Financial accounting and reporting: a global perspective
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Andover
Cengage Learning
2019
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| Ausgabe: | fifth edition |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | xxvi, 660 Seiten Diagramme |
| ISBN: | 9781473740204 |
Internformat
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Datensatz im Suchindex
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| adam_text | BRIEF CONTENTS PART I INTRODUCTION TO FINANCIAL ACCOUNTING 1 Accounting: The Language of Business 2 Introduction to Financial Statements 2 37 3 Financial Statements: Interrelations and Construction 89 4 Accounting Principles and End-of-period Adjustments 122 PART II MAJORACCOUNTING TOPICS m 5 Regulation of Accounting and Financial Reporting f 64 6 Revenue Recognition Issues 208 7 Tangible Assets 248 8 Intangible Assets 287 9 Inventories 317 10 Financial Instruments in the Statement of Financial Position and Fair Value Accounting 343 11 Shareholders’Equity 376 12 Liabilities and Provisions 413 13 Business Combinations 456 PART III FINANCIALSTATEMENT ANALYSIS 493 14 Analysis of the Income Statement 494 15 Analysis of the Statement of Financial Position/Balance Sheet 518 16 Statement of Cash Flows Construction 543 17 Analysis of the Statement of Cash Flows and Earnings Quality 568 18 Ratio Analysis, Financial Analysis and Beyond 594 Glossary of Key Terms Index ¡V 638 654
CONTENTS List of Real Companies Referenced About the Authors Preface Acknowledgements PART I INTRODUCTION TO FINANCIAL ACCOUNTING 1 Accounting: The Language of Business 1 A model of business activity xix 9.1 Sumerian times 26 XXV 9.2 Accounting in Egypt 26 9.3 Accounting in Greece 26 9.4 Accounting in Rome 27 9.5 Accounting in the Middle Ages 27 1 2 2 4 2.2 Accounting is a living language 2.3 Accounting is a language with some maneuvering room 7 5 8 3.1 Accounting 10 10 3.2 Financial accounting 10 4 Users of financial accounting 4.1 Presentation of the various users 4.2 Financial reporting standards: how to satisfy the users needs 5 Introduction to the accounting process 6 Financial accounting and managerial accounting 7 Qualitative characteristics of useful financial statements 7.1 Relevance 7.2 Faithful representation 7.3 Comparability 7.4 Verifiability 7.5 Timeliness 7.6 Understandability 12 12 14 15 21 21 21 23 23 24 24 24 8 Book value of shareholders’ equity and market value of the shares 26 xxi 2 Accounting: a language for business 2.1 Business creates an agency relationship that calls for reporting 3 Definition of financial accounting 9 History of accounting: from Sumer to Luca Pacioli xiv 8.1 Book value of shareholders’ equity 24 24 8.2 Market value of shareholders’ equity 25 8.3 The role of accounting in managing value 25 Key points Review (Solutions are on the book website) Review 1.1 Multiple-choice questions Review 1.2 Discussion questions Assignments Assignment 1.1 Multiple-choice questions Assignment 1.2 Discussion questions Assignment 1.3 Xenakis Assignment
1.4 Vangelis Assignment 1.5 Horn of Abundance Assignment 1.6 Kalomiris Construction Assignment 1.7 Nikolopoulos Assignment 1.8 Sheik Selim References Further reading Additional material online Notes 2 Introduction to Financial Statements 1 Statement of financial position or balance sheet 2 The basic business equation or balance sheet equation 28 29 29 29 29 29 30 30 31 31 32 32 32 34 34 34 34 37 38 40 2.1 Basic principle: double-entry accounting 40 2.2 2.3 Terminology Transactions 41 44 2.4 Typical transactions 54 3 Income statement (or ‘statement of profit or loss’, ‘profit and loss account’, ‘P L statement’, or simply ‘P L’) 54 3.1 Business equation and income statement 55 3.2 3.3 Elements of the income statement Application to Verdi 55 58 v
