Solution Manual for Contemporary Issues in Accounting, 2nd Edition

Name: Solution Manual for Contemporary Issues in Accounting, 2nd Edition
Brand: Academic Documents Platform
Price: 16.99 USD
Availability: InStock
Author: Amelia Davis

Ace your coursework with Solution Manual for Contemporary Issues in Accounting, 2nd Edition, designed to simplify complex topics.

Amelia Davis

Contributor

4.2

about 2 months ago

Preview (31 of 256)

Solutions manual
to accompany
Contemporary issues in
accounting
2nd edition
by
Rankin, Ferlauto, McGowan and Stanton
Prepared by
Sue McGowan

Chapter 1: Contemporary issues in accounting
1.1
Chapter 1: Contemporary issues in accounting
Contemporary issue 1.1
Dick Smith hearings reveal questionable accounting of rebates
Questions
1. This article states ‘accounting standards are currently unclear’ with regard to how
to account for rebates. Given these rebates seem to be quite common, can you think
of any reasons the accounting for these could be unclear and why there may not be
an accounting standard that specifies exactly how to account for these particular
transactions?
2. This article claims that profits were overstated by Tesco ‘because it had booked
rebates from suppliers before receiving them’. Do accounting principles require
cash to be received before recognising items in the accounting? If not, why should
accounting be implicated in these profit overstatements?
3. A note prepared by PricewaterhouseCoopers claims that supplier rebates are
complex and as accounting requirements are unclear.
Ultimately, getting rebate accounting correct relies on a culture and leadership that
encourages accounting for the commercial substance of rebate arrangements and
discourages short‐term profit maximisation.
What do you think is meant by ‘getting the accounting correct’? Can you identify any
factors that would influence the exercise of professional judgement in this context?
1. The key reason would be that rebates vary significantly and are often complex. These can
involve for example:
• Rebates related to inventory (e.g. retrospective volume rebates)
• Other rebates (e.g. involving contributions to marketing and promotional costs or
activities).
These rebates will be tailored to the particular circumstances (as the PWC notes states these
vary widely “reflecting the different elements of the goods and services exchanged between
suppliers and retailers”.)
Given the complexities and variations in these rebates, it would not be feasible for the
accounting standards to specify exactly how to account for every possible rebate in every
particular context/circumstance. The principles in the standards should be applied to reflect
the substance of the particular rebate contract/arrangement. For example, if the rebate related
to volume rebates would need to apply the principles relating to cost of inventory in IAS
2/AASB 102 Inventories.
Students should also consider if the accounting standards were to specify exactly how such
rebates were to be accounted for:
• Is it likely such prescriptions would take a conservative approach (e.g. not allow
these rebates to be recognised/factored into costing of inventory until virtually
certain)? If this occurred would necessarily result in faithful representation.

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.2
• This would amount to a ‘rules’ based approach. If this were to occur, could the
contracts be drawn so that did not fall within the types of rebate contracts specified
in the standards?
2. A key accounting principle is the accrual basis: that the effects of transactions and events
are recognised in accounting records when they occur, not when the cash is received or paid.
Therefore accounting principles do not require cash to be received before recognising an
item. For example, we do not defer recognition of revenue when sales are made on credit.
However, the accounting standards do specify recognition criteria. For example:
• For assets it must be probable that future economic benefits will be received.
• For revenue, the amount of any variable consideration can only be recognised to the
extent that highly probable will not reverse.
Given that these rebates often are contingent on/linked to future events/circumstances – such
as the sale of a particular volume/amount of inventory – this requires estimation and
judgment. For example, in the article it states that “Dick Smith breached accounting
standards by booking its rebates as profit before these were actually sold”. The argument
here is based on the circumstances of Dick Smith where the inventory was not able to be sold.
However, if a company has a history of easily selling and forecasts indicate that it will sell at
least the amount of inventory required to receive the rebate, then it would be expected to be
entitled to this rebate (and thus would reduce the cost of inventory by the rebate expected to
be received).
It could be argued that accounting is implicated as:
• It does not require certainty (or is not conservative enough), and./or
• In these cases there were inappropriate estimations/judgments made.
3. ‘Getting the accounting correct’ would mean that the accounting reflects the substance of
the arrangements and applies the principles of the standards to reflect a true and fair view.
Remember that the objective of financial accounting is to provide useful information to users,
that is relevant and faithfully represent what it purports to represent.
Factors that could influence professional judgment in this context would be:
• Complexity and variation in arrangements, which leads to more possible alternative
accounting treatments
• The continent nature of these rebates involves uncertainties which need to be assessed
and evaluated and this can make these more problematic and ambiguous.
• Given the above, pressure from clients/companies to exercise professional judgment
‘favourably’ for the company.
• In addition, the apparent widespread ‘early’ booking of such rebates would seemingly
further justify that this may be ‘acceptable practice’.

Loading page 4...

Chapter 1: Contemporary issues in accounting
1.3
Contemporary issue 1.2
Blockchain technology: everything you need to know
Questions
1. This article explains that blockchain is both transparent and secure. Would the
adoption of a technology such as blockchain mean that accountants would no longer
need to use professional judgement in determining how to account for or report
transactions and events?
2. Identify any technologies or programs that are currently used in accounting firms or
for undertaking accounting tasks in businesses. Using the internet to research, are
there any developments or available alternatives for these technologies?
1. The simple answer is no; the introduction of blockchain does not mean that professional
judgment would no longer be required. This is because:
• The nature of blockchain is that it is essentially a database that is an alternative to the
traditional ledger. The advantage is in processing and also verification. However a
transaction would still need to be added to the database and determining how to
record the transaction would still require professional judgment. Further, financial
reporting requires the determination of what information to present (e.g. application
of materiality) and how, and such decisions would still require professional
judgement.
2. A simple internet search reveals that a range of programs and technologies are used in
accounting firms or to undertake accounting tasks. These range from:
• general programs (such as excel, word, email)
• accounting packages (such as MYOB) which are also now cloud based
• audit software (such as eAudit: IDEA Data Analysis)
• tax preparation software
• document management software for client files
• project management programs.
Answers re developments or alternatives will vary depending on what students find in their
searches. However predictions are that:
• There will be development of intelligent automated (smart) software that will replace
routine tasks and automate complex and multifaceted processes.
• Cloud based programs will increase.

