International Corporate Reporting: Global and Diverse, 5th Edition (Paperback) book cover

International Corporate Reporting

Global and Diverse, 5th Edition

By Pauline Weetman, Ioannis Tsalavoutas, Paul Gordon

Routledge

400 pages | 6 Color Illus.

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Paperback: 9781138364998
pub: 2020-03-24
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Description

This textbook provides a comprehensive overview of international corporate reporting which enhances students’ understanding of diversity and convergence in the field.

The authors discuss the institutional and cultural context in which international corporate reporting has developed over the years as well as the global reach of IFRS Standards from the IASB throughout and beyond the European Union, into interest groups and emerging economies. Other key elements explored throughout the book include assurance through auditing and corporate governance, narrative reporting, strategic and corporate social responsibility, group accounting, current accounting issues and taxation in corporate reports. Indicative research examples show how the methods used in research papers may be understood and applied. Case studies outline short projects based on corporate cases, with related links to material on corporate websites. Helpful and reliable sources of information and data are identified through hyperlinks to accessible websites. End-of-chapter questions encourage discussion of the main issues. Throughout there is a focus on accountability and the information needs of stakeholders.

This new edition of a classic text is fully revised and updated in order to remain essential reading for students of international accounting and corporate reporting globally. The book will be an invaluable resource for postgraduate taught programmes and final-year undergraduate courses in accounting, finance and business studies.

Reviews

"This is an outstanding new (fifth) edition of a well-established international accounting textbook from a highly experienced team of authors. Notably, there is a valuable focus on cultural and institutional influences along with a comprehensive coverage of key reporting issues." — Professor Sid Gray, University of Sydney, Australia

"International Corporate Reporting is always part of my recommended textbooks to students across a wide variety of masters’ courses I have taught. It is a must for those who want to understand the current global corporate reporting landscape. And it is truly international in perspective!" — Paul André, PhD, CPA-CA, Professor of Accounting, HEC Lausanne, Switzerland

"International Corporate Reporting is about anything corporate reporting that is not financial accounting theory or financial statement preparation. It is logically structured, combines breadth with depth, and is impressive in its academic treatment of a great variety of relevant topics." — Carien van Mourik, Senior Lecturer in Accounting, The Open University, Faculty of Business and Law

Table of Contents

Contents

 

List of exhibits and case studies

Author biographies

Preface

Acknowledgements

Part 1 Institutions, Culture and Research methods

Chapter 1 Global corporate reporting

Learning outcomes

    1. Current trends in global corporate reporting
    2. Overview of corporate reporting
    3. Our approach in this book
    4. The language we use
    5. Establishing global authority in corporate reporting
    6. Challenging globalisation
    7. Summary and key points

