Test Bank for Contemporary Issues in Accounting 1st edition by Michaela Rankin 0730300269 9780730300267

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Product details:

• ISBN 10: 0730300269

• ISBN 13:9780730300267 

• Author: Michaela Rankin  

 Contemporary Issues in Accounting is written for upper level, advanced financial accounting subjects. The text explores advanced accounting concepts and policies by applying them to a range of contemporary accounting issues. The accounting topics discussed reflect the issues that are being considered in professional practice such as approaches to measurement, fair value accounting, the Conceptual Framework for financial reporting, corporate governance, environmental accounting and sustainability, earnings management and the financial indicators of corporate collapse.

Contemporary Issues in Accounting 1st Table of contents:

CHAPTER 1 Contemporary issues in accounting
Accounting theory
Why theory is needed
Types of theories
Evaluating and testing theories
Understanding the role of research
Research areas in accounting
Overview of chapters in this text
Summary
Review questions
Additional readings
End notes

CHAPTER 2 The Conceptual Framework for Financial Reporting
The role of a conceptual framework
History and evolution of the Conceptual Framework
The structure and components of the Conceptual Framework
Purpose, objective and underlying assumption of the Conceptual Framework
Qualitative characteristics of useful financial information
The elements of financial statements
The benefits of a conceptual framework
Problems with and criticisms of the Conceptual Framework
Summary
Review questions
Application questions
Additional readings and websites
End notes

CHAPTER 3 Standard setting
Institutional framework
Accounting standards
Rules-based versus principles-based standards
Theories of regulation
Theory and accounting regulation research
The political nature of setting accounting standards
Harmonisation
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 4 Measurement
Measurement in accounting
Measurement approaches and the accounting standards
Measurement and the quality of accounting information
Fair value
Stakeholders and the political nature of accounting measurement
Why measurement is a controversial accounting issue
Current measurement challenges
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 5 Theories in accounting
What value does theory offer?
Types of theories
Positive accounting theory
Institutional theory
Legitimacy theory
Stakeholder theory
Contingency theory
Using theories to understand accounting decisions
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 6 Products of the financial reporting process
Identification of the reporting entity
When information is reported
Manipulation of reported earnings
Exclusion of activities from the financial reporting process
Voluntary disclosures
Why entities voluntarily disclose
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 7 Corporate governance
The interest in corporate governance
What is corporate governance?
The need for corporate governance systems
Corporate governance guidelines and practices
Approaches to corporate governance
Developments and issues in corporate governance
Role of accounting and financial reporting in corporate governance
The role of ethics
International perspectives and developments
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 8 Capital market research and accounting
Capital market research and accounting
Research methods: event studies and value relevance
What the information perspective studies tell us
Do auditors or intermediaries add value to accounting information?
Value relevance
What value relevance studies tell us
The efficiency of capital markets
Behavioural finance
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 9 Earnings management
The importance of earnings
What is earnings management?
Methods of earnings management
Why do entities manage earnings?
Consequences of earnings management
Corporate governance and earnings management
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 10 Fair value accounting
The role of fair value in accounting
The traditional definition
AASB 13/IFRS 13 Fair Value Measurement
Fair values are specific, what factors should be considered?
Fair value techniques
Disclosures
Specific issues
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 11 Sustainability and environmental accounting
What is sustainability?
Sustainability reporting
Guidelines for sustainability reporting
Stakeholder influences
Environmental management systems
Climate change and accounting
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 12 International accounting
Definition of international accounting
Diversity of international accounting practice
Environmental influences on accounting
International adoption of IFRSs
FASB and IASB convergence
Multinational organisations
Summary
Review questions
Application questions
Additional readings
End notes

CHAPTER 13 Corporate failure
What is corporate failure?
Causes of corporate failure
Costs of failure
Predicting corporate failure
Indicators of corporate failure
Corporate governance issues
Regulation and political responses to corporate failure
The anatomy of a corporate failure
A case study: the global financial crisis

CHAPTER 14 Special reporting issues
Background
What expenditures should be capitalised?
Do intangibles pass the definition and recognition tests?
Implications of non-recognition of intangibles
Do heritage assets pass the definition and recognition tests?
Implications of recognition of heritage assets

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