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Company Accounting, 7th Edition - This is an old edition, please perform a search for 8th edition by ISBN: 0470819731

by: Leo

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On-line Price: $130.95 (includes GST)

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Retail Price: $144.95

Publisher: John Wiley & Sons,15.11.07

Category: ACCOUNTING Level:

ISBN: 0470812575
ISBN13: 9780470812570

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PRESCRIBED TEXT FOR ACCT203 AT ACU-MACKILLOP, SEMESTER 2 2008

Description

Company Accounting 7th edition continues to be the authoritative textbook on corporate financial reporting. The new edition has been thoroughly updated to reflect the numerous and ongoing reforms as a result of Australia's adoption of IFRSs. The text succinctly documents recent adjustments by the IASB/AASB in respect to the presentation of financial statements, accounting for intangible assets, accounting for income tax and the new reporting recommendations for business combinations under Phase II.
The text provides students with a comprehensive and practical grounding in the practice and principles of company accounting, essential information on why and how company accounting entries and disclosures are made, and the process of business combination for a corporate group.

NEW TO THIS EDITION

New chapters on Corporate Governance, Leases and Equity Accounting.
Chapter 8 Business Combinations - outlines proposed changes to ASSB3 as a result of the Exposure Draft of Proposed Amendments to IFRS3.
Revised to accord with changes in AASB as a consequence of continuing reforms with IFRS.
More 'Learning Check' summaries in all chapters reiterate and summarise important concepts.
New 'Student Activity Section' in each chapter contains a summary, demonstration problems, discussion questions, case studies, graded exercises and problems.
Reorganised end-of-chapter sections contains more diverse activity scenarios for students in an attempt to develop a broader skill base.
FEATURES

'Learning Checks' support chapter learning objectives and summarise key knowledge for students. They appear throughout each chapter and are ideal for self-study purposes.
Thorough illustrative examples and demonstration problems with various examples supported with step-by-step narrations.
ABOUT THE AUTHORS
Ken Leo, B.Com (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.

John Hoggett, B.Com (Hons), B.Th., MFM (Qld), AAUQ, ACA, FCPA recently retired as senior lecturer at Curtin University of Technology, Western Australia. During his 30 years as an academic, he taught company accounting and accounting theory to undergraduate and postgraduate students. He has written books and monographs for a variety of organisations including CPA Australia and Group of 100 and been involved in accounting education with the Curriculum Council of Western Australia.

John Sweeting, BEc, MEc, PhD, CPA, CA is currently a Senior Lecturer in Accountancy at Queensland University of Technology. John's background includes a mixture of academic and business positions. He has taught at Swinburne University of Technology, the University of Central Queensland and has spent time with the National Companies and Securities Commission (now the Australian Securities and Investments Commission). John has also held positions with a large international chartered accounting firm and a large manufacturing/retailing company listed on the Australian Stock Exchange. John has written for professional journals, and his main area of research is external reporting and profit forecasts in prospectuses. In addition to running in-house courses for accounting firms, John has also conducted Professional Development courses for CPA Australia and The Institute of Chartered Accountants in Australia. John has also been actively involved in both the CPA Program and the CA Program.

Jennie Radford, BCom, DipEd (Melb), MCom (Curtin), ACA, recently retired from the School of Accounting 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. Whilst at Curtin Jennie taught undergraduate and postgraduate courses in financial accounting and corporate accounting. She is a member of the Western Australia Cell of the External Reporting Centre of Excellence (ASCPA).


Table of Contents

Chapter 1: Nature and regulation of companies
The nature of a company
Different types of companies
Forming a company
Administering a company
Funding a company
Background to the Corporations Act 2001
Accounting regulation of companies
Other important regulatory organisations
General-purpose financial reports and the reporting entity concept

Chapter 2: Financing company operations
Accounting for share issues
Undersubscription and over subscription
Forfeiture and reissue of shares
Share issue costs and formation costs
Subsequent issues of equity shares
Share options
Redeemable preference shares
Conversion of shares
Share buy-backs
Debentures

Chapter 3: Company operations
The elements of financial statements
Recognition criteria for the elements
Measurement and classification of the elements
Dividends
Reserves
The income statement
Retained earnings and the statement of changes in equity
The balance sheet

Chapter 4: Accounting for income tax
Differences between accounting and income tax treatments
General principles of accounting for income tax
Current tax liability
Deferred tax liabilities and assets
Recognition of deferred tax liabilities and assets
Measurement of deferred tax assets and liabilities
Changes in tax rates
Tax losses
Disclosure
Payment of income tax

