How does Fishpond Work?

Sell Your Old Stuff for Cash. It's Easy & Free to List. Get Started Now.

Australian Accounting Standards
By

Rating
New or Used: $209.00
Australian Accounting Standards is an exciting new textbook that presents a thorough introduction to various Australian equivalents of the International Financial Reporting Standards. With the inception of the IFRS on 1 January 2005, the Australian accounting standards have also experienced extensive change and revision in the quest to align and harmonise with IFRS. The focus of this text is on the interpretation, analysis, illustration and application of the scope and purpose of various Australian accounting standards. Each chapter contains numerous illustrative examples to ensure that the student gains a deep understanding of all the reporting requirements under the respective accounting standard to meet the expectations of the profession. This textbook has been written for intermediate and advance financial reporting courses, at both undergraduate and postgraduate level. The text covers the following Australian accounting standards: Framework AASB 2 Share based payments AASB 3 Business combinations AASB 5 Non-current assets AASB 101 Presentation of financial statements AASB 102 Inventories AASB 107 Cash flow statements AASB 108 Accounting policies AASB 110 Events after balance day AASB 112 Income taxes AASB 114 Segment reporting AASB 116 Property, plant and equipment AASB 117 Leases AASB 121 Changes in foreign exchange rates AASB 127 Consolidated and separate financial statements AASB 128 Investments in associates AASB 131 Interests in joint ventures AASB 132 Financial instruments; disclosure and presentation AASB 136 Impairment of assets AASB 137 Provisions, contingent liabilities and contingent assets AASB 138 Intangible assets AASB 139 Financial instruments; recognition & measurement FEATURES * Detailed analysis of AASB standards and the underpinning conceptual framework* Step-by-step analysis of selected AASB standards and the relevant scope, objectives and reporting requirements* Chapter outlines of the relevant issues and practical workings associated with the selected AASB standards* Illustrative examples positioned throughout the chapters, where relevant, to show the new financial reporting procedures and further development conceptual understanding of the new processes.* Inclusion of extracts of international companies illustrate how real companies are reporting financial data in accordance with the AASB standards* Graded end-of-chapter exercises and problems provide students with numerous opportunities to test their understanding of the financial reporting requirements under the relevant AASB standards. For the lecturer: a comprehensive solutions manual provides guidance on the correct procedures for working through the activities. About the Authors Ruth Picker B.A., F.C.A., FSIA, FCPA, is currently Ernst & Young's Professional Practice Director ("PPD") for the Oceania Region. She is a member of Ernst & Young's Global PPD group, which sets global accounting and auditing standards and policies. She is also a member of Ernst & Young's Global IFRS Policy Committee, which determines Ernst & Young's global interpretations of IFRS. She is a frequent speaker and author on accounting and auditing issues. Her written articles have been published in a number of accounting journals. She is a member of the Editorial Board of "The Australian Accounting Review". Ruth was a Member of the Urgent Issues Group (UIG) for 3 years. Subsequent to that, Ruth was appointed to the Australian Accounting Standards Board ("AASB") in April 2000. In 2002 she was elected as Deputy Chairman of the AASB, a position she currently holds. From 8 May 2003 until 15 November 2003 she was appointed Acting Chairman of the AASB. Ken Leo BCom (Hons), MBA (Qld), AAUQ, ACA, FCPA is Professor of Accounting at Curtin University of Technology, Western Australia. During his 30 years as an academic, he has taught company accounting to undergraduate and postgraduate students, been a founding member of the Urgent Issues Group, and involved in writing books and monographs for a variety of organisations including CPA Australia, Group of 100 and the Australian Accounting Research Foundation. He has served on the AASB since 2002. Keith Alfredson BCom (Hons), AAUQ, FAICD, FCA, FCPA, FNIA is a graduate of the University of Queensland. On graduation in 1963 he joined Arthur Andersen, becoming a partner in 1974 and retiring in 1997. He specialised in the audit of large publicly listed and privately owned entities in addition to acting as an expert on technical accounting issues. He was Arthur Andersen's representative on the Australian Urgent Issues Group. In 1998 he became a Senior Fellow in the Department of Accounting of The University of Melbourne. In May 2000 he was appointed the first full-time Chairman of the Australian Accounting Standards Board, a position he held until May 2003. During that period he also acted as Chairman of the Urgent Issues Group. Jennie Radford, BCom, DipEd (Melb), MCom (Curtin), ACA, is currently a Lecturer at Curtin University of Technology. She has co-authored two research monographs published by Group of 100 and the ASCPA. She has also contributed to and co-edited a textbook 'Financial Accounting Issues'. She was for many years employed as an auditor with "Big 5' chartered accounting firms. Jennie has taught undergraduate and postgraduate courses in her career as an academic. She is a member of the Western Australia Cell of the External Reporting Centre of Excellence (ASCPA). Paul Pacter holds two concurrent positions as the Director of Standards for Small and Medium-Sized Entities (SMEs) at the International Accounting Standards Board in London, and Director in the Global IFRS Office of Deloitte Touche Tohmatsu in Hong Kong. Previously, Paul worked for the U.S. Financial Accounting Standards Board for 16 years, and, for seven years, was Commissioner of Finance of the City of Stamford, Connecticut. He received his Ph.D. from Michigan State University and is a CPA. He has taught in several MBA programmes for working business managers. Victoria Wise BCom., M.Econ., PhD., FCPA., is an Associate Professor in the School of Accounting and Finance at Victoria University, Melbourne. During her twenty years as an academic she has taught financial accounting to undergraduate and postgraduate students. Victoria has over 110 publications including books and book chapters, refereed and professional journal articles and conference proceedings. Her journal articles focus on international financial reporting standards, public sector, consolidated and small business financial reporting. Her current research interests are in business regulation and financial literacy.
Product Details