Loading page 5...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.4
Contemporary issue 1.3
Some answers, more questions over Dick Smith failure
Questions
1. This article explicitly refers to earnings management research. How has this
research been used in this article to assist in explaining the Dick Smith failure?
2. The article states ‘If one subscribes to the conclusions within accounting research’.
This proviso implies that others may question the conclusions of the research used in
this article. Can you think of reasons why particular theories or research would not
be accepted?
3. This article states that the auditors, Deloitte, questioned the rebates, realised that
inventory values were too high, yet certified that the company was a going concern.
A review of the 2015 annual report indicates that inventory represented almost 60%
of total assets and was twice the net asset amount. However, in this report there is no
mention of these rebates or their impact on profit and the audit report does not
suggest any issues of concern. Referring to the previous definition of professional
judgement in this chapter, in your opinion what elements in that definition may not
have adequately been practiced?
1. Earnings management is defined there as “a manger’s use of accounting discretion through
accounting policy choices to portray a desired level of earnings in a particular reporting
period”. However as the article discusses, earnings can also be managed by not simply
manipulating accounting but by manipulating actual transactions or activities. This article has
used the research relating to ‘real activities management’ to analyse the actions of Dick Smith
to determine if the transactions (activities) entered into by the company have been chosen,
not on the basis of the ‘good business’, but because these transactions enabled the company
to improve their reported financial position. Further the research has been used to explain:
• Why Dick Smith used such earnings management strategies (as needed to ‘support’
expectation of growing business).
• That such earnings management strategies assist in short term and ultimately have a
negative effect in longer term (and so exacerbate issues for companies in financial
distress).
2. The conclusions referred to in the article are essentially that incentives for managers to
make decisions, not on basis of sustaining business but rather on managing earnings figures,
would increase and therefore, given that decisions not made to promote long term
profitability it was dangerous (in terms of the company’s survival).
However, the article notes research that indicates that 80% of CFOs surveyed indicated that
they would undertake some form of earnings management. Yet there is no indication that
such earnings management would result in such companies necessarily failing.
There may also be other theories that could explain the demise of Dick Smith or the actions
that were taken. For example, in the Enron scandal the corporate culture was implicated.

Loading page 6...

Chapter 1: Contemporary issues in accounting
1.5
3. The definition in the text from the American Accounting Association defines professional
judgment as:
Professional judgment is a process used to reach a well‐reasoned conclusion that is
based on the relevant facts and circumstances available at the time of the conclusion.
A fundamental part of the process is the involvement of individuals with sufficient
knowledge and experience. Professional judgment involves the [clarification of issues
and objectives, and the] identification, without bias, of reasonable alternatives;
therefore, careful and [unbiased] consideration of information that may seem
contradictory to a conclusion is key to its application. In addition, both professional
scepticism and objectivity are essential to the process and to reaching an appropriate
conclusion.
Professional judgment would have been required to make decisions regarding:
• The disclosure and accounting for the rebates
• The (over) valuation of inventory
• Assessment of whether the company was a going concern.
The article states Deloittes questioned (or was aware of some of these issues), but ultimately
did not exercise their professional judgment to, for example, require disclosure or changes in
accounting for the rebates (or indicate going concern basis dubious).
In relation to definition could be argued that:
• Given relevant facts and circumstances at the time conclusion reached was not ‘well-
reasoned”.
• Failure to consider information carefully or in unbiased way
• Did not exercise professional scepticism or objectivity.

Loading page 7...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.6
Review questions
1.1 ‘Accounting is merely a technical exercise and all accountants need to do is follow
the rules’. Drawing on your understanding of accounting, discuss whether this
statement is correct. (LO1)
Students should disagree with this statement and note the following:
• The nature of accounting is that it is not like a ‘hard science’ where there is one
correct answer.
• Although there are accounting standards that prescribe the accounting treatment for
specific transactions/events these often do not include ‘black and white’ rules. The
standards are primarily principles based requiring consideration of substance over
form and the exercise of judgement in applying these. The text notes that even simply
applications, such as choosing a depreciation method requires judgement. Further
some accounting standards allow a choice. As the text states:
The shift to principles‐based standards acknowledges that the mechanistic
compliance to a set of rules may not result in the accurate portrayal of the
economic substance events and transactions. Although guidance is provided in
the standards, the application of the principles requires the exercise of
judgement.
• As the text notes it is unlikely that the standards (‘rules’) will cover even possible
transaction/ event or directions for the application of the principles in even potential
scenario. Therefore judgment (and choices) will be required.
• The text notes that the standards often lag behind events and transactions in the real
world. Therefore even if the standards contained simple rules to follow, there may not
yet be standards about emerging new transactions.
1.2 What is meant by ‘professional judgement’? Consider the Pathways Vision Model
in figure 1.1 and explain the role of professional judgement in accounting. (LO1)
The definition in the text from the American Accounting Association defines professional
judgment as:
• Professional judgment is a process used to reach a well‐reasoned conclusion that is
based on the relevant facts and circumstances available at the time of the conclusion.
Students may consider common definitions such as:
• Judgment is the ability to make considered decisions.
• Professional is one engaged/qualified in a particular profession.
The American Accounting Association further states in relation to professional judgment
that:
• A fundamental part of the process is the involvement of individuals with sufficient
knowledge and experience. Professional judgment involves the [clarification of issues
and objectives, and the] identification, without bias, of reasonable alternatives;
therefore, careful and [unbiased] consideration of information that may seem
contradictory to a conclusion is key to its application. In addition, both professional
scepticism and objectivity are essential to the process and to reaching an appropriate
conclusion.

Loading page 8...

