 |
|
|
DOUBLE ENTRIES 16.13 | | Authors: | Andrew Priest and Andy Lymer | | Type: | Double Entries Archive |
|
|
AccountingEducation.com's
Double Entries
The oldest continuous online accounting newswire in the world
ISSUE 16.13 june 24, 2010
Financial Accounting: IFRS Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Publisher details: John Wiley & Sons Ltd
For colleges and universities around the world, John Wiley & Sons is proud to announce Financial Accounting: IFRS Edition, by Jerry J. Weygandt, Paul D. Kimmel, and Donald E. Kieso, which incorporates International Financial Reporting Standards (IFRS) into the existing textbook framework. On almost every page, the book addresses every accounting topic from the perspective of IFRS while still highlighting key differences between IFRS and US GAAP. Following the reputation for accuracy, comprehensiveness, and currency, the authors have painstakingly created a book dedicated to assisting students learning accounting topics under the rules of IFRS.
Features:
•WileyPLUS - an online learning system is available for this title. WileyPLUS is an innovative, online teaching and learning method that engages students in accounting topics with technologies they are already using in their everyday lives.
•New focus on international companies, international examples, and international currencies. The basics of financial accounting principles and procedures are presented within the context of IFRS while also providing exercises and problems that present students with international currency examples (e.g. yen, euro).
•Cadbury (GBR) and Nestlé (CHE) Annual Reports & Financial Reporting Problems.
•Do It! Problems, which gives students an opportunity to see a detailed solution to a representative problem before they do their homework.
•Accounting Across the Organization features - highlights the important role of accounting information to other business majors (e.g. management, marketing, information systems, finance).
For further details including sample chapters, or to request an inspection copy please visit the text book's website.
news
AUSTRALIA [01] AUASB INTRODUCES GUIDANCE TO MAKE IT EASIER FOR AUDITORS AND BANKS TO ARRANGE BANK CONFIRMATIONS
CHINA [02] THE POLITICS OF ACCOUNTING IN CHINA
INTERNATIONAL - IASB [03] IASB AND FASB UPDATE G20 LEADERS ON MODIFIED CONVERGENCE STRATEGY
[04] IASB AND FASB PROPOSE NEW JOINT STANDARD FOR REVENUE RECOGNITION
[05] PADOA-SCHIOPPA TO RETURN AS CHAIRMAN OF IASC FOUNDATION TRUSTEES
INTERNATIONAL - IFAC [06] IFAC SMP COMMITTEE RELEASES PRACTICE MANAGEMENT GUIDE
[07] IFAC TO G20 - GOVERNMENT SHOULD PRACTICE WHAT THEY PREACH AND FOLLOW RULES LIKE THOSE THEY SET FOR PUBLIC COMPANIES
INTERNATIONAL - OTHER [08] A BALANCING ACT FOR NGOS - CIMA FUNDED RESEARCH PROVIDES A NEW FRAMEWORK FOR COST CONTROL
[09] RESEARCH CALL - CIMA RESEARCH INITIATIVE: BEYOND RECESSION
SOUTH AFRICA [10] IRBA ISSUES RULES REGARDING IMPROPER CONDUCT AND CODE OF PROFESSIONAL CONDUCT FOR REGISTERED AUDITORS
UNITED STATES [11] FASB CHAIRMAN DISCUSSES CONVERGENCE, CHANGING STANDARDS AT CONFERENCE
Editorial
Welcome to the 24th issue of Double Entries 2010.
This week’s newswire is tinged with sadness as it will be last one Andrew Priest and I do together as co-editors. Andrew Priest is moving on to new ventures and won’t be able to continue to edit the newswire with me any longer after this issue – this being the last before our usual mid-year recess.
We have been produced Double Entries for over 11 years together since April 1999 when we took over the editorship of the newswire that Roger Debreceny (now of University of Hawaii) started (with various others) a number of years before that. This was linked to the launch of the new AccountingEducation.com community and the newswire was brought under the common banner of this new technology called ‘the web’ we were all excited about at the time (still are if we are honest!). Together since then we have written/edited approaching 11,000 stories through AccountingEducation.com and summarised them into our weekly newswire. Also countless journal updates, links announcements, book of the week ads, job ads, library updates, reviews and many other titbits we thought the community of subscribers might be interested in from time to time. The wire’s readership has grown steadily year on year and now has subscribers all over the world – in pretty much every country literally. Throughout this time this has been an entirely volunteer effort with Andrew dedicating huge amongst of his time to the weekly task of turning our website content into the weekly pushed newswire that lands in your inbox. This requires considerable technical capability and no little dedication to a task that is timely (so you get it when you expect it each week – pretty much anyway) and time consuming and doing this without payment. This has been a significant service that is (at least financially!) unrewarded – but I know in travelling around the world and speaking to many people, has been a significant contribution to the growth of all aspects of accounting education and research globally.
