Comparative International Accounting, 14th Edition

✍ Scribed by Christopher Nobes, Robert Parker

• Publisher: Pearson
• Year: 2020
• Tongue: English
• Leaves: 637
• Edition: 14
• Category: Library

✦ Synopsis

For undergraduate and postgraduate students taking courses in comparative and international aspects of financial reporting.

 

 

Learn the foundational concepts of international financial reporting

 

Comparative International Accounting, 14th Edition, by Nobes and Parker explores the conceptual and contextual foundations of International Financial Reporting Standards (IFRS), contrasting them with US generally accepted accounting principles (US GAAP). It also examines international differences in IFRS practices and the accounting differences that remain between countries such as China, France, Germany and Japan. Particular attention is paid to the key issues of political lobbying, harmonisation, and the special accounting problems of multinational companies. This book is thoroughly updated for the many changes in accounting and the relevant research published since the 13th edition.

 

 

Pearson, the world’s learning company.

✦ Table of Contents

Front Cover
Half Title Page
Title Page
Copyright Page
Brief contents
Contents
Contributors
Preface
Part I SETTING THE SCENE
1 Introduction
Contents
Objectives
1.1 Differences in financial reporting
1.2 The global environment of accounting
1.3 The nature and growth of MNEs
1.4 Comparative and international aspects of accounting
1.5 Structure of this book
Summary
References
Useful websites
Questions
2 Causes and examples of international differences
Contents
Objectives
2.1 Introduction
2.2 Culture
2.3 Legal systems
2.4 Providers of finance
2.5 Taxation
2.6 Other external influences
2.7 The profession
2.8 Conclusion on the causes of international differences
2.9 Two examples of international differences
Summary
References
Questions
3 International classification of financial reporting
Contents
Objectives
3.1 Introduction
3.2 The nature of classification
3.3 Classifications by social scientists
3.4 Classifications in accounting
3.5 Extrinsic classifications
3.6 Intrinsic classifications: 1970s and 1980s
3.7 Developments related to the Nobes classification
3.8 Further intrinsic classification
3.9 Is there an Anglo-Saxon group?
3.10 Classification in an IFRS world
3.11 A synthesis of accounting classifications
Summary
References
Questions
4 International harmonisation
Contents
Objectives
4.1 Introduction
4.2 Reasons for, obstacles to and measurement of harmonisation
4.3 The International Accounting Standards Committee
4.4 Other international bodies
4.5 The International Accounting Standards Board
4.6 International harmonisation of public sector reporting
Summary
References
Useful websites
Questions
Part II FINANCIAL REPORTING BY LISTED GROUPS USING IFRS OR US GAAP
5 The background to financial reporting by listed groups
Contents
Objectives
5.1 Introduction
5.2 The legal and political context of international standards
5.3 Adoption of, and convergence with, IFRS
5.4 IFRS in the EU
5.5 IFRS/US differences
5.6 Convergence of IFRS and US GAAP
5.7 International financial analysis
Summary
References
Useful websites
Questions
6 IFRS in context: concepts, presentation and revenue
Contents
Objectives
6.1 Introduction
6.2 The conceptual framework
6.3 IFRS requirements on presentation and accounting policies
6.4 Revenue and foreign currency transactions
6.5 Disclosures, and management commentary
Summary
References
Further reading
Useful websites
Questions
7 IFRS in context: assets and liabilities
Contents
Objectives
7.1 Introduction
7.2 Overview of accounting for tangible non-current assets
7.3 Lease accounting
7.4 Recognition of intangible assets
7.5 Measurement of non-current assets
7.6 Inventories
7.7 Financial instruments
7.8 Provisions
7.9 Employee benefits
7.10 Deferred tax
7.11 Synthesis on measurement of liabilities
Summary
References
Questions
8 IFRS in context: group accounting
Contents
Objectives
8.1 Introduction
8.2 Rate of adoption of consolidation
8.3 International harmonisation from the 1970s onwards
8.4 Definitions of entities in which the group invests
8.5 Techniques of consolidation
8.6 Publication requirements and practices
Summary
References
Questions
9 Different versions of IFRS practice
Contents
Objectives
9.1 Introduction
9.2 Three aspects of the varied regulatory context of IFRS practice
9.3 Six types of scope for varied application of IFRS