Table of Contents

PART 1 FRAMEWORK Chapter 1: History, current regulatory structures and processes Introduction Accounting standards in Australia pre-2000 Accounting standards in Australia: institutional arrangements post-2000 International Accounting Standards Board Adopting International Financial Reporting Standards in Australia Differences between A-IFRSs and IFRSs Events affecting A-IFRSs post 2004 Chapter 2: The conceptual framework of the AASB Introduction Purpose and status of the framework General purpose financial statements Users and their information needs Reporting entities The objective of financial statements Underlying assumptions Qualitative characteristics of financial statements The elements of financial statements Recognition of the elements of financial statements Measurement of the elements of financial statements PART 2 ELEMENTS Chapter 3: Shareholder's equity: share capital and reserves Shareholders' equity Types of companies Key features of the corporate structure Contributed equity: issue of share capital Contributed equity: subsequent movements in share capital Share capital: subsequent decreases in share capital Reserves Disclosure Chapter 4: Provisions, contingent liabilities and contingent assets Introduction to AASB 137 Definition of a provision Distinguishing provisions from other liabilities Definition of a contingent liability Distinguishing a contingent liability from a provision The recognition criteria for provisions Putting it all together - a useful decision tree Measurement of provisions Application of the definitions, recognition and measurement rules Contingent assets Disclosure Chapter 5: Financial instruments Introduction to AASB 132 and AASB 139 AASB 132 Financial Instruments: Disclosure and Presentation AASB 139 Financial Instruments: Recognition and Measurement Chapter 6: Income tax The Nature of income tax Differences between accounting profit and taxable profit Accounting for income taxes Calculation of current tax Recognition of current tax Payment of tax Tax Losses Calculation of deferred tax Recognition of deferred tax liabilities and deferred tax assets Change of tax rates Amended prior year tax figures Presentation in the financial statements Disclosures Chapter 7 Inventories The nature of inventories Initial recognition of inventory Determination of cost Accounting for inventory End-of-period accounting Assigning costs to inventory Net realisable value Recognition as an expense Disclosure Chapter 8: Property, plant and equipment The nature of property, plant and equipment Initial recognition of property, plant and equipment Initial measurement of property, plant and equipment Measurement subsequent to initial recognition The cost model The revaluation model Choosing between the cost model and the revaluation model Derecognition Disclosure Chapter 9: Intangibles assets The nature of intangible assets Recognition and initial measurement Measurement subsequent to initial recognition Retirements and disposals Disclosure Innovative measures of intangibles Chapter 10: Business combinations The nature of a business combination Accounting for a business combination - basic principles Accounting in the records of the acquirer Accounting in the records of the acquiree Subsequent adjustments to the initial accounting for a business combination Disclosure - business combinations Business combination (Phase II) considerations Non-current assets held for sale and discontinued operations Chapter 11: Impairment of assets Introduction to AASB 136 When to undertake an impairment test Impairment test for an individual asset Cash-generating units-excluding goodwill Cash-generating units and goodwill Reversal of an impairment loss Disclosure Chapter 12: Leases Leases What is a lease? Classification of leases Applying the classification guidance Substance over form: incentives to misclassify leases Accounting for finance leases by lessees Accounting for finance leases by lessors Accounting for operating leases Accounting for sale and leaseback transactions Likely future developments PART 3 DISCLOSURE Chapter 13 Principles of disclosure Introduction to AASB 101, AASB 108 and AASB 110 AASB 101 Presentation of Financial Statements AASB 108 Accounting Policies, Changes in Accounting Estimates, and Errors AASB 110 Events after the Balance Sheet date Chapter 14: Presentation of financial statements Presentation of financial statements Scope Balance sheet Income statement Statement of changes in equity Cash flow statement Notes Chapter 15 Cash flow statements Introduction to AASB 1007 Scope of AASB 107 Objectives of a cash flow statement Defining cash and