CONTENTS 3.4 3.5 Impact of transactions on financial statements Balance sheet and value creation 4 Depreciation 4.1 Principle 4.2 Application to Verdi 5 Profit appropriation 5.1 Principle 5.2 Application to Verdi 5.3 Cash, profit and retained earnings 5.4 What can be ‘done’ with retained earnings? 6 Consumption of resources and inventory valuation 6.1 Goods purchased for resale (merchandise) or for use in a transformation process (raw materials, parts and consumables) 6.2 Inventory of goods manufactured 7 Financial statement analysis 7.1 Trend, common-size analysis and ratio analysis 7.2 Financial situation ratios 7.3 Profitability ratios Key points Review (Solutions are on the book website) Review 2.1 Vivaldi Company (1) Review 2.2 Vivaldi Company (2) Review 2.3 Albinoni Company Appendix 1 Assignments Assignment Assignment Assignment Assignment Assignment Assignment Assignment 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Multipie-choice questions Vivaldi Company (3) Busoni Company Corelli Company (1) Corelli Company (2) adidas Group Stora Enso References Additional material online Notes 3 Financial Statements: Interrelations and Construction 1 Statement of cash flows 1.1 1.2 Accrual basis of accounting Evolution 1.3 Links between statement of financial position/balance sheet, Income statement and statement of cash flows 2 The production process of accounting information 2.1 Double-entry bookkeeping and the recording of transactions 2.2 The accounting process 3 Organization of the accounting system: the chart of accounts 59 60 60 60 61 63 63 64 65 66 66 67 71 74 74 75 78 79 80 80 80 80 81
81 81 82 82 3.1 Principles 104 104 3.2 Standardized chart of accounts 3.3 The importance of account codes 105 105 Key points Review (Solutions are on the book website) Review 3.1 Beethoven Company (1) 106 106 106 Review 3.2 Beethoven Company (2) Review 3.3 Grieg Company (1 ) Review 3.4 Grieg Company (2) Assignments Assignment 3.1 Multiple-choice questions Assignment 3.2 Industry.identification Assignment 3.3 Schubert Company (1 ) Assignment 3.4 Schubert Company (2) Assignment 3.5 Bach Company Assignment 3.6 Sibelius Company Appendix 107 107 108 108 108 109 110 111 111 118 118 Assignment 3.7 Internet-based exercise Assignment 3.8 Accounting history Assignment 3.9 Lavender Soap Company case References Further reading Additional material online Notes 118 119 4 119 120 120 121 121 Accounting Principles and End-of-Period Adjustments 122 1 Accounting principles 123 1.1 83 84 84 1.2 Main objective of accounting principles: give a true and fair view Objectivity 124 125 1.3 Quality of information 127 86 1.4 Prudence 128 87 87 1.5 Periodicity 1.6 The entity concept 129 130 88 2 End-of-period entries 131 2.1 2.2 89 90 91 91 93 97 2.3 Value adjustments to current asset accounts 135 2.4 136 Reporting adjusting entries 3 Recording of adjusting entries in practice 92 92 Adjusting entries 131 Value adjustments to fixed asset accounts 134 4 5 6 7 138 3.1 3.2 Revenues earned but not recorded Revenues recorded but unearned 138 139 3.3 Expenses consumed but not recorded 141 3.4 Expenses recorded In advance 142 Correction of errors Ending inventory Closing entries Limitations on the
applicability of accounting principles 144 144 144 144
Key points Review (Solutions are on the book website) Review 4.1 Adam 145 145 145 Review 4.2 Offenbach Company 147 Assignments 1.2 Specificity of‘long-term’services 212 1.3 Royalties, interest and dividends 215 1.4 Revenue recognition and reporting 216 2 Accounting for differences in net income calculations originating from diverging financial reporting and tax regulations 2.1 Pre-tax income and taxable income 147 147 Assignment 4.2 Roussel 152 Assignment 4.3 Gounod Company 152 2.2 Impact of permanent differences 220 153 2.3 Impact of temporary differences 221 157 2.4 Accounting for and reporting income taxes 227 158 2.5 Recognition of a net deferred tax asset 227 159 2.6 Accounting for net operating losses 228 2.7 Changes in tax rates 229 Assignment 4.5 Electrolux Assignment 4.6 Poulenc Company Assignment 4.7 Debussy Company References Further reading Additional material online Notes 160 160 161 161 PART II MAJOR ACCOUNTING TOPICS Regulation of Accounting and Financial Reporting 1 Financial reporting standards 1.1 Necessity of financial reporting standards 1.2 The International Accounting Standards Board 3 Financial statements presentation 3.1 Possible presentations of the statement of financial position/balance sheet 171 Possible presentations of the income statement 230 230 231 Prior period errors 231 6 Reporting discontinued operations 232 7 Comprehensive income 7.1 Principles 233 233 Examples 235 236 236 8.2 Grants related to income 238 8.3 Forgivable loans and repayable grants 238 Key points Review (Solutions are on the book website) 172 179 229 5 Reporting
