By Richard Baker, Theodore Christensen, David Cottrell
The 10th variation of complex monetary Accounting is an updated, finished, and hugely illustrated presentation of the accounting and reporting ideas and strategies utilized in various enterprise entities. This variation maintains to supply robust insurance of complicated accounting subject matters, with readability of presentation and built-in insurance in line with non-stop case examples. The textual content is very illustrated with entire displays of worksheets, schedules, and monetary statements in order that scholars can see the advance of every subject. Inclusion of all contemporary FASB and GASB pronouncements and the ongoing deliberations of the authoritative our bodies supply a present and modern textual content for college students getting ready for the CPA exam and present perform. This has develop into in particular vital given the new speedy speed of the authoritative our bodies in facing significant matters having far-reaching The book's development block procedure introduces recommendations with basic examples after which progressively introduces complexity, permitting scholars to simply retain speed with the material.
The key strengths of this article are the transparent and readable discussions of techniques and the certain demonstrations of suggestions via illustrations and reasons. the numerous favorable responses to past versions from either scholars and teachers be certain our trust that transparent presentation and finished illustrations are necessary to studying the delicate issues in a sophisticated accounting path.
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Extra resources for Advanced Financial Accounting (10th Edition)
Indd 9 12/28/12 4:02 AM Confirming Pages 10 Chapter 1 Intercorporate Acquisitions and Investments in Other Entities Blaine Company records the transfer of assets and the issuance of stock (at the book value of the assets) as follows: (2) Cash Inventory Land Building Equipment Accumulated Depreciation Common Stock, $2 par Additional Paid-In Capital Record the receipt of assets and the issuance of $2 par common stock. 70,000 50,000 75,000 100,000 250,000 110,000 200,000 235,000 ACCOUNTING FOR EXTERNAL EXPANSION: BUSINESS COMBINATIONS LO 1-4 Understand and explain the differences between different forms of business combinations.
BellSouth Corp. Citicorp AT&T Broadband & Internet Services Pfizer Inc. Wyeth Corp. SBC Communications Inc. Ameritech Corp. , BankAmerica Corp. Charlotte, NC Vodafone Group PLC AirTouch Communications Inc. 0 The acquiring company accounts for the combination by recording each asset acquired, each liability assumed, and the consideration given in exchange at fair value. Acquisition of Stock A business combination effected through a stock acquisition does not necessarily have to involve the acquisition of all of a company’s outstanding voting shares.
Indd xxviii 507 Parent Company Entries 509 Consolidation Worksheet 509 Consolidation Income Tax Issues 512 Tax Allocation Procedures When Separate Tax Returns Are Filed 512 Allocation of Tax Expense When a Consolidated Return Is Filed 513 Tax Effects of Unrealized Intercompany Profit Eliminations 515 Consolidated Earnings per Share 519 Computation of Diluted Consolidated Earnings per Share 519 Computation of Consolidated Earnings per Share Illustrated 520 Summary of Key Concepts Key Terms 523 Questions 523 Cases 524 Exercises 525 Problems 531 522 Chapter 11 Multinational Accounting: Foreign Currency Transactions and Financial Instruments 542 Microsoft’s Multinational Business 542 Doing Business in a Global Market 543 The Accounting Issues 544 Foreign Currency Exchange Rates 545 The Determination of Exchange Rates 545 Direct versus Indirect Exchange Rates 545 Changes in Exchange Rates 547 Spot Rates versus Current Rates 549 Forward Exchange Rates 550 Foreign Currency Transactions 483 Illustration of Subsidiary Stock Dividends Impact on Subsequent Periods 485 Consolidation Following an Interim Acquisition 550 Foreign Currency Import and Export Transactions 552 Managing International Currency Risk with Foreign Currency Forward Exchange Financial Instruments 555 Derivatives Designated as Hedges 556 Forward Exchange Contracts 558 Case 1: Managing an Exposed Foreign Currency Net Asset or Liability Position: Not a Designated Hedging Instrument 560 Case 2: Hedging an Unrecognized Foreign Currency Firm Commitment: A Foreign Currency Fair Value Hedge 565 Case 3: Hedging a Forecasted Foreign Currency Transaction: A Foreign Currency Cash Flow Hedge 568 Case 4: Speculation in Foreign Currency Markets 570 31/01/13 9:32 AM Rev.