International Corporate Reporting

<p>This textbook provides a comprehensive overview of international corporate reporting which enhances students’ understanding of diversity and convergence in the field. </p><p>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.</p><p>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. </p> <p><i>List of exhibits and case studies</i></p><p>Author biographies</p><p>Preface</p><p>Acknowledgements</p><p>Part I Institutions, culture and research methods</p><p>Chapter 1 Global corporate reporting</p><p>Learning outcomes</p><p>1.1 Current trends in global corporate reporting</p><p>1.2 Overview of corporate reporting </p><p>1.3 Our approach in this book</p><p>1.4 The language we use</p><p>1.5 Establishing global authority in corporate reporting</p><p>1.6 Challenging globalisation</p><p>1.7 Summary and key points</p><p>Questions</p><p>References</p><p>Chapter 2 Institutional and external influences </p><p>Learning outcomes </p><p>2.1 Introduction </p><p>2.2 Factors influencing the development of accounting systems </p><p>2.3 The political and economic system </p><p>2.4 The legal system </p><p>2.5 The taxation system </p><p>2.6 The corporate financing system </p><p>2.7 The accounting profession </p><p>2.8 Religious institutions </p><p>2.9 Other influences </p><p>2.10 Indicative research examples </p><p>2.11. Summary and key points </p><p>Questions </p><p>References </p><p>Chapter 3 Cultural influences </p><p>Learning outcomes </p><p>3.1 Introduction </p><p>3.2 Defining culture </p><p>3.3 Culture and business </p><p>3.4 Culture and accounting </p><p>3.5 Is culture an important influence on accounting? </p><p>3.6 Indicative research examples </p><p>3.7 Summary and key points </p><p>Questions </p><p>References </p><p>Chapter 4 Classification of accounting systems</p><p>Learning outcomes</p><p>4.1 Introduction </p><p>4.2 Reasons for classifying accounting systems </p><p>4.3 Deductive and inductive classification </p><p>4.4 Approaches to classification </p><p>4.5 Development of classification studies </p><p>4.6 Is classification successful? </p><p>4.7 Summary and key points </p><p>Questions </p><p>References </p><p>Chapter 5 Measuring harmonisation and diversity</p><p>Learning outcomes </p><p>5.1 Introduction </p><p>5.2 Similarities and differences in the accounting methods used </p><p>5.3 Good news, bad news and earnings ‘conservatism’ </p><p>5.4 Similarities and differences in narrative disclosure </p><p>5.5 Summary and key points </p><p>Questions </p><p>References </p><p>Part II Global reach of international standards</p><p>Chapter 6 Developing international financial reporting standards</p><p>Learning outcomes </p><p>6.1 Introduction </p><p>6.2 Structure for setting IFRS Standards </p><p>6.3 Operation of the IASB </p><p>6.4 Challenges to the IASB </p><p>6.5 The International Federation of Accountants </p><p>6.6 Indicative research examples </p><p>6.7 Summary and key points </p><p>Questions</p><p>References</p><p>Chapter 7 European accounting and reporting</p><p>Learning outcomes</p><p>7.1 Introduction </p><p>7.2 European Union (EU) </p><p>7.3 Accounting in EU member states</p><p>7.4 National standard setters in Europe</p><p>7.5 European Securities Markets Authority (ESMA)</p><p>7.6 Indicative research examples</p><p>7.7 Summary and key points</p><p>Appendix to Chapter 7</p><p>Questions</p><p>References</p><p>Chapter 8 Global organisations and interest groups</p><p>Learning outcomes</p><p>8.1 Introduction </p><p>8.2 Political influence </p><p>8.3 Initiatives from the business community </p><p>8.4 Cooperation in the accountancy profession </p><p>8.5 Regional groups in the accountancy profession</p><p>8.6 Indicative research examples</p><p>8.7 Summary and key points</p><p>Questions</p><p>References</p><p>Chapter 9 Broadening the influence of IFRS Standards</p><p>Learning outcomes </p><p>9.1 Introduction </p><p>9.2 Differential reporting</p><p>9.3 Balancing national control with IFRS convergence</p><p>9.4 Public sector accounting standards</p><p>9.5 Indicative research examples</p><p>9.6 Summary and key