Financial accounting, reporting and regulation is a vast subject area of huge global importance, with interest rising significantly in the light of the ongoing global financial crisis.
The authors begin with a broad overview of the subject of accounting, setting the stage for a discussion on the theoretical and practical issues and debates regarding financial reporting, which are expanded on in the second part of the book. This includes how to define the reporting entity, recognition and measurement of the elements of financial statements, fair values in financial reporting and the costs and benefits of disclosure. The third part assesses the interest, need and theories behind the accounting, reporting and regulation industry, while parts four and five look at the institutional, social and economic aspects; with issues such as accounting for environmental management and, accounting regulation and financial reporting in Islamic countries, both issues of ever increasing importance.
This authoritative Companion presents a broad overview of the state of these disciplines today, and will provide a comprehensive reference source for students and academics involved in accounting, regulation and reporting.
Table of Contents
Part I: Accounting 1. What is Accounting? (Anne Britton) 2. Methodology in Financial Accounting Theory (Carien van Mourik) 3. Fundamental Issues in Financial Accounting and Reporting Theory (Carien van Mourik) 4. Continental European Accounting Theory: Evolution and Evaluation (Salme Näsi, Chiara Saccon, Sonja Wűstemann and Peter Walton) 5. English Language Theories of Financial Reporting (Christopher Napier) Part II: Reporting 6. Recognition and Measurement (Peter Walton) 7. Fair Value and Financial Reporting (David Cairns) 8. Costs and Benefits of Disclosure (Ann Gaeremynck and Mathijs van Peteghem) 9. Auditing (Christopher Humphrey, Anna Samsonova and Javed Siddiqui) Part III: (International) Accounting Standard Setting and Regulation 10. The Public Interest in International Financial Accounting, Reporting and Regulation (Carien van Mourik) 11. Perspectives on the Roles of and Need for Accounting Regulation (Lisa Baudot) 12. Economic Theory of Financial Reporting Regulation (John Christensen and Hans Frimor) 13. Global Convergence of Accounting Standards (Alfred Wagenhofer) 14. The Role of Conceptual Frameworks in Accounting Standard-Setting (Carien van Mourik and Peter Walton) 15. The Application of IFRS Across Different Institutional Environments (Bernard Raffournier) Part IV: Institutional Aspects of (International) Financial Reporting Regulation 16. The International Accounting Standards Board (Kees Camfferman) 17. Influences on the Standard-setting and Regulatory Process (Lisa Baudot and Peter Walton) 18. Stock Exchanges and International Financial Reporting Regulation (Philippe Danjou) 19. Auditors and International Financial Reporting (Kathryn Cearns) 20. Multinational Corporations and IFRS (Malcom Cheetham, Manfred Kaeser and Julie Scheiner) 21. The IFRS for SMEs (Paul Pacter) Part V: Social and Economic Aspects of (International) Financial Reporting Regulation 22. Socio-economic Consequences of IFRSs (Soledad Moya) 23. Turf Wars or Missionary Zeal: IFRS, IFAC, the World Bank and the IMF (Rachel Baskerville) 24. Accounting Regulation in Emerging Markets and Newly Industrialising Countries (Ahsan Habib) 25. Accounting Regulation and IFRS in Islamic Countries (Salim Aissat, Lotfi Boulkeroua, Mike Lucas and Carien van Mourik) 26. Accounting Tools for Environmental Management and Communication (Charles Cho and Marie-Andrée Caron)
Carien van Mourik is Lecturer in Accounting at the Open University Business School. Her research interests include financial accounting and reporting theory and the public interest in international financial accounting and reporting regulation
Peter Walton is Professor of Accounting at ESSEC Business School and co-director of the ESSEC-KPMG Financial Reporting Chair. Peter is the Chairman of the EAA Financial Reporting Standards Committee. He is also the editor of World Accounting Report and The Routledge Companion to Fair Value and Financial Reporting (2007)
"a highly recommended book for every accounting scholar" – Accounting in Europe
"A comprehensive, up-to-date, and authoritative resource... This is an important, challenging resource for faculty, and graduate and upper-division students. Summing Up: Highly recommended. Academic, research, and professional collections." - Choice (D. C. Daly, Metropolitan State University, USA)
"This distinctive, original volume brings together an authoritative collection of authors on an important and topical set of issues; highly recommended!" - Richard Barker, Professor of Accounting, University of Oxford, UK