accounting changes 5.1 Changes in accounting policies 5.2 Changes in accounting estimates 7.2 165 170 229 4 Extraordinary and exceptional items 8 Government assistance: grants and subsidies 8.1 Grants related to assets 165 165 218 218 3 Installment sales 5.3 164 2 The content of the annual report 3.2 Review 6.1 Schultz Accountancy Firm (1) 239 239 239 Review 6.2 Schall Company 240 Assignments 240 240 4 Notes to financial statements 184 Assignment 6.1 Multiple-choice questions 5 Terminology variations 187 Assignment 6.2 Schultz Accountancy Firm (2) 241 Assignment 6.3 Nielsen Company 242 Assignment 6.4 UBS AG and UPMKymmene 242 Key points Review (Solutions are on the book website) Review 5.1 Orkla 189 189 189 Review 5.2 Holcim 190 Assignment 6.5 Harmony Accountancy Firm Assignment 5.1 Multiple-choice questions 190 190 Assignment 5.2 Unilever 191 References Further reading Additional material online Notes Assignment 5.3 UPM-Kymmene (usually referred to as UPM) 192 7 Assignment 5.4 Nokia and others 192 Assignments References Further reading Additional material online Notes 6 vii Assignment 4.1 Multiple-choice questions Assignment 4.4 Lalo Company 5 CONTENTS 206 206 206 207 Revenue Recognition Issues 208 1 209 209 Revenue recognition 1.1 Sale of goods and services Tangible Assets 1 General principles 1.1 Categories of fixed assets 243 245 246 246 247 248 249 249 1.2 Accounting issues relating to tangible assets 1.3 Definition of tangible assets 251 1.4 Cost of acquisition 254 2 Depreciation 2.1 Components of a complex tangible asset 2.2 Residual value 250 255 256 256
CONTENTS 2.3 Depreciable amount or depreciable base 256 2.4 Useful life (or service life) for accounting purposes 257 2.5 2.6 Choice of a depreciation method Depreciation schedule 2.7 Book value (also called ‘net book value’ or ‘carrying amount’) 265 2.8 Recording the depreciation expense 265 2.9 Summary of the income statement impact of the different methods 2.10 Reporting depreciation policies 3 Impairment 3.2 Real-life example 269 4.1 Definition ֊ principle 269 269 4.2 Valuation 4.3 Recording of the transactions 4.2 Elements of the debate over capitalization of R D 300 4.3 Reporting R D activity 302 5 Accounting for computer software 5.1 Accounting rules 304 304 5.2 Reporting computer software costs 304 6 Financial statement analysis. 6.2 Link between R D and growth 307 6.3 Link between R D and market value 307 272 272 7.1 Recording of the sale of an asset 273 273 7.2 Classification In the income statement 273 8.1 Depreciation and cash flow 274 274 8.2 Reporting movements in tangible assets 274 8.3 Financial statement analysis 276 278 278 278 279 279 279 279 280 280 280 280 281 282 285 285 285 285 Intangible Assets 287 1 Definition of intangible assets 290 290 Principles Main categories of intangible assets 299 299 270 Land and building 1.1 1.2 Definition 269 5.2 Assignment 7.8 Merck Assignment 7.9 Kia References Further reading Additional material online Notes 297 305 306 271 271 Assignment 7.6 Tippett Assignment 7.7 Britten Inc. 296 R D intensity Cases in which land is a depreciable asset Key points Review (Solutions are on the book website) Review 7.1 Gibbons
