Financial Accounting Using Ifrs
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Persons
Michelle L. Hanlon is the Howard W. Johnson Professor and Deputy Dean for Faculty and Research at the MIT Sloan School of Management. She has taught undergraduates, MBA students, Executive MBA students, and Masters of Finance students. She is the winner of the 2021 Outstanding MBA Teacher Award, the 2020 MIT Teaching with Digital Technology Award, and the 2013 Jamieson Prize for Excellence in Teaching at MIT Sloan.
Professor Hanlon's research focuses primarily on the intersection of financial accounting and taxation. She has published research studies in all of the top accounting and finance journals and the leading field journals in taxation in accounting and economics. She has won many awards for her research including the Distinguished Contribution to the Accounting Literature Award from the American Accounting Association, being named a Presidential Scholar by the American Accounting Association, and many others. Professor Hanlon has served on several editorial boards and served as one of the senior editors at the Journal of Accounting and Economics for over 15 years. Professor Hanlon is a co-author on two other textbooks: Financial Accounting, entering its eighth edition, and Intermediate Accounting, entering its fourth edition. She has testified in front of the U.S. Senate Committee on Finance and twice to the U.S. House of Representatives Committee on Ways and Means about tax and accounting issues. She served as a U.S. delegate to the American-Swiss Young Leaders Conference in 2010 and worked as an Academic Fellow at the U.S. House Ways and Means Committee in 2015. She served on the Tax Expenditure Commission for the Commonwealth of Massachusetts and serves on the academic advisory board to the International Tax Policy Forum, Washington, DC.
She earned her doctorate degree at the University of Washington. Prior to joining MIT, she was a faculty member at the University of Michigan. She worked at KPMG prior to earning her PhD.
Robert Magee s Keith I. DeLashmutt Professor of Accounting Information and Management at the Kellogg School of Management at Northwestern University. He received his A.B., M.S. and Ph.D. from Cornell University. Prior to joining the Kellogg faculty in 1976, he was a faculty member at the University of Chicago′s Graduate School of Business. For academic year 1980-81, he was a visiting faculty member at IMEDE (now IMD) in Lausanne, Switzerland.
Professor Magee′s research focuses on the use of accounting information to facilitate decision-making and control within organizations. He has published articles in The Accounting Review, the Journal of Accounting Research, the Journal of Accounting and Economics, and a variety of other journals. He is the author of Advanced Managerial Accounting and co-author (with Thomas R. Dyckman and David H. Downes) of Efficient Capital Markets and Accounting: A Critical Analysis. The latter book received the Notable Contribution to the Accounting Literature Award from the AICPA in 1978. Professor Magee has served on the editorial boards of The Accounting Review, the Journal of Accounting Research, the Journal of Accounting and Economics and the Journal of Accounting, Auditing and Finance. From 1994-96, he served as Editor of The Accounting Review, the quarterly research journal of the American Accounting Association. He received the American Accounting Association′s Outstanding Accounting Educator Award in 1999 and the Illinois CPA Society Outstanding Educator Award in 2000.
Professor Magee teaches financial accounting to MBA and Executive MBA students. He has received several teaching awards at the Kellogg School, including the Alumni Choice Outstanding Professor Award in 2003.
Glenn Pfeiffer is Professor of Accounting at the George L. Argyros School of Business and Economics at Chapman University. He received his M.S. and Ph.D. from Cornell University after he earned a bachelor′s degree from Hope College. Prior to joining the faculty at the Argyros School, he held appointments at the University of Washington, Cornell University, the University of Chicago, the University of Arizona, and San Diego State University.
Professor Pfeiffer's research focuses on financial reporting and capital markets. He has investigated issues relating to lease accounting, LIFO inventory liquidation, earnings per share, employee stock options, corporate reorganization, and technology investments. He has published articles in The Accounting Review, the Financial Analysts Journal, the International Journal of Accounting Information Systems, the Journal of Applied Business Research, the Journal of High Technology Management Research, the Journal of Accounting Education, and several other academic journals. In addition, he has published numerous case studies in financial accounting and reporting.
Professor Pfeiffer teaches financial accounting and financial analysis to undergraduate, MBA, and Executive students. He has also taught managerial accounting for MBAs. He has won several teaching awards at both the undergraduate and graduate levels.
