The second edition of Financial Reporting has been updated for recent developments in the Australian Accounting Standards, including the release of new standards on accounting for revenue and leases and updates to AASB 9 Financial Instruments. All incorporated updates are in line with developments in the International Financial Reporting Standards (IFRSs). The new edition has been written in accordance with the requirements of the relevant pronouncement(s) in the IFRS Red Book 2016 published by the IASB, which includes the most recent version of each Accounting Standard and Interpretation at 13 January 2016.
A hallmark feature of the text is that it provides both a conceptual understanding and a practical application of the accounting standards. For students, an understanding of the conceptual basis of accounting and the rationale behind the principles is crucial to the consistent application of standards in a variety of practical contexts.
Table of Contents
Chapter 1 Accounting regulation and the conceptual framework
Chapter 2 Application of accounting theory
Chapter 3 Fair value measurement
Chapter 4 Inventories
Chapter 5 Property, plant and equipment
Chapter 6 Intangible assets
Chapter 7 Impairment of assets
Chapter 8 Provisions, contingent liabilities and contingent assets
Chapter 9 Employee benefits
Chapter 10 Leases
Chapter 11 Financial instruments
Chapter 12 Income taxes
Chapter 13 Share capital and reserves
Chapter 14 Share-based payment
Chapter 15 Revenue
Chapter 16 Presentation of financial statements
Chapter 17 Statement of cash flows
Chapter 18 Accounting policies and other disclosures
Chapter 19 Earnings per share
Chapter 20 Operating segments
Chapter 21 Related party disclosures
Chapter 22 Sustainability and corporate social responsibility reporting
Chapter 23 Foreign currency transactions and forward exchange contracts
Chapter 24 Translation of foreign currency financial statements
Chapter 25 Business combinations
Chapter 26 Consolidation: controlled entities
Chapter 27 Consolidation: wholly owned entities
Chapter 28 Consolidation: intragroup transactions
Chapter 29 Consolidation: non-controlling interest
Chapter 30 Consolidation: other issues
Chapter 31 Associates and joint ventures
Chapter 32 Joint arrangements
Chapter 33 Insolvency and liquidation
Chapter 34 Accounting for mineral resources
Chapter 35 Agriculture