Assignments Assignment 7.1 Multiple-choice questions Assignment 7.2 Discussion questions Assignment 7.3 Reporting in different sectors of activity Assignment 7.4 Reporting in the same sector of activity Assignment 7.5 Choice of depreciation methods 296 6.1 5.1 8 Financial aspects of tangible assets 294 4.1 268 3.2 Possible treatments of changes in intangible asset values Comparison of the approaches taken by the IAS В and the FASB (USA) 4 Accounting for research and development 266 Principle 6 Costs subsequent to acquisition 7 Disposal of long-term assets 3.1 265 3.1 5 Particular issues relating to reporting land and buildings 8 258 268 268 4 Assets constructed by and for the enterprise (internally generated assets) 2 Recognition of intangible assets 3 Reporting of changes in intangible asset values 290 Key points Review (Solutions are on the book website) Review 8.1 Turina Review 8.2 De Falla Assignments Assignment 8.1 Multiple-choice questions Assignment 8.2 Discussion questions Assignment 8.3 Reporting of intangibles Assignment 8.4 Searching for specific intangibles Assignment 8.5 R D intensity Assignment 8.6 Sarasate Accounting Firm Assignment 8.7 Granados Company Assignment 8.8 Sanofi 307 308 308 References Further reading Additional material online Notes 315 315 316 316 9 317 Inventories 308 308 308 309 309 310 310 310 311 311 Classification of inventories 318 1.1 Definition 318 1.2 Different types of inventories 318 1.3 Weight of inventories in the balance sheet Inventory recording systems 319 322 2.1 Perpetual (or permanent) inventory system 322 2.2 Periodic
inventory system 323 2.3 Comparison of recording 324 2.4 Presentation of inventories in the income statement by nature 324 Inventory valuation and reported income 324 3.1 3.2 324 The basic issue Methods for the valuation of inventory outflows (costing formulae for withdrawals) Inventories and cash flow 326 330
CONTENTS 5 Decline in value of items in inventories (end-of-year adjustments) 6 Income statement by nature and income statement by function 7 Disclosure of inventory valuation policies 8 Financial statement analysis pertaining to inventories Key points Review (Solutions are on the book website) Review 9.1 Ericsson Assignments Assignment 9.1 Multiple-choice questions Assignment Assignment Assignment Continental Assignment Assignment Assignment 9.2 Discussion questions. 9.3 Northwest Boards Bikes 9.4 WPP pic and Irish 9.5 Stravinsky 9.6 Repsol 9.7 Tchaikovsky Assignment 9,8 McDonald’s and others Assignment 9.9 Toyota. References Further reading Additional material online Notes 330 330 331 333 335 335 335 336 336 337 337 337 338 338 339 339 340 341 341 341 342 10 Financial Instruments in the Statement of Financial Position and Fair Value Accounting 343 1 Definition of financial assets and liabilities 1.1 1.2 1.3 Definition and classification of financial assets Measurement of financial assets Definition and measurement of financial liabilities 2 Cash and cash equivalents 3 Financial assets subsequently measured at amortized cost 4 Receivables 368 368 368 11 Shareholders’ Equity 376 1 369 369 369 370 371 372 372 374 375 375 375 Forms of business organization 1.1 Sole proprietorship 1.2 Partnership 377 378 378 1.3 378 Limited liability company 2 Share capital 2.1 Definition 379 379 380 Different categories of shares 381 346 2.5 2.6 Share premium Accounting for share capital 382 382 2.7 Reporting share capital 347 347 3 Profit appropriation 380 383 384 3.1 Dividends 384 348 348
3.2 3.3 Reserve accounts Reporting retained earnings and reserves 385 385 3.4 Reporting and accounting for shareholders’ equity 386 4.3 Sales returns 358 360 5.1 Principle 360 5.2 Recognition of the evolution of value 360 Reporting financial asset at fair value through profit or loss Key points Review (Solutions are on the book website) Review 10.1 Berg Assignments Assignment 10.1 Multiple-choice questions Assignment 10.2 Mahler Assignment 10.3 Bosch Assignment 10.4 Bayer Assignment 10.5 Holmen Assignment 10.6 Youngor References Further reading Additional material online Notes 2.4 357 6.3 366 345 349 6.2 Accounting for financial assets at fair value through profit or loss 364 9 Financial statement analysis Payment of share capital Notes receivable Definitions 364 8 Disclosure of financial