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Modern Advanced Accounting（另有课后题答案在我的另一个帖子里,链接如下：https://bbs.pinggu.org/thread-3542015-1-1.html
By Murray Hilton and Darrell Herauf
7th edition， published in 2013
主要是讲合并报表的，并有外国子公司合并报表的时候外汇的转换，还有非营利性机构的部分。章节介绍如下：
ORGANIZATION
Chapter 1 begins with an overview of the conceptual framework for financial
reporting. Most of this material was previously contained in the prologue. The
remainder of the chapter presents a survey of international accounting practices.
It includes a listing of major countries requiring or permitting the use of IFRSs for
listed companies. Some of the major differences between IFRSs and U.S. GAAP
are identified, and the convergence project between the FASB and the IASB to
harmonize their accounting standards is described. Some of the major differences
between IFRSs and ASPE are identified. A new self-study problem on U.S. GAAP
differences has been added.
Chapter 2 commences with an overview of the CICA pronouncements that
make up the “big picture.” Readers are encouraged to revisit this big picture many
times as consolidation topics are developed in later chapters so that they do not
lose sight of the forest as they examine the myriad of details that make up the
trees. The chapter continues with a comprehensive example to illustrate the fair
value, cost, and equity methods of reporting investments in equity securities, and
it concludes with two self-study problems that compare these different reporting
methods. Coverage of the comprehensive example could be postponed until after
Chapter 3 describes two forms of business combinations and three methods that
have been proposed or used to account for business combinations. The direct and
working-paper methods are used to illustrate the acquisition method of accounting
for a business combination. The new definition of control is discussed and used as
the criterion for preparation of consolidated financial statements. A new section on
reporting depreciable assets is added. Reverse takeovers are covered in an appendix.
Chapter 4 examines the preparation of consolidated financial statements for non–
wholly owned subsidiaries at the date of acquisition. The direct method is used in
the body of the chapter and the working-paper method is used in the appendix.
Four theories of consolidation are discussed and illustrated. All four theories are
currently or have recently been required under Canadian GAAP. Accounting for
contingent consideration and bargain purchases are also illustrated.
Chapter 5 covers the preparation of consolidated financial statements subsequent
to the date of acquisition when the parent uses the cost method in its
internal records. The amortization and impairment of the acquisition differential
is explained and illustrated, including an application of the effective interest
method. A new appendix on goodwill impairment is added. The parent’s journal
entries under the equity method are summarized. Ten basic steps in the preparation
of consolidated statements are introduced and form the foundation for the
consolidation topics in the chapters that follow. The direct approach is used in
the body of the chapter. Appendix B illustrates the working-paper approach for
the same examples used throughout the chapter.
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Preface xv
Chapter 6 discusses and illustrates the accounting for intercompany revenues
and expenses, as well as intercompany unrealized profits or losses in inventory and
land. The revenue recognition, matching, and historical cost principles are used to
explain the rationale for consolidation adjustments associated with the holdback
and realization of intercompany profits. The consolidation adjustments when the
entities use the revaluation model for reporting land are described in the appendix.
Chapter 7 discusses the elimination of intercompany profits in depreciable assets,
the recognition of gains or losses resulting from the elimination of intercompany bondholdings,
and the related income tax adjustments that are required. Two self-study
problems are presented using the direct approach and involving the effective interest
method for bond amortization. The consolidation adjustments when the entities use
the revaluation model for reporting depreciable assets are described in the appendix.
Chapter 8 discusses the preparation of the consolidated cash flow statement
and such ownership issues as subsidiaries with preferred shares, step purchases,
reduction of parent’s interest, and indirect holdings. In all situations, the direct
approach is used. The chapter concludes with two self-study problems involving
changes in ownership and preferred shares.
Chapter 9 examines other consolidation reporting issues, including specialpurpose
entities, deferred income taxes and business combinations, and segment
disclosures. The accounting for joint arrangements is illustrated both under the
equity method in the body of the chapter and under proportionate consolidation
in the appendix. A new self-study problem on deferred income taxes pertaining to
business combinations has been added.
Chapter 10 introduces the topic of foreign currency and four different perspectives
in which currencies can be viewed. Foreign currency transactions are discussed,
as are the concepts of hedging and hedge accounting. The handling of
foreign currency gains and losses is illustrated, as are the accounting for fair value
and cash flow hedges. The appendix describes how discounting can be applied
when determining the fair value of a forward contract.
Chapter 11 concludes the foreign currency portion of the text by examining and
illustrating the translation and subsequent consolidation of subsidiaries whose functional
currency is the same as the parent’s (i.e., integrated subsidiary) and whose
functional currency is not the same as the parent’s (self-sustaining subsidiary). The
reporting of exchange gains and losses from the translation of self-sustaining subsidiaries
in other comprehensive income is also illustrated. A new self-study problem
has been added to illustrate the preparation of consolidated financial statements after
translating the foreign operations under both the temporal and current-rate methods.
Chapter 12 discusses in depth the 13 not-for-profit sections in the CICA Handbook.
The chapter concludes with a comprehensive illustration of the required
journal entries and the preparation of financial statements using both the deferral
method and the restricted fund method. Appendix 12A provides a real-life example
of the deferral method by reproducing the financial statements of the United
Way/Centraide Ottawa. Appendix 12B provides a comprehensive outline of the
PSAB reporting requirements for federal, provincial, and local governments.
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