Rigorous in its approach, Advanced Financial Accounting tackles the more complex issues of the subject in a lively and engaging mannner. Familiar in its structure and treatment of basic concepts, the seventh edition has, none the less, been thoroughly revised and updated to reflect recent and planned developments in financial reporting. Thus it explains the considerable changes which are scheduled to take place in the European Union during the next few years and the increasing importance of the International Accounting Standards. It includes greater coverage of the International Standards and provides in depth discussion of such issues as accounting for financial instruments, deferred taxation and stock options as well as exploring the impact of the major changes which have occurred in the accounting treatment of pension costs. This leading text continues to provide both clear explanations and critical evaluations of current accounting practice, especially as found in national and international accounting standards, and relates them to the needs of users of financial statements. INDICE PART I THE FRAMEWORK OF FINANCIAL REPORTING 1. The search for principles 2. Sources of authority: the United Kingdom 3. Sources of authority: the rise of international standards 4. What is profit? PART II FINANCIAL REPORTING IN PRACTICE 5. Assets I 6. Assets II 7. Liabilities 8. Financial instruments 9. Substance over form and leases 10. Pension costs 11. Reporting financial performance 12. Taxation: current and deferred 13. Business combinations and goodwill 14. Investments and groups 15. Associates and joint ventures 16. Overseas involvement 17. Expansion of the annual report 18. Capital reorganisation, reduction and reconstruction PART III ACCOUNTING AND PRICE CHANGES 19. Accounting for price changes 20. Current cost accounting 21. Beyond current cost accounting Index