Intermediate Financial Accounting (Part 1)

Author: Ge Jiashu
Publisher:
Publish Date: 1999-02-01
Features: Intermediate Financial Accounting is a national key accounting textbook during the "Nineth Five-Year Plan" period and a 21st-century curriculum textbook for the Ministry of Education. Since its publication in 1999, it has received strong support and affirmation from a broad readership and was reprinted in 2001. During this period, the book won the Second Prize of the Fourth Fujian Provincial Social Science Outstanding Achievement Award. In the four years since the Intermediate Financial Accounting was published, science and technology have developed rapidly, and the knowledge economy has begun to emerge. The development of accounting, especially financial accounting, has also been ever-changing. In the second edition, the book is divided into nine parts, with the first eight parts comprising 33 chapters, covering the basic knowledge of . The ninth part consists of five financial accounting topics, which can be used by students who are keen to delve deeper into financial accounting to expand their knowledge.
The nine parts of the book, in addition to the main text, also include appendices, and some chapters have supplementary materials. The basic framework of the main text generally includes international accounting practices, the International Accounting Standards (IAS) published by the International Accounting Standards Board (reorganized according to the new revised format), or the International Financial Reporting Standards (IFRS), as well as major accounting practices introduced in key accounting literature from countries like the United States and the United Kingdom, and China's officially published and implemented Enterprise Accounting Standards. Historical development, important trends, and major accounting perspectives are also elaborated in the main text.
The second edition has made significant changes to the system and content compared to the first edition, specifically reflected in:
(1) Continuing to adhere to international accounting practices and updating based on the latest developments in financial accounting within the international field, while organically integrating the 16 accounting standards that China has already issued into this revision. This is evident in chapters such as Inventory, Short-Term Investments, Fixed Assets, Long-Term Equity Investments, Long-Term Debt Investments, Intangible Assets and Goodwill, Current Liabilities and Contingent Liabilities, Long-Term Liabilities and Borrowing Costs, and Revenue, to better connect theory with Chinese practice.
(2) Adding certain chapters in response to reforms in the international accounting field and the improvement of China's accounting standards (such as accounting standards and accounting systems). These include Debt Restructuring, Non-Monetary Transactions, Leases, Derivative Financial Instruments and Hedging Accounting, Post-Balance Sheet Events, Accounting Policies, Changes in Accounting Estimates and Corrections of Accounting Errors, Interim Financial Reporting, Comprehensive Income Statements, and Related Party Relationships and Transactions. Additionally, all five topics from the first edition have been fully updated, including: Recognition, Measurement, and Reporting of Human Resource Accounting, Financial Reporting of Business Segments, Managerial Stock Options and Their Accounting Issues, Corporate Financial Reporting on the Internet, and the Application of Present Value Techniques in Accounting Measurement. Readers can use these to stay informed about the latest trends in financial accounting.
(3) When revising each chapter, attention has been paid to both inheriting and developing the relatively stable parts of the first edition, neither "starting from scratch" nor failing to reflect the distinctive features of the new edition.
(4) The content of certain chapters has been coordinated for consistency. For the convenience of teaching, some technical adjustments were made (such as merging or splitting chapters), with some topics discussed comprehensively in key sections, while others were addressed briefly in one place and elaborated on in another—such as Debt Restructuring and Contingent Events.