Content
Preface
Brief Contents
Contents
Chapter 1: Introducing Financial Accounting
Roche
Demand for Accounting Information
Business Activities
Financial Statements
Financial Reporting Environment
Analyzing Financial Statements
Organisation of the Book
Appendix 1A: Conceptual Framework for Financial Reporting
Summary
Guidance Answers . . . You Make the Call
Key Ratios
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 2: Constructing Financial Statements
Canada Goose
Reporting Financial Condition
Reporting Financial Performance
Reporting on Equity
Journalizing and Posting Transactions
Analyzing Financial Statements
Summary
Guidance Answers . . . You Make the Call
Key Ratios
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 3: Adjusting Accounts for Financial Statements
Canada Goose
Accounting Cycle
Analyzing and Recording Transactions
Adjusting the Accounts
Constructing Financial Statements from Adjusted Accounts
Closing Temporary Accounts
Summarising the Accounting Cycle
Financial Statement Analysis
Summary
Guidance Answers . . . You Make the Call
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 4: Reporting and Analyzing Revenues and Receivables
TomTom
Reporting Operating Income
Reporting Accounts Receivable
Analyzing Financial Statements
Earnings Management
Appendix 4A: Reporting Nonrecurring Items
Summary
Guidance Answers . . . You Make the Call
Key Ratios
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 5: Reporting and Analyzing Inventory
VTech
Reporting Operating Expenses
Inventory Costing Methods
Financial Statement Disclosure
Analyzing Financial Statements
Appendix 5A: LIFO
Summary
Guidance Answers . . . You Make the Call
Key Ratios
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 6: Reporting and Analyzing Long-Term Operating Assets
Airbus
Introduction
Property, Plant, and Equipment (PPE)
Analyzing Financial Statements
Intangible Assets
Summary
Guidance Answers . . . You Make the Call
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 7: Reporting and Analyzing Liabilities
Samsung Electronics
Introduction
Current Liabilities
Long-Term Liabilities
Analyzing Financial Statements
Summary
Guidance Answers . . . You Make the Call
Key Ratios
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 8: Reporting and Analysing Leases, Pensions, and Income Taxes
Unilever
Introduction
Leases
Pensions
Accounting For Income Taxes
Analyzing Financial Statements
Summary
Guidance Answers . . . You Make The Call
Key Ratios
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 9: Reporting and Analyzing Shareholders' Equity
Inditex, S.A.
Introduction
Contributed Capital
Earned Capital
Analyzing Financial Statements
Earnings Per Share
Appendix 9A: Dilutive Securities: Further Considerations
Summary
Guidance Answers . . . You Make the Call
Key Ratios
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 10: Reporting and Analysing Financial Investments
SoftBank Group
Introduction
Fair Value: An Introduction
Passive Investments
Investments with Significant Influence
Investments with Control
Financial Statement Analysis
Appendix 10A: Equity Method Mechanics
Appendix 10B: Consolidation Accounting Mechanics
Appendix 10C: Accounting for Investments in Derivatives
Summary
Guidance Answers . . . You Make the Call
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 11: Reporting and Analyzing Cash Flows
Qantas
Purpose of the Statement of Cash Flows
Preparing the Statement of Cash Flows-Operating Activities
Preparing the Statement of Cash Flows-Investing and Financing Activities
Additional Detail in the Statement of Cash Flows
Analyzing Financial Statements
Appendix 11A: A Spreadsheet Approach to Preparing the Statement of Cash Flows
Summary
Guidance Answers . . . You Make The Call
Key Ratios
Key Terms
Multiple Choice
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Chapter 12: Analyzing and Interpreting Financial Statements
Vodafone Group Plc
Introduction
Vertical and Horizontal Analysis
Return on Investment
Liquidity and Solvency
Appendix 12A: Analyzing and Interpreting Core Operating Activities
Appendix 12B: Pro Forma Financial Statements
Appendix 12C: Measuring Return on Financial Leverage
Summary
Key Ratios
Key Terms
Multiple Choice
Guidance Answers . . . You Make the Call
Discussion Questions
Mini Exercises
Exercises
Problems
Cases and Projects
Solutions to Review Problems
Appendix A: Compound Interest and the Time Value of Money
Future Value Concepts
Present Value Concepts
Using Excel to Compute Time Value
Key Terms
Exercises
Appendix B: Data Analytics and Blockchain Technology
Data Analytics
Blockchain Technology
Summary
Video Resources For Tableau
Multiple Choice
Exercises
Problems
Index