Financial Accounting Theory eBook, 8th Edition

William R. Scott

Financial Accounting Theory eBook, 8th Edition

By William R. Scott
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William R. Scott
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Financial Accounting Theory continues to orient the coverage of accounting standards to those of the International Accounting Standards Board (IASB). As in previous editions, some coverage of major U.S. accounting standards is also included. While the text discussion concentrates on relating standards to the theoretical framework of the book, the coverage provides students with exposure to the main features of the standards themselves.

Despite its theoretical orientation, the book does not ignore the institutional structure of financial accounting and standard-setting. It features considerable coverage and critical evaluation of financial accounting standards and regulations, such as fair value accounting, financial instruments, reserve recognition accounting, management discussion and analysis, employee stock options, impairment tests, hedge accounting, derecognition, consolidation, and comprehensive income. The structure of standard-setting bodies is also described, and the role of structure in helping to engineer the consent necessary for a successful standard is evaluated.

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  • Theory in Practice: These vignettes provide real-world cases that illustrate the theoretical concepts. Some are pursued further in end-of-chapter Questions and Problems.
  • Examples: Numerical examples with detailed commentary about the method of solution make the theory more concrete, reinforcing students’ learning.
  • Figures: Each chapter begins with a schematic figure. The figure at the start of Chapter 1 shows the design of the book, and each subsequent chapter starts with a figure showing the design of that chapter.
  • Questions and Problems: Each chapter except Chapter 1 ends with questions and problems that allow students to test, and sometime extend, their understanding of the chapter’s contents.
Table of contents
  • Chapter 1: Introduction
  • Chapter 2: Accounting Under Ideal Conditions
  • Chapter 3: The Decision Usefulness Approach to Financial Reporting
  • Chapter 4: Efficient Securities Markets
  • Chapter 5: The Value Relevance of Accounting Information
  • Chapter 6: The Valuation Approach to Decision Usefulness
  • Chapter 7: Valuation Applications
  • Chapter 8: The Efficient Contracting Approach to Decision Usefulness
  • Chapter 9: An Analysis of Conflict
  • Chapter 10: Executive Compensation
  • Chapter 11: Earnings Management
  • Chapter 12: Standard Setting: Economic Issues
  • Chapter 13: Standard Setting: Political Issues