instruments Nominal or par value Accounts receivable or‘receivables’ 6.1 Estimation techniques of the fair value of unlisted investments 2.3 4.2 6 Financial assets subsequently measured at fair value through profit or loss 7.2 364 364 2.2 344 4.1 5 Financial assets subsequently measured at fair value through other comprehensive income (FVOCI) 7 Equity instruments designated as measured at FVOCI 7.1 Principle ¡X 360 360 360 362 4 Accounting for the Issuance of shares granted for non-cash capital contributions 4.1 Issuance of shares for capital contributions in kind 4.2 Issuance of new shares due to capitalization of retained earnings or of some reserves 4.3 Issuance of shares resulting from an Increase in capital due to a conversion of liabilities 388 389 389 390 5 Accounting for share
issuance costs 391 6 Capital reduction 7 Treasury shares (or own shares, or treasury stock) 391 7.1 Why repurchase one’s own shares? 391 391
x CONTENTS 7.2 Purchase of treasury shares to reduce the share capital 392 7.3 Purchase of treasury shares held by the corporation 392 7.4 Reporting for treasury shares 8 Stock options plan (‘Share options plan’) 6 Liabilities, provisions and contingent liabilities 423 6.1 Provision versus liability (in the strict sense of the word) 424 393 6.2 Provision versus accrued liabilities 426 394 6.3 Contingent liabilities 426 8.1 Definition 394 6.4 Provisions versus contingent liabilities 427 8.2 Accounting for stock options plan 394 6.5 Environmental liability 395 7 Bonds 429 396 7.1 Definition 429 396 7.2 Interest, discount, and premium 430 11.1 The prescriptive content of IAS 1 397 7.3 Accounting for bonds 11.2 Presentation of the changes in equity 397 9 Share dividend and dividend in kind 10 Comprehensive income 11 Changes in shareholders’ equity 12 Financial statement analysis 8 Leased assets 429 431 433 400 8.1 Accounting for leased assets 433 12.1 Impact on financial structure 400 8.2 Rnance and operating leases (IAS 17) 434 12.2 Ratios 401 8.3 All leases (IFRS 16) 435 8.4 Capitalization of [finance] leased assets 436 Key points Review (Solutions are on the book website) Review 11.1 Copland Company Review 11.2 Menotti Company 404 8.5 Example of accounting for leased assets 436 404 8.6 Operating leases 438 404 8.7 Sale [of an asset] and leaseback transactions 438 Assignments Assignment 11.1 Multiple-choice questions Assignment 11.2 Ives Company Assignment 11.3 Bernstein Company 405 8.8 Reporting lease agreements to the users of financial Information 438 Assignment Assignment
Assignment Assignment 11.4 11.5 11.6 11.7 Gilbert Company Gerry Weber Holmen Nokia 404 405 406 406 407 407 408 408 References Further reading Additional material online Notes 411 12 Liabilities and Provisions 413 1 Definitions 1.1 Present obligation 411 411 414 414 1.2 Past events 414 Settlement of the obligation 414 1.4 The current/non-current distinction 414 417 418 419 4.1 Accounts payable 419 4.2 Notes payable 420 4.3 Income taxes payable 420 4.4 Sales tax and value added tax (VAT) collected 420 Current portion of long-term debt 420 4.5 5 Reporting liabilities 9.1 Short-term employee benefits 439 440 9.2 Post-employment benefits 442 10 Financial statement analysis 443 10.1 Capitalized leased assets 443 10.2 Ratios 444 411 1.3 2 Weight of liabilities in the balance sheet 3 Non-current (long-term or financial) liabilities 4 Accounting for current liabilities 9 Employee benefits and pension accounting 421 5.1 No separation between short-term and long 421 term liabilities on the balance sheet 5.2 Short-term and long-term liabilities reported separately on the balance sheet 422 Key points Review (Solutions are on the book website) Review 12.1 Stenborg Review 12.2 Haeffner PLC (1) Assignments Assignment 12.1 Multiple-choice questions Assignment 12.2 Reporting liabilities in different sectors of activity Assignment 12.3 Reporting liabilities in the same sector of activity Assignment 12.4 Haeffner PLC (2) Assignment 12.5 Stora Enso, Repsol YPF, Cobham and Thales Assignment 12.6 Nilsson Company Exhibit 1 : Everylease PLC Exhibit 2: Lease contract Assignment 12.7 United Internet
