Written for managers and professionals in business and industry, this book helps the reader in:
* Understanding what is and is not IFRS
* Learning the complexities of IFRS implementation
* Appreciating the contribution of IFRS to corporate governance
The changeover from the mosaic of different heterogeneous national accounting standards to the International Financial Reporting Standards has not been easy. For many companies IFRS, and most particularly the concept of fair value in IAS 39, has amounted to a phase shift - which is prerequisite to achieving compliant financial reporting.
The research conducted by Dr. Chorafas for this book, documented that the process of meeting IFRS requirements presents opportunities and challenges to all enterprises. As many companies have found out, abandoning the classical accruals accounting for marking-to-market their transactions and portfolio positions, has not been easy. The conversion process has affected several functions within the organization including balance sheets, P&L statements, auditing, risk control, information systems, and management accounting.
This book is in made up of four parts:
* Part One focuses on business competition, standards boards, corporate accounting, and IAS 39
* The theme of Part Two, is the implementation of IFRS, exemplified through case studies on task forces and practical applications
* Part Three brings together IFRS and management accounting requirements, with emphasis on fair value.
* Part Four addresses itself to the contribution IFRS can make to better corporate governance, and to rebuilding the balance sheet
The book has many case studies based on actualexperiences. These range from the implementation of IFRS directives such as hedge accounting, to developing practices of real-time balance sheets; the help provided by sophisticated accounting solutions help in stress testing; and a comprehensive definition of the role of the audit committee.
* A clear and practical view of the complexities of IFRS implementation
* Includes practical case studies from real-life companies going through the process
* Pays particular attention to IAS 39 on Fair Value

Over the past two decades, there has been a paradigm shift in public administration and public sector accounting around the world, with increasing emphasis on good governance and accountability processes for government entities. This is all driven both by economic rationalism, and by changing expectations of what governments can and should do. An important aspect of this accountability and governance process is the establishment and effective functioning of a Public Accounts Committee (PAC), a key component of democratic accountability. With contributions from renowned scholars and practitioners, and using case studies from around the world, this research-based collection examines the rationales for current roles of the PACs and explores the links between PACs and National Audit Offices. It also compares PAC practices from developing and developed countries such as Africa, Asia, Pacific islands, and Europe with both Westminster and non-Westminster models of government. This will be valuable reading for academics, researchers, and advanced students in public management, public accounting and public sector governance.

Financial risk management has become increasingly important in the last years and a profound understanding of this subject is vital for managers, practitioners, investors and students of finance and related areas. This book provides the major trends regarding research on financial risk management, as well as the practices of different countries and economies. It is a compilation of the state of the art, new trends, and theoretical and empirical studies on the domain of enterprise risk. It is a critical reference source that discusses the financial instruments firms use to manage the different kind of financial risks, such as interest rate risk, corporate risk, credit risk, liquidity, and default risk. This book focuses on international risk management practices, and its relationship to firms' performance, and other dimensions of companies. It will present research on topics such as several types of financial risk, management of risk, hedging strategies, corporate governance and risk management, and behavioral finance and risk, and more. It is ideal for regulatory authorities, accountants, managers, academics, students, and researchers seeking coverage on the theoretical, empirical, and experimental studies that relate to the different themes in these global subjects.

The "Internal Audit Handbook" is a comprehensive, up-to-date presentation of the tasks and challenges facing internal audit. The handbook is based on the audit work of SAPA(R)'s global internal audit department, which obtained the highest score available, "Generally Conforms," during a quality assessment review performed by the Institute of Internal Auditors. It presents the Audit Roadmap, the process model of internal auditing developed at SAPA(R), describing all stages of an audit. The in-depth description provides information on issues such as the identification of audit fields, the annual audit planning, the organization and execution of audits as well as reporting and follow-up. The handbook also discusses management-related subjects, e.g. the organizational structure of an internal audit department. Separate chapters are dedicated to special topics like IT or SOX audits. The book also includes a CD for computer-based learning containing templates to put specific elements of theory into practice. Since the handbook is based on practical experience and gives numerous examples from audit practice it may serve as a guide to internal auditing for persons new in the field as well as provide experienced internal audit professionals with new insights.

