Table of Contents

Part 1 Institutional setting and the conceptual framework Chapter 1 Institutional arrangements for setting accounting standards in Australia Chapter 2 The conceptual framework: Purpose, reporting entity, the objective of financial reporting, and qualitative characteristics Chapter 3 The conceptual framework: Definition, recognition and measurement of the elements in general purpose financial statements Chapter 4 Fair value measurement Chapter 5 The choice of accounting methods Part 2 The statement of financial position Chapter 6 The statement of financial position: An overview Chapter 7 Accounting for current assets Chapter 8 Accounting for property, plant and equipment Chapter 9 Accounting for company income tax Chapter 10 Accounting for intangible assets Chapter 11 Accounting for leases Chapter 12 Accounting for employee benefits Chapter 13 Accounting for financial instruments Part 3 The statement of comprehensive income and further financial reporting issues Chapter 14 The statement of comprehensive income Chapter 15 Revenue Chapter 16 The statement of cash flows Chapter 17 Financial reporting: Segment reporting and highlights statements Chapter 18 Further financial reporting issues Part 4 Industry accounting standards Chapter 19 Accounting for the extractive industries Chapter 20 Accounting for agricultural activity Chapter 21 Accounting for superannuation entities Chapter 22 Accounting for insurance Part 5 International accounting Chapter 23 International accounting standards, harmonisation and convergence Chapter 24 Foreign currency translation Part 6 Accounting and the community Chapter 25 Accounting for corporate social responsibilities Chapter 26 Ethics in accounting

About the Author

SCOTT HENDERSON AM is Emeritus Professor in the Business School at the University of Adelaide. His PhD is from UCLA. He was previously Professor of Accounting at Monash University and has also taught at the University of Manitoba; University of California, Los Angeles; San Diego State University; and the University of Regina. He has previously been a National President of CPA Australia and a consultant to both the public and private sectors. He was also co-author of Issues in Financial Accounting and Financial Accounting Theory, and the author or co-author of more than 60 published papers.

GRAHAM PEIRSON is an Emeritus Professor in the Department of Accounting and Finance at Monash University. He undertakes research in the area of financial accounting and reporting. In particular, he is interested in issues relating to accounting standard setting and the regulation of financial reporting. He was a member of the Accounting Standards Board of the Australian Accounting Research Foundation before the Board's merger with the Accounting Standards Review Board in 1988.

From 1979 to 1989, he was a member of Council of the Victorian Division of CPA Australia, serving as President in 1985/86. He was the inaugural Chairman of CPA Australia's External Reporting Centre of Excellence and served on the CoE in that capacity until 1999. He was a member of the Public Sector Accounting Standards Board of the Australian Accounting Research Foundation from 1989 until it merged with the Australian Accounting Standards Board (AASB) in 2000. He was a member of the AASB from 2000 to 2002. Business finance is also an area in which he has an interest, as evidenced by his co-authorship of Essentials of Business Finance, Business Finance and Financial Accounting Theory, and Financial Accounting: An Introduction. In addition, he has published widely in journals in Australia and overseas. He is the former Director of the Department's Centre for Research in Accounting and Finance.

KATHY HERBOHN is an Associate Professor in financial accounting in the UQ Business School at the University of Queensland. She has taught at Australian universities for over 20 years in both undergraduate and postgraduate courses. Kath has a PhD in Financial Accounting from the University of Adelaide and her main research interest is the consequences of accounting regulation for financial statement users and preparers, with a particular focus on income tax and carbon emissions.

Her publications appear in various journals, including Accounting, Organisations and Society, Journal of Business Finance and Accounting, Journal of Business Ethics, British Accounting Review, Accounting and Finance, and Australian Accounting Review .

TRACY ARTIACH is a Senior Lecturer in financial accounting in the UQ Business School at the University of Queensland. She has taught at Australian universities for over 20 years in undergraduate, postgraduate and MBA courses covering on-campus, distance and online delivery modes. In 2009, Tracy received the UQ Business School Postgraduate Teaching Award and in 2014 was ranked 5th in the Unijobs Top 10 QUT Lecturers. Tracy has a PhD from the University of Queensland with research publications in Australian and international academic journals including Accounting, Auditing and Accountability Journal, Energy Economics, Australian Journal of Management, Accounting and Finance and Australian Accounting Review.

Tracy's teaching and research interests are in the area of financial reporting and accounting standard, including issues relating to disclosure, conservatism, comprehensive income and measurement. She is actively involved in the Accounting and Finance Association of Australia and New Zealand (AFAANZ) Accounting Standards Special Interest Group (SIG 3) and serves on the committee of the SIG.