International accounting harmonisation is of growing interest to companies operating multinationally and is likely to be the key financial issue of the new millennium. This book is a comprehensive introductory text covering both financial accounting and reporting in this international context, especially but not exclusively focused on Europe. It is designed to be used at undergraduate and MBA level in universities and business schools, particularly where the course has an international emphasis and/or comprises students of different nationalities. The legal framework in the book is based on that of the EU. The accounting framework described is eclectic but International Accounting Standards (IASs) provide a unifying theme. The book has an orientation towards the analysis and interpretation of accounting information that is particularly relevant for business management students. The book is pedagogically strong and has many real-world examples to lend an authentic flavour. There are numerous worked examples and problems. A good support package containing solutions and overhead transparency masters is available to adopting lecturers

PART I: FOUNDATIONS
1. Financial Accounting: An Overview
2. The Balance Sheet: a Financial Picture of the Firm
3. The Income Statement
4. Accounting Records: Structure and Terminology
5. Accrual Adjustments & Financial Statement Preparation
6. The Financial Statements and the Annual Report

PART II: THE HOUSE OF ACCOUNTING
7. Key Conceptual Issues in Financial Accounting
8. Fixed Assets, Tangible and Intangible
Part 1. Core Issues
Part 2. Specialised Topics
Part 3. Fixed Assets and Financial Statement Analysis
9. Inventories
10. Recognition of Revenue and Valuation of Receivables
Part 1. Core Issues
Part 2. Specialised Topics
Part 3. Revenues, Receivables, & Financial Statement Analysis
11. Liabilities, On and Off Balance Sheet
Part 1. General Issues
Part 2. Long-Term Debt
Part 3. Leasing / Types of Lease / Lessee Accounting
Part 4. Liabilities and Financial Statement Analysis
12. Shareholders' Equity
Part 1. Core Issues
Part 2. Specialised Topics
Part 3. Shareholders' Equity & Financial Statement Analysis
13. Financial Investments
Part 1. Core Issues
Part 2. Specialised Topics
Part 3. Disclosure & Analysis of Financial Investments
14. Equity Method of Accounting and Consolidations
Part 1. Core Issues
Part 2. Specialised Topics
Part 3. Consolidated Accounts & Financial Statement Analysis
15. Transactions and Operations in Foreign Currencies
16. Employment Costs
17. Accounting for Corporate Income Taxes
Part 1. Core Issues
Part 2. Deferred Tax Accounting: Extensions
Part 3. Income Taxes and Financial Statement Analysis

PART III: PERSPECTIVES
18. The Cash Flow Statement Revisited
Part 1. Cash Flow Analysis: Benefits to Investors
Part 2. Specialised Topics
19. Financial Statement Analysis: Basic Framework
20. Financial Statement Analysis: Extensions
Part 1. Problem Areas
Part 2. Accounting Quality
21. Future Directions in Financial Accounting & Reporting