Financial Accounting : A Global Approach » (New Edition)

Rod Monger currently holds a joint appointment as Associate Professor at the American University of Iraq and the Hong Kong University of Science and Technology.  He was previously on the faculty at the American University in Dubai.

The trend towards globalization has been accompanied by efforts to harmonize international accounting standards. The aim of harmonisation is to create a unified set of accounting rules or standards that are used and understood throughout the world.

Financial Accounting: A Global Approach has been written for students taking an introductory course in financial accounting and is one of the first texts to fully incorporate the International Financial Reporting Standards (IFRS), whilst acknowledging the plethora of other standards used worldwide today. An experienced teacher with students in the US, Dubai and Hong Kong, Rod Monger sets out to guide and assist the student reader to understand the complex nature of the global accounting system.

Students from anywhere in the world will find this text offers a very clear pedagogical framework with sound learning outcomes. Each chapter is structured around a rich source of learning tools, including:

On Your Own – short practice questions at the start of each chapter

Graphic illustrations – used wherever visual learning can help

Application Exercises and Problems and Terminology Practice quizzes - at the end of each chapter

Case Analyses – all chapters use case material to extend and enrich learning

At www.wileyeurope.com/college/mongerstudents can access more leaning tools such as quizzes and audio demos of worked examples at the companion website. Instructors can access a rich set of teaching tools including an Instructor’s Manual, PowerPoint slides, extensive Test Bank and additional Case Studies.

About the author vii

Prefac viii

Part I Understanding Financial Reports

1 The financial accounting reporting system 5

2 Accounting standards and ethics 65

3 The financial statements 113

Part II Preparing Financial Statements

4 The accounting process 181

5 Accrual and closing 233

6 Accounting information systems 301

Part III Reporting Financial Position

7 Nonfinancial assets 345

8 Financial assets and liabilities 427

9 Equity 501

Part IV Reporting Changes in Financial Position

10 Equity changes 545

11 Cash flows 589

Part V Evaluating Financial Statements

12 Comparability and consistency 631

13 Assurance systems 701

Glossary 759

Index 775