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Financial Accounting and Reporting

Financial Accounting and Reporting

19th Edition

Barry Elliott, Jamie Elliott

Jun 2019, Paperback, 928 pages
ISBN13: 9781292255996
ISBN10: 1292255994
For orders to USA, Canada, Australia, New Zealand or Japan visit your local Pearson website
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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  • Chapter 18 ‘Leasing’ has been revised in response to IAS 17 being superseded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.

Preface xx

Part 1

INTRODUCTION TO ACCOUNTING ON A CASH FLOW AND

ACCRUAL ACCOUNTING BASIS 1

1 Accounting and reporting on a cash flow basis 3

2 Accounting and reporting on an accrual accounting basis 21

Part 2

PREPARATION OF INTERNAL AND PUBLISHED FINANCIAL

STATEMENTS 31

3 Preparation of financial statements of comprehensive income,

changes in equity and financial position 33

4 Annual Report: additional financial disclosures 72

5 Statements of cash flows 104

Part 3

REGULATORY FRAMEWORK – AN ATTEMPT TO ACHIEVE

UNIFORMITY 133

6 Financial reporting – evolution of global standards 135

7 Concepts – evolution of an international conceptual framework 159

8 Ethical behaviour and implications for accountants 184

Part 4

INCOME AND ASSET VALUE MEASUREMENT SYSTEMS 211

9 Income and asset value measurement: an economist’s approach 213

10 Accounting for price-level changes 232

11 Revenue recognition 265

Part 5

STATEMENT OF FINANCIAL POSITION – EQUITY,

LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE 291

12 Share capital, distributable profits and reduction of capital 293

13 Liabilities 317

14 Financial instruments 340

15 Employee benefits 371

16 Taxation in company accounts 400

17 Property, plant and equipment (PPE) 425

18 Leasing 460

19 Intangible assets 485

20 Inventories 515

21 Construction contracts 542

Part 6

CONSOLIDATED ACCOUNTS 567

22 Accounting for groups at the date of acquisition 569

23 Preparation of consolidated statements of financial

position after the date of acquisition 590

24 Preparation of consolidated statements of income,

changes in equity and cash flows 603

25 Accounting for associates and joint arrangements 625

26 Introduction to accounting for exchange differences 0651

Part 7

INTERPRETATION 673

27 Earnings per share 675

28 Review of financial ratio analysis 701

29 Analysis of published financial statements 736

30 An introduction to digital financial reporting 779

Part 8

ACCOUNTABILITY 805

31 Corporate governance 807

32 Integrated reporting: sustainability, environmental and social 843

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 book available on catalogue website

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.