Chapter 1: Contemporary issues in accounting
1.7
Thus the first requirement for professional judgment is a person who has the requisite
knowledge and skill set given the particular context.
If we consider the pathways model (figure 1.1) this clarifies that:
• There are no ‘black and white’ choices but what the model calls ‘shades of grey’
• Thus judgments are required by accountants to determine the appropriate accounting
treatment and the resulting information to be provided.
• Critical thinking underpins accounting (i.e. professional) judgment. This would
include the need to:
- clarify the issues
- identify appropriate alternatives
- analyse carefully information.
All of these would require an understanding of objectives and evaluation of potential impacts.
From the Pathways model students should see that the role of professional judgment is
fundamental in accounting. This is evidenced by the fact that the American Accounting
Association have identified this as the defining attribute of the accounting profession.
Students may want to consider the alterative. If there was no need for judgment in
accounting, what role would an accounting professional have? If accounting was simply the
application of a set of specified and immutable rules - a mechanical exercise – surely a
software program could largely replace accountants.
1.3 Define what is meant by ‘theory’ and explain how theory is useful. Do you think
theory needs to be considered in accounting? (LO2)
As the text notes there is no simple definition of ‘theory’ and it can mean different things in
different contexts. The following are dictionary definitions of what a theory is:
• a belief or principle that guides actions or behaviour (such as behavioural theories of
positive reinforcement or theories in management about motivating employees)
• an idea or set of ideas that is intended to explain something (such as Darwin’s theory
of evolution)
• the set of principles on which a subject is based or of ideas that are suggested to
explain a fact or event (such as economic theory or the theory of relativity)
• more generally, a conjecture or an opinion.
Accountants are required to exercise professional judgment and underpinning this is critical
thinking. Critical thinking requires a considered analysis of information and, identification
and evaluation of alternatives. Professional judgment will also require (as outlined in the
Pathways model) accountants to decide, given their analysis, what information should be
provided to optimise decision making by users. Thus, students should see that theory (and
related research) will be required in the exercises of professional judgment. For example,
how could alternative accounting treatments or disclosures be considered without an
understanding of how information is used, or impacts on investment decisions?
So for example, theory needs to be considered in financial accounting to reflect the decision-
making behaviour of managers and investors, company policies, political activity or
professionalism of accountants.

Loading page 9...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.8
Accounting theory definition means as stated by Henderson et al. 2004 p. 4 ‘a description,
explanation or a prediction [of accounting practice based] on observations and/or logical
reasoning’…‘Logical reasons in the form of a set of broad principles that (1) provide a
general framework of reference by which practice can be evaluated and (2) guide the
development of new practice and procedures’
Students should discuss how theory can help in accounting. Theories can:
• describing and explaining current accounting practices
• predicting accounting practice
• providing principles to take into account when taking action or making decisions
• help to identify problems and deficiencies with current accounting practice and
improve accounting practice.
Examples are that a theory of accounting can:
a. provide a basis for action: for example, a theory of capital budgeting helps us with
choosing among investments; a theory of revenue recognition helps to determine
when and how revenue should be recognised; a theory of lease accounting helps with
accounting for leases
b. reveal deficiencies in practice: a theory of profit determination might reveal
deficiencies in the way we presently measure profit
c. improve practice: understanding deficiencies may promote change; understanding the
behaviour of decision makers may help us to supply better information
d. help with accounting standard setting; the conceptual framework is used as a basis for
drafting accounting standards.
1.4 It has been stated that ‘many people accept theories without justification’. Identify
reasons people may accept theories. Provide examples of theories that you accept or
believe although you may not have direct knowledge in the area. (LO3)
Students may identify various theories that they accept but have no expert or direct
knowledge of: e.g. theories re global warming, theories on punishment (e.g. that deters
crime), theories on black holes in space; theories on causes of diseases (such as genetic
depositions).
For many theories that a person considers, that particular individual may not have an in-depth
knowledge of the area relating to the theory. For example, I believe that the world is not flat
and that in fact the theory that the world is round is true. However, I am not a scientist; I have
not studied detailed evidence about this theory in any scientific or systematic manner, so
what makes me accept this theory, or other theories that are not in my area of expertise.
People accept theories every day that they may not fully understand (such as theories of
global warming; the theory of relativity; theories about how certain diseases are spread).
There are a number of reasons why we may accept theories without ‘first–hand’ or direct
knowledge, these include:
1. The authority of the source of the theory.
If the theory comes from a source perceived as having specific knowledge and expertise then
we may defer to their superior experience and wisdom. If the ‘experts’ in the area say it is

Loading page 10...

Chapter 1: Contemporary issues in accounting
1.9
true then we are more likely to believe it is true, particularly when the expert provides
evidence to support the theory. Statements and theories from eminent scientists or researchers
in an area, by teachers (such as university lecturers), from textbooks, even from media
sources (such as television and newspapers) are often viewed as authoritative. We are willing
to often accept a theory as correct due to whom or where the information about the theory
comes from (they wouldn’t say it if it isn’t true would they?).
2. It ‘fits’ with our own experience.
We are also more willing to accept a theory if the theory matches our own experiences and
observations. The theory that the earth is not flat and is in fact round agrees with my own
observations of the slightly curved horizon, and the sun setting so I am willing to accept this
theory.
3. It makes sense.
If a theory seems reasonable and sensible we will often accept it.
‘If a man is offered a fact that goes against his instincts, he will scrutinize it closely, and
unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is
offered something which affords a reason for acting in accordance to his instincts, he will
accept it even on the slightest evidence. (Bertrand Russell).
For example, there are various debates about how much alcohol is safe to drink and that one
or two drinks a day may actually be of benefit to a person’s health. Many people would
believe this is reasonable and further it may fit with their own preference to drink alcohol so
would accept this.
4. Perceived level of general acceptance.
A key influence on many people’s beliefs is what other people believe. If a theory appears to
be accepted by many people, particularly if it is repeated. For example, if a poll shows that
82% of people believe that introducing gun controls will reduce violent crime, you may be
more likely to accept this. This appeal to general acceptance is often used in advertising and
political campaigns, such as ‘3 million Frenchmen can’t be wrong. Buy a Renault’. Of
course, just because most people believe something does not make it true. As we noted
earlier, many people believed the world was flat but this did not mean that the world was in
fact flat.
These approaches to accepting theories are intuitive rather than scientific or systematic and
given that any individual’s expertise is necessarily limited, provide a practical and rational
way of determining whether an individual accepts a specific theory.

