: FINANCIAL REPORTING BY INDIVIDUAL COMPANIES
12 The context of financial reporting by individual companies
13 Harmonization and transition in Europe
14 Making accounting rules for unlisted business entities in Europe
15 Accounting rules and practices of individual companies in Europe
Part V: GROUP ACCOUNTING ISSUES IN REPORTING BY MNEs
16 Group accounting
17 Foreign currency translation
18 Segment reporting
Part VI: ENFORCEMENT AND ANALYSIS
19 Enforcement of financial reporting requirements
20 International auditing
21 International financial analysis
Synoptic table of accounting differences in eight GAAPs 2011
Glossary of abbreviations
Suggested answers to some of the end-of-chapter questions