Assignment 12.8 Saint Gobain Assignment 12.9 ArcelorMittal References Further reading Additional material online Notes 445 445 445 445 446 446 447 447 447 448 449 450 450 450 451 452 454 454 455 455
CONTENTS 13 Business Combinations 1 Types of investments 2 Business combinations: principles 2.1 Definition 2.2 2.3 456 459 459 459 Usefulness of consolidated financial statements 460 Nature of relations between parent company and group entities 461 3 Reporting the acquisition of a financial interest: consolidation methods 3.1 Impact of an acquisition on reporting 463 464 3.2 When no consolidation is required 3.3 When full consolidation is required 464 465 3.4 When equity method is required 473 3.5 When proportionate consolidation was required 475 Reporting which method(s) was (were) used in consolidation 477 3.6 xi PART III FINANCIAL STATEMENT ANALYSIS 14 Analysis of the Income Statement 494 1 Trend analysis (also known as horizontal or chronological analysis) applied to the income statement 1.1 Principles and intent 495 495 1.2 Advantages and limitations of trend analysis 496 1.3 Example of trend analysis 496 2 Common-size analysis (also known as vertical analysis) of the income statement 2.1 Principle and intent 498 498 2.2 2.3 Usefulness of common-size analysis Illustration 498 499 2.4 Common-size income statement 500 Key points Review (Solutions are on the book website) 3.7 Impact of each of the methods of consolidation on reported group sales revenue and net income 478 3.8 Synthesis: Interaction between IFRS 10, 11, 12 and IAS 28 479 Review 14.1 Dvorak Company (1) 508 509 509 3.9 Equity method in separate financial statements 479 Review 14.2 Chugoku Power Electric Company (1 ) 509 4 Consolidation process 480 5 Deferred taxation on consolidation 481 Assignment 14.1
Multiple-choice questions 510 510 6 Foreign currency translations 481 Assignment 14.2 Smetana Company (1 ) 511 7 Legal mergers 7.1 Determination of the value of both companies 482 Assignment 14.3 Procter Gamble (1) 512 Assignment 14.4 Iliad-Free 513 482 7.2 Determination of the rate of exchange of shares 483 7.3 Determination of the number of shares to issue in the merger 483 7.4 Determination of the merger premium 7.5 Accounting for the merger Key points Review (Solutions are on the book website) 483 483 484 485 485 Assignments Assignment 14.5 Wipro Limited - Assignment 14.6 China Communications Construction 516 517 517 517 518 519 486 Assignment 13.1 Multiple-choice questions 486 1 Trend analysis (also known as horizontal or chronological analysis) Assignment 13.2 H S 486 Assignment 13.3 Mutter Tochter 487 Assignment 13.4 China International Marine Container, Honda Motors, EVN and Recipharm 488 Assignments Assignment 13.5 Bosnians and Badings References Further reading Additional material online Notes 489 489 490 490 491 515 Reference Further reading Additional material online Notes 15 Analysis of the Statement of Financial Position/Balance Sheet Review 13.1 Mater Filia 514 2 Common-size analysis (also known as vertical analysis) of the balance sheet 2.1 Definition 2.2 Common-size statement of financial positipn/balance sheet 3 Statement of financial position/Balance sheet structure and cash equation 3.1 Statement of financial position/Balance sheet structure 3.2 Cash equation: working capital, working capital requirement and net cash 519 519 519 519 519 521
