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Accounting Theory
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Accounting Theory
Conceptual Issues in a Political and Economic Environment

Ninth Edition
Additional resources:


July 2016 | 672 pages | SAGE Publications, Inc

This updated Ninth Edition of Accounting Theory: Conceptual Issues in a Political and Economic Environment continues to be one of the most relevant and comprehensive texts on accounting theory. Authors Harry I. Wolk, James L. Dodd, John J. Rozycki provide a critical overview of accounting as a whole as well as touch on the financial issues in economic and political contexts, providing readers with an understanding of how current United States accounting standards were derived and where we might be headed in the future. Readers will find learning tools such as questions, cases, problems and writing assignments to solidify their understanding of accounting theory and gain new insights into this evolving field.


 
Chapter 1: An Introduction to Accounting Theory
Accounting Theory and Policy Making

 
The Role of Measurement in Accounting

 
Plan of This Book

 
Appendix 1-A: Valuation Systems

 
 
Chapter 2: Accounting Theory and Accounting Research
Accounting Research and Scientific Method

 
Is Accounting an Art or a Science?

 
Directions in Accounting Research

 
A Scientific Revolution in Accounting?

 
 
Chapter 3: Development of the Institutional Structure of Financial Accounting
Accounting in the United States Prior to 1930

 
Formative Years, 1930-1946

 
Postwar Period, 1946-1959

 
Modern Period, 1959 to the Present

 
 
Chapter 4: The Economics of Financial Reporting Regulation
The Case for Unregulated Markets for Accounting Information

 
The Case for Regulated Markets for Accounting Information

 
Imperfections of Accounting Regulation

 
The Regulatory Process

 
Economic Consequences of Accounting Policy

 
 
Chapter 5: Postulates, Principles, and Concepts
Postulates and Principles

 
Basic Concepts Underlying Historical Costing

 
Equity Theories

 
Appendix 5-A: The Basic Postulates of Accounting (ARS 1)

 
Appendix 5-B: A Tentative Set of Broad Accounting Principles for Business Enterprises (ARS 3)

 
 
Chapter 6: The Search for Objectives
ASOBAT

 
APB Statement 4

 
The Trueblood Committee Report

 
SATTA

 
User Objectives and User Diversity

 
 
Chapter 7: The FASB’s Conceptual Framework
The FASB’s Conceptual Framework

 
The Conceptual Framework as a Codificational Document

 
Empirical Research on the Conceptual Framework

 
Assessing the Conceptual Framework

 
 
Chapter 8: Usefulness of Accounting Information to Investors and Creditors
Earnings, Dividends, and Stock Prices

 
Residual Income Models

 
Background on Risk and Return

 
Introduction to Capital Markets Research in Accounting

 
The Value of Accounting Information: Evidence From Return Data

 
The Value of Accounting Information: Evidence From Direct Valuation

 
Accounting Data and Creditors

 
Importance of Earnings Forecasting

 
Empirical Research and Standard Setting

 
 
Chapter 9: Uniformity and Disclosure: Some Policy-Making Directions
What Underlies the Choice Among Accounting Methods?

 
Uniformity

 
The Usefulness of Accounting Allocations

 
Disclosure

 
Improving Accounting Standards

 
 
Chapter 10: International Accounting
National Accounting Differences

 
International Harmonization of Accounting Standards

 
 
Chapter 11: The Balance Sheet
The Relationship Between the Balance Sheet and the Income Statement

 
Assets

 
Liabilities

 
Owners' Equity

 
Financial Instruments

 
Classification in the Balance Sheet

 
Appendix 11-A: A Simple Example of a Weather Derivative

 
 
Chapter 12: The Income Statement
Income Definitions

 
Revenues and Gains

 
Expenses and Losses

 
Future Events and Accounting Recognition

 
Current Operating Versus All-Inclusive Income

 
Nonoperating Sections

 
Earnings per Share

 
Special Subjects Concerning Income Measurement

 
Earnings Management

 
Income Statement Developments

 
 
Chapter 13: Statement of Cash Flows
The Statement of Changes in Financial Position

 
The Motivation for a Cash Flow Statement

 
Requirements of the Cash Flow Statement

 
Classification Problems of SFAS No. 95

 
Analytical Usefulness of the Cash Flow Statement

 
Cash and Funds Flow Research

 
Improving the SCF

 
 
Chapter 14: Income Taxes and Financial Accounting
Income Tax Allocation

 
The Asset–Liability Orientation of SFAS No. 109

 
Empirical Research on Income Tax Allocation

 
International Accounting Standards (IAS)

 
Improving Accounting Standards

 
 
Chapter 15: Pensions and Other Postretirement Benefits
Overview of Pension Plans

 
Development of Pension Accounting Standards

 
Postretirement Benefits Other Than Pensions

 
International Accounting Standards (IAS)

 
Improving Accounting Standards

 
Appendix 16-A: Illustration of Pension Expense Determination and Actuarial Funding Methods

 
 
Chapter 16: Leases
The Lease Contract

 
The Evolution of Lease Accounting Standards

 
FASB and IASB Joint Exposure Draft on Accounting for Leases

 
Improving Accounting Standards

 
 
Chapter 17: Intercorporate Equity Investments
Relevant Circumstances

 
Consolidation

 
The Equity Method

 
The Fair Value Method

 
Defining the Reporting Entity

 
Translation of Foreign Operations

 
IASB Standards

 
Improving Accounting Standards

 
Appendix 17-A: Special Purpose Entities, Variable Interest Entities, and the Downfall of Enron

 

Supplements

Instructor Resource Site

Password-protected Instructor Resources include the following:

  • A Microsoft® Word® test bank provides you with a diverse range of pre-written options as well as the opportunity for editing any question and/or inserting your own personalized questions to effectively assess students’ progress and understanding.
  • Editable, chapter-specific Microsoft® PowerPoint® slides offer you complete flexibility in easily creating a multimedia presentation for your course.
  • An instructor's manual includes chapter highlights, answers to the end-of-chapter questions, case problems, and writing assignments.
Key features

NEW TO THIS EDITION

  • Updated FASB-IASB Standards offer readers an in-depth understanding of the attempts being made to establish a high-quality set of international accounting standards, creating a unified front in finance and accounting.
  • Revised Financial Accounting Standards Board (FASB) documents provide a new conceptual framework, equipping students with the necessary tools to better understand financial reporting. 
  • New research and current statistics ensure that readers have access to real-world knowledge and applicable paradigms.
  • Student Research Questions on recent scholarship are included to engage readers in analytical thought.
  • Blackboard Question Pools to facilitate online testing.
  • Private Company Council (PCC) had been added to the FASB organizational structure to demonstrate to readers how effectiveness and communication are being enhanced.

KEY FEATURES

  • Recent Accounting Standards Updates (ASU) keep readers savvy to industry development.
  • Recent International Financial Reporting Standards (IFRS) allow your students to always be up to date with leading advancements in reporting.
  • Current research findings offer readers comprehensive coverage of both theory and practice in the world of accounting and finance.
  • Top academic journals are cited to deliver a solid introduction to the challenges within international accounting.
  • Top academic journals are cited to deliver a solid introduction to the challenges within international accounting.
  • Technical aspects and issues are frequently supplemented by practical examples from sources such as The Wall Street Journal, offering readers a relevant understanding of financial accounting and its applications.

For instructors

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