Rodgers International Accounting Standards

from UK standards to IAS, an accelerated route to understanding the key principles of international accounting rules
1. Auflage 2007
ISBN: 978-0-08-054861-6
Verlag: Elsevier Reference Monographs
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 288 Seiten

This handbook is aquick reference to International Accounting Standards and is designed for all those who interact with financial information, and need an accelerated route to understanding the key principles of international accounting rules.
It is essential reading for all members of the management team. Members of any finance and accounting team will find it a practical summary of all the big concerns allowing relevant questions to be raised with auditors and other professionals interested in the governance of the business.
Tables, diagrams and flow charts are used extensively throughout in order to make the information presented user friendly and quickly assimilated. The consequences for the non-accounting functions of a business are clearly highlighted, to give further insights into how International Accounting standards impinge on abusiness.
* Provides an accelerated route to understanding the key principles of the new International Accounting rules and the key skills to ease the transition to IAS
* Shows the impact both on preparation and presentation of financial information and the consequences for analysis and interpretation.
* Identifies the major differences between the two standards and reflects changes expected in the future.

Paul Rodgers trained as a chartered accountant before working in the computer industry. He subsequently moved into the training sector where he has specialised in financial and management skills for more than seventeen years, whilst keeping in touch with the commercial world as a director of a large training organisation and its publication function.Clients have included participants from international accountancy practices, banks, government departments plus a wide range of retail and service companies.Since the introduction of international accounting rules, his skills in this area have been required by numerous organisations preparing for the transition. He also continues to provide a broad spectrum of training as well as undertaking editorial assignments for both professional bodies and private clients. His most recent projects are the establishment of an accountancy division within a leading City based training company and the design of bespoke training courses for the legal sector

Autoren/Hrsg.