Loading page 11...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.10
1.5 Identify a theory that you have heard about (this can be about any area; e.g. global
warming). Consider how you would test whether this theory was true. Do you think
you could prove it? (LO4)
Think of a theory that describes what is happening or explains what is happening. The first
step in testing the theory would be to evaluate its logic. Is the theory logical and gives a valid
conclusion given its premises? So for example, there may be a theory about global warming
that measures the hole in the ozone layer and links this to changes in average temperatures.
The next consideration would be to consider the evidence. Does the evidence ‘fit’ with, or
perhaps contradict, the theory? For example, if the theory regarding temperature change
related to global warming simply predicted that the temperature may change whatever
happened, would fit with the theory and this could not really be tested. However if it made a
clear prediction — for example, that in 2008 temperatures in a particular region would
increase by 1% then we could test this by observing the temperatures in that region. If the
observations are not consistent with the predictions of the theory we have established then the
theory is incorrect. If the observations ‘fit’ with the theory then we can claim that the
evidence supports the theory (i.e. that it has not been contradicted or falsified). It is generally
accepted that theories cannot be ‘proved’ correct because of the problem of determining how
many ‘correct’ observations are enough to establish the truth of a theory.
Students should recognise that even well accepted theories (such as Einstein’s theory of the
Big Bang) have been later proven wrong when better observations have been able to be made.
1.6 What is your understanding of the term ‘research’? (LO4)
The Macquarie dictionary states that ‘research’ is:
• ‘diligent and systematic enquiry or investigation into a subject in order to discover
facts or principles’.
A view of research taken from FASB’s research and development is:
• Research is planned search or critical investigation aimed at discovery of new
knowledge with the hope that such knowledge will be useful in developing a new
product or service or new process or technique or in bringing about a significant
improvement in an existing product or for a significant improvement to an existing
product or process whether intended for sale or use. It includes the conceptual
formulation, design and testing of product alternatives, construction of prototypes,
and operation of pilot plants. It does not include routine or periodic alterations to
existing products, production lines, manufacturing processes, and other ongoing
operations even though these alternations may represent improvements and it does not
include market research or market testing activities.1
1 Financial Accounting Standards Board, Statement of Financial Accounting Standards No. 2 ‘Accounting for
Research and Development Costs’. Stamford, C.T: FASB, 1974) par 8.

Loading page 12...

Chapter 1: Contemporary issues in accounting
1.11
1.7 Explain the role of research and how this relates to theory. (LO4)
Students should firstly understand that research is activity. The relationship to theory depends
on the reason for the research being undertaken, the type of research and/or the
results/findings of the research. Research can be undertaken before any theory has been
formed or considered. The findings of such research could lead to the formation of a theory
(either positive or normative). Research can also be used to test theories. For example, you
could test the hypothesis of a positive theory and see if the findings match the predictions of
the theory.
Below some types of research are listed – these are not discussed in the text but may be
useful to provide examples to students of research. It may also be useful to have students
examine abstracts of academic articles and consider how the research in these relates to
theory.
Research may be exploratory, descriptive, investigative, causal or some combination of these
(Kent, 2001). Exploratory research aims at finding out whether or not something exists
(Dane, 1990, p. 8). As such it is about generating ideas, insights or hypotheses rather than
measuring, testing or evaluating those ideas, insights or hypotheses. For example, early
research in environmental accounting was aimed at finding out if companies were providing
environmental information in their annual reports. Descriptive research is concerned with
providing more detail (a more complete picture) about something, and so may involve
measuring the sizes, quantities or frequencies of characteristics, but not investigating the
relationships between them. For example, research in environmental accounting has
investigated the exact nature of the environmental disclosures made by companies by
recording the quantities of words included in reports about the environment and the nature
and type of environmental information provided. When the research focuses on the extent of
association or correlation between two or more variables, the research is investigative. This
may often involve predictions (i.e. if one event occurs can predict that another event will
occur) although it may not explain the cause of this link or correlation. For example,
researchers have investigated the question of what factors are associated with companies that
report environmental information and others that do not. Findings in this area have indicated
that there appears to be a correlation between the size of a company and the type of industry,
and whether it reports environmental information (e.g. that larger companies or companies in
more environmentally sensitive industries, such as mining, are more likely to include this
type of information in their annual reports).
Causal research extends the investigation by distinguishing between dependent and
independent variables, and examines the degree of, and reasons for, the influence of one or
more independent variables upon the one or more dependent variables. For example, this may
investigate the question as to why (what causes) companies that are large include
environmental information in their annual reports more often? Researchers have considered
that one reason could be to manage the relationships and expectations with stakeholders.

Loading page 13...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.12
1.8 Research can be classified in several ways. Outline them. (LO5)
The answer to 1.7 provides types/classifications of research in general. In accounting
research, there are 2 broad classifications. These are:
• research of or about accounting. This considers the broader role of accounting
• research in accounting which focuses more on the actual practice of accounting.
In addition research in accounting can be classified into particular areas (although these
overlap). The text identifies:
• Capital markets research. Capital-market research was undertaken by Ball & Brown
(1968) and Beaver (1968) that began the positive research stream. Their studies
investigated the use and impact of accounting information by capital markets.
• Accounting Policy choice research. Accounting policy choice research is commonly
known as positive accounting theory for its domination of research which began with
Watts & Zimmerman (1978). This research attempted to explain the motivation.
• Accounting Information Processing Research. Accounting information processing
research investigates the use and users of information in the decision-making process
and uses theories and models from psychology.
• Critical Accounting Research. Critical accounting research considers the role of
accounting in society and the social content.
• International Accounting Research. International accounting research considers the
call for uniform accounting standards worldwide and to harmonise financial
accounting.
1.9 Explain why case studies are used and outline the suggested steps in answering case
studies. (LO6)
Case studies are trying to portray a ‘real life’ problem but often in simplified form. This
allows students to:
• be exposed to some of the complexities of ‘real life’ problems
• practice integrating and applying discipline knowledge and theory
• develops analytical and critical thinking skills
• develops communication skills
• practice decision making and judgement, especially where alterative solutions are
possible.
The suggested steps in answering a case study are outlined in figure 1.2 of the chapter (on the
next page).

Loading page 14...

