Financial reporting: the theoretical and regulatory framework
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
London u.a.
Chapman and Hall
1990
|
| Ausgabe: | 2. ed. |
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002765749&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | XIV, 464 S. |
| ISBN: | 0412357909 |
Internformat
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Datensatz im Suchindex
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|---|---|
| adam_text | Contents
Preface xiii
Abbreviations xv
PART ONE: THE CONCEPTUAL FRAMEWORK
1 Accounting theory, or Accounting can be interesting 3
Introduction 3
An analogy all about sausages 4
The focus of this book 6
Exercises 7
2 Some basic ideas 9
Introduction 9
Wealth 10
Wealth (again) 18
Exercises 21
3 Income concepts a more formal consideration 22
Economic income 22
Current value accounting 30
Capital maintenance 39
Accounting for changes in the purchasing power of money 43
Current cost accounting 51
Advantages and disadvantages 58
Exercises 61
4 The objectives of financial statements and their usefulness to the 64
general user groups
Introduction 64
The Corporate Report 64
The user groups 65
Summary of user needs 69
Characteristics of useful information 70
The need for communication 72
Conclusion 73
Exercises 74
vi Contents
5 Traditional accounting conventions 75
Introduction 75
The framework conventions 75
The practical conventions 79
A coherent framework 81
Exercises 84
6 The recognition of revenue 85
The problem illustrated 85
The problem considered 86
The compromise solution 88
Dropping the HC convention 89
Holding gains and realization 90
Exercises 91
7 Towards a general framework? 93
Introduction 93
The elements of accounting 94
The balance sheet 94
Profit and loss 97
A conceptual framework for the 1990s? 98
The IASC framework 100
Conclusions 116
Exercises 117
8 A critical review of the theoretical framework 119
Introduction g
The crunch questions! 119
Some empirical evidence 120
Exercise 121
9 Some possible extensions to the accounting framework 122
Introduction 122
Statement of source and application of funds (SSAP 10) 122
Cash flow accounting and cash flow statements 125
Statements recommended by The Corporate Report 130
Social accounting 137
Disaggregation or segmental reporting 138
More (or less) information? 145
Exercises 145
Further reading for Part One J4g
Contents vii
PART TWO: THE LEGAL FRAMEWORK
10 Limited liability 153
Introduction 153
Limited liability 153
The principle established 155
Conclusions and comments 156
Exercises 158
11 Sanctity of capital 159
The interim accounting problem 159
The legal response 160
Restrictions affecting capital 162
Exercise 161
12 Divisible profits 164
The case law background 164
The Companies Act 1985 165
Distributable profits 168
Exercises 170
13 The Companies Act 1985 and published accounts 175
The true and fair view 175
The Continental influence 177
The specified formats 180
Other Companies Act requirements 186
Directors report 188
Notes to the accounts (Schedule 4, Part III, 1985 Act) 189
The Companies Act 1989 190
Exercises 191
14 Accounts of non company organizations 192
Introduction 192
Partnerships 192
Other types of organization 196
Exercises 197
15 Stock Exchange requirements 198
Introduction 198
Directors report 198
Iterim report 198
Exercise 199
Further reading for Part Two 200
viii Contents
PART THREE: THE REGULATORY FRAMEWORK
16 The accounting standard setting process 203
SSAPs and SORPs 205
17 Disclosure of accounting policies (SSAP 2) 210
Introduction 210
Fundamental accounting concepts 211
Accounting bases 212
Accounting policies 213
The Companies Act 1985 213
International Accounting Standard 214
Conclusion 215
Exercises 215
18 The determination of earnings per share (SSAPs 3,6, 8 and 5) 217
Introduction and definition 217
The tax problem 218
The number of shares problem 220
Diluted earnings per share 223
Extraordinary items and prior year adjustments 225
Revaluation of assets 233
The Companies Act 1985 235
An illustration 235
Taxation 237
Exercises 239
19 Accounting for post balance sheet events (SSAP 17) and 243
contingencies (SSAP 18)
Introduction 243
Post balance sheet events (SSAP 17) 243
Accounting for contingencies (SSAP 18) 247
Exercises 251
20 Stocks and work in progress 253
Introduction 253
Stocks and work in progress 253
Stock cost assumptions 255
The SSAP requirements 260
The Companies Act 1985 261
Long term contract work in progress 263
The Companies Act and long term contracts 268
Long term contracts an illustration 269
