Overview
Main description
Financial accounting is undergoing a period of unprecedented change. The FASB and IASB have been working together to issue converged accounting standards that will dramatically change key reporting areas, and more generally have sought to converge accounting standards over time. In late 2011, the SEC will announce its decision on whether large public companies in the U.S. will be able to choose whether to report under U.S. GAAP or IFRS or if all companies are anticipated to be reporting under IFRS in the near future. So, while there currently is considerable overlap between U.S. GAAP and IFRS, and that overlap is increasing as convergence continues, important differences remain.
To help instructors deal with the challenging environment, the Spiceland team is committed to providing current, comprehensive and clear coverage of intermediate accounting. The 7th edition reflects this commitment with the following innovations.
Table of contents
1. Environment and Theoretical Structure of Financial Accounting2. Review of the Accounting Process3. The Balance Sheet and Financial Disclosures4. The Income Statement and Statement of Cash Flows5. Income Measurement and Profitability Analysis6. Time Value of Money Concepts7. Cash and Receivables8. Inventories: Measurement9. Inventories: Additional Issues10. Property, Plant, and Equipment and Intangible Assets: Acquisition and Disposition11. Property, Plant, and Equipment and Intangible Assets: Utilization and Impairment12. InvestmentsAppendix A: DerivativesAppendix B: Dell Annual ReportAppendix C: IFRS Comprehensive Case
