Ken Leo, BCom (Hons), MBA, has been an academic for over 40 years, including 20 years as Professor of Accounting at a university in Western Australia. During this time, he has taught company accounting to undergraduate and postgraduate students. He has been involved in writing books published by John Wiley since 1981, and has also written books and monographs for other organisations including CPA Australia, the Group of 100 and the Australian Accounting Research Foundation. He was a founding member of the Urgent Issues Group, serving on that body from 1995 to 2001. He subsequently served on the Australian Accounting Standards Board from 2002 to 2007, both as a member and as deputy chair of the Board.
Jeffrey Knapp, BEc (Hons) (Macq), MPhil (UNSW), CA, is a Lecturer in Accounting at the University of New South Wales. Jeffrey’s background includes working in income tax (Coopers & Lybrand), technical consulting in financial reporting and audit (Institute of Chartered Accountants in Australia), and teaching consolidation accounting (Macquarie University and UNSW). Jeffrey’s strengths are his knowledge of accounting standards and his forensic ability to uncover financial reporting irregularities. Jeffrey is one of Australia’s most well-known media commentators on financial reporting regulation and practice.
Susan McGowan, BAcc (SAIT), MCom (UniSA), and GradCertEd(HigherEd) (QUT), is currently a senior lecturer in the School of Commerce at the University of South Australia. Her research interests focus on accounting education and academic integrity.
John Sweeting, BEc, MEc, PhD, CPA, CA, was Senior Lecturer in Accountancy at Queensland University of Technology. John’s background includes a mixture of academic and business positions. He has taught at Swinburne University of Technology and Central Queensland University, and has spent time with the National Companies and Securities Commission (now the Australian Securities and Investments Commission). John has also held positions with a large international chartered accounting firm and a company listed on the Australian Securities Exchange. In addition to running in-house courses for accounting firms, John has also conducted Professional Development courses for CPA Australia and the Institute of Chartered Accountants in Australia. He has also been actively involved in both the CPA Program and the CA Program.
Supplementary materials xv
Chapter 1 Nature and regulation of companies 1
Chapter 2 Financing company operations 37
Chapter 3 Company operations 91
Chapter 4 Fundamental concepts of corporate governance 155
Chapter 5 Fair value measurement 197
Chapter 6 Accounting for company income tax 237
Chapter 7 Financial instruments 297
Chapter 8 Foreign currency transactions and forward exchange contracts 349
Chapter 9 Property, plant and equipment 395
Chapter 10 Leases 453
Chapter 11 Intangible assets 515
Chapter 12 Business combinations 567
Chapter 13 Impairment of assets 633
Chapter 14 Disclosure: legal requirements and accounting policies 687
Chapter 15 Disclosure: presentation of financial statements 735
Chapter 16 Disclosure: statement of cash flows 799
Chapter 17 Translation of financial statements into a presentation currency 861
Chapter 18 Consolidation: controlled entities 905
Chapter 19 Consolidation: wholly owned subsidiaries 931
Chapter 20 Consolidation: intragroup transactions 991
Chapter 21 Consolidation: non-controlling interest 1047
Chapter 22 Consolidation: other issues 1109
Chapter 23 Associates and joint ventures 1177
Chapter 24 Joint arrangements 1237
Chapter 25 Insolvency and liquidation 1277
Appendix: Present value tables 1351