FINANCIAL ACCOUNTING A Distillation of Experience by v 4 - GEORGE O. MAY Formerly senior partner, Price, Waterhouse Co., Certified Public Accountants lecturer at the Graduate School of Business Administration, Harvard University NEW YORK THE MACMILLAN COMPANY 1946 THE MACMILLAN COMPANY. All rights reserved no part of this book may be reproduced in any form without permission in writing from the publisher, except by a reviewer who wishes to quote brief passages in connection with a review written for inclusion in magazine or newspaper. Reprinted December, 1947 Reprinted May, 1949 PRINTED IN THE UNITED STATES OF A1CVUCA In this volume the American Institute of Account ants is commonly referred to as the Institute, the American Accounting Association as the Associa tion, and the National Association of Railroad and Utilities Commissioners as the NARUC. Foreword FINANCIAL ACCOUNTING is now generally recognized as be ing primarily historical in character and as having for its most important function the extraction and presentation of the essence of the financial experience of businesses, so that decisions affecting the present and the future may be taken in the light of the past. The rules of accounting, even more than those of law, are the product of experience rather than of logic. Similarly, this book is an attempt to extract and present the essence of an experience in financial accounting in the hope that it may be helpful to those called upon to deal with the problems of the future. It is not the result of a study and appraisal of authorities, and the views that are expressed are those of its author alone indeed, publication has been delayed until formal ties and official positionswhich might have been deemed, to imply more than a personal responsibility for them have been relinquished. In part, it is based on lectures delivered at the Graduate School of Busi ness Administration of Harvard University and papers writ ten for other purposes since 1936. A few passages have been reproduced from the volume which those who were then partners, with generous insight, prepared in that year to mark the twenty-fifth anniversary of the authors assumption of senior partnership. The writing of such a book seemed to be justified by the fact that the experience on which it is based extended over a period of exceptional interest and was enriched by close association with men of eminence here and abroad, not only vii viii FOREWORD in accounting but in government, business, finance, law, and economics. The obligation owed to those who have con tributed to that experience is great, but can be expressed to them here only collectively. Grateful recognition must, however, be given to the guidance, friendship, and inspiration of Arthur Lowes Dickinson, who by his abilities, his writings, and above all, by his example, earned an outstanding place among the independent accountants of America, to whom this book is gratefully dedicated. Contents CHAPTER PAGE I. THE NATURE OF FINANCIAL ACCOUNTING ... i II. THE USES OF ACCOUNTS AND THEIR INFLUENCE ON ACCOUNTING 14 HI. ACCOUNTING PRINCIPLES AND POSTULATES ... 37 IV. HISTORICAL 51 V. COST AND VALUE 86 VI. COST 108 VII. DEPRECIATION 118 VIII. DEPRECIATION AND REGULATION SINCE 1918 . . 130 IX. DEPRECIATION METHODS DEPLETION INTANGIBLES 145 X. INVENTORIES AND COMMITMENTS ACCOUNTS RECEIVABLE 172 XL LIABILITIES v 191 XII. INCOME 215 XIII. FORMS OFSTATEMENTS 240 XIV. ACCOUNTING AND REGULATION 254 GENERAL INDEX 267 CASES CITED 273 IX FINANCIAL ACCOUNTING A Distillation of Experience

"A must-read for any investor serious about knowing what they own. With the help of some of the best financial detectives, Michelle Leder provides a roadmap for delving beneath the surface –– where most investors dare not tread."
–Herb Greenberg, Columnist, TheStreet.com and Fortune magazine

"Obfuscators beware! Michelle Leder has cracked the code. In this invaluable guide to combing the footnotes of financial statements for indicators of accounting tricks and attempts to hide the bad news needles in a haystack of numbers. This is a clear, sensible, and, above all, practical guide that will be indispensable for anyone who invests in, does business with, or works for a corporation."
–Nell Minow, Editor, The Corporate Library

"Too many companies would prefer that you not read the footnotes," observes former SEC chairman Arthur Levitt. "That should be incentive enough to delve into them." In fact, not only do companies prefer you ignore the details they are required to report–the pesky particulars on exactly how they account for those whopping earnings–they take calculated steps to make this information as hard as possible to understand. But for those who know how to look, the facts that predict a company’s true prospects are usually hidden in plain sight.

Financial Fine Print gives you the tools you need to break down annual reports and SEC filings, make sense of the deliberately cryptic language of footnotes, and get the real goods on a potential investment.

