This unique text takes an innovative approach to advanced financial accounting topics. A combination of core chapters present critical material, while shorter modules throughout provide maximum flexibility for the instructor. The authors mirror the changing emphases and content in financial accounting. Coverage of new developments such as the latest FASB and GASB pronouncements is included. Throughout the text, the authors present a logical structure to analyze the issues rather than merely explain them. The accounting entity, as a unifying theme, underlies the many diverse advanced accounting topics.The text focuses on business combinations and consolidated financial statements as well as conceptual and income tax issues. Chapters 3 through 7 address consolidation of financial statements, using the complete equity method approach. To parallel current practice, the 1999 Exposure Draft Business Combinations and Intangible Assets is covered. Two unique chapters cover international operations with coverage of FASB Statement 52. The text also provides the only self-contained chapter on derivative financial instruments currently available in advanced financial accounting texts. Provisions of SFAS 133 are fully incorporated throughout these chapters with a discussion of the euro and its implications for risk management and reporting.
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