This book is being used at: University Of Otago, University of South Australia, University of Southern Queensland, University of the Sunshine Coast, University of Western Australia, University of Wollongong, Victoria University, Victoria Uni Wellington, Macquarie University, University of Melbourne, Swinburne University, University of Tasmania, University of Technology Sydney, CQU, Lincoln University, University of Notre Dame, University of Newcastle, University of Canberra, Australian National University, Charles Sturt University, Curtin University, Deakin University, Flinders University, University of Auckland, University of Adelaide, Queensland University of Technology, Monash University
The second edition of Loftus’ Financial Reporting has been updated for recent developments in the Australian Accounting Standards, including the release of new standards on accounting for revenue and leases and updates to AASB 9 Financial Instruments. All incorporated updates are in line with developments in the International Financial Reporting Standards (IFRSs). The new edition has been written in accordance with the requirements of the relevant pronouncement(s) in the IFRS Red Book 2016 published by the IASB, which includes the most recent version of each Accounting Standard and Interpretation at 13 January 2016.
A hallmark feature of the text is that it provides both a conceptual understanding and a practical application of the accounting standards. For students, an understanding of the conceptual basis of accounting and the rationale behind the principles is crucial to the consistent application of standards in a variety of practical contexts.
Available as a full colour printed textbook with an interactive eBook code included, this title enables you to master concepts and succeed in assessment by taking the roadblocks out of self-study, with features designed so you get the most out of learning. This rich digital resource brings financial reporting to life with media such as videos, case studies, interactives and revision materials embedded at the point of learning.
About the Authors
- Expansive Coverage: Designed to cover all the core topics from the two financial reporting units – Financial Reporting and Company Accounting.
- Practitioner Videos: Exclusive videos from high-profile practitioners from BDO provide insights into the real-world application of accounting.
- Scaffolding at the Point-of-Learning: Demo problems, interactive questions and other revision materials are embedded throughout the text to remove the roadblocks to self-study.
- Homework Tools: Algorithmic exercises to facilitate drill and skill homework.
Janice Loftus, BBus, MCom (Hons), FCPA, is an associate professor in accounting at the University of Adelaide.
Ken Leo, BCom (Hons), MBA, was an academic for over 40 years, including 20 years as a professor of accounting at Curtin University in Western Australia.
Sorin Daniliuc, is a lecturer in the Research School of Accounting at the Australian National University.
Noel Boys, BBus (Accountancy), Grad Dip Ed, ASA, is a Teaching Fellow at the University of Melbourne lecturing in Financial Accounting.
Belinda Luke, is an associate professor in the School of Accountancy at Queensland University of Technology.
Hong Nee Ang, BAcc (Hons), MBA, PhD, CPA, CA(M), is the Director of Master of Accounting and International Finance at Deakin University.
Karyn Byrnes, BBus (Accounting), CPA, was a lecturer at the University of Southern Queensland (USQ) for 12 years.
Chapter 1. Accounting regulation and the conceptual framework
Chapter 2. Application of accounting theory
Chapter 3. Fair value measurement
Chapter 4. Inventories
Chapter 5. Property, plant and equipment
Chapter 6. Intangible assets
Chapter 7. Impairment of assets
Chapter 8. Provisions, contingent liabilities and contingent assets
Chapter 9. Employee benefits
Chapter 10. Leases
Chapter 11. Financial instruments
Chapter 12. Income taxes
Chapter 13. Share capital and reserves
Chapter 14. Share-based payment
Chapter 15. Revenue
Chapter 16. Presentation of financial statements
Chapter 17. Statement of cash flows
Chapter 18. Accounting policies and other disclosures
Chapter 19. Earnings per share
Chapter 20. Operating segments
Chapter 21. Related party disclosures
Chapter 22. Sustainability and corporate social responsibility reporting
Chapter 23. Foreign currency transactions and forward exchange contracts
Chapter 24. Translation of foreign currency financial statements
Chapter 25. Business combinations
Chapter 26. Consolidation: controlled entities
Chapter 27. Consolidation: wholly owned entities
Chapter 28. Consolidation: intragroup transactions
Chapter 29. Consolidation: non-controlling interest
Chapter 30. Consolidation: other issues
Chapter 31. Associates and joint ventures
Chapter 32. Joint arrangements
Chapter 33. Insolvency and liquidation
Chapter 34. Accounting for mineral resources
Chapter 35. Agriculture