Advanced Accounting

In the newly revised eighth edition of Advanced Accounting, a decorated team of accounting professionals delivers authoritative and comprehensive coverage of all three methods of consolidated financial reporting: cost, partial equity, and complete equity. This invaluable work compares and contrasts United States and international principles, drawing reader attention to enduring differences between the two frameworks.
 
The authors draw on their extensive experience with US and international accounting to connect advanced accounting methods to practical applications with challenging exercises that feature the financial statements of real-world companies. With a consistent focus on clarity and accessibility, the authors highlight current business news stories and their relevance to core concepts. Ideal for accounting majors seeking an insightful and robust exploration of complex accounting methods, Advanced Accounting also includes:
* The latest changes by the Financial Accounting Standards Board and the Governmental Accounting Standards Board
* Discussions of the tax consequences of a variety of business combinations
* New end-of-chapter materials with additional problems, exercises, and questions
* New "In the News" boxes with updated stories
* Updated tutorial videos and international comparisons
* Revised test bank questions

Sommario

1 Introduction to Business Combinations and the Conceptual Framework 1
 
Learning Objectives 1
 
1.1 Growth Through Mergers 1
 
1.2 Nature of The Combination 4
 
1.3 Business Combinations: Why? Why Not? 5
 
1.4 Business Combinations: Historical Perspective 8
 
1.5 Terminology and Types of Combinations 11
 
1.6 Takeover Premiums 13
 
1.7 Avoiding the Pitfalls Before (and After) the Deal 15
 
1.8 Determining Price and Method of Payment in Business Combinations 17
 
1.9 Alternative Concepts of Consolidated Financial Statements 21
 
1.10 FASB'S Conceptual Framework 26
 
Summary 32
 
Questions 33
 
Analyzing Financial Statements 33
 
Exercises 36
 
ASC Exercises 38
 
2 Accounting for Business Combinations 39
 
Learning Objectives 39
 
2.1 Accounting Standards on Business Combinations: Current Status and Background 39
 
2.2 Illustration of Acquisition Accounting 45
 
2.3 Bargain Purchase Accounting Illustration (Purchase Price Below Fair Value of Identifiable Net Assets) 49
 
2.4 Measurement Period and Measurement Period Adjustments 50
 
2.5 Goodwill Impairment Test 51
 
2.6 Contingent Consideration (Earnouts) 56
 
2.7 Pro Forma Statements and Disclosure Requirement 61
 
2.8 Leveraged Buyouts 63
 
Summary 63
 
Questions 65
 
Analyzing Financial Statements 65
 
Exercises 70
 
Problems 77
 
3 Consolidated Financial Statements--Date of Acquisition 82
 
Learning Objectives 82
 
3.1 Definitions of Subsidiary and Control 84
 
3.2 Requirements for the Inclusion of Subsidiaries in the Consolidated Financial Statements 87
 
3.3 Reasons for Subsidiary Companies 88
 
3.4 Consolidated Financial Statements 89
 
3.5 Investments at the Date of Acquisition 90
 
3.6 Consolidated Balance Sheets: The Use of Workpapers 92
 
3.7 A Comprehensive Illustration--More ThanOne Subsidiary Company 109
 
3.8 Limitations of Consolidated Statements 112
 
Summary 113
 
Questions 114
 
Analyzing Financial Statements 115
 
Exercises 116
 
Problems 121
 
4 Consolidated Financial Statements After Acquisition 127
 
Learning Objectives 127
 
4.1 Accounting for Investments by the Cost, Partial Equity, and Complete Equity Methods 128
 
4.2 Consolidated Statements After Acquisition--Cost Method 137
 
4.3 Recording Investments in Subsidiaries--Equity Method (Partial or Complete) 149
 
4.4 Elimination of Intercompany Revenue and Expense Items 160
 
4.5 Interim Acquisitions of Subsidiary Stock 161
 
4.6 Consolidated Statement of Cash Flows 167
 
4.7 Illustration of Preparation of a Consolidated Statement of Cash Flows--Year of Acquisition 171
 
Summary 174
 
Questions 175
 
Analyzing Financial Statements 176
 
Exercises 178
 
Problems 184
 
5 Allocation and Depreciation of Differences Between Implied And Book Values 198
 
Learning Objectives 198
 
5.1 Computation and Allocation of the Difference Between Implied and Book Values to Assets and Liabilities of Subsidiary--Acquisition Date 201
 
5.2 Effect of Differences Between Implied and Book Values on Consolidated Net Income--Year Subsequent to Acquisition 207
 
5.3 Consolidated Statements Workpaper--Using the Cost Method 209
 
5.4 Controlling and Noncontrolling Interests in Consolidated Net Income and Retained Earnings--Using the Cost Method 221
 
5.5 Consolidated Statements Workpaper--Using Partial Equit

Riassunto

In the newly revised eighth edition of Advanced Accounting, a decorated team of accounting professionals delivers authoritative and comprehensive coverage of all three methods of consolidated financial reporting: cost, partial equity, and complete equity. This invaluable work compares and contrasts United States and international principles, drawing reader attention to enduring differences between the two frameworks.

The authors draw on their extensive experience with US and international accounting to connect advanced accounting methods to practical applications with challenging exercises that feature the financial statements of real-world companies. With a consistent focus on clarity and accessibility, the authors highlight current business news stories and their relevance to core concepts. Ideal for accounting majors seeking an insightful and robust exploration of complex accounting methods, Advanced Accounting also includes:
* The latest changes by the Financial Accounting Standards Board and the Governmental Accounting Standards Board
* Discussions of the tax consequences of a variety of business combinations
* New end-of-chapter materials with additional problems, exercises, and questions
* New "In the News" boxes with updated stories
* Updated tutorial videos and international comparisons
* Revised test bank questions

Dettagli sul prodotto

• Autori: Paul K Chaney, Paul K. Chaney, Chaney Paul K., Jeter, DC Jeter, Debra C Jeter, Debra C. Jeter, Debra C. (Vanderbilt University) Chaney Jeter, Jeter Debra C.
• Editore: Wiley, John and Sons Ltd
• Lingue: Inglese
• Formato: Tascabile
• Pubblicazione: 31.01.2023
• EAN: 9781119794653
• ISBN: 978-1-119-79465-3
• Pagine: 976
• Categorie: Scienze sociali, diritto, economia > Economia > Economia aziendale; Rechnungswesen, Accounting, Rechnungswesen / Diplom, Advanced Accounting