Principles of Financial Accounting, IFRS Edition 2nd Edition
Earl K. Stice | James D. Stice | W. Steve Albrecht | Monte R. Swain | Rong-Ruey Duh | Audrey Wenhsin Hsu
ISBN-13: 9789814780674 | ISBN-10: 9814780677
© 2017 | Published |  800  Pages

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The Second Edition of Principles of Financial Accounting, IFRS Edition continues to guide students through the what, why, and how of financial accounting in today's business world. It provides streamlined coverage on core concepts and procedures based on the International Financial Reporting Standards (IFRS), with a wealth of real company examples and solved exercises to enhance student understanding.

This edition has been thoroughly revised to reflect the latest developments in accounting and the most current data for real companies. The most significant change is the incorporation of IFRS 9 and IFRS 15, which will become effective in 2018. Company examples have also been updated with the latest financial statements. Emphasizing the relevancy of accounting to the business world, this edition is perfect for any students, regardless of future career plans or goals.

    1. Accounting Information: Users and Uses
    2. Financial Statements: An Overview
    3. The Accounting Cycle: The Mechanics of Accounting
    4. Completing the Accounting Cycle
    5. Internal Controls and Cash
    6. Receivables
    7. Inventory and the Cost of Sales
    8. Completing the Operating Cycle
    9. Investments: Property, Plant, and Equipment and
    Intangible Assets
    10. Financing: Long-Term Liabilities
    11. Financing: Equity
    12. Investments: Debt and Equity Securities
    13. Statement of Cash Flows
    14. Analyzing Financial Statements
    Appendix A: Taiwan Semiconductor Manufacturing Company
    Limited and Subsidiaries Consolidated Financial Statements for
    the Years Ended December 31, 2015 and 2014 and Independent
    Auditors’ Report
    Appendix B: Philips 2015 Financial Statements
    Appendix C: Carrefour 2015 Financial Statements
    Appendix D: Present Value Tables

      • IFRS-based text: This edition incorporates the latest IFRS amendments throughout. Of particular importance is the inclusion of IFRS 9 and IFRS 15, which will become effective in January 2018. Chapter 6 (Receivables) and Chapter 12 (Investments) have been substantially revised to cover IFRS 15 and IFRS 9 respectively.
      • Principles-based learning: Following the spirit of IFRS, not only the accounting rules but also the underlying rationale of the rules and the background of the transactions that give rise to the accounting issues are explained.
      • Concepts and application approach: Learning objectives highlight the key concept, its importance, and how to apply it in a concise what/why/how format. The lively writing style and clear examples that follow effectively teach these core principles.
      • Local touch, global reach: Local but famous companies are used as illustrative examples. Meanwhile, world class companies are also included so that global view is not lost. Local business practices and regulations are also incorporated.
      • Updated real cases: Appendices include financial statements of TSMC, Philips, and Carrefour for the latest year. Illustrated examples in the main text also include available financial data of real companies for the most recent year.
    For more information about these supplements, or to obtain them, contact your Learning Consultant

    • Earl K. Stice is the PricewaterhouseCoopers Professor of Accounting in the School of Accountancy at Brigham Young University, where he has been on the faculty since 1998. He holds bachelor’s and master’s degrees from Brigham Young University and a PhD from Cornell University.

      James D. Stice is the Distinguished Teaching Professor in the Marriott School of Management at Brigham Young University. He is currently Associate Dean of the Marriott School. Dr. Stice served for eight years as the director of BYU’s MBA Program. He holds bachelor’s and master’s degrees in accounting from BYU and a PhD in accounting from the University of Washington.

      W. Steve Albrecht was the Andersen Distinguished Professor of Accountancy in the Marriott School of Management at Brigham Young University. He received a bachelor’s degree in accounting from BYU and M.B.A. and Ph.D. degrees from the University of Wisconsin. He is a Certified Public Accountant (CPA), Certified Internal Auditor (CIA), and Certified Fraud Examiner (CFE). He previously taught at both Stanford and the University of Illinois. Dr. Albrecht currently serves on five corporate boards of directors and has been an expert witness in 38 major fraud cases.

      Monte R. Swain received his Ph.D. in managerial accounting and information systems from Michigan State University. He currently serves as the Associate Director of the School of Accountancy and Information Systems where he is the Deloitte & Touche Professor of Accounting.

      Rong-Ruey Duh is a professor at the Department of Accounting, National Taiwan University (NTU). He earned his PhD from the University of Minnesota, Minneapolis. Dr. Duh was President of Taiwan Accounting Association and Chair of the Board of Directors for Accounting Research and Development Foundation, a non-profit organization responsible for setting financial accounting and auditing standards in Taiwan.

      Audrey Wenhsin Hsu is an associate professor at the Department of Accounting at National Taiwan University (NTU). Dr. Hsu earned her PhD from Lancaster University, United Kingdom. Her areas of research include international accounting standards, financial reporting quality, and corporate governance.