Issues in Financial Accounting
By: Scott Henderson, Graham Peirson, Kathy Herbohn, Tracy Artiach, Bryan Howieson
About This Book
Issues in Financial Accounting addresses the controversial issues in financial accounting that have been debated by the preparers, users, auditors and regulators of financial statements. Henderson provides the best balance of technical and theoretical coverage in any Financial Accounting text on the market today, with its presentation of real-world examples, current debates and the underlying rationale for the accounting concepts demonstrated. Throughout the text, academic studies and professional accounting research are referenced to also provide a critical understanding of historical debates in financial accounting. The new 15th edition covers significant recent developments to the accounting standards in Australia and is based on the AASB standards and interpretations that have been issued up to the end of 2012. This includes the Australian Accounting Standard Board's (AASB) program of changes to make accounting standards equivalent to International Financial Reporting Standards.
AI Overview
Title: "Issues in Financial Accounting" by Scott Henderson, Graham Peirson, Kathy Herbohn, Tracy Artiach, and Bryan Howieson
Overview: "Issues in Financial Accounting" is a comprehensive textbook that combines theoretical concepts with practical applications to address key issues in financial accounting. The book is designed to help students develop a critical understanding of the topics in financial accounting, particularly in the Australian context.
Key Themes:
Institutional Setting and Conceptual Framework:
- The book begins by discussing the institutional arrangements for setting accounting standards in Australia (Chapter 1) and the conceptual framework of financial reporting, including the purpose, reporting entity, and qualitative characteristics (Chapters 2 and 3) .
Statement of Financial Position:
- It covers the statement of financial position, including an overview (Chapter 6), accounting for current assets (Chapter 7), property, plant, and equipment (Chapter 8), company income tax (Chapter 9), intangible assets (Chapter 10), leases (Chapter 11), employee benefits (Chapter 12), and financial instruments (Chapter 13) .
Practical Applications:
- The book includes real-world examples to illustrate the practical application of financial accounting concepts. It also reflects changes to the Australian Accounting Standards Board (AASB) standards and interpretations up to the end of September 2016 .
Updated Edition:
- The 16th edition of the book has been revised to include updates on accounting content and standards, ensuring that students are well-prepared for the latest developments in financial accounting .
Critical Reception: While specific reviews are not provided in the sources, the book's comprehensive coverage of financial accounting topics, its practical application, and its alignment with Australian accounting standards suggest that it is well-regarded in academic circles. The inclusion of real-world examples and updates to reflect recent changes in accounting standards further enhance its credibility and usefulness for students and professionals alike.
Edition Details:
- Edition Number: 16th edition
- Publication Date: April 12, 2017
- Pages: 1040 pages
- Format: Paperback
- Price: $156.25 (RRP $200.95)
Overall, "Issues in Financial Accounting" is a robust textbook that provides a thorough understanding of financial accounting principles, making it an essential resource for students and professionals in the field.