Financial Accounting: IFRS Edition,
3rd Edition

Earl K. Stice, James D. Stice, W. Steve Albrecht, Monte R. Swain, Rong-Ruey Duh, Audrey Wenhsin Hsu

Financial Accounting: IFRS Edition
ISBN-13: 9789814962582
Copyright 2021 | Published
864 pages | List Price: USD $149.00

Financial Accounting, IFRS Edition, Third Edition serves as a guide for students to comprehend and give insights into accounting of the modern business world. This textbook will focus on core concepts and procedures based on the International Financial Reporting Standards (IFRS) and supported by real company examples including those in Asia. There are accounting items (titles) that now follow IFRS 9, and this is reflected in the various chapters of the book. The latest IFRS amendments are in this edition, specifically IFRS 16 which became effective on January 1, 2019. IFRS 16 shows the liabilities associated with the lease on the balance sheet. Students will learn to effectively use and prepare accounting information for decision making with various features that encourage critical thinking, highlight ethical considerations, and consider global implications. Emphasizing the relevancy of accounting to the business world, the text strives to highlight the ethical considerations and global implications of financial accounting decisions in our world.

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PART I: FINANCIAL REPORTING AND THE ACCOUNTING CYCLE
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: Ensuring the Integrity of Financial Information

PART II: OPERATING ACTIVITIES
6. Cash
7. Receivables
8. Inventory and the Cost of Sales
9. Completing the Operating Cycle

PART III: INVESTING AND FINANCING ACTIVITIES
10. Investments: Property, Plant, and Equipment and Intangible Assets
11. Financing: Long-Term Liabilities
12. Financing: Equity
13. Investments: Debt and Equity Securities

PART IV: OTHER DIMENSIONS OF FINANCIAL REPORTING
14. Statement of Cash Flows
15. Analyzing Financial Statements

Appendices
Appendix A: Taiwan Semiconductor Manufacturing Company
Limited and Subsidiaries Consolidated Financial Statements for the Years Ended December 31, 2019 and 2018 and Independent Auditors’ Report
Appendix B: Philips 2019 Financial Statements
Appendix C: Carrefour 2019 Financial Statements
Appendix D: Present Value Tables
Glossary
Index

  • Earl K. Stice

    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

    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

    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

    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

    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

    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.

  • IFRS-based text: The rationale and explanation for recognition, measurement, disclosure and reporting are based on IFRS and incorporated into the main text. The latest IFRS amendments are in this edition.

  • Restructured Chapters: Chapters 7 and 8 are changed following IFRS 15 for revenue recognition pertaining to variable consideration.

  • Updated the related regulations and the related accounting treatments by illustrating examples.

  • New questions, exercises and problems in the textbook.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

Cengage eBook: Financial Accounting: IFRS Edition 12 Months
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