Loading page 15...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.14
Application question
1.10 (a) Search (either on the internet or via your library database) for academic
journals that publish research in accounting. Some examples of journals are:
• The International Journal of Accounting
https://www.journals.elsevier.com/the-international-journal-of-
accounting/
• Accounting, Auditing & Accountability Journal
http://www.emeraldgrouppublishing.com/products/journals/journals.htm
?id=aaaj
• Journal of Accounting Research
http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1475-679X
• Abacus
http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-6281
(b) Read the abstracts for three articles in the latest issue of two of the journals
you have located and for each abstract:
• identify the purpose of the research undertaken
• explain how this research could assist in improving accounting.
(LO4 and LO5)
(a) The answers here will depend on the articles chosen. To illustrate one example is included
below:
• Xingqiang Du, Wei Jian, Shaojuan Lai (2017) Do Foreign Directors Mitigate
Earnings Management? Evidence from China, The International Journal of
Accounting, Vol 52, Issue 2, pp. 142-177.
Abstract:
• In this study, we use a sample of Chinese companies to examine the monitoring role
of foreign directors in deterring earnings management. Our findings show that
earnings management is significantly negatively associated with the presence and
ratio of foreign directors on corporate boards. We further find that, under these
conditions, earnings management is less pronounced in state-owned enterprises as
compared to others. These findings are robust to various specifications of earnings
management as well as to the approach used in matching the treatment and control
samples. Interestingly, the negative impact of board membership of foreign directors
on earnings management varies with audit quality, IFRS convergence, investor
protection and the similarity or difference of the time zones of the foreign directors
and China.
(b)
(i) The aim of this research is to determine whether the inclusion of foreign directors impact
on earnings management (Earnings management is defined there as “a manger’s use of
accounting discretion through accounting policy choices to portray a desired level of
earnings in a particular reporting period”).

Loading page 16...

Chapter 1: Contemporary issues in accounting
1.15
(b)
(ii) Earnings management is undesirable as this undermines the core aim for financial
reporting to faithfully represent the performance of a company. As this research has found
that the presence where there are foreign board members there is less earnings management.
Prima facie students could argue that this could improve accounting by, for example, leading
to corporate governance requirements for foreign board members to reduce earnings
management. However care needs to be taken in interpreting any research findings. An
association found between 2 factors does not necessarily imply a causal link (Think of the
rooster crowing in the morning just before the sun rising). For example, in this instance it
may be that the culture of the companies with foreign directors mitigates earnings
management overall, rather than simply the presence of foreign directors.

Loading page 17...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.16
Case study questions
Case study 1.1
Economic theories that have changed us: efficient markets and behavioural finance
Questions
1. Briefly outline the two theories that are explained in this article.
2. The article states that these theories prescribe opposite actions for investors. If you
were considering investing in the share market, which theory would you follow?
How did you decide?
3. Discuss whether you believe that these theories have any relevance to, or
implications for, accounting or accountants?
4. The article states ‘there are two things that never makes any sense: investing in a
stock because you think it’s a good company . . . or picking an industry that you
think is going to do well’. Does this mean that you should invest in bad companies,
or if the industry is doing poorly? Explain your answer.
5. Discuss how this article may illustrate the overall limitations of theories.
(LO2, LO3 and LO6)
1. The first theory is the efficient market. This essentially argues that stock (share) prices
reflect all available information.
The second theory is behavioural science. This essentially argues that decision makers (in this
instance investors) do not act in rational or unbiased fashion but base investment decisions
often on cognitive biases.
2. As the article states:
• If accept efficient market hypothesis, then investors cannot ‘pick’ or identify good
or bad buys by analysing information and as such should diversify their
investments.
• If accept behavioural science view then you can potentially (although as article
states this is difficult) identify mispriced stocks (these are mispriced due to
cognitive biases) and therefore earn profit (above overall market returns).
In deciding which theory to follow students should consider:
• Evidence for each theory. The article argues that evidence confirms behavioural
science view, but that in long run stock prices conform to efficient market hypothesis.
Further evidence supports the ‘random walk’ of stock prices.
• Personal factors such as:
o are you investing for short or long term?
o do you have the requisite knowledge or skills to take advantage of the
potential profits to be made accepting behavioural science view?
o what level of risk are you willing to accept?

Loading page 18...

Chapter 1: Contemporary issues in accounting
1.17
3. These theories are used in capital market research which is an important research area in
accounting. Given that a key role for financial reporting is that accounting information should
be useful to investors there is an assumption that accounting informs investment decisions,
including those relating to stock/share transactions. Cleary these 2 theories have implications
for accounting as these propose different ways investors use information in their decision
making..
4. The statement in the article is not suggesting that you should invest in a bad company or an
industry that is doing poorly. What it is saying is that the fact that a company is ‘good’ (or
industry doing well) – by this we assume for example, profitable or has high returns – is not
on its own a valid reason for purchasing shares in that company or industry. The decision to
invest in a stock/share should be based on the expected return and risk (this will be by
considering such issues as dividends and changes in share prices) given the investment
timeframe. For example:
• Evidence suggests that a company’s stock price may be temporarily higher following
a unexpectedly good earnings announcement. Further, according to the efficient
market hypothesis the fact that a company is ‘good’ would already be factored into
the stock price.
• The stock prices of companies in an industry doing poorly may offer more
opportunity for higher expected returns, especially if prices have fallen and, if
accepting the behavioural science view, investors may have overreacted to
unexpected bad news.
5. Students could discuss:
• These two theories provide contradictory prescriptions of how to invest in stocks yet
there is evidence to support each of these. How then can someone decide what action
should be taken?
• Both theories make general predictions. This means these may be of limited use to an
individual investor or a specific investment decision.

Loading page 19...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.18
Case study 1.2
Accounting for power: the history of an industry that shaped the world
Questions
1. Do you think the claims made in this article about the impact of accounting on the
world are consistent with the role of accounting as depicted in the Pathways Vision
Model in figure 1.1? Explain your answer.
2. The article infers that accounting has privileged corporate interests over broader
social interests. Identify an example of this from the article. Do you believe that
accounting has a role in balancing the interests of corporations and society?
3. The article claims that ‘complexity brought creativity’ and that accountants
‘exploited loopholes’. Can you suggest any ways to reign in ‘creativity’ by
accountants? Do you believe that more exact accounting rules (rather than
principles‐based rules) would help solve the problem of creative accounting?
(LO1 and LO6)
1. The Pathways vision model shows a clear link between the information provided via the
accounting process and the prosperity of society – it explicitly recognises the impact
accounting information has on decision making which subsequently has economic (and
social) impacts.
The article claims also recognises this by arguing that accounting ‘has become a key social
technology of a capitalist society’ and ‘is a set of practices that affects the social reality we
inhabit’. Thus in this sense the article is consistent with the Pathways vision model as it
recognises the key impacts (and affects) that accounting can have on society.
2. The article argues that accounting:
• Enabled growth via allowing separation of ownership and management and
ultimately stock markets.
• Underpinned imperial expansion and advance of global capitalism.
• As its key role was to control and protect investments accounting privileged the
wealthy (those with capital) and determines income distribution and thus is complicit
in the concentration (uneven distribution) of wealth in society.
• Creative accounting has allowed corporations to minimise taxes.
One example from the article relates to the British Empire and the fact that any part of the
British Empire was subject to the British accounting models (which were based on the
accounting system, largely drawn from the industrial revolution) and that protected corporate
interests.
Whether or not students believe that accounting has a role in balancing the interests of
corporations and society, or how far this role should extend, will depend at least in part on
personal beliefs and this is subjective.
For example, those who believe that free market forces will result in growth and overall
increases in prosperity would probably argue that the accounting profession’s (in particular
financial reporting) role is limited, and that social interests should be determined by
governments.

