Jerry J. Weygandt, Paul D. Kimmel

Financial Accounting with International Financial Reporting Standards

• Broschiertes Buch

Produktbeschreibung

An essential and intuitive treatment of financial accounting with an international perspective

The use of International Financial Reporting Standards is growing rapidly, both outside of the United States and within, especially as IFRS incorporates more US GAAP rules. In the newly updated fifth edition of Financial Accounting with International Financial Reporting Standards, a team of accomplished financial practitioners and educators delivers the newest version of their highly anticipated text. This important work offers practical end-of-chapter exercises and practice problems complete with foreign currency examples, as well as an emphasis on non-US companies and examples. It is perfect for accounting students seeking exposure to internationally utilized accounting standards.

Produktdetails

• Verlag: Wiley / Wiley & Sons
• Artikelnr. des Verlages: 1W119787050
• 5. Aufl.
• Seitenzahl: 912
• Englisch
• Abmessung: 265mm x 220mm x 276mm
• Gewicht: 1896g
• ISBN-13: 9781119787051
• Artikelnr.: 64138085

Inhaltsangabe

1 Accounting in Action 1-1

Knowing the Numbers 1-1

1.1 Accounting Activities and Users 1-3

Who Uses Accounting Data 1-4

Data Analytics 1-5

1.2 The Building Blocks of Accounting 1-7

Ethics in Financial Reporting 1-7

Accounting Standards 1-8

Measurement Principles 1-9

Assumptions 1-9

1.3 The Accounting Equation 1-12

Assets 1-12

Liabilities 1-13

Equity 1-13

1.4 Analyzing Business Transactions 1-14

Accounting Transactions 1-15

Transaction Analysis 1-16

Summary of Transactions 1-21

1.5 Financial Statements 1-22

Income Statement 1-24

Retained Earnings Statement 1-24

Statement of Financial Position 1-24

Statement of Cash Flows 1-25

Comprehensive Income Statement 1-25

Appendix 1A: Career Opportunities in Accounting 1-27

Public Accounting 1-27

Private Accounting 1-28

Governmental Accounting 1-28

Forensic Accounting 1-28

A Look at U.S. GAAP 1-48

2 The Recording Process 2-1

Accidents Happen: Bank of Taiwan 2-1

2.1 Accounts, Debits, and Credits 2-2

The Account 2-2

Debits and Credits 2-3

Equity Relationships 2-7

Summary of Debit/Credit Rules 2-7

2.2 The Journal 2-8

The Recording Process 2-8

The Journal 2-9

2.3 The Ledger and Posting 2-11

The Ledger 2-11

Posting 2-13

Chart of Accounts 2-14

The Recording Process Illustrated 2-14

Summary Illustration of Journalizing and Posting 2-20

2.4 The Trial Balance 2-22

Limitations of a Trial Balance 2-23

Locating Errors 2-23

Currency Signs and Underlining 2-23

A Look at U.S. GAAP 2-47

3 Adjusting the Accounts 3-1

What Was Your Profit? 3-1

3.1 Accrual-Basis Accounting and Adjusting Entries 3-2

Fiscal and Calendar Years 3-3

Accrual- versus Cash-Basis Accounting 3-3

Recognizing Revenues and Expenses 3-3

The Need for Adjusting Entries 3-6

Types of Adjusting Entries 3-6

3.2 Adjusting Entries for Deferrals 3-7

Prepaid Expenses 3-7

Unearned Revenues 3-11

3.3 Adjusting Entries for Accruals 3-14

Accrued Revenues 3-14

Accrued Expenses 3-16

Summary of Basic Relationships 3-19

3.4 Adjusted Trial Balance and Financial Statements 3-22

Preparing the Adjusted Trial Balance 3-23

Preparing Financial Statements 3-23

Appendix 3A: Alternative Treatment of Deferrals 3-26

Prepaid Expenses 3-27

Unearned Revenues 3-28

Summary of Additional Adjustment Relationships 3-29

Appendix 3B: Financial Reporting Concepts 3-30

Qualities of Useful Information 3-30

Assumptions in Financial Reporting 3-31

Principles in Financial Reporting 3-31

Cost Constraint 3-32

A Look at U.S. GAAP 3-58

4 Completing the Accounting Cycle 4-1

Speaking the Same Language: IASB 4-1

4.1 The Worksheet 4-3

Steps in Preparing a Worksheet 4-3

Preparing Financial Statements from a Worksheet 4-11

Preparing Adjusting Entries from a Worksheet 4-12

4.2 Closing the Books 4-13

Preparing Closing Entries 4-13

Posting Closing Entries 4-15

Preparing a Post-Closing Trial Balance 4-17

4.3 The Accounting Cycle and Correcting Entries 4-20
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