To make money in today’s tough market, investors have to make deliberate, well-researched choices. To do this requires not only having the right information, but also knowing how to decode it. With their obscuring tactics, companies won’t help you any. So be advised: those who would help themselves–and expect to profit–should get down to the nitty-gritty of Financial Fine Print.

Advances in Management Accounting publishes thoughtful, well-developed articles across a broad spectrum of current topics in the field of management accounting, using a variety of research methods including survey research, field tests, corporate case studies and modeling. Volume 26 exemplifies the broad scope of Advances in Management Accounting, examining a number of areas within management accounting.

In this book, Jayne Godfrey and Keryn Chalmers explore the intricacies of the globalisation of accounting standards - arguably one of the most significant business developments of the wider globalisation process during the past two decades. They examine the key issues and implications of this harmonisation of accounting standards from the perspectives of a diverse range of worldwide stakeholders. Globalisation of Accounting Standards shows that globalisation approaches differ significantly because countries seek to maintain varying degrees of sovereignty over their regulations. International differences in economic, political, legal, religious and social characteristics also affect globalisation approaches and, in turn, influence national accounting standard-setting agendas. The book explores why countries relinquish their existing national accounting standard-setting regimes to join the global movement. It also seeks to resolve questions such as: To what extent are national incentives altruistic, economic, political or social? Who are the winners and losers in the process? This authoritative book is thoroughly researched and expertly informed. Written by both academics and regulators, it tackles a critical and controversial issue in the globalisation movement. As such, it will be of great interest to a wide-ranging audience including: international, national, private and public sector standard-setters, economic regulators, accounting academics and political economists and strategists.

The Sarbanes-Oxley Act is a mandatory requirement for all corporations listed in the US. Compliance is not an option.
This book is written as a working manual for the senior management to grasp the Act and its implications. It provides a section by section overview of the Act and the appropriate action to take in each case. The companion website accompanying the book provides Certification templates, a What to do and Check List and a description of the COSO Framework - the most popular Internal Control System framework.
There is coverage of how UK companies listed in, or doing business with America also have to comply with the Sarbanes-Oxley Act. A description of the UK version of SOX is also included.
The Appendix describes the (minor) variations for Canadian listed corporations based on Ontario Securities Commission and British Columbia Securities Commission rules.
* A simple explanation of the Sarbanes-Oxley Act for senior management looking for a no-nonsense guide
* Provides a systematic procedure for compliance
* Companion website includes templates and checklists to ease understanding and preparation for compliance"

Advances in Management Accounting (AIMA) publishes well-developed articles on a variety of current topics in management accounting that are relevant to researchers in both practice and academe. As one of the premier management accounting research journals, AIMA is well poised to meet the needs of management accounting scholars.
Featured in Volume 16 are articles on: Value-Creation Models For Value-Based Management: Review, Analysis, And Research Directions; Performance Standards And Managers Adoption Of Risky Projects; The Effects Of Organizational Culture On Budgetary Conflict: Integrative Versus Distributive Conflict Resolution; The Intervening Effect Of Information Asymmetry On Budget Participation And Segment Slack; Do Accounting Performance Measures Indeed Reduce Managerial Ambiguity Under Uncertainty; Capacity Utilization And The Befcu Model: A Field Study; An Application Of The American Productivity And Quality Center Approach To The Evaluation Of Hospital Performance; The Application Of The Verified Perceptual Bias To Negative Compensation Situations In Management Accounting Research; Activity-Based Cost Management And Manufacturing, Operational And Financial Performance: A Structural Equation Modelling Approach; Team Performance Measurement: A System To Balance Innovation And Empowerment With Control; An Experiment Of Group Association, Firm Performance, And Decision Dissemination Influences On Compensation; A Note On The Readability Of Professional Materials For Management Accountants.
Researchers in both practice and academe, as well as libraries, would be interested in the articles featured in the AIMA.
Advances in Management Accounting is now available online atScienceDirect full-text online of volumes 11 onwards.

With the help of industrialist Andrew Carnegie, the author of this remarkable book spent two decades interviewing hundreds of people renowned for their wealth and achievement. He distills the collective wisdom of Henry Ford, Thomas Edison, John D. Rockefeller, and others, offering priceless advice on positive thinking and overcoming adversity.