Questions

References

Chapter 2 Institutional and external influences

Learning outcomes

2.1 Introduction

2.2 Factors influencing the development of accounting systems

2.3 The political and economic system

2.4 The legal system

2.5 The taxation system

2.6 The corporate financing system

2.7 The accounting profession

2.8 Religious institutions

2.9 Other influences

2.10 Indicative research examples

2.11. Summary and key points

Questions

References

Chapter 3 Cultural influences

Learning outcomes

3.1 Introduction

3.2 Defining culture

3.3 Culture and business

3.4 Culture and accounting

3.5 Is culture an important influence on accounting?

3.6 Indicative research examples

3.7 Summary and key points

Questions

References

Chapter 4 Classification of accounting systems

Learning outcomes

4.1 Introduction

4.2 Reasons for classifying accounting systems

4.3 Deductive and inductive classification

4.4 Approaches to classification

4.5 Development of classification studies

4.6 Is classification successful?

4.7 Summary and key points

Questions

References

Chapter 5 Measuring harmonisation and diversity

Learning outcomes

5.1 Introduction

5.2 Similarities and differences in the accounting methods used

5.3 Good news, bad news and earnings ‘conservatism’

5.4 Similarities and differences in narrative disclosure

5.5 Summary and key points

Questions

References

Part 2 Global reach of international standards

Chapter 6 Developing international financial reporting standards

Learning outcomes

6.1 Introduction

6.2 Structure for setting IFRS Standards

6.3 Operation of the IASB

6.4 Challenges to the IASB

6.5 The International Federation of Accountants

6.6 Indicative research examples

6.7 Summary and key points

Questions

References

Chapter 7 European accounting and reporting

Learning outcomes

7.1 Introduction

7.2 European Union (EU)

7.3 Accounting in EU member states

7.4 National standard setters in Europe

7.5 European Securities Markets Authority (ESMA)

7.6 Indicative research examples

7.7 Summary and key points

Appendix to chapter 7

Questions

References

Chapter 8 Global organisations and interest groups

Learning outcomes

8.1 Introduction

8.2 Political influence

8.3 Initiatives from the business community

8.4 Cooperation in the accountancy profession

8.5 Regional groups in the accountancy profession

8.6 Indicative research examples

8.7 Summary and key points

Questions

References

Chapter 9 Broadening the influence of IFRS Standards

Learning outcomes

9.1 Introduction

9.2 Differential reporting

9.3 Balancing national control with IFRS convergence

9.4 Public sector accounting standards

9.5 Indicative research examples

9.6 Summary and key points

Questions

References

Part 3 Assurance

Chapter 10 Auditing

Learning outcomes

10.1 Introduction

10.2 International Auditing and Assurance Standards Board

10.3 National monitoring and review of audit firms

10.4 Developing the audit report

10.5 Competition and audit reform

10.6 Indicative research examples

10.7 Summary and key points

Questions

References

Chapter 11 Corporate governance

Learning outcomes

11.1 Introduction

11.2 Organisation for Economic Cooperation and Development (OECD)

11.3 Corporate governance models

11.4 Corporate governance codes

11.5 Enforcement and ratings

11.6 Indicative research examples

11.7 Summary and key points

Questions

References

 

Part 4 Narrative corporate reporting

Chapter 12 Management commentary and strategic reporting

Learning outcomes

12.1 Introduction

12.2 Management discussion and analysis in the US

12.3 Management reports through the EU Accounting Directive

12.4 IASB Management commentary

12.5 Remuneration reports

12.6 Dual listing and investor communication

12.7 The meaning of ‘transparency’

12.8 Indicative research examples

12.9 Summary and key points

Questions

References

Chapter 13 Corporate social responsibility and sustainability

Learning outcomes

13.1 Introduction

13.2 Initiatives supported by the United Nations

13.3 Governmental-backed strategies

13.4 Global networks and interest groups

13.5 Market ratings

13.6 Is CSR reporting effective for sustainability?

13.7 Indicative research examples

13.8 Summary and key points

Questions

References

Part 5 Accounting and taxation

Chapter 14 Group reporting

Learning outcomes

14.1 Introduction

14.2 Group accounting

14.3 Goodwill and impairment

14.4 Associates and joint ventures

14.5 Foreign currency and hyperinflation

14.6 Summary and key points

Questions

References

Chapter 15 Current issues in accounting

Learning outcomes

15.1 Introduction

15.2 Fair value accounting

15.3 Investment properties

15.4 Revenue recognition

15.5 Research and development expenditure

15.6 Leases

15.7 Alternative performance measures (non-GAAP reporting)

15.8 Indicative research examples

15.9 Summary and key points

Questions

References

Chapter 16 Corporate tax reporting

Learning outcomes

16.1 Introduction

16.2 Tax systems

16.3 IAS 12 Accounting for income taxes

16.4 Tax planning and transfer pricing

16.5 Country-by-country reporting

16.6 Indicative research examples

16.7 Summary and key points

Questions

References

Part 6 National interests in an environment of global reporting

Chapter 17 USA

Learning outcomes

17.1 Introduction

17.2 Institutional and external influences

17.3 Development of accounting regulation

17.4 The corporate reporting system

17.5 Auditing and corporate governance

17.6 Indicative research examples

17.7 Summary and key points

Questions

References

Chapter 18 China

Learning outcomes

18.1 Introduction

18.2 Institutions

18.3 Development of accounting regulation

18.4 Corporate reporting framework

18.5 Auditing and corporate governance

18.6 Hong Kong

18.7 Indicative research examples

Questions

References

Chapter 19 Japan

Learning outcomes

19.1 Introduction

19.2 Institutions

19.3 External influences on accounting

19.4 Development of accounting regulation

19.5 The corporate reporting system

19.6 Auditing and corporate governance

19.7 Indicative research examples

19.8 Summary and key points

Questions

References

Index

About the Authors

Pauline Weetman is Professor Emerita in Accounting at the University of Edinburgh and holds the Distinguished Academic Award 2005 of the British Accounting and Finance Association. She is a co-editor of the Routledge Companion to Accounting in Emerging Economies.

Ioannis Tsalavoutas is Professor of Accounting and Finance at the University of Glasgow and holds a PhD in Accounting from the University of Edinburgh. His research on financial accounting and reporting has featured in leading journals. He is a co-editor of the Routledge Companion to Accounting in Emerging Economies.

Paul Gordon is a lecturer in accounting and finance at Heriot-Watt University, having previously held positions at Glasgow, Aberdeen and Bangor. His teaching interests include international accounting and financial analysis.

Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS001010
BUSINESS & ECONOMICS / Accounting / Financial
BUS001050
BUSINESS & ECONOMICS / Accounting / Standards (GAAP, IFRS, etc.)