Loading page 20...

Chapter 1: Contemporary issues in accounting
1.19
Others would argue that since accounting information is used so pervasively in decisions,
particularly about allocation of resources, that the accounting has a duty to consider the wider
impacts on society. The call for environmental accounting and triple bottom line reporting is
an example of this.
The Pathways vison model suggests that accounting has consequences and if professional
judgment results in optimal information this will lead to ‘good’ decisions and a ‘prosperous’
society. However what a particular individual considers ‘good’ or ‘prosperous’ will depend
on their individual beliefs and philosophies.
Students may also note the issue of accountability of accountants. Is this to their client (who
pays them and who they have a legal duty to service within legal restraints) or is their
accountability wider?
3. Creativity in accounting is essentially where but accounting choices are made to manage or
distort the information in the financial reports (usually resulting in these being biased and not
providing a true and fair view). In most cases, the rules (accounting standards) are followed
but the way these are applied deviates from the spirit of principles embodied in the
accounting standards. Creativity can also be via the manipulation or creation of
events/transactions (for example, sham sales or selling assets at a profit just prior to end of
year to offset losses, or structuring a contract so that it falls outside the ambit of a particular
accounting requirement– i.e. exploiting a loophole). Complexity is usually associated with
such creativity, as it would be more difficult to justify or obscure ‘creative’ choices for more
simple and transparent transactions.
Students could identify various possibilities to reign in creativity by accountants (see below)
but should also consider how effective these would be. Possible means to reign in are:
• legal sanctions (but if following letter or law then these would not be effective)
• ensuring independence of accountants (There are for example requirements for
independence of auditors).
• requiring disclosure where choices or assumptions have been made. This would make
judgments more transparent. However given complexity would this be effective.
• placing ethical duties/obligations on accountants. (Professional bodies do have ethical
standards that they expect/require members to comply with).
More exact accounting rules it could be argued could reign in some creative accounting
techniques. Prima facie if there are specific rules then accountants cannot use
judgment/discretion to manipulate financial results.
However, even if rules based standards were to replace principles based standards:
• These would need to be very specific, extensive and complex to cover ever potential
situation/event/transaction. It is therefore unlikely that judgment/discretion would be
completely replaced (the judgment may relate to deciding which rule applies in the
particular situation).
• The move to principles based standards was, at least in part, driven by history that
showed specific rules could be manipulated and could lead to the structuring of
transactions to avoid certain rules. For example, in the US lease contracts were
devised specifically to avoid the requirements to account for finance leases (as a

Loading page 21...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.20
previous leasing standard contained ‘exact’ rules). Financial scandals including Enron
and Worldcom also involved structuring transactions around certain ‘rules’.
• Rules based standards would usurp higher ethical standards. The focus would be on
complying with the rules, rather than providing the ‘best’ information and a true and
fair view.
.

Loading page 22...

Chapter 1: Contemporary issues in accounting
1.21
Case study 1.3
Abstracts from critical accounting research
Questions
1. In each of these abstracts the notion of true or fair accounting for financial
statements is considered. Identify any requirements in accounting standards or
corporations legislation that relate to the truth or fairness of financial statements or
reports.
2. Can you think of reasons why there could be claims that financial statements that
are prepared in accordance with accounting standards are not true or fair?
3. The first abstract states that current accounting ‘may disenfranchise those parties
to the dispute whose issues are not readily expressed in the common vocabulary of
business’. What do you think the author means by ‘the common vocabulary of
business’? Given this, what type of issues may not be included in accounting reports
or statements and how could their exclusion impact on decision making?
(LO1 and LO6)
1. The accounting standards require that the financial statements provide a fair presentation
and state:
• Financial statements shall present fairly the financial position, financial performance
and cash flows of an entity. Fair presentation requires the faithful representation of the
effects of transactions, other events and conditions in accordance with the definitions
and recognition criteria for assets, liabilities, income and expenses set out in the
Framework. The application of IFRSs, with additional disclosure when necessary, is
presumed to result in financial statements that achieve a fair presentation. (IAS
1/AASB 101, para 15).
It should be noted that the concept of faithful presentation and whether there can be a true
and fair view is contested.
In Australia corporations law, S297, requires that:
• The financial statements and notes for a financial year must give a true and fair view
of:
(a) the financial position and performance of the company, registered scheme or
disclosing entity; and
(b) if consolidated financial statements are required--the financial position and
performance of the consolidated entity.
This section does not affect the obligation under section 296 for a financial report to comply
with accounting standards.
Note: If the financial statements and notes prepared in compliance with the accounting
standards would not give a true and fair view, additional information must be included in the
notes to the financial statements under paragraph 295(3)(c).
There is similar legislation in many countries.