Giving voice to the marginalized, broadly defined, is the aim of this volume in its examination of social life increasingly marked by global inequality and the extension of market rationalities to all arenas. Revealing the outcome to populations, stakeholders, and the environment when policies resting on narrowly constrained logics are employed, these researchers lead the way in probing accountings participation in significant struggles of our times. In order to better appreciate the consequences of economic globalization, the works examine contemporary rhetoric, governance, politics, and strategies and the manner in which accounting technologies are integrated. These works maintain that transformation is inevitable and they search for possibilities of change that can be manifested in socially equitable practices and improved social justice by enhancing accountability.

Capitalizing on the extensive experience of the author in estimating shadow prices, Shadow Prices for Project Appraisal forges a bridge between theory and practice, explaining what shadow (or accounting) prices are, how they are used, and how they can be estimated. Starting from the basic principles of applied welfare economics, Elio Londero's book provides a step by step derivation of those formulas more frequently utilized in estimating shadow prices. The preparation and use of input-output techniques are examined in detail, and different estimation approaches and updating procedures are presented. Finally, a detailed case study of shadow prices for Colombia illustrates their practical application. This book will be essential reading for students and teachers interested in cost-benefit analysis, and in shadow prices as a specialized field of applied welfare economics. In addition, the book will be an invaluable source for applied economists and practitioners interested in calculating shadow prices.

Die Verschmelzung als wirtschaftlich und rechtlich engste Form der Unternehmensverbindung stellt in einer dynamischen Wirtschaft ein nie an Aktualität einbüßendes Thema dar. Umfassend und fachübergreifend werden neben betriebswirtschaftlichen auch handels- und gesellschaftsrechtliche Aspekte sowie steuerliche Fragestellungen betrachtet. Dabei bildet die Darstellung des Verschmelzungsvorgangs in Handelsbilanzen von Überträgerin und Übernehmerin den Schwerpunkt der Analyse. Das Bewertungswahlrecht zwischen Buchwertverknüpfung und Anschaffungskostenansatz der Übernehmerin in § 24 UmwG wird ausführlich für verschiedene Gegenleistungen untersucht. Durch zahlreiche Beispiele, Tabellen und Abbildungen ist das Buch für Wissenschaft und Praxis gleichermaßen geeignet.

"The Global Accounting History" four volume set aims to establish a benchmark reference source that covers the evolution of accounting, financial reporting and related institutions for all major economies in the world in a comparable way. Volume One addresses ten European economies, including France, Germany, Italy and the UK as well as the Netherlands, Belgium, Spain, Poland, Sweden, and Switzerland. Each chapter is authored by a specialist from the country concerned.

In the latest volume of Advances in Taxation, series editor John Hasseldine compiles cutting-edge, peer-reviewed studies from expert contributors to explore topics such as: the effects of level of government on trust in revenue agencies; whether understanding tax laws reduces charitable giving; the link between distributive justice and tax fairness judgements; the role of states' R&D tax credits effectiveness in business location; and consumption tax collection on cross-border online sales. Two further contributions separately study the role of designated permanently reinvested earnings (PRE) in the financial statements of multinational corporations. This volume is an exploration of the latest issues in tax and taxation theory, including empirical studies using a variety of research methods from different institutional settings and contexts. It is essential reading for anyone interested in tax policy and its impact in practice.

Too long? Too boring? Read by nobody? A thankless task? A bad report, maybe. Done well, however, the annual report is the vital calling card of any listed company. But how to do it well? How should it be put together and what should it say? What are the tips, tricks and secrets of producing what is often the first port of call for investors, and increasingly, other stakeholders? In this comprehensive new book, reporting and communications expert Claire Bodanis has brought together a team of specialists to produce a detailed how-to guide for this most difficult of corporate documents. Taking the principle of 'if you understand why you're doing something you'll do it better', Trust me, I'm listed reveals the hows, whys and wherefores of corporate reporting, from the art of how to tell a great (and true) story while keeping the regulators (and box tickers) happy, to how to work well with your agency, to how to manage senior stakeholders to meet the deadlines. It also includes a special addendum with tips on how to get the annual report done while working remotely. This book is a must-read for any company secretary, and any corporate reporter.