Exercises 274
Contents ix
21 Fixed assets 276
Introduction 276
Depreciation 276
Methods of calculating depreciation 278
Some misconceptions underlined 282
Government grants (SSAP 4) 282
Government grants and ED 43 285
The requirements of SSAP 12 289
The Companies Act 1985 297
Accounting for investment properties (SSAP 19) 299
Fixed assets the recent problems 301
Conclusions 305
Exercises 305
22 Accounting for research and development 307
The problem 307
The SSAP s proposals 308
Disclosure requirements 312
The Companies Act 1985 313
Appraisal 313
Oil and gas exploration costs 314
Exercises 314
23 Substance over form 316
Scope of the chapter 316
Accounting for special purpose transactions (ED 42) 316
ED 42 and proposed standard practice 318
Deep discounted bonds 321
Disclosure of related party transactions (ED 46) 322
The future of substance over form 327
Exercises 327
24 Accounting for goodwill (SSAP 22) 330
What is goodwill? 330
Purchased goodwill and inherent goodwill 331
Accounting for goodwill 332
The required standard practice 336
The Companies Act 1985 and goodwill 337
Effect on realized and unrealized reserves 338
ED 44 339
Exercises 340
25 Accounting for leases and hire purchase contracts (SSAP 21) 344
Introduction to the issues 344
SSAP 21 some basic definitions 347
x Contents
The lessee s books 349
The lessor s books 354
HP contracts 357
Disclosure of information 358
Benefits of SSAP 21 360
Exercises 360
26 Deferred tax (SSAP 15) 362
Introduction 362
The argument for deferred tax 363
An argument against deferred tax 366
Parliament changes the rules 369
The accountant s response 371
The ASC position (SSAP 15: revised) 373
A critical appraisal of the ASC s approach 376
The Companies Act 1985 380
Exercises 381
27 Group accounts and associated companies (SSAPs 1,14 and 23) 383
Introduction 383
Definition of a subsidiary 384
Goodwill (premium) on acquisition 386
Discount on acquisition 388
Form of and need for group accounts 389
Pre acquisition profits and acquisition accounting 394
Inter company trading and the elimination of unrealized profits 395
The reconciliation of inter company balances 398
The regulations governing the presentation of group accounts 399
Accounting for the results of associated companies (SSAP 1) 405
Merger accounting 411
The Companies Act 1989 419
Exercises 420
28 Foreign currency translation (SSAP 20) 423
Introduction 423
Translation 424
SSAP 20 428
Consolidated financial statements 430
Differences on translation 436
Realized profits 439
Disclosure requirements 440
The Companies Act 1985 440
Conclusion 441
Exercises 441
Contents xi
29 Pension costs (SSAP 24) 443
Introduction 443
The major problems 444
The accounting objective explored 448
Scope and disclosure requirements 451
Companies Act requirements 453
Pension scheme accounts 453
Conclusions 456
Exercises 456
30 Financial reporting where next? 457
Exercises 459
Further reading for Part Three 461
Index 463
|
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| id | DE-604.BV004461661 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-20T08:18:34Z |
| institution | BVB |
| isbn | 0412357909 |
| language | English |
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| physical | XIV, 464 S. |
| publishDate | 1990 |
| publishDateSearch | 1990 |
| publishDateSort | 1990 |
| publisher | Chapman and Hall |
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| spellingShingle | Alexander, David 1947- Financial reporting the theoretical and regulatory framework Finanzcontrolling (DE-588)4130607-7 gnd Rechnungswesen (DE-588)4048732-5 gnd |
| subject_GND | (DE-588)4130607-7 (DE-588)4048732-5 (DE-588)4022153-2 |
| title | Financial reporting the theoretical and regulatory framework |
| title_auth | Financial reporting the theoretical and regulatory framework |
| title_exact_search | Financial reporting the theoretical and regulatory framework |
| title_full | Financial reporting the theoretical and regulatory framework David Alexander |
| title_fullStr | Financial reporting the theoretical and regulatory framework David Alexander |
| title_full_unstemmed | Financial reporting the theoretical and regulatory framework David Alexander |
| title_short | Financial reporting |
| title_sort | financial reporting the theoretical and regulatory framework |
| title_sub | the theoretical and regulatory framework |
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| topic_facet | Finanzcontrolling Rechnungswesen Großbritannien |
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