Financial Accounting Theory and Analysis 11^th Edition continues to focus on showing readers how accounting standards directly affect daily decision making on the job. The new edition of this text has been updated and revised to provide students and professionals with the theoretical background they need to keep up with the convergence issues and succeed in today’s increasingly global economy. The 11^th Edition incorporates all new standards or exposure drafts from the FASB and IASB released, including an updated revenue recognition section with the FASB’s discussion of the “milestone method” integrated. The revenue recognition section has been updated to include the FASB’s new revised exposure drafts, Revenue from Contracts with Customers. The discussion of comprehensive income has been updated to include the new reporting requirement. The new edition also includes updated discussions of offsetting assets and liabilities and the FASB’s new ASU on the topic. The text now includes goodwill updates and the new fair guidelines.Financial Accounting Theory and Analysis 11^th Edition contains an updated transfer and receivables section, which now incorporates a discussion of Lehman Brothers bankruptcy and Repo 105 transactions.

1. THE DEVELOPMENT OF ACCOUNTING THEORY

The Early History of Accounting

Accounting in the United States since 1930

The Role of Ethics in Accounting

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

2. THE PURSUIT OF THE CONCEPTUAL FRAMEWORK

The Early Theorists

Early Authoritative and Semi-Authoritatve Organizational

Attempts to Develop the Conceptual Framework of Accounting

The FASB’s Conceptual Framework Project

Principles-Based versus Rules-Based Accounting Standards

International Convergence

Cases

FASB ASC Research

Room for Debate

3. INTERNATIONAL ACCOUNTING

International Business Accounting Issues

The Development of Accounting Systems

Preparation of Financial Statements for Foreign Users

The International Accounting Standards Committee

Revising the IASB’s Constitution

The Uses of International Accounting Standards

The IASB and the IOSCO

The IASB Annual Improvements Project

The Use of IASC Standards

The IASB-FASB Convergence Project

The Impact of International versus U.S. GAAP Accounting Standards

Standards Overload

Framework for the Preparation and Presentation of
Financial Statements

IAS No. 1 and IFRS No. 1

Cases

FASB ASC Research

Room for Debate

4. RESEARCH METHODOLOGY AND THEORIES ON THE USES OF ACCOUNTING INFORMATION

Research Methodology

The Outcomes of Providing Accounting Information 115

The Relationship among Research,
Education, and Practice

Cases

FASB ASC Research

Room for Debate

5. INCOME CONCEPTS

The Nature of Income

Income Recognition

Earnings Quality, Earnings Management, and
Fraudulent Financial Reporting

Cases

FASB ASC Research

Room for Debate

6. FINANCIAL STATEMENTS I: THE INCOME STATEMENT

The Economic Consequences of Financial Reporting

Income Statement Elements

Statement Format

Proposed Format of the Statement of
Comprehensive Income

The Value of Corporate Earnings

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

7. FINANCIAL STATEMENTS II: THE BALANCE SHEET AND THE STATEMENT OF CASH FLOWS

The Balance Sheet

Fair Value Measurements under SFAS No. 157

Proposed Format of the Statement of
Financial Position

Evaluating a Company’s Financial Position

The Statement of Cash Flows

Financial Analysis of Cash-flow Information

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

8. WORKING CAPITAL

Development of the Working Capital Concept

Current Usage

Components of Working Capital

Financial Analysis of a Company’s
Working Capital Position

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

9. LONG-TERM ASSETS I: PROPERTY, PLANT, AND EQUIPMENT

Property, Plant, and Equipment

Financial Analysis of Property, Plant, and Equipment

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

10. LONG-TERM ASSETS II: INVESTMENTS AND INTANGIBLES

Investments in Equity Securities

Investments in Debt Securities

Impairment of Investments in Unsecuritized Debt

Transfers of Financial Assets

Intangibles

Financial Analysis of Investments and Intangibles

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

11. LONG-TERM LIABILITIES

The Definition of Liabilities

Recognition and Measurement of Liabilities

Contents

Debt versus Equity

Long-Term Debt Classification

Other Liability Measurement Issues

Troubled Debt Restructurings

Financial Analysis of Long-Term Debt

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

12. ACCOUNTING FOR INCOME TAXES

Historical Perspective

The Income Tax Allocation Issue

SFAS No. 109

Financial Analysis of Income Taxes

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

13. LEASES

Accounting for Leases

Financial Analysis of Leases

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

14. PENSIONS AND OTHER POSTRETIREMENT BENEFITS

Historical Perspective

Accounting for the Pension Fund

The Employee Retirement Income Security Act

Other Postretirement Benefits

SFAS No. 132

SFAS No. 158

Financial Analysis of Pension and Other Postretirement Benefits

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

15. EQUITY

Theories of Equity

Definition of Equity

Reporting Equity

Financial Analysis of Stockholders’ Equity

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

16. ACCOUNTING FOR MULTIPLE ENTITIES

Business Combinations

Accounting for Business Combinations

Business Combinations II

Theories of Consolidation

Noncontrolling Interest

Drawbacks of Consolidation

Special-Purpose Entities

Segment Reporting

Foreign Currency Translation

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

17. FINANCIAL REPORTING DISCLOSURE REQUIREMENTS AND ETHICAL RESPONSIBILITIES

Recognition and Measurement Criteria

Areas Directly Affected by Existing FASB Standards—
Supplementary Information

Other Means of Financial Reporting

Other Useful Information for Investment, Credit, and Similar Decisions

Securities and Exchange Commission

Ethical Responsibilities

International Accounting Standards

Cases

FASB ASC Research

Room for Debate

Index

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Financial Accounting Theory and Analysis: Text and Cases

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