Returning to its roots in activism and economic justice, this issue exposes accounting practice as a contested terrain by examining its role as a social force encompassing issues of value, governance, ethics, politics, and class. Arguing that the view of the discipline as objective and fair is a myth, these papers illuminate the detrimental social consequences of failing to recognize accounting??'s role in the social environment. Investigating accounting's use of ???independence??? as a protective shield in obscuring winners and losers regarding financial activity, the papers illustrate accounting??'s contribution to the failures of free markets worldwide: systemic global poverty, questionable privatization of public enterprises and public goods, and greater divides between so-called first and third world nations. Revealing the integrated nature of regulation, accounting, and ethics, the papers in this volume question the logic of merely fine tuning current systems proposing instead visionary and innovative change by probing deeply into our beliefs, social practices, and consciousness.

Advances in Management Accounting publishes thoughtful, well-developed articles across a broad spectrum of current topics in the field of management accounting, using a variety of research methods including survey research, field tests, corporate case studies and modeling. Volume 25 exemplifies the broad scope of Advances in Management Accounting, examining a number of key areas in management accounting.

Basic accounting for non-accountants is an introductory text that covers both financial accounting and cost and management accounting. It is designed to equip students with a sound basic knowledge of both accounting fields. This title is ideally suited for students with little or no prior accounting background. It can be used for short courses, company in-house training programmes as well as individuals who wish to teach themselves. The title covers a wide range of topics relating to accountancy including: drawing up a basic financial statement; interpreting financial statements using ratio analysis; calculating the cost of products; preparing budgets; making short-term decisions. Each chapter concludes with a variety of tutorial exercises, including multiple-choice and discussion questions to test the student's knowledge and comprehension. A solutions manual is available from the publisher for instructors who prescribe the text.

Organizations are networks of conversations. In this groundbreaking book for executives, managers, coaches and educators, follow a new manager in a large organization, as she transforms her conversational capabilities with the help of an executive coach into an effective, visionary leader. Conversational capability is one of, if not the most important capabilities an individual or organization can possess. It is also the most challenging to measure and improve. From spouses and children in morning routines to bosses, employees and coworkers at the workplace to clients, customers, suppliers, and so on, conversations either rule our days completely or simply serve as clear boundaries to their success or failure. Conversational competency is at the heart of leadership, coaching, mentoring and creating sustainable value. Conversation Innovation is a compelling and engaging text at the forefront of this critically important subject matter. It is suited for corporate, academic and executive coaching audiences.

"Cutting Edge Internal Auditing" provides guidance and knowledge for every internal auditor, encouraging each to pioneer new ground in the development of their professional practices in all risk management, control and governance processes.

Serving as an excellent reference guide that develops a pattern of internal auditing now and for the future, this book explores the concept of "'cutting edge'" internal auditing as an imaginative adventure: demonstrating how this has influenced and will continue to influence the development of professionalism in internal auditing.

Built on the foundations of Jeffrey Ridley's extensive internal auditing experience across the public and private sectors, the author uses his articles and research to explore and develop the motivations, goals and categories of innovation in internal auditing today. It develops and brings up to date an imaginative internal auditing model, created and used by the author in the early 1980s, drawing on research and guidance by The Institute of Internal Auditors Inc., its Research Foundation and the Institute of Internal Auditors - UK and Ireland.

Each chapter stands alone by focusing on an individual internal auditing theme, considered from both the perspective of internal auditing and its customers to suggest an appropriate vision as a goal for every internal audit activity. Each chapter also includes self-assessment questions to challenge the readers understanding of its messages.

Accompanied by a CD ROM containing some of the author's training slides and seventy case studies, many written by leading internal audit practitioners, this book creates a vision for future cutting edge internal auditing.

The Handbook of Commercial Mortgage-Backed Securities is a cornerstone reference in this emerging sector of the structured finance market. This Second Edition provides updated coverage of the market, the instruments, the tools used to assess these securities, and tax accounting issues.
In addition to an overview of the commercial real estate finance and commercial property markets, this book also covers property-market framework for bond investors, the role of the servicer, an investor's perspective on commercial mortgage-backed coupon strips, defaults on commercial mortgages, assessing credit risk, an options approach to valuation and risk analysis, legal perspectives on disclosure issues, and federal income taxation.