CONTENTS 3.3 The statement of financial structure in practice: comparative analysis of Exxon, Sinopec and Total Key points Review (Solutions are on the book website) Review 15.1 Dvorak Company (2) Review 15.2 Chugoku Power Electric Company (2) Assignments Assignment 15.1 Multiple-choice questions Assignment 15.2 Smetana Company (2) Assignment 15.3 PetroChina Assignment 15.4 Aeroflot Assignment 15.5 Infosys Company Assignment 15.6 Iliad-Free (2) References Further reading Additional material online Notes 16 Statement of Cash Flows Construction 1 Structure of the statement of cash flows 2 Usefulness of the statement of cash flows 527 533 534 534 534 536 536 537 537 Key points Review (Solutions are on the book website) Review 16.1 Dvorak Company (3) Assignments Assignment 16.1 Multiple-choice questions Assignment 16.2 Smetana Company (3) Assignment 16.3 Haas Company References Further reading Additional material online Notes 563 564 564 564 564 565 565 566 566 567 567 539 540 541 542 542 542 542 17 Analysis of the Statement of Cash Flows and Earnings Quality 1 Analysis of the statement of cash flows 568 1.1 Algebraic sign of cash flows 569 569 1.2 From excess cash flow to free cash flow 569 1.3 Analyzing the statement of cash flows with ratios 572 543 544 2.1 The importance of cash 544 544 2.2 Cash Is objective 544 2.1 2.3 A valuable forecasting tool 545 2.4 Developments In international practice 545 2.2 The different forms of accounts manipulation 575 2.3 Practices 576 2.4 Difference between cash-based or accrual-based earnings management 576 2.5 Can accounts manipulation
remove the usefulness of financial statements? 577 3 Definition of the three categories of activities impacting cash flows 3.1 Operating activities 545 545 3.2 Investing activities 546 3.3 Financing activities 546 Differences in classification 547 4 Calculating cash flows from operating activities 3.4 547 4.1 The direct method of calculating cash flows from operating activities 547 4.2 The indirect method of calculating cash flows from operating activities 547 4.3 Reporting cash flows from operating activities 548 5 Cash and cash equivalents 5.1 Definitions 548 548 5.2 Disclosure 549 6 Example of a statement of cash flows 7 Construction of a statement of cash flows 549 551 552 7.1 Cash flows from operating activities 7.2 Cash flows from investing activities 7.3 Cash flows from financing activities 559 560 7.4 Full statement of cash flows 562 8 Reporting the statement of cash flows 9 Non-cash investing and financing transactions 562 562 2 Accounts manipulation and quality of financial statements Principles 573 573 3 Using the indirect method of operating cash flow as a tool to analyze the earnings 578 quality of a company Key points Review (Solutions are on the book website) Review 17.1 Wesfarmers Review 17.2 Bartok Company Assignments Assignment 17.1 Multiple-choice questions Assignment 17.2 Smetana Company (4) Assignment 17.3 Ericsson Assignment 17.4 Sinopec Assignment 17.5 Procter Gamble (2) Assignment 17.6 The Wharf (Holdings) Limited References Further reading Additional material online Notes 579 579 579 582 582 582 583 583 584 586 588 591 592 593 593
CONTENTS 18 Ratio Analysis, Financial Analysis and Beyond 1 594 6 Governance 6.1 Enterprise governance defined 6.2 Corporate governance and internal controls, accountability and assurance xiii 620 620 Ratio analysis: searching for answers to the ‘how’ question 1.1 Definition 595 595 6.3 Business governance and value creation 6.4 Business governance metrics 621 1.2 Conditions of use of ratio analysis 596 6.5 Regulating enterprise governance 621 1.3 1.4 Comparisons of ratios 598 6.6 Some key ratios 601 The causes of violations of the good governance principles 622 1.5 Additional remarks about ratios computation 6.7 Regulating ethics 622 603 6.8 Corporate social responsibility 623 Pyramids of ratios 603 1.6 Sources of information about business entities 2.1 Annual report to shareholders 2.2 605 605 Key points Review (Solutions are on the book website) Review 18.1 Bizerte Home Furniture Company 620 620 623 624 624 Business newspapers and magazines, specialized magazines 607 2.3 Databases 607 Assignment 18.1 Multiple choice questions 627 627 2.4 Financial statements filed with tax or judicial authorities 607 Assignment 18.2 ULMA Construcción Polska SA 627 Assignment 18.3 Agfa-Gevaert 629 Measures of return to investors 3.1 Earnings per share and return on equity 3.2 Measures of return on capital invested: residual income and economic value added (EVA) Segment reporting 4.1 4.2 Definitions Disclosure Scoring models 5.1 Principles 5.2 Example: the Altman’s Z Score 607 607 612 616 616 616 619 619 619 Assignments Assignment 18.4 South Petrol and North Petrol 630 Assignment 18.5