Loading page 23...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
1.22
2. The assumption made in the standards is that compliance with accounting standards will,
expect in rare cases, result in a true and fair view. Reasons for considering that financial
statements prepared in accordance with accounting standards may not present a true and fair
view could include:
• Some accounting standards do not allow professional judgment and have set rules,
regardless of whether these rules reflect the substance. For example, internally
generated intangible assets (such as goodwill, brands) are not permitted to be
recognised under current standards, yet these may be valuable assets to an entity.
Another example is that in the previous leasing standards no assets or liabilities are
recognised for operating leases despite the fact that most of these leases would meet
the definition and recognition criteria for such elements under the conceptual
framework (Note: this deficiency was acknowledged and this standard has now
been revised).
• From a critical perspective, the limitations of information provided by accounting
render these statements incomplete and biased, toward financially measurable
elements, and so would not be considered true and fair (see answer to 3 below).
Students may identify further reasons.
3.
• The common vocabulary of business here would refer to monetary or dollars values
(so financially measurable elements). This is also normally restricted to ‘direct’ and
measurable costs and benefits (so other factors, e.g. externalities such as pollution
or employee satisfaction/morale are not included unless directs costs associated
with these). Further, the prime objective of business is ‘profit’ and this profit
orientation is reflected in what is included and how measured and gives primacy to
economic factors/issues and often short term outcomes.
• A few of the issues not included would be social justice, environmental concerns,
and social equity issues. Typically decision making frameworks suggest that
decision makers should take into account both qualitative and quantitative factors.
However if the variable /factors considered are restricted to those in the financial
statements this will effectively exclude most qualitative factors. A quote by John F
Kennedy (although this is in the context of gross national product, this illustrates the
limitations of quantitative information and hence can be extrapolated to accounting
issues).
- Gross National Product counts air pollution and cigarette advertising, and
ambulances to clear our highways of carnage. It counts special locks for our
doors and the jails for the people who break them. It counts the destruction
of the redwood and the loss of our natural wonder in chaotic sprawl. It
counts napalm and counts nuclear warheads and armoured cars for the
police to fight the riots in our cities. It counts Whitman's rifle and Speck's
knife, and the television programs which glorify violence in order to sell
toys to our children. Yet the gross national product does not allow for the
health of our children, the quality of their education or the joy of their play.
It does not include the beauty of our poetry or the strength of our marriages,
the intelligence of our public debate or the integrity of our public officials. It
measures neither our wit nor our courage, neither our wisdom nor our
learning, neither our compassion nor our devotion to our country, it
measures everything in short, except that which makes life worthwhile.
(Robert F. Kennedy, University of Kansas, March 18, 1968).

Loading page 24...

Chapter 2: The Conceptual Framework of Financial Reporting
2.1
Chapter 2: The Conceptual Framework of Financial Reporting
Contemporary issue 2.1
No need for prudence
Questions
1. Do you agree or disagree that re‐including prudence in the Conceptual Framework is
a bad idea? Give reasons for your answers.
2. How would you choose to measure the liability in the example if:
(a) the framework did include the definition of prudence (as defined in the
Proposed Framework)
(b) no reference to prudence was included in the conceptual framework
(c) prudence was included but was defined as asymmetrical prudence?
3. Reflecting on your answers in question 2, what impact would these alternatives have
on the quality and usefulness of financial reports?

Loading page 25...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
2.2
1. For background: the definition of prudence in the Proposed Framework is ‘the exercise of
caution when making judgements under conditions of uncertainty’(2.18). This is interpreted
as ‘cautious prudence — being equally cautious when making judgements about any items,
‘without needing to be more cautious in judgements relating to gains and assets than those
relating to losses and liabilities’ rather than asymmetric prudence. The IASB argues that this
is consistent with neutrality; ‘A neutral depiction is without bias in the selection or
presentation of financial information (2.17).’
It will be a personal position as to whether or not students agree with re-including prudence.
Some arguments for/against would be:
• Unnecessary to include as professional judgment would require care/caution to be
applied where there is uncertainty even if prudence was not explicitly included in the
framework.
• Inclusion causes more confusion as there can be different interpretations, especially if
guidance lacking.
• Is useful to include as emphasises need (and therefore an obligation/duty) to
especially take care in conditions of uncertainty.
• Could argue that unnecessary for application, however as many constituents argued
for its reintroduction, a compromise made to assist in acceptance of changes to the
framework (so political reason).
2. Students should recall that relevance and faithful representation are the two fundamental
characteristics that information needs to have to be useful for users. So these need to be
considered. As noted above prudence supports neutrality which is part of a faithful
representation. A faithful representation requires representation to faithfully what it purports
to represent and to be complete, neutral and free from error. This also requires a description
of what the number represents.
There are no correct answers to (a) to (c) below as this is open to interpretation (and
balancing the fundamental qualitative characteristics) but possible choices are provided.
2. (a) Could argue $250. This takes into account all of the information known, but is not the
lowest amount (so a cautious approach).
2. (b) Could argue either $100, as this the most likely amount, or the expected value of $250,
as this factors in all the known information objectively.
However it could be argued I would argue that the same measures would be used for both (a)
and (b) as prudence in the Proposed Framework is supporting neutrality.
2. (c) As focus is on ensuring liabilities not understated then could argue $500, as with any
other measure there is the possibility that liability is understated.
3. With these small numbers in the example, it probably would not impact on quality or
usefulness. However if these were in millions and larger variations, then they could be
material. If for example, included ‘additional’ $400 million in expenses and provisions, when
this is unlikely to occur, this could be argued to be distorting the financial
positon/performance.

Loading page 26...

Chapter 2: The Conceptual Framework of Financial Reporting
2.3
Contemporary issue 2.2
New lease accounting to have big impact
Questions
1. Consider the definitions of an asset and liability in the Proposed Framework. Would
a 5-year lease for land meet these definitions?
2. The extract discusses the fact that these changes reflect the way in which accounting
is moving — that is, towards putting all assets and liabilities on the balance sheet.
What reasons could there be for this move? Is this consistent with the approach in
the Proposed Framework? Given the identified impact on key company ratios, do
you believe this approach is justified?

Loading page 27...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
2.4
1. Student should apply the definitions of an asset and a liability from the Proposed
Framework:
In the Proposed Framework an asset is:
• An asset is a present economic resource controlled by the entity as a result of past
events (para 4.5). Further an economic resource is defined in para 4.6 as ‘a right that
has the potential to produce economic benefits’.
Therefore would meet definition as: it is an economic resource. The use of the land can result
in benefits/cash flows and constitutes via the lease contract a right. Paragraph 4.8 states:
• 4.8 Rights that constitute economic resources may take the following forms:
(a) rights established by contract, legislation or similar means, such as:
(ii) rights over physical objects, such as property, plant and equipment or
inventories. Such rights may include ownership of a physical object, the right to
use a physical object or the right to the residual value of a leased object.
Control would be established as given the contract the lessee can obtain the benefits from
using the asset.
Past event: would be lease contract that gave rise to lessee having right of use of asset and
controlling and accessing benefits.
In the Proposed Framework a liability is:
• A liability is a present obligation of the entity to transfer an economic resource as a
result of past events (4.24).
The transfer or economic resources would be the meeting of lease payments).
Present obligation: under leasing contract would assume have legal obligation to make
payments.
Past event: would be lease contract that gave rise to obligation.
Note: the previous accounting standard on leases, AASB 117 Leases, overrode the general
recognition criteria for liabilities and requires liabilities in relation to finance leases to be
recognised. A finance lease is a lease in which substantially all of the risks and rewards
incidental to ownership have been transferred from the lessor (legal owner of the property) to
the lessee (one who is using the property) (AASB 117 para 4). Given that land has an
indefinite life a 5 year lease of land would be classified as an operating lease and would not
give rise to an asset or liability. Under the new leasing standard, AASB 16, these changes and
an asset and a liability would be recognised.

