Book Summary of Global Financial Reporting and Analysis This edition is designed to meet the rapidly emerging demand for coverage of new international financial reporting standards (IFRS) and the globalization of accounting in advanced courses. The book is based on an IASB framework but the European directives, especially as regards detailed formats having no direct equivalent in IFRS, are discussed in detail. The European context and, in the case of important markets, the national context is recognized and contrasted with the international approach. Important non-European influences, especially those from the US, are included in order to provide a genuinely wide-ranging appreciation of the implications of accounting internationalism. Key Feature • Experienced author team with international accounting teaching experience • Conceptually based rather than mechanistic approach • Based on international accounting standards within a European context, the text is one of the first to address the needs of a changing market as courses based on domestic reporting standards change to IFRS • Chapter 2 on International Accounting Differences will now include coverage of SMEs • Much greater coverage of fair value in the theory section of the book (Part 1), mainly chapters 4 through to 7 • Chapter 3 will now includes coverage of political processes in harmonization Table of Contents Part I: Framework, Theory and Regulation 1. Basics of Financial Reporting 2. International Accounting Differences 3. The Process of Harmonization 4. Economic Valuation Concepts 5. Current Entry Value 6. Current Exit Value and Mixed Values 7. Current Purchasing Power Accounting 8. Accounting Theory and Conceptual Frameworks 9. Structure of Published Financial Statements 10. Basics of Interpretation of Financial Statements 11. Additional Disclosure Statements Part II: Annual financial statements 12. Fixed (non-current) Tangible Assets 13. Intangible Assets 14. Impairment and Disposal of Assets 15. Leases 16. Inventories and Construction Contracts 17. Accounting for Financial Instruments 18. Revenue 19. Provisions:contingent liabilities and contingent assets 20. Income Taxes 21. Employee Benefits 22. Changing Prices and Hyperinflationary Economies 23. Cash Flow Statements 24. Presentation Issues Part III: Consolidated Accounts and The Multinational 25. Consolidated Financial Statements 26. Foreign Currency Translation Part IV: Financial analysis 27. Interpretation of Financial Statements 28. Techniques of Financial Analysis Index