basket 0 items @ £0
View Basket

Transparency in Financial Reporting

A concise comparison of IFRS and US GAAP

By Ruth Ann McEwen
Cover of Transparency in Financial Reporting (Paperback) by Ruth Ann McEwen Cover of Transparency in Financial Reporting (Ebook - phone) by Ruth Ann McEwen Cover of Transparency in Financial Reporting (Ebook - tablet) by Ruth Ann McEwen
Add to Basket

Free eBook with every Print Edition
Claim your free eBook now

Product Information

Format(s): -

ISBN(s): -

Published:

Edition:

Author:

No. of pages:

SKU(s): -

About the Author

Ruth Ann McEwen

Ruth Ann McEwen is Associate Dean of Accreditation and Administration and Professor of Accounting for the Sawyer Business School at Suffolk University. She earned her Ph.D. in Industrial Management with a concentration in Accounting from the Georgia Institute of Technology and taught Financial Accounting at the Master's and Doctoral levels for more than 20 years. She is the author or co-author of ... Read more on Ruth Ann McEwen

Contents Listing

About the author
Introduction

Part One: Transparency of Financial Reporting
1. Transparency and Financial Reporting Quality
2. Transparency of the Balance Sheet: Fair Valuation
A. Fair valuation under alternative market assumptions
B. Hierarchy of inputs
C. Hierarchy of inputs: example
D. Entity-specific estimates

Part Two: Financial Reporting under IFRS Convergence
3. Legal Basis of US GAAP and IFRS
A. Common law versus code law
B. The codification
4. Fundamental Similarities and Differences

Part Three: Technical Analysis: US GAAP versus IFRS
5. Presentation of Financial Information
A. Balance sheet items
B. Income statement items
C. Comprehensive income, earnings and earnings per share
D. Statement of cash flows
E. Interim and segment reporting
F. Assets held for sale and discontinued operations
G. Capital
H. Stockholders' equity
I. Notes

6. Related Party Transactions

7. Subsequent Events

8. Revenue Recognition
A. Bill-and-hold sales
B. Long-term construction contracts
C. Software
D. Multiple deliverables
E. Disclosure
F. Differences in revenue recognition

9. Assets
A. Inventory
B. Biological assets
C. Plant, property and equipment
D. Investment property
E. Leased assets
F. Basket purchases and bargain purchases
G. Investments in securities and the equity method
H. Asset retirement obligations
I. Intangible assets

10. Asset Impairment

11. Liabilities and Contingencies
A. Current liabilities
B. Loss contingencies
C. Provisions, contingent liabilities and contingent assets

12. Pension Obligations and Expenses

13. Financial Instruments

14. Derivatives and Hedging

15. In Process Research and Development

16. Share Based Payments

17. Restructuring

18. Business Combinations
A. Consolidated or separate presentation

19. Income Taxes

Part Four: First Time Adoption: IFRS 1
20. Asset Differences

21. Mandatory and Optional Exemptions
A. Mandatory exemptions
B. Optional exemptions
C. Other adoption considerations

Part Five: Conclusion

Bibliography
Index
About the author
Introduction

Part One: Transparency of Financial Reporting
1. Transparency and Financial Reporting Quality
2. Transparency of the Balance Sheet: Fair Valuation
A. Fair valuation under alternative market assumptions
B. Hierarchy of inputs
C. Hierarchy of inputs: example
D. Entity-specific estimates

Part Two: Financial Reporting under IFRS Convergence
3. Legal Basis of US GAAP and ...

Jacket Text

By January 2012 all major economies, apart from the US, will provide financial reports using International Financial Reporting Standards (IFRS). This book sets out the key differences between IFRS and US GAAP from a practitioner's perspective, although financial analysts will also benefit from the material presented.

The financial crisis has been attributed to, among other things, a perceived lack of transparency in the financial markets. In general, transparency implies an ability to see the reported results of an entity's financial activities clearly and to use these results in making investment decisions. At question is the belief that transparency in financial reporting will lead to transparency in financial markets. Unfortunately, this link may be more subjective than most of us wish.

Ruth Ann McEwen presents an analysis of reporting issues affecting transparency under IFRS, compared with US GAAP, and suggests areas of concern for preparers and users of financial reports. Providing an invaluable guide for all accountancy professionals, the book also contains a technical analysis of major accounting issues raised by convergence, and indicates areas of interest during initial adoption of IFRS by US entities. This authoritative book provides all the essential information required for advanced practitioners and analysts at this critical juncture.

Professional Reviews

"This book will give professional accountants a terrific review of the IFRS/USGAAP differences and their affects on financial statement transparency. This is a well written, succinct, technically accurate and, above all, timely book." - Professor Morris McInnes, Associate Dean, Dean for Academic Affairs, Sawyer School of Management, Associate Dean - Accounting

Media Coverage

WebCPA

"Those who breathed a sigh of relief when current Securities and Exchange Commissioner Mary Shapiro threw her predecessor's ambitious timeline for the adoption of International Financial Reporting ...

Read more

Media Enquiries

If you'd like to get in touch with the author for interview or comment, or you'd like a review copy of this product,
please contact us at pr@harriman-house.com or call +44 (0)1730 269809.

Rights

For information on available rights, please contact rights@harriman-house.com

Bulk purchases

Discounts for bulk purchases and there are premium editions available. Please contact specialsales@harriman-house.com for a quote.

Harriman House

Titles

Authors

Press

Trade

Enter your email address to receive your free ebook

By requesting this free eBook, you agree to let us email you
about future Harriman House offers. We will not sell your details
to a third party and you can un-subscribe at any time.
A valid email address is required to receive your download link.