I am sure you, with me, will want to wish Andrew all the best for his new ventures and to thank him for his faithful work over a significant amount of time.
As to the future of this newswire without him – that is not as yet clear. We will be stopping producing the newswire over the next two months during which time we will be exploring what are the best options for where we go next with this newswire. If anyone would like to offer suggestions for how this should continue I’d welcome this (email me at andy@accountingeducation.com) – particular offers of help (or sponsorship ideas perhaps to enable us to fund admin support?) would obviously be very welcome.
In the meantime I wish you all a happy summer/winter (depending on where in the world you are obviously) and we will hopefully see you in September again in some form. Do please keep visiting the website as, although Double Entries won’t be being distributed over this period, we will continue to update the site as normal throughout so all the usual material will be there for you to use.
Thanks
Andy Lymer – shortly to be sole editor of Double Entries newswire.
JOBS UPDATE
The following positions have been added to the AccountingEducation.com Academic Vacancy Centre during the past two weeks:
Lecturer (Fixed Term) in Accounting
Employer: National University of Ireland, Galway/Ollscoil na hÉireann, Gaillimh
Location: Galway, Ireland
Deadline for applications: 1 July, 2010
For full details see our jobs database here.
JOURNALS UPDATE
The following Journal's content has been added to the Journals database during the past week:
Meditari Vol 18 No 1 June 2010
•The role of accounting theory in the development of accounting principles - D Coetsee
•Audit committee responsibilities vis-à-vis internal audit: how well do Top 40 FTSE/JSE listed companies shape up? - B Marx T Voogt
•Factors that could influence the ethical behaviour of tax professionals - SG Nienaber
•Effective integration of SMS communication into a distance education accounting module - AA van Rooyen
•Tax incentives for biodiversity conservation in the Western Cape - E. van Wyk
•An exploratory study of the focus areas of South African Top 40 company CFOs - T Voogt
NEWS UPDATE
AccountingEducation.com probably has the largest Global Accounting News Archive on the web. Containing approximately 10,000 news stories dated from 1999 onwards covering all the key events of that period. Access the full, free, searchable, database here.
AUSTRALIA
[01] AUASB INTRODUCES GUIDANCE TO MAKE IT EASIER FOR AUDITORS AND BANKS TO ARRANGE BANK CONFIRMATIONS
The AUASB (Australian Auditing and Assurance Standards Board) has issued guidance on the procedures for obtaining audit evidence regarding an entity’s bank accounts and transactions, as well as updated bank confirmation request forms. Click through for further details. [AL]
CHINA
[02] THE POLITICS OF ACCOUNTING IN CHINA
In the early 1990s Professor Stephen A Zeff coined the term “politics of accounting standards”. Since then it has been used to describe the phenomena that so-called “political” factors, or “unenlightened self-interest”, may drive companies or governments to frustrate standard setters’ attempts to guide the improvement of financial reporting. In China - as in most other countries - there is evidence this continues to play a significant role in accounting practices. See our full story for an example of how this is occurring in the Chinese accounting system today. [MCR]
INTERNATIONAL - IASB
[03] IASB AND FASB UPDATE G20 LEADERS ON MODIFIED CONVERGENCE STRATEGY
Today (24 June) the IASB and FASB have issued a letter to update the G20 leaders on their modified convergence strategy and wider stakeholder engagement actions - reproduced in full from the IASB website. See our full news item for full details. [AL]
[04] IASB AND FASB PROPOSE NEW JOINT STANDARD FOR REVENUE RECOGNITION
The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) today (24 June) published for public comment a draft standard to improve and align the financial reporting of revenue from contracts with customers and related costs. IASB Chair, Sir David Tweedie described this as an important step towards a single global principle-based standard that would make it absolutely clear when revenue is recognised—and why. Click through for further details. [AL]
[05] PADOA-SCHIOPPA TO RETURN AS CHAIRMAN OF IASC FOUNDATION TRUSTEES
The Monitoring Board of the IASC Foundation has announced that it has approved the appointment of Tommaso Padoa-Schioppa, former Italian Minister of Economy and Finance, as Chairman of the Trustees of the IASC Foundation. He will take over from Gerrit Zalm, who currently serves as Chairman and whose term was expiring this year, after the Trustees' meeting on 7 and 8 July. See further details in our full news item. [AL]
INTERNATIONAL - IFAC
[06] IFAC SMP COMMITTEE RELEASES PRACTICE MANAGEMENT GUIDE
