Consolidated Financial Reporting introduces and examines what is currently the most central and controversial area in financial reporting. In an innovative and distinctive way the author integrates concepts, techniques, controversies, and current practice. Techniques are introduced within a framework that shows why they work and what the figures mean. Controversial issues are grounded within modern accounting theory and practice. All core areas and relevant standards are covered, including:
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- Acquisition and merger accounting
- Fair values at acquisition
- Goodwill
- Consolidated cash flow statements
- Reporting consolidated financial performance
- Foreign currency translation
- Segmental reporting
- Off-balance sheet financing
- Related party transactions
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The book is designed so that readers with particular interests (for example, in technical matters or concepts and standards) can easily find their way through clearly marked sections. Materials are set into an international context.
This book is an extensive revision of, and successor to, Paul Taylor’s 1987 volume, Consolidated Financial Statements. Because of recent theoretical and institutional developments, an enormous amount of new material has been added, and new teaching approaches to many areas included.