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Financial Accounting, IFRS Edition: 2nd Edition

Book Description

For colleges and universities around the world, Financial Accounting IFRS, 2nd Edition by Jerry J. Weygandt, Paul D. Kimmel, and Donald E. Kieso, is designed to assist students learning accounting topics under the rules of IFRS. The book addresses every accounting topic from the perspective of IFRS and includes examples based on international companies. Following the reputation for accuracy, comprehensiveness, and currency, this highly anticipated new edition retains key features, such as the table of contents, comprehensive problem sets, and accuracy, on which users of Weygandt Financial Accounting IFRS have come to rely. The focus of this text in on international companies, discussing financial accounting principles and procedures within the context of IFRS, and providing end-of-chapter exercises and problems that present students with foreign currency examples such as the yen or euro.

Students using WileyPLUS do real accounting, get real results. WileyPLUS is a student-centered learning and assessment online environment, where students complete automatically graded homework, get feedback on their answers, and access learning materials like the eText at the point of learning. Students come to class prepared because the program is a designed to meet the needs of today's accounting classroom with an innovative question design that facilitates effective learning of accounting concepts, skills, and procedures.

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Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright
  4. Brief Contents
  5. Features of the Second Edition
  6. Content Changes by Chapter
  7. WileyPLUS: Beyond Books
  8. Contents
  9. Chapter 1: Accounting in Action
    1. Knowing the Numbers
    2. What Is Accounting?
    3. The Building Blocks of Accounting
    4. The Basic Accounting Equation
    5. Using the Accounting Equation
    6. Financial Statements
    7. APPENDIX 1A: Accounting Career Opportunities
    8. Another Perspective
  10. Chapter 2: The Recording Process
    1. Accidents Happen
    2. The Account
    3. Steps in the Recording Process
    4. The Recording Process Illustrated
    5. The Trial Balance
    6. Another Perspective
  11. Chapter 3: Adjusting the Accounts
    1. What Was Your Profit?
    2. Timing Issues
    3. The Basics of Adjusting Entries
    4. The Adjusted Trial Balance and Financial Statements
    5. APPENDIX 3A: Alternative Treatment of Prepaid Expenses and Unearned Revenues
    6. APPENDIX 3B: Concepts in Action
    7. Another Perspective
  12. Chapter 4: Completing the Accounting Cycle
    1. Speaking the Same Language
    2. Using a Worksheet
    3. Closing the Books
    4. Summary of the Accounting Cycle
    5. The Classified Statement of Financial Position
    6. APPENDIX 4A: Reversing Entries
    7. Another Perspective
  13. Chapter 5: Accounting for Merchandising Operations
    1. Who Doesn't Shop?
    2. Merchandising Operations
    3. Recording Purchases of Merchandise
    4. Recording Sales of Merchandise
    5. Completing the Accounting Cycle
    6. Forms of Financial Statements
    7. APPENDIX 5A: Periodic Inventory System
    8. APPENDIX 5B: Worksheet for a Merchandising Company
    9. Another Perspective
  14. Chapter 6: Inventories
    1. “Where Is That Spare Bulldozer Blade?”
    2. Classifying Inventory
    3. Determining Inventory Quantities
    4. Inventory Costing
    5. Inventory Errors
    6. Statement Presentation and Analysis
    7. APPENDIX 6A: Inventory Cost Flow Methods in Perpetual Inventory Systems
    8. APPENDIX 6B: Estimating Inventories
    9. APPENDIX 6C: LIFO Inventory Method
    10. Another Perspective
  15. Chapter 7: Fraud, Internal Control, and Cash
    1. Minding the Money in Moose Jaw
    2. Fraud and Internal Control
    3. Cash Controls
    4. Control Features: Use of a Bank
    5. Reporting Cash
    6. Another Perspective
  16. Chapter 8: Accounting for Receivables
    1. Are You Going to Pay Me—or Not?
    2. Types of Receivables
    3. Accounts Receivable
    4. Notes Receivable
    5. Statement Presentation and Analysis
    6. Another Perspective
  17. Chapter 9: Plant Assets, Natural Resources, and Intangible Assets
    1. How Much for a Ride to the Beach?
    2. Plant Assets
    3. Extractable Natural Resources
    4. Intangible Assets
    5. Statement Presentation and Analysis
    6. APPENDIX 9A: Exchange of Plant Assets
    7. Another Perspective
  18. Chapter 10: Liabilities
    1. Financing His Dreams
    2. Current Liabilities
    3. Non-Current Liabilities
    4. APPENDIX 10A: Present Value Concepts Related to Bond Pricing
    5. APPENDIX 10B: Effective-Interest Method of Bond Amortization
    6. APPENDIX 10C: Straight-Line Amortization
    7. APPENDIX 10D: Payroll-Related Liabilities
    8. Another Perspective
  19. Chapter 11: Corporations: Organization, Share Transactions, Dividends, and Retained Earnings
    1. To the Victor Go the Spoils
    2. The Corporate Form of Organization
    3. Accounting for Share Transactions
    4. Dividends
    5. Retained Earnings
    6. Statement Presentation and Analysis
    7. APPENDIX 11A: Statement of Changes in Equity
    8. APPENDIX 11B: Book Value—Another per Share Amount
    9. Another Perspective
  20. Chapter 12: Investments
    1. Playing for Fun and Profit
    2. Why Corporations Invest
    3. Accounting for Debt Investments
    4. Accounting for Share Investments
    5. Valuing and Reporting Investments
    6. APPENDIX 12A: Preparing Consolidated Financial Statements
    7. Another Perspective
  21. Chapter 13: Statement of Cash Flows
    1. What Should We Do with This Cash?
    2. Statement of Cash Flows: Usefulness and Format
    3. Preparing the Statement of Cash Flows—Indirect Method
    4. Using Cash Flows to Evaluate a Company
    5. APPENDIX 13A: Using a Worksheet to Prepare the Statement of Cash Flows—Indirect Method
    6. APPENDIX 13B: Statement of Cash Flows—Direct Method
    7. APPENDIX 13C: Statement of Cash Flows—T-Account Approach
    8. Another Perspective
  22. Chapter 14: Financial Statement Analysis
    1. Making Money the Old-Fashioned Way
    2. Basics of Financial Statement Analysis
    3. Horizontal Analysis
    4. Vertical Analysis
    5. Ratio Analysis
    6. Earning Power and Irregular Items
    7. Quality of Earnings
    8. Another Perspective
  23. Appendix A: Specimen Financial Statements: Samsung Electronics Co., Ltd.
  24. Appendix B: Specimen Financial Statements: Nestlé S.A.
  25. Appendix C: Specimen Financial Statements: Zetar plc
  26. Appendix D: Specimen Financial Statements: Tootsie Roll Industries, Inc.
  27. Appendix E: Time Value of Money
    1. Nature of Interest
    2. Future Value Concepts
    3. Present Value Concepts
    4. Using Financial Calculators
  28. Appendix F: Payroll Accounting
    1. Accounting for Payroll
    2. Employer Payroll Taxes
    3. Internal Control for Payroll
  29. Appendix G: Subsidiary Ledgers and Special Journals (available at www.wiley.com/college/weygandt)
    1. Expanding the Ledger—Subsidiary Ledgers
    2. Expanding the Journal—Special Journals
  30. Appendix H: Other Significant Liabilities
    1. Provisions and Contingent Liabilities
    2. Lease Liabilities
    3. Additional Liabilities for Employee Fringe Benefits
  31. Company Index
  32. Subject Index