Richard E. Baker,
Northern Illinois University Valdean C. Lembke,
University of Iowa Thomas E. King,
Southern Illinois University Cynthia G. Jeffrey,
Iowa State University
ISBN: 0073526746 Copyright year: 2008
Overview
The seventh edition of Advanced Financial Accounting continues to provide strong coverage
of advanced accounting topics, as well as integrated coverage based on continuous case
examples. The text is highly illustrated with complete presentations of worksheets, schedules,
and financial statements so that students can see the development of each topic. The
inclusion of all recent FASB and GASB pronouncements and the continuing deliberations
of the authoritative bodies provides a current and contemporary text for students preparing
for the CPA Examination and current practice. In the chapters covering consolidation subsequent
to the date of combination, three alternative methods of accounting for the parent’s
investment in the subsidiary are presented in each chapter (basic equity) and appendices
(cost and fully adjusted equity) to provide the opportunity for exploring the differences in
the methods and seeing that the consolidated financial statements are the same regardless
of the method the parent company uses to account for the investment. The chapters dealing
with global operations include a comprehensive discussion of accounting for foreign currency
derivatives and other financial instruments and arrangements used in today’s business
arena. The governmental and not-for-profit chapters include all recent important pronouncements
and developments in those areas.
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2008 McGraw-Hill Higher Education