9.4 Motivations for varied IFRS practice
9.5 Examples of varied IFRS practice
9.6 Changes in IFRS practice over time
9.7 Implications of the different versions of IFRS practice
Summary
References
Questions
10 Financial reporting in the United States
Contents
Objectives
10.1 Introduction
10.2 Regulatory framework
10.3 Accounting standard-setters
10.4 The conceptual framework
10.5 Contents of annual reports
10.6 Accounting principles
10.7 Consolidation
10.8 Synthesis of differences from IFRS
Summary
References
Further reading
Useful websites
Questions
11 Political lobbying on accounting standards: US, UK and international experience
Contents
Objectives
11.1 Introduction
11.2 Motivations for political lobbying
11.3 Political lobbying up to 1990
11.4 US political lobbying from 1990
11.5 Political lobbying of the IASC/IASB
11.6 Preparer attempts to control the accounting standard-setter
11.7 Political lobbying of the FASB’s convergence with the IASB
11.8 Some concluding remarks
Summary
References
Useful websites
Questions
Part III CHINA AND JAPAN
12 Financial reporting in China and Japan
Contents
Objectives
12.1 Introduction
12.2 Japan: regulatory issues
12.3 Japan: accounting practices
12.4 Japan: differences from IFRS
12.5 China: regulatory issues
12.6 China and IFRS
Summary
References
Useful websites
Questions
Appendix 12.1 ASBE Standards
Part IV FINANCIAL REPORTING BY INDIVIDUAL COMPANIES
13 The context of financial reporting by individual companies
Contents
Objectives
13.1 Introduction
13.2 Outline of differences between national rules and IFRS
13.3 The survival of national rules
13.4 Financial reporting, tax and dividend distribution
13.5 Special rules for private companies
13.6 Special rules for small companies
Summary
References
Useful websites
Questions
14 Harmonisation and transition in Europe
Contents
Objectives
14.1 Introduction
14.2 Harmonisation within the European Union
14.3 Transition in Central and Eastern Europe
Summary
References
Useful websites
Questions
15 Making accounting rules for unlisted business enterprises in Europe
Contents
Objectives
15.1 Introduction
15.2 Who makes the accounting rules?
15.3 Which business enterprises are subject to accounting rules?
Summary
References
Further reading
Useful websites for Chapters 15 and 16
Questions
Appendix 15.1 Contents of the Plan Comptable Général (relating to financial accounting and reporting)
Appendix 15.2 Financial accounting chart of accounts, Classes 1–7 in the Plan Comptable Général (ANC’s translation of 1999 chart, adjusted for changes in 2014)
16 Accounting rules and practices of individual companies in Europe
Contents
Objectives
16.1 Introduction
16.2 France
16.3 Germany
16.4 United Kingdom
Summary
References
Further reading
Useful websites
Questions
Appendix 16.1 Formats for French financial statements (2016 Plan Comptable)
Appendix 16.2 Formats for German financial statements
Appendix 16.3 Formats for British financial statements
Part V SPECIAL ISSUES IN REPORTING BY MNEs
17 Foreign currency translation
Contents
Objectives
17.1 Introduction
17.2 Translation of transactions
17.3 Introduction to the translation of financial statements
17.4 The US initiative in the 1970s
17.5 The temporal method versus the current rate method
17.6 Current US GAAP
17.7 Current IFRS
17.8 Translation of income and expenses
17.9 Accounting for translation gains and losses
17.10 Research findings
17.11 An alternative to exchange rates?
Summary
References
Further reading
Questions
18 Segment reporting
Contents
Objectives
18.1 What is segment reporting?
18.2 Segment reporting regulations
18.3 Constraints on the benefits of segment reporting
18.4 Assessing the benefits of segment reporting
Summary
References
Questions
Part VI MONITORING AND ENFORCEMENT
19 International auditing
Contents
Objectives
19.1 Introduction
19.2 Reasons for the internationalisation of auditing
19.3 Promulgating international standards
19.4 The international audit process
Summary
References
Further reading
Useful websites
Questions
20 Enforcement of financial reporting standards
Contents
Objectives
20.1 Introduction
20.2 Modes of enforcement
20.3 United States
20.4 Europe
20.5 West Pacific rim
Summary
References
Useful websites
Questions
APPENDICES
A. Synoptic table of accounting differences in eight GAAPs, 2020
B. Glossary of abbreviations
C. Suggested outline answers to some of the end-of-chapter questions
Author index
Subject index
Back Cover