The Small and Medium Practices (SMP) Committee of the International Federation of Accountants (IFAC) has issued the Guide to Practice Management for Small- and Medium-sized Practices, which provides guidance on how this sector can better manage their practices and ultimately operate in a safe, profitable, and professional manner. More information in our full news item. [AL]
[07] IFAC TO G20 - GOVERNMENT SHOULD PRACTICE WHAT THEY PREACH AND FOLLOW RULES LIKE THOSE THEY SET FOR PUBLIC COMPANIES
In a letter issued this week, the International Federation of Accountants (IFAC) calls for broad and swift action by the G-20 leaders at their June 26-27 meeting in Toronto, Canada, to greatly improve government transparency and accountability as a means toward global fiscal sustainability. Click through for further details. [AL]
INTERNATIONAL - OTHER
[08] A BALANCING ACT FOR NGOS - CIMA FUNDED RESEARCH PROVIDES A NEW FRAMEWORK FOR COST CONTROL
Research funded by CIMA (Chartered Institute of Management Accountants) has unveiled a new framework for non-governmental organisations (NGOs) to help them balance the conflicting objectives of cost control and improving welfare. The report, Social Capital: The role of management control systems in NGOs, recognises the increasing demands on NGOs that require them to have – and demonstrate that they have - a more businesslike approach to project planning and governance. However the report stresses that there are real dangers to the very identity and potential survival of NGOs if the balance between the mode of control and the commitment to shared values is lost. Click through for further details and to access the full report. [AL]
[09] RESEARCH CALL - CIMA RESEARCH INITIATIVE: BEYOND RECESSION
Following the 08/09 financial crisis, the world is hoping for a brighter future. But this may not mean a return to business as usual. The economic conditions and hubris that gave rise to the crisis were not a sustainable norm. The future will not be as it was before. Will recovery mode create new demands of management accounting information and/or change the importance of the management accountant’s organisational role? CIMA's latest Research Initiative is seeking answers to these questions. Click through for further details of this call for proposals. [AL]
SOUTH AFRICA
[10] IRBA ISSUES RULES REGARDING IMPROPER CONDUCT AND CODE OF PROFESSIONAL CONDUCT FOR REGISTERED AUDITORS
The Committee for Auditor Ethics (CFAE) of the South African Independent Regulatory Board for Auditors (IRBA) has issued the revised Rules Regarding Improper Conduct and Code of Professional Conduct for Registered Auditors. See further details in our news item [DG].
UNITED STATES
[11] FASB CHAIRMAN DISCUSSES CONVERGENCE, CHANGING STANDARDS AT CONFERENCE
FASB Chairman Robert Herz spoke about the convergence process and the goal of a single set of high-quality, global, financial reporting standards at the 29th SEC and Financial Reporting Institute Conference. Click through for details. [GC]
more about Double Entries & AccountingEducation.com.....
Double Entries is a weekly e-newsletter that provides up-to-date news of accounting and auditing around the world and is available both by email and on the World Wide Web at http//accountingeducation.com. Double Entries is edited by Andrew Priest at the School of Accounting, Edith Cowan University, Perth, Western Australia, Australia and Andy Lymer, Birmingham Business School, University of Birmingham, Birmingham, United Kingdom. Correspondents come from the profession and academia. Further information, source of the material and contributor names for specific articles in Double Entries can be found online by referring to the specific article in the News section of AccountingEducation.com.
Contributors: Andy Lymer [AL] (UK), Andrew Priest [AP], David Hardidge [DH], (Australia), Amelia Baldwin [AB], Roger Debreceny [RD] (US), Dave Kolitz [DK], Dieter Gloeck (South Africa), Nikoleta Radic [NR] (The Netherlands), Frank D'Andrea [FD] (Canada), Elisabeth Walliser [EW], Jean-Luc Rossignol [JR] (France), Nick Rowbottom (United Kingdom) [NR], Tony van Zijl [TV] (New Zealand, Barbara Weissenberger (Germany) [BW], Tan Bee Leng (Malaysia) and Rene Castro (Colombia).
Mailing Address: AccountingEducation.com Ltd, Unit 100, The Guildhall, Edgbaston Park Road, Birmingham, UK, B15 2TU.
NOTE - AccountingEducation.com Ltd does not assume copyright of any of the above materials where original source is given and original copyright remains with Information sources where acknowledged. The information contained in this newswire is supplied in good faith but is not endorsed in any way by AccountingEducation.com Ltd and should be confirmed before being used in any way.
subscribe....subscribe....subscribe.....subscribe.....subscribe......
To receive this list, register your name and email address via the Register option on the AccountingEducation.com website. To be removed from this list or to update your subscription please click here.
|
|
|
|
|
|
