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An Introduction to Modern Financial Reporting Theory
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An Introduction to Modern Financial Reporting Theory

First Edition


192 pages | SAGE Publications Ltd
The adoption by the Accounting Standards Board of its Statement of Principles for Financial Reporting in December 1999 means that we now have an authoritative conceptual framework which should govern the production of British financial statements. Yet while the text of the Statement is directed at members of the accounting profession, students of accounting will need to understand the framework and its repercussions.

An Introduction to Modern Financial Reporting Theory explains the content of the Statement in an accessible language, specifically for the student of accounting and finance. This text will be of direct and practical interest to students who need to understand the contents of the new framework, which helps to explain: why and how financial reporting is carried out; why financial statements are prepared in the way that they are; why accounting standards specify one method rather than another; how the methods specified by accounting standards relate to each other; how practice has developed and will continue to develop.

Brian Rutherford emphasizes and enlarges on the key features of the framework, provides many more examples, shows how the framework applies in practice and also offers some criticisms of its content. The book clarifies to students why various methods and practices in accounting have evolved, while illustrating how they relate to each other and to the underlying function of financial reporting.

This text will be essential reading on university and professional courses in advanced financial accounting, particularly courses on Accounting Theory and Financial Reporting.

Brian Rutherford is Professor of Accounting at Canterbury Business School, University Kent at Canterbury.

 
The Role of Financial Reporting Theory
 
The Objective of Financial Statements
 
Qualitative Characteristics of Financial Information
 
Elements of Financial Statements I
Assets

 
 
Elements of Financial Statements II
Liabilities

 
 
Elements of Financial Statements III
Other Elements

 
 
Recognition
 
Measurement
 
Presentation of Financial Information
 
The Reporting Entity

The book provides further enhancement to the students' knowledge

Dr Ebrahim M. Mansour
Accounting , Al Hashemite University
June 11, 2016

Well organized and structured publication.
Uses an accessible language facilitating the understanding of theory and practice.
Integrates fundamental concepts showing a necessary caution in interpreting the results obtained.
It is useful for a diverse set of users connected to the academic and professional field.
I think that will be a good reference to recommend to students of the course in question and in other related to the management, accounting and finance

Mr Francisco Ferraz
DGE - Manegement and Economic, IPL - Instituto Politécnico de Leiria
December 17, 2014

A useful tool for ILM level 5 - financial unit to build on skills managers require when leading and managing within a small, medium or large business

Mrs Karen Gray
Teacher Education, Simply-Training
June 18, 2013

Preview this book

Brian A Rutherford

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