The fully updated International Edition of Elliott and Elliott's market-leading 'Financial Accounting and Reporting' uses the latest International Accounting Standards as its framework. It offers a unique balance of theoretical and conceptual coverage with up-to-date practical applications and illustrations taken from real world international company reports and accounts. The text is ideal for any undergraduate student doing a second level course in financial accounting or on an MBA and MSC course.

Table of Contents

PART ONE: REGULATORY FRAMEWORK - AN ATTEMPT TO ACHIEVE UNIFORMITY 1. Financial Reporting: evolution of international standards 2. Conceptual framework 3. Published accounts of companies 4. Preparation of published accounts PART TWO: BALANCE SHEET - EQUITY, LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE 5. Share capital, distributable profits and reduction of capital 6. Off balance sheet finance 7. Financial Instruments 8. Employee Benefits 9. Taxation in company accounts 10. Property, Plant and Equipment (PPE) 11. Leasing 12. R & D; goodwill and intangible assets; brands 13. Inventories 14. Construction contracts PART THREE - CONSOLIDATED ACCOUNTS 15. Accounting for groups at the date of acquisition 16. Preparation on consolidated balance sheets after the date of acquisition 17. Preparation of consolidated income statements 18. Accounting for associated companies 19. Accounting for the effects of changes in foreign exchange rates under IAS 21 PART FOUR: INTERPRETATION 20. Earnings per share 21. Cash flow statements 22. Review of financial ratio analysis 23. Trend analysis and multivariate analysis 24. An Introduction to Financial Reporting on the Internet PART FIVE: ACCOUNTABILITY 25. Corporate governance 26. Environmental and social reporting 27. Ethics for accountants Appendix: Outline solutions to selected exercises Index