cash equivalents Classifying cash flow activities Format of cash flow statement Preparing a cash flow statement Other disclosures Comprehensive example Extracts from financial reports PART 4 ECONOMICS ENTITIES Chapter 16: Controlled entities - the consolidation method Introduction Forms of controlled entities Applying the consolidation method Control as the criterion of consolidation Presentation of consolidated financial statements Parent entities and identification of an acquirer-reverse acquisitions Concepts of consolidation Format of consolidated financial statements Chapter 17: Consolidated financial statements - wholly owned subsidiaries The consolidation process Consolidation worksheets The acquisition analysis Worksheet entries at the acquisition date Worksheet entries subsequent to the acquisition date Comprehensive example Revelations in the records of the subsidiary at acquisition date Disclosure Reserve acquisitions Chapter 18: Consolidated financial statements - intragroup transactions Introduction Rationale for adjusting for intragroup transactions Transfers of inventory Transfers of non-current assets Comprehensive example: intragroup transfers of assets Intragroup services Realisation of profits or losses Intragroup dividends from post-acquisition equity Intragroup borrowings Chapter 19: Consolidated financial statements - minority interest Introduction Effects of an MI on the consolidation process Calculation of the MI share of equity MI share of recorded equity of the subsidiary Adjusting for the effects of intragroup transactions Excess on acquisition Chapter 20: Consolidated financial statements - indirect ownership interests Introduction Direct and indirect minority interest (MI) Sequential acquisitions Non-sequential acquisitions Reciprocal ownership Chapter 21: Consolidated financial statements - foreign subsidiaries Translation of foreign subsidiary's statements Functional and presentation currencies The rationale underlying the functional currency choice Identifying the functional currency Translation into the functional currency Changing the functional currency Translation into the presentation currency Consolidating foreign subsidiaries - where local currency is the functional currency Consolidating foreign subsidiaries - where functional currency is that of the parent entity Net investment in a foreign operation Disclosure Chapter 22: Accounting for investments in associates Accounting for equity investments in other entities Identifying associates Application - consolidated or separate financial statements Application of the equity method of accounting Disclosure Comprehensive example Chapter 23: Interests in joint ventures Investments in other entities The nature of a joint venture Accounting for jointly controlled operations Accounting for jointly controlled assets Accounting by an unincorporated joint venture that is sharing output Accounting by a venturer in an unincorporated joint venture that is sharing output Accounting by a venturer in a jointly controlled entity that is sharing profit Equity method versus proportionate consolidation Disclosures required by AASB 131 Chapter 24: Segment reporting Introduction to AASB 114 Scope Objectives of financial reporting by segments Business and geographical segments Primary and secondary segment reporting formats Identifying an entity's reportable segments Segment accounting policies Disclosures Chapter 25: Share-based payments Introduction to AASB 2 Share-based payments Recognition Equity-settled share-based payment transaction Cash-settled share-based payment transaction Share-based payment transactions with cash alternatives Disclosures

Look for similar items by category
How Fishpond Works
Fishpond works with suppliers all over the world to bring you a huge selection of products, really great prices, and delivery included on over 25 million products that we sell. We do our best every day to make Fishpond an awesome place for customers to shop and get what they want — all at the best prices online.
Webmasters, Bloggers & Website Owners
You can earn a 5% commission by selling Australian Accounting Standards on your website. It's easy to get started - we will give you example code. After you're set-up, your website can earn you money while you work, play or even sleep! You should start right now!
Authors / Publishers
Are you the Author or Publisher of a book? Or the manufacturer of one of the millions of products that we sell. You can improve sales and grow your revenue by submitting additional information on this title. The better the information we have about a product, the more we will sell!
Back to top