points</p><p>Questions</p><p>References</p><p>Part III Assurance</p><p>Chapter 10 Auditing</p><p>Learning outcomes</p><p>10.1 Introduction</p><p>10.2 International Auditing and Assurance Standards Board </p><p>10.3 National monitoring and review of audit firms</p><p>10.4 Developing the audit report</p><p>10.5 Competition and audit reform</p><p>10.6 Indicative research examples</p><p>10.7 Summary and key points</p><p>Questions</p><p>References</p><p>Chapter 11 Corporate governance </p><p>Learning outcomes</p><p>11.1 Introduction</p><p>11.2 Organisation for Economic Cooperation and Development (OECD) </p><p>11.3 Corporate governance models</p><p>11.4 Corporate governance codes</p><p>11.5 Enforcement and ratings</p><p>11.6 Indicative research examples</p><p>11.7 Summary and key points</p><p>Questions</p><p>References</p><p>Part IV Narrative corporate reporting</p><p>Chapter 12 Management commentary and strategic reporting</p><p>Learning outcomes</p><p>12.1 Introduction </p><p>12.2 Management discussion and analysis in the US</p><p>12.3 Management reports through the EU Accounting Directive</p><p>12.4 IASB Management commentary</p><p>12.5 Remuneration reports</p><p>12.6 Dual listing and investor communication</p><p>12.7 The meaning of ‘transparency’</p><p>12.8 Indicative research examples</p><p>12.9 Summary and key points</p><p>Questions</p><p>References</p><p>Chapter 13 Corporate social responsibility and sustainability</p><p>Learning outcomes</p><p>13.1 Introduction </p><p>13.2 Initiatives supported by the United Nations</p><p>13.3 Governmental-backed strategies </p><p>13.4 Global networks and interest groups</p><p>13.5 Market ratings</p><p>13.6 Is CSR reporting effective for sustainability?</p><p>13.7 Indicative research examples</p><p>13.8 Summary and key points</p><p>Questions</p><p>References</p><p>Part VI Accounting and taxation</p><p>Chapter 14 Group reporting</p><p>Learning outcomes</p><p>14.1 Introduction </p><p>14.2 Group accounting</p><p>14.3 Goodwill and impairment</p><p>14.4 Associates and joint ventures</p><p>14.5 Foreign currency and hyperinflation</p><p>14.6 Summary and key points</p><p>Questions</p><p>References</p><p>Chapter 15 Current issues in accounting</p><p>Learning outcomes</p><p>15.1 Introduction </p><p>15.2 Fair value accounting</p><p>15.3 Investment properties</p><p>15.4 Revenue recognition </p><p>15.5 Research and development expenditure</p><p>15.6 Leases</p><p>15.7 Alternative performance measures (non-GAAP reporting)</p><p>15.8 Indicative research examples</p><p>15.9 Summary and key points</p><p>Questions</p><p>References</p><p>Chapter 16 Corporate tax reporting</p><p>Learning outcomes</p><p>16.1 Introduction</p><p>16.2 Tax systems</p><p>16.3 IAS 12 <i>Accounting for income taxes</i></p><p>16.4 Tax planning and transfer pricing</p><p>16.5 Country-by-country reporting</p><p>16.6 Indicative research examples</p><p>16.7 Summary and key points</p><p>Questions</p><p>References</p><p>Part VI National interests in an environment of global reporting</p><p>Chapter 17 United States</p><p>Learning outcomes </p><p>17.1 Introduction</p><p>17.2 Institutional and external influences</p><p>17.3 Development of accounting regulation</p><p>17.4 The corporate reporting system</p><p>17.5 Auditing and corporate governance</p><p>17.6 Indicative research examples</p><p>17.7 Summary and key points</p><p>Questions</p><p>References</p><p>Chapter 18 China</p><p>Learning outcomes</p><p>18.1 Introduction</p><p>18.2 Institutions</p><p>18.3 Development of accounting regulation</p><p>18.4 Corporate reporting framework</p><p>18.5 Auditing and corporate governance</p><p>18.6 Hong Kong</p><p>18.7 Indicative research examples</p><p>Questions</p><p>References</p><p>Chapter 19 Japan</p><p>Learning outcomes</p><p>19.1 Introduction </p><p>19.2 Institutions</p><p>19.3 External influences on accounting</p><p>19.4 Development of accounting regulation</p><p>19.5 The corporate reporting system</p><p>19.6 Auditing and corporate governance</p><p>19.7 Indicative research examples</p><p>19.8 Summary and key points</p><p>Questions</p><p>References</p><p>Index</p>