Rodgers, Paul

Inhaltsverzeichnis

1;Cover;1
2;Table of Contents;6
3;Introduction;12
4;Chapter 1 Harmonization – The Story So Far;16
4.1;A long winding road;18
4.2;2005 – The year when the accounting world would change forever;20
4.3;The EU was not alone;22
4.4;Convergence with US GAAP;22
4.5;Finance directors beware;23
4.6;Let us not lose sight of the benefits;24
4.7;Key Facts;24
5;Chapter 2 The Mechanics of Transition;26
5.1;Which UK companies have had to make the transition to IFRS?;28
5.2;The small company conundrum;30
5.3;First-time adoption: The basics;32
5.4;Key Facts;35
6;Chapter 3 The Conceptual Framework;36
6.1;The Christmas tree approach;38
6.2;Key Facts;41
7;Chapter 4 Presentation – The Big Picture;42
7.1;What to expect in financial statements prepared under IFRS;44
7.2;Key Facts;45
8;Chapter 5 Presentation – The Balance Sheet;46
8.1;Setting expectations;48
8.2;Illustrations;49
8.3;Key differences;53
8.4;Analytical consequences;55
8.5;Main sources of guidance;55
8.6;Key Facts;55
9;Chapter 6 Presentation – The Performance Statement;56
9.1;Setting expectations;58
9.2;Illustrations;58
9.3;Key differences;60
9.4;Dealing with the unusual;61
9.5;Discontinued operations;62
9.6;Analytical consequences;69
9.7;Main sources of guidance;71
9.8;Key Facts;71
10;Chapter 7 Presentation – The Cash Flow Statement;72
10.1;Setting expectations;74
10.2;Illustrations;74
10.3;What is cash?;77
10.4;Cash flow classification;78
10.5;Is a cash flow statement always required?;79
10.6;Treasury management;79
10.7;Main sources of guidance;83
10.8;Key Facts;83
11;Chapter 8 Presentation – Other Primary Statements and Associated Disclosures;86
11.1;Setting expectations;88
11.2;Illustrations;89
11.3;A closer look at UK GAAP;91
11.4;Key differences;93
11.5;The historic costs note;94
11.6;Main sources of guidance;95
11.7;Key Facts;96
12;Chapter 9 Presentation – Related Parties and Segmental Disclosures;98
12.1;Setting expectations;100
12.2;Related party definitions;100
12.3;Materiality;102
12.4;Related party disclosures;103
12.5;The scope of segmental reporting;105
12.6;What is a segment?;106
12.7;Segmental disclosures;109
12.8;Illustrations of segmental reporting;111
12.9;The future;124
12.10;Main sources of guidance;124
12.11;Key Facts;124
13;Chapter 10 Tangible Non-current Assets;126
13.1;Setting expectations;128
13.2;Depreciation;128
13.3;Revaluation;129
13.4;Capitalization of borrowing costs;131
13.5;Government grants;132
13.6;Investment properties;133
13.7;Main sources of guidance;137
13.8;Key Facts;137
14;Chapter 11 Intangible Assets;138
14.1;Setting expectations;140
14.2;Goodwill;140
14.3;Other intangibles;144
14.4;Research and development;145
14.5;Illustration of IAS GAAP;147
14.6;Main sources of guidance;150
14.7;Key Facts;151
15;Chapter 12 Asset Impairment;152
15.1;Setting expectations;154
15.2;Grouping assets and impairment allocation;155
15.3;Value in use – discount rates;156
15.4;Value in use – look-back tests;157
15.5;Reversal of impairment;157
15.6;Main sources of guidance;157
15.7;Key Facts;158
16;Chapter 13 Leasing;160
16.1;Setting expectations;162
16.2;Determining lease classification;165
16.3;Land and building issues;166
16.4;Operating lease disclosures;166
16.5;Allocation of finance costs;168
16.6;Main sources of guidance;168
16.7;Key Facts;169
17;Chapter 14 Stock and Long-term Contracts;170
17.1;Setting expectations;172
17.2;What’s in a name?;172
17.3;Reduced disclosure;173
17.4;Main sources of guidance;174
17.5;Key Facts;174
18;Chapter 15 Taxation;176
18.1;Setting expectations;178
18.2;FRS 19 snapshot;178
18.3;IAS 12 – Temporary differences instead of timing differences;179
18.4;Discounting;180
18.5;Intragroup transactions;181
18.6;Deferred tax assets;181
18.7;Disclosure;182
18.8;Main sources of guidance;183
18.9;Key Facts;183
19;Chapter 16 Retirement Benefits;186
19.1;Setting expectations;188
19.2;Accounting for actuarial gains and losses;190
19.3;Valuing scheme assets;194
19.4;Presentation;195
19.5;IAS 19 – A broader emit;195
19.6;Main sources of guidance;196
19.7;Key Facts;196
20;Chapter 17 Revenue Recognition;198
20.1;Setting expectations;200
20.2;IAS 18 – a brief synopsis;200
20.3;Main sources of guidance;201
20.4;Key Facts;201
21;Chapter 18 Group Accounts – Acquisition Accounting;202
21.1;Setting expectations;204
21.2;What is a subsidiary?;204
21.3;Exemptions from the requirement to produce group accounts;205
21.4;Excluded subsidiaries;206
21.5;Non-coterminous year ends;207
21.6;Special purpose entities;208
21.7;Distributions out of pre-acquisition profits;208
21.8;Disclosure;209
21.9;Do not forget those goodwill differences;213
21.10;Main sources of guidance;214
21.11;Key Facts;214
22;Chapter 19 Group Accounts – Associates;216
22.1;Setting expectations;218
22.2;Defining an associated undertaking;218
22.3;The use of equity accounting;218
22.4;The cost method;219
22.5;Consequences of a poorly performing associate;220
22.6;Presentation;220
22.7;Main sources of guidance;223
22.8;Key Facts;224
23;Chapter 20 Group Accounts – Joint Ventures;226
23.1;Setting expectations;228
23.2;Accounting for a joint venture;229
23.3;Déjà vu;232
23.4;Main sources of guidance;233
23.5;Key Facts;233
24;Chapter 21 Group Accounts – Merger Accounting: The End of the Road;234
24.1;Setting expectations;236
24.2;When can merger accounting be used in the UK?;236
24.3;Key differences compared to acquisition accounting;237
24.4;Main sources of guidance;238
24.5;Key Facts;238
25;Chapter 22 Narrowing the Divide – UK GAAP Goes International;240
25.1;Setting expectations;242
25.2;Share-based payment;243
25.3;Events after the balance-sheet date;247
25.4;Earnings per share;250
25.5;Foreign currency translation;252
25.6;Hyperinflationary economies;256
25.7;Financial instruments;256
25.8;Main sources of guidance;264
25.9;Key Facts;265
26;Chapter 23 Flicking the Switch: First-time Adoption;268
26.1;Setting expectations;270
26.2;Additional disclosures;270
26.3;Exemptions;279
26.4;Main sources of guidance;280
26.5;Key facts;280
27;Index;282