MODERN ADVANCRD ACCOUNTING continues to feature a balanced presentation of advanced accounting topics. The author presents a clear analysis of the problems that arise in the application of those underlying concepts to specialized accounting entities - partnerships, branches, affiliated companies, govemmental entitites, nonprofit organizations, and estates and trusts - and on topics such as segments of business enterprises, interim reporting, reporting for the Securities and Exchange Commission, international accounting standards, accounting for multinational enterprises, and bankruptcy. This new edition has been updated to reflect changes in accounting practices and accounting education. The author's clear, concise writing style, and his use of a highly accessible five-part chapter organization helps students learn and retain the key concepts and procedures presented. Ample practice material is presented at the end of each chapter through review questions, exercises, cases, and problems. Extensive illustrations throughout the text provide students with visual learning devices to reinforce key subject material. A straightforward technique for teaching consolidated financial statements requires less number crunching by not using the trial balance approach. New to this Edition: The text has been updated to reflect recommendations from the A.E.C.C. For example, a number of new cases requiring analytical and conceptual thinking on financial accounting and ethical issues have been added, some of which require students to research suggested outside references. Coverage of ethics continues to be emphasized with a new Chapter One, Ethical Issues in Advanced Accountings, featuring an expanded discussion of the ethical codes of the Institute of Management Accountants, the Financial Executives Institute, and the American Institute of Certified Public Accountants. Two new chapters deal with international issues: Chapter 18, "International Accounting Standards,u which also incorporates accounting for foreign currency translations; and Chapter 19, "Translation of Foreign Currency Financial Statements". Pedagogical improvements include a substantial increase in the number of multiple-choice questions and other exercise material and a reduction of long, complex problems. The text features a new glossary of key terms at the end of the book. in addition, there is no longer reference to professional examinations in this edition. Many other chapters have been updated to reflect recent pronouncements by accounting rule-making bodies, including: FASB Statement No. 9, "Accounting for Income Taxes" (Ch. 10) GASB Statement No. 11 "Measurement Focus and Basis of Governmental Fund Accounting" (Ch. 12) FASB Statement "Financial Statements of Nonprofit Organizations" and FASB Statement "Accounting for Contributions Received and Contributions Made" (Ch. 15) FASB Statement No. 105 ODisclosure of Information about Financial Instruments with Off-Balance Shoot Risk...", FASB Statement No. 107 "Disclosures about Fair Value of Financial Instruments", and IAC Statement No. 21 "Accounting for the Effects of Changes in Foreign Exchange Rates" (Ch.' 18).
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