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Financial Reporting Challenges in a Global Context

Explore the impact of inflation on financial reporting, accounting for goodwill and intangible assets, geographic segmental disclosure, and the growing demand for social reporting.

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Financial Reporting Challenges in a Global Context

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  1. CHAPTER 4 SELECTED FINANCIAL REPORTING AND DISCLOSURE ISSUES IN THE GLOBAL CONTEXT

  2. LEARNING OBJECTIVES: 1. Identify the effect of inflation on financial reporting and discuss the two main inflation-adjusted accounting models

  3. LEARNING OBJECTIVES: 2. Examine the issues related to accounting for goodwill and intangible assets and discuss the main accounting approaches related to them

  4. LEARNING OBJECTIVES: • 3. Highlight the costs and benefits of geographic segmental disclosure and review the new FASB and IASC standards on segmental reporting

  5. LEARNING OBJECTIVES: 4. Discuss the growing demand for social reporting including employee and environmental disclosures

  6. CHAPTER OUTLINE I.Accounting for Changing Prices (1) Inflation-Adjusted Accounting Models (2) Current Cost Adjusted (CCA) Models

  7. I.Accounting for Changing Prices • (3) Evaluating the CCA Model • II.Accounting for Goodwill and Intangible Assets • (1) Goodwill

  8. II.Accounting for Goodwill and Intangible Assets (2) Brands, Patents and Trademarks III.Geographic Segment Reporting (1) Current Developments in Geographic Segment Reporting

  9. IV.Environmental and Social Disclosures • (1) Environmental Disclosures • (2) Employee Disclosures • (3) Value Added Statement

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