Intermediate Financial Accounting

Author: Ge Jiashu
Publisher:
Publishing Date: 2003-09-01
Features: Intermediate Financial Accounting is a national key accounting textbook during the "Ninth 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 full affirmation from a broad readership and was reprinted in 2001. During this period, the book won the Second Prize of the Fourth Social Science Outstanding Achievement Award of Fujian Province. In the four years since the publication of Intermediate Financial Accounting, science and technology have developed rapidly, and the knowledge economy has begun to emerge. The development of accounting, especially financial accounting, has also been evolving rapidly. In the second edition, the book is divided into nine parts, with the first eight parts comprising 33 chapters, covering the basic knowledge. The ninth part consists of five financial accounting topics, which can be used by students who are keen on delving 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 conventions, the International Accounting Standards (IAS) published by the International Accounting Standards Board (reorganized according to the newly revised format), or the popular accounting procedures introduced in major accounting literature from countries such as the United States and the United Kingdom, as well as the Enterprise Accounting Standards that have been officially promulgated and implemented in China. Historical development, important trends, and major accounting perspectives are also elaborated in the main text. The second edition has made numerous changes to the system and content compared to the edition, specifically reflected in: (1) Continuing to adhere to international accounting conventions and updating according to the latest trends in financial accounting within the international field, while organically integrating the 16 accounting standards that have already been promulgated in China into this revision, as seen in chapters on 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), such as 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 reports, comprehensive income statements, and related party relationships and transactions. Additionally, all five topics in the edition have been fully updated, including: the recognition, measurement, and reporting of human resource accounting; financial reporting by business segments; executive 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 understand the new trends in the development of financial accounting. (3) When revising each chapter, attention has been paid to both inheritance and development of relatively stable parts from the 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 the convenience of teaching, some technical adjustments have been made (such as merging or splitting), with some topics discussed comprehensively in key sections, while others are briefly mentioned in one place and elaborated in detail elsewhere—such as debt restructuring and contingent events.