Loading page 28...

Chapter 2: The Conceptual Framework of Financial Reporting
2.5
2. Reasons towards the move towards putting all assets and liabilities on the balance sheet
would be:
• Based on principles & objectives of financial reporting: To be consistent with the
conceptual framework all items that meet the definition and recognition criteria of
assets and liabilities should be included on the balance sheet. Also to be complete and
so representationally faithful would argue that need to include all elements. Surely
information about the assets and liabilities of an entity would be relevant to users.
• Improves comparability as does not distinguish on form or arbitrary rules but reflects
economic substance. For example, under the previous lease accounting 2 entities
could have identical items of land – one entity owns and one leases (as operating
lease). The different accounting treatment would result in one entity including an
asset but the leasing one not. This would distort ratios such as return on assets etc. and
make comparison difficult.
• Reduces opportunities to structure transactions on order to reflect a particular
financial position (this could include maintaining certain ratios). If all assets and
liabilities meeting the recognition criteria are required to be included on the balance
sheet then this limits the ability of entities to choose or plan transactions to avoid
including these on their balance sheet or in particular to ‘hide’ obligations/
/commitments. Under the current leasing arrangements company may decide to lease
land rather than purchase (even those costs and commitments may be relatively equal)
as leasing will avoid the recognition of the lease liability and asset. It could be argued
that the use of special purpose entities by Enron which were not required to be
included on the balance sheet and were used to hide debt is an example of structuring
transactions to reflect a particular financial position.
Cleary including all assets and liabilities on the balance sheet would impact on key financial
ratios. Whilst it could be argued that this could disadvantage some companies (for example,
if they are now required to include such assets and liabilities this could mean that they may
breach debt covenant ratios and incur costs unless they are able to renegotiate debt
terms/covenants). However an alternative argument is that if all assets and liabilities are
included then this provides a more complete and representationally faithful view of the
financial position and hence the ratios are more ‘accurate’ and useful.

Loading page 29...

Solution manual to accompany: Contemporary issues in accounting 2e by Rankin et al.
2.6
Contemporary issue 2.3
Intangible assets hold real value
Questions
1. The extract discusses the ban from including most intangible assets in the balance
sheet unless acquired. Consider whether some, or all of such ‘banned’ intangibles
would meet the definition of an asset and criteria for recognition in either the
Conceptual Framework or the Proposed Framework.
2. Do you believe the inconsistent treatment between purchased versus internally
generated items is justified?
3. If the financial statements are ‘leaving out’ most of the important assets, what does
this imply for the usefulness of financial statements for users?

Loading page 30...

Chapter 2: The Conceptual Framework of Financial Reporting
2.7
1. In the Proposed Framework an asset is:
• An asset is a present economic resource controlled by the entity as a result of past
events (para 4.5). Further an economic resource is defined in para 4.6 as ‘a right that
has the potential to produce economic benefits’.
Therefore such a banned intangible (e.g. an internally created brand, or customer list) would
normally meet definition as:
• It is an economic resource. The use of the brand can result in benefits/cash flows and
the entity would have right.
Paragraph 4.8 states:
• 4.8 Rights that constitute economic resources may take the following forms:
(a) rights established by contract, legislation or similar means, such as:
(vi) intellectual property rights, for example, registered patents.
(c) other rights that give the entity the potential to receive future economic benefits
that are not available to all other parties, for example, rights to the economic benefits
that may be produced by items such as know-how not in the public domain or by
customer or supplier relationships. (see paragraph 4.20).
Control would be established. This could be via contract or legislation (e.g. registration of
brand name) or as access to benefits determined by the entity.
The Proposed Framework states:
• 4.19 An entity has the ability to direct the use of an economic resource if it has the
right to deploy that economic resource in its activities, or to allow another party to
deploy the economic resource in that other party’s activities.
• 4.20 Although control of an economic resource usually arises from legal rights, it can
also arise if an entity has the present ability to prevent all other parties from directing
the use of it and obtaining the benefits from the economic resource. For example, an
entity may control know-how obtained from a development activity by having the
present ability to keep that know-how secret.
Past event: would be activities of the entity that created the brand (or customer list).
Recognition criteria:
In the Proposed Framework recognition is specified in para 5.9. An item meeting the
definition is recognised if such recognition provides users of financial statements with:
(a) Relevant information about the asset or the liability and about any income, expenses
or changes in equity.
- Cleary information about such intangibles would be relevant to users. Where there
is some uncertainty about obtaining the benefits, then this would normally be
reflected in the measurement (unless such low probability that may not be
relevant).
(b) A faithful representation of the asset or the liability and of any income, expenses or
changes in equity (extracts from para 5.9).
• Given that to include in the statements (recognise) we need to place a $ amount
against the item this could be more problematic.

Loading page 31...

30 more pages available. Scroll down to load them.

Preview Mode

100%

Study Now!

XY-Copilot AI

Unlimited Access

Secure Payment

Instant Access

24/7 Support

AI Assistant

Document Details

Subject

Accounting

Solution Manual for Contemporary Issues in Accounting, 2nd Edition

Study Now!

Document Details

Related Documents

Financial Accounting: A Critical Approach 2013, 4th Edition Test Bank

Introduction To Managerial Accounting With Connect With Smartbook, 4th Edition Test Bank

Test Bank For Intermediate Accounting: Reporting and Analysis, 3rd Edition

Modern Advanced Accounting In Canada, 7th Edition Test Bank

Test Bank for Advanced Accounting, 13th Edition

Financial Accounting: A User Perspective , 6th Canadian Edition Solution Manual

Financial Accounting Theory And Analysis: Text And Cases, 10th Edition Solution Manual

Accounting Theory, 7th Edition Solution Manual

Solution Manual for Horngren's Cost Accounting, 17th Edition

Company Accounting: Australia-New Zealand, 5th Edition Solution Manual