Bruce Pounder

Convergence Guidebook for Corporate Financial Reporting (eBook, ePUB)

• Format: ePub

Produktbeschreibung

As a result of the global convergence of financial reporting standards, U.S. GAAP is changing profoundly. U.S. GAAP is also being abandoned by many public and private companies, and will eventually be replaced by a higher-quality set of global standards. The Convergence Guidebook for Corporate Financial Reporting provides the timely, practical guidance that CFOs, controllers, and other financial managers need in order to prepare for the impact of Convergence on their companies, departments, and careers. Guidebook readers will also learn why they must begin preparing for "e;the next big challenge in corporate financial reporting"e; now.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 256
• Erscheinungstermin: 9. März 2009
• Englisch
• ISBN-13: 9780470464205
• Artikelnr.: 37292578

Autorenporträt

Bruce Pounder, MBA, CMA, CFM, DipIFR (ACCA), is an expert on the global Convergence of financial reporting standards. He has two decades of firsthand financial reporting experience as the CFO of a privately held corporation and has served as a financial reporting consultant to many public corporations. Currently he is the President of the professional services firm Leveraged Logic and the host of the webcast series "This Week in Accounting."

Inhaltsangabe

Acknowledgments. Preface. Part I. Phenomenon of Convergence. Chapter 1.
Introduction to the Convergence of Financial Reporting Standards. Financial
Reporting Supply Chain. Role of Standards in the Financial Reporting Supply
Chain. Financial Reporting Standards. How Financial Reporting Standards
Differ among Countries. What Convergence Is-and Is Not. What Is Causing
Convergence? Conclusion. Notes. Chapter 2. How Convergence Will Impact the
United States. Direct Effects of Convergence. Indirect Effects of
Convergence. Who Wins? Who Loses? Conclusion. Notes. Chapter 3. Prepare for
the Impact of Convergence Now. What's the Rush? Adverse Consequences of
Waiting to Prepare. Impeding Factors. Conclusion. Part I. Epilogue. Note.
Part II. Impact of Convergence on Financial Reporting in the United States.
Chapter 4. Conceptual Frameworks. Comparison of Conceptual Frameworks.
FASB-IASB Joint Conceptual Framework Project. Conclusion. Notes. Chapter 5.
Principles-Based Standards. Principles versus Rules. U.S. GAAP versus IFRS:
Where Are We Now? "Principles Alone" versus "Principles Plus Rules".
Outlook for Converged Standards. Conclusion. Notes. Chapter 6. Different
Standards for Different Companies? Background. Differential Standards:
Three Questions. How Convergence Is Fostering Differential Standards.
Conclusion. Notes. Chapter 7. Financial Statements: A First Look.
References to Standards. Principal Financial Statements. Conclusion. Notes.
Chapter 8. Fair Value and Related Measurement Issues. Background on
Measurement. Focus on Current Exit Price. Current Exit Price and Fair
Value. Fair Value: Not One Measurement, But Many. Additional Opposition to
Fair Value. Outlook for Improvement and Convergence. Conclusion. Appendix.
Summary of Recent Developments in Measurement Standards and Other Guidance.
Notes. Chapter 9. Major Asset Classes. Inventory. Property, Plant, and
Equipment. Intangibles. Conclusion. Notes. Chapter 10. Other Balance Sheet
Items. Leases. Pensions and Other Postretirement Benefit Obligations.
Deferred Income Tax Effects. Conclusion. Notes. Chapter 11. Reporting
Financial Performance. Revenue Recognition and Measurement. Income
Statement. Cash Flow. Conclusion. Notes. Chapter 12. Business Combinations,
Intercompany Investments, and Segment Reporting. Business Combinations.
Intercompany Investments. Segment Reporting. Conclusion. Notes. Chapter 13.
Financial Statements: What Is Ahead. Financial Statement Presentation
Project. Other Financial Statement Issues. Conclusion. Part II Epilogue.
Notes. Part III. Impact of Convergence on U.S. Labor Markets. Chapter 14.
Overview of U.S. Labor Markets for Financial Reporting Talent. Geographic
Scope of Supply and Demand. Role of U.S. GAAP. Talent Supply Pipeline.
Conclusion. Chapter 15. Obsolescence of Knowledge, Skills, and Abilities.
Why Demand Will Change. Quantitative Changes in Demand. Qualitative Changes
in Demand. Short-Term Imbalances in Supply and Demand. Conclusion. Notes.
Chapter 16. Commoditization of Talent. Global Homogenization of Employers'
Demand. From Demand Homogenization to Supply Commoditization. Intermarket
Mobility of Employers. Conclusion. Chapter 17. Toward a Global Labor Market
for Financial Reporting Talent. Global Desegregation of Labor Markets.
Competition in the Global Labor Market. Conclusion. Notes. Chapter 18.
Transformation of the Talent Supply Pipeline. Overview of the U.S. Talent
Supply Pipeline. Educational Activities in the U.S. Talent Supply Pipeline.
Certification of KSAs. Interpipeline Competition. Conclusion. Notes. Part
III Epilogue. Part IV. Preparing for the Impact of Convergence. Chapter 19.
Overview of the Challenges of Convergence. Why Preparation Matters. Three
Challenges. Conclusion. Chapter 20. The Enterprise Challenge: Strategies
for Choosing Standards and Implementing Your Choice. Opportunity and
Obligation to Choose. Methodology for Choosing. Implementing Your Choice.
Conclusion. Appendix. Checklist for Impact Assessment. Chapter 21.
Departmental Challenge: Tactics for Managing Talent. Identifying Your
Department's Talent Needs. Assuring the Supply of Talent for Your
Department. Training and Development. Technical Supervision. Conclusion.
Note. Chapter 22. Personal Challenge: Career Choices for a Hypercompetitive
Labor Market. Hypercompetition in a Global Labor Market. Managing Your
Career. Conclusion. Notes. Part IV Epilogue. Index.

Rezensionen

"As he explains in his book, the Convergence Guidebook for Corporate Financial Reporting, both US GAAP and IFRS will change profoundly as the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board continue to converge the two sets of standards." (jobsinthemoney.com, May 2009)