Chapter 5: Property, plant and equipment
The nature of PPE
Initial recognition of PPE
Initial measurement of PPE
Measurement subsequent to initial recognition
The cost model
The revaluation model
Choosing between the cost model and the revaluation model
Derecognition
Disclosure

Chapter 6: Leases
What is a lease?
Classification of leases
Classification guidance
Substance over form: incentives to misclassify leases
Accounting for finance leases by lessees
Accounting for finance leases by lessors
Accounting for finance leases by manufacturer or dealer lessors
Accounting for operating leases
Accounting for sale and leaseback transactions
Likely future developments

Chapter 7: Intangible assets
The nature of intangible assets
Recognition and initial measurement
Measurement subsequent to initial recognition
Retirements and disposals
Disclosure
Innovative measures of intangibles

Chapter 8: Business combinations
The nature of a business combination
Accounting for business combinations - basic principles
Accounting in the records of the acquirer: cost of combination
Accounting in the records of the acquirer: allocating the cost of the business combination
Accounting in the acquirer: goodwill and excess
Accounting in the records of the acquiree
Subsequent adjustments to the initial accounting for a business combination
Disclosure - business combinations
Business combinations (Phase II) considerations

Chapter 9: Impairment of assets
Introduction to AASB
When to take an impairment test
Impairment test for an individual asset
Cash-generating units - excluding goodwill
Impairment loss for a cash-generating unit - excluding goodwill
Cash-generating units and goodwill
Reversal of an impairment loss
Disclosure

Chapter 10: Disclosure: legal requirements and accounting policies
General-purpose financial reporting
Annual reporting requirements
Half-year financial reports
Accounting policies
Changes in accounting estimates
Errors
Materiality
Events occurring after reporting date

Chapter 11: Disclosure: presentation of financial statements
Components of a financial report
Overall considerations
General financial report presentation issues
Balance sheet
Income statement
Statement of changes in equity
Notes
Future developments

Chapter 12: Fundamental concepts of corporate governance for accountants
Corporate governance defined
Different theories, different corporate governance implications
Recent corporate collapses
The role of regulators and regulation
Directors and officers duties
Major issues for listed companies
Key corporate governance issues for accountants
International corporate governance and future developments

Chapter 13: Disclosure: Cash flow statements
Purpose of the cash flow statement
General format of the cash flow statement
Concept of cash
Classification of cash flow activities
Preparing the cash flow statement - direct method
Notes to the statement
Advanced issues
Limitations of the cash flow statement

Chapter 14: Controlled entities: the consolidation method
Forms of controlled entities
Applying the consolidation method
Control as the criterion for consolidation
Presentation of consolidated financial statements
Parent entities and identification of an acquirer - reverse acquisitions
Concepts of consolidation
Exposure drafts on consolidation
Format of consolidated financial statements

Chapter 15: Consolidation: wholly owned subsidiaries
The consolidation process
Consolidation worksheets
The acquisition analysis
Worksheet entries at the acquisition date
Worksheet entries subsequent to the acquisition date
Revaluations in the records of the subsidiary at acquisition date
Disclosure
Reverse acquisitions

Chapter 16: Consolidation: intragroup transactions
Rationale for adjusting for intragroup transactions
Transfers of inventory
Transfers of property, plant and equipment
Transfers between inventory and non-current assets
Intragroup services
Intragroup dividends from post-acquisition equity
Intragroup borrowings

Chapter 17: Consolidation: minority interest
Minority interest explained
Effects of an MI on the consolidation process
Calculating the MI share of equity
Adjusting for the effects of intragroup transactions
Excess on acquisition

Chapter 18: Consolidation: indirect ownership interests
Direct and indirect minority interest
Sequential acquisitions
Non-sequential acquisitions
Reciprocal ownership

Chapter 19: Accounting for investments in associates
Identifying associates
The equity method of accounting: rationale and application
Applying the equity method - basic method
Applying the equity method: goodwill and fair value adjustments
Applying the equity method: other issues
Applying the equity method: inter-entity transactions
Share of losses of the associate
Disclosure

Chapter 20: Liquidation of companies
Winding-up in insolvency and by the court
Voluntary winding-up
Powers of the liquidator
The liquidator's accounts
Proof of debts
Priority of payments of debts
Rights of contributories
Accounting for liquidation