Students' Guide to Accounting and Financial Reporting Standards

The process for setting accounting standards is dynamic, and standards are constantly revised, updated or replaced. Accounting and Financial Reporting Standards has gained an excellent reputation for its up-to-date, comprehensive and accessible coverage of accounting standards and now in its seventh edition it has been thoroughly revised to include all new standards and also changes to existing standards. The book has been written with the student in mind and explains in clear language and with the use of many actual company examples the complexities of each standard and the background to the national and international standard-setting process. Previous editions have been recommended reading for many courses, including those of universities, professional bodies (CIMA, Accounting Technicians) and also A-level Examining Boards.

Key features

• Thoroughly and regularly updated to include all changes and new standards as of February 1999 - up to and including FRS 15.
• Covers the main requirements of every standard.
• Uses many actual company account extracts to show the practical aspects of accounting standards.
• Numerous flow charts illustrate key features and processes.
• Examination questions and answers are provided.
• Major changes to standards made between editions will be available from Pearson Education.

• Preface
• Acknowledgements
• 1. An introduction to standards
• 2. Accounting policies: SSAP 2
• 3. Asset valuation (1): SSAPs 4 & 19 and FRS 15
• 4. Asset valuation (2): SSAPs 13 & 21 and FRSs 10 & 11
• 5. Asset valuation (3): SSAP 9
• 6. Capital instruments and derivatives: FRSs 4 & 13
• 7. Taxation: SSAPs 5, 8 & 15
• 8. Reporting financial performance & earnings per share: FRSs 3 & 14
• 9. The substance of transactions & related parties: FRSs 5 & 8
• 10. Segmental reporting: SSAP 25
• 11. Post balance sheet events, provisions and contingencies: SSAP 17 and FRS 12
• 12. Cash flow statements: FRS 1
• 13. Consolidated financial statements: FRSs 2, 6, 7 & 9
• 14. Foreign currecy translation: SSAP 20
• 15. Accounting for pension costs: SSAP 24
• 16. Current topics and future developments
• Appendix 1: Current cost accounting: SSAP 16 (withdrawn)
• Appendix 2: Answers to examination questions
• Index