Microsoft Corporation 634 References Further reading Additional material online Notes 635 635 636 636 Glossary of Key Terms Index 638 654
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| author | Stolowy, Hervé Lebas, Michel J. Ding, Yuan |
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| author_facet | Stolowy, Hervé Lebas, Michel J. Ding, Yuan |
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| dewey-ones | 657 - Accounting |
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| dewey-search | 657.3 |
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| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| edition | fifth edition |
| format | Book |
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| genre | (DE-588)4522595-3 Fallstudiensammlung gnd-content |
| genre_facet | Fallstudiensammlung |
| id | DE-604.BV045550457 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T08:21:15Z |
| institution | BVB |
| isbn | 9781473740204 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-030934445 |
| oclc_num | 1103513726 |
| open_access_boolean | |
| owner | DE-473 DE-BY-UBG |
| owner_facet | DE-473 DE-BY-UBG |
| physical | xxvi, 660 Seiten Diagramme |
| publishDate | 2019 |
| publishDateSearch | 2019 |
| publishDateSort | 2019 |
| publisher | Cengage Learning |
| record_format | marc |
| spelling | Stolowy, Hervé Verfasser (DE-588)171537106 aut Financial accounting and reporting a global perspective Hervé Stolowy ; Michel J. Lebas ; Yuan Ding fifth edition Andover Cengage Learning 2019 © 2017 xxvi, 660 Seiten Diagramme txt rdacontent n rdamedia nc rdacarrier Unternehmen (DE-588)4061963-1 gnd rswk-swf Finanzierung (DE-588)4017182-6 gnd rswk-swf Rechnungswesen (DE-588)4048732-5 gnd rswk-swf International Financial Reporting Standards (DE-588)4699643-6 gnd rswk-swf (DE-588)4522595-3 Fallstudiensammlung gnd-content Unternehmen (DE-588)4061963-1 s International Financial Reporting Standards (DE-588)4699643-6 s DE-604 Finanzierung (DE-588)4017182-6 s Rechnungswesen (DE-588)4048732-5 s 1\p DE-604 Lebas, Michel J. Verfasser aut Ding, Yuan Verfasser (DE-588)132993511 aut Digitalisierung UB Bamberg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030934445&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Stolowy, Hervé Lebas, Michel J. Ding, Yuan Financial accounting and reporting a global perspective Unternehmen (DE-588)4061963-1 gnd Finanzierung (DE-588)4017182-6 gnd Rechnungswesen (DE-588)4048732-5 gnd International Financial Reporting Standards (DE-588)4699643-6 gnd |
| subject_GND | (DE-588)4061963-1 (DE-588)4017182-6 (DE-588)4048732-5 (DE-588)4699643-6 (DE-588)4522595-3 |
| title | Financial accounting and reporting a global perspective |
| title_auth | Financial accounting and reporting a global perspective |
| title_exact_search | Financial accounting and reporting a global perspective |
| title_full | Financial accounting and reporting a global perspective Hervé Stolowy ; Michel J. Lebas ; Yuan Ding |
| title_fullStr | Financial accounting and reporting a global perspective Hervé Stolowy ; Michel J. Lebas ; Yuan Ding |
| title_full_unstemmed | Financial accounting and reporting a global perspective Hervé Stolowy ; Michel J. Lebas ; Yuan Ding |
| title_short | Financial accounting and reporting |
| title_sort | financial accounting and reporting a global perspective |
| title_sub | a global perspective |
| topic | Unternehmen (DE-588)4061963-1 gnd Finanzierung (DE-588)4017182-6 gnd Rechnungswesen (DE-588)4048732-5 gnd International Financial Reporting Standards (DE-588)4699643-6 gnd |
| topic_facet | Unternehmen Finanzierung Rechnungswesen International Financial Reporting Standards Fallstudiensammlung |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030934445&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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