Financial Accounting and Reporting



PAPERBACK by Elliott, Barry; Elliott, Jamie


928 pages
06 JUN 2019


The 19th edition of this market-leading text provides a comprehensive overview of financial accounting and reporting, with the aim of ensuring you are able to prepare and also critically discuss IFRS compliant financial statements. With balanced coverage of theoretical principles and up-to-date practical application of current international standards, the authors provide essential knowledge for advancing your studies and career. New to this edition: Chapter 7 'Concepts - evolution of an international conceptual framework' has been re-written following completion of the Conceptual Framework Chapter 18 'Leasing' has been revised in response to IAS 17 being superseded Chapter 30 'An introduction to digital financial reporting' has been revised to discuss further developments in financial reporting on the internet Chapter 31 'Corporate finance' and Chapter 32 'Integrated reporting: sustainability, environmental and social' have been updated to reflect the growing interest in and importance of integrated reporting Updated and refreshed exercises Fully updated coverage of IFRS and IAS including latest IFRS 9, 15 and 16 Key features: Exercises of varying difficulty including questions from past examination papers of professional accounting bodies Illustrations taken from real-world international company reports and accounts Extensive references included at the end of chapters For lecturers, complete solutions to all exercises in the book available on catalogue website For students, complete solutions for selected exercises in the text are available on a companion website found at www.pearsoned.co.uk/elliottelliott MyLab Accounting is not included. Students, if MyLab Accounting is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab Accounting should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information. Barry Elliott has extensive teaching experience at undergraduate, postgraduate and professional levels. He has wide experience as an external examiner in higher education at all levels of professional education. Jamie Elliott is a director who has worked for Deloitte, Huawei and Panasonic. Prior to that, he lectured on undergraduate degree programmes and as Assistant Professor on MBA and Executive Education programmes at the London Business School.


Part 1 INTRODUCTION TO ACCOUNTING ON A CASH FLOW AND ACCRUAL ACCOUNTING BASIS 1 Accounting and reporting on a cash flow basis 2 Accounting and reporting on an accrual accounting basis Part 2 PREPARATION OF INTERNAL AND PUBLISHED FINANCIAL STATEMENTS 3 Preparation of financial statements of comprehensive income, changes in equity and financial position 4 Annual Report: additional financial disclosures 5 Statements of cash flows Part 3 REGULATORY FRAMEWORK - AN ATTEMPT TO ACHIEVE UNIFORMITY 6 Financial reporting - evolution of global standards 7 Concepts - evolution of an international conceptual framework 8 Ethical behaviour and implications for accountants Part 4 INCOME AND ASSET VALUE MEASUREMENT SYSTEMS 9 Income and asset value measurement: an economist's approach 10 Accounting for price-level changes 11 Revenue recognition Part 5 STATEMENT OF FINANCIAL POSITION - EQUITY, LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE 12 Share capital, distributable profits and reduction of capital 13 Liabilities 14 Financial instruments 15 Employee benefits 16 Taxation in company accounts 17 Property, plant and equipment (PPE) 18 Leasing 19 Intangible assets 20 Inventories 21 Construction contracts Part 6 CONSOLIDATED ACCOUNTS 22 Accounting for groups at the date of acquisition 23 Preparation of consolidated statements of financial position after the date of acquisition 24 Preparation of consolidated statements of income, changes in equity and cash flows 25 Accounting for associates and joint arrangements 26 Introduction to accounting for exchange differences Part 7 INTERPRETATION 27 Earnings per share 28 Review of financial ratio analysis 29 Analysis of published financial statements 30 An introduction to digital financial reporting Part 8 ACCOUNTABILITY 31 Corporate governance 32 Integrated reporting: sustainability, environmental and social