Financial Accounting

by Kothari, Jagdish; Barone, Elisabetta

• ISBN13: 9780273693192
• ISBN10: 0273693190
• Format: Paperback
• Copyright: 2006-06-30
• Publisher: Financial Times Prentice Hall

Summary

The world of financial accounting is changing rapidly, with all listed companies in the EU now required to publish their financial statements according to IFRS. Financial Accounting: An International Approach is written to reflect the latest financial accounting developments and their implications, and is the ideal text for non-specialist students.Aimed at those students who wish to pursue careers as managers in business or similar organisations, the book offers an innovative, practical and interactive approach to the subject. Focusing on the use of financial information rather than simply presenting technical methodology, and bearing the non-specialist in mind, the authors explain the ground rules of book-keeping, but never to the detriment of essential underlying concepts. This accessible, graduated approach is supported by a number of innovative features: Includes extracts from the published company reports of leading organisations such as Puma, adidas, Coloplast, Novo Nordisk, Unilever, Austrian Airlines, Deutsche Post, Kerry Group and Henkel, which comply with IFRS. Presents and discusses contemporary examples of poor and/or fraudulent accounting, giving the reader an important insight into the role of reliable financial information in a market economy in which companies are becoming more global every day. Introduces and illustrates corporate governance issues in a practical manner, placing this topical subject in the context of real-world situations. Every chapter boasts a wealth of pedagogical features designed to aid study, including learning objectives, extracts from financial press and real world company accounts, summaries, self-assessment questions and workshop exercises, making this the ideal introduction to IFRS and contemporary financial accounting. Jagdish Kothari FCA (ICAEW) is a retired partner of Price Waterhouse Cooper and now a consultant to Ernst & Young and visiting Professor at Bocconi University, Milan.Elisabetta Barone is a Dottore Commercialista (chartered accountant) and Postdoctoral Fellow at Bocconi University, Milan.

Table of Contents

The Framework of Financial Reporting

Introduction to Financial Accounting

Key Accounting Concepts

Financial position and financial performance

Balance sheet: an overall view

Income statement: an overall view

Revenue and trade receivables

Inventory and Cost of Sales

Tangible and intangible assets

Liabilities

Owners' Equity

Preparation of financial statements

How to record transactions and prepare financial reports for a single enterprise

Preparation of financial reports for a group of enterprises

Measuring and reporting cash flows

Analysis and Interpretation of Financial Statements

Trends and common-size statements

Corporate liquidity and solvency

Operating performance

Determinants of corporate value

Current Developments in corporate governance

Corporate reporting and corporate governance

Public trust in corporate reporting Glossary

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