by Collins, Hanlon

ISBN: 0000000000 | Copyright 2020

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Skills for Accounting Research, 4e (pg. 1.208)
Chapter 8 Fair Value Measurements in the Codification (pg. 1.208)
Fair Value Overview (pg. 1.210)
What Is Measured at Fair Value? (pg. 1.210)
Now [ YOU ] Try 8.1 (pg. 1.211)
How Is Fair Value Measured? (pg. 1.211)
Now [ YOU ] Try 8.2 (pg. 1.212)
The Fair Value Hierarchy (pg. 1.212)
Now [ YOU ] Try 8.3 (pg. 1.213)
The Debits and Credits: How Are Changes in Fair Value Reported? (pg. 1.214)
Now [ YOU ] Try 8.4 (pg. 1.214)
Now [ YOU ] Try 8.5 (pg. 1.215)
How Do I Navigate Fair Value Guidance? (pg. 1.215)
Organization of ASC 820 (pg. 1.216)
In What Other Circumstances Are Fair Value Measurements Permitted Or Required? (pg. 1.217)
What Is The Relationship Between Fair Value and Present Value? (pg. 1.221)
Contributions Payable: Measuring Fair Value Using an Income Approach (pg. 1.222)
Now [ YOU ] Try 8.8 (pg. 1.223)
Valuation Technique Disclosures: An Insight Into How Fair Value Measurements Are Performed (pg. 1.224)
Now [ YOU ] Try 8.9 (pg. 1.224)
Fixed Assets: Testing For Impairment Using Fair Value (pg. 1.225)
Now [ YOU ] Try 8.10 (pg. 1.226)
Now [ YOU ] Try 8.11 (pg. 1.229)
Chapter Summary (pg. 1.231)
Review Questions (pg. 1.231)
Exercises (pg. 1.232)
Case Study Questions (pg. 1.233)
Chapter 12 The International Research Environment (pg. 1.352)
Introduction (pg. 1.354)
IFRS: The Predominant Global Financial Reporting Framework (pg. 1.354)
A Brief History of International Standards (pg. 1.354)
Now [ YOU ] Try 12.1 (pg. 1.355)
When Are Financial Statements Required Internationally? (pg. 1.355)
Now [ YOU ] Try 12.2 (pg. 1.356)
The IFRS Foundation and Its Standard-Setting Bodies (pg. 1.357)
Standard-Setting Bodies of the IFRS Foundation (pg. 1.358)
Governance and Oversight of the IFRS Foundation (pg. 1.359)
Advisory Bodies of the IFRS Foundation (pg. 1.360)
Now [ YOU ] Try 12.4 (pg. 1.360)
Funding for the IFRS Foundation (pg. 1.361)
International Financial Reporting Standards (IFRS) (pg. 1.361)
Applicability of IFRS (pg. 1.361)
Now [ YOU ] Try 12.5 (pg. 1.362)
Now [ YOU ] Try 12.6 (pg. 1.362)
Now [ YOU ] Try 12.7 (pg. 1.363)
Understanding “Full IFRS” (pg. 1.364)
Now [ YOU ] Try 12.8 (pg. 1.364)
Now [ YOU ] Try 12.9 (pg. 1.365)
Now [ YOU ] Try 12.10 (pg. 1.365)
Now [ YOU ] Try 12.11 (pg. 1.367)
Now [ YOU ] Try 12.12 (pg. 1.368)
Performing IFRS Research (pg. 1.368)
Now [ YOU ] Try 12.13 (pg. 1.369)
Now [ YOU ] Try 12.14 (pg. 1.371)
Statement of Compliance with IFRS (pg. 1.372)
Now [ YOU ] Try 12.15 (pg. 1.373)
IFRS for Small and Medium-Sized Entities (pg. 1.373)
Now [ YOU ] Try 12.16 (pg. 1.375)
How Do I Know Whether IFRS Applies to a Particular Country? (pg. 1.375)
Now [ YOU ] Try 12.17 (pg. 1.376)
When Are International Standards Relevant to U.S. Accountants? (pg. 1.376)
Foreign Private Issuers (pg. 1.377)
Now [ YOU ] Try 12.18 (pg. 1.378)
U.S. Nonpublic Companies (pg. 1.378)
Other Areas Relevant to U.S. Accountants (pg. 1.378)
Now [ YOU ] Try 12.19 (pg. 1.379)
Citing International Accounting Standards (pg. 1.379)
Nonauthoritative Resources (pg. 1.380)
Deloitte’s IAS Plus Website (pg. 1.380)
Comparison Guides (pg. 1.380)
Other Resources (pg. 1.380)
Appendix 12A: International Auditing Standards (pg. 1.381)
When Do International Auditing Standards Apply? (pg. 1.381)
The International Federation of Accountants (IFAC) and Its Standards Boards (pg. 1.382)
Now [ YOU ] Try 12.20 (pg. 1.383)
Comparing International Audit Reports (pg. 1.385)
Now [ YOU ] Try 12.21 (pg. 1.385)
Chapter Summary (pg. 1.387)
Review Questions (pg. 1.387)
Exercises (pg. 1.388)
Case Study Questions (pg. 1.389)
Additional References (pg. 1.390)
Chapter 13 Delivering Effective Presentations (pg. 1.392)
When Will I Use Presentation Skills in Practice, and What Is the Format? (pg. 1.394)
Presentation Formats (pg. 1.395)
Now [ YOU ] Try 13.1 (pg. 1.395)
What Are the Qualities of a Great Presentation? (pg. 1.395)
Creating Effective Content (pg. 1.396)
Now [ YOU ] Try 13.2 (pg. 1.397)
Find Ways to Make the Information Resonate (pg. 1.397)
Now [ YOU ] Try 13.3 (pg. 1.398)
How Much Detail Should I Include in My Slides? (pg. 1.398)
Now [ YOU ] Try 13.4 (pg. 1.399)
Does Font Choice Matter? (pg. 1.400)
Use Consistent Bullet Style (pg. 1.400)
Now [ YOU ] Try 13.5 (pg. 1.400)
Edit Your Presentation (pg. 1.401)
Delivering a High-Quality Presentation (pg. 1.401)
Tips for Powerful Body Language (pg. 1.401)
Now [ YOU ] Try 13.6 (pg. 1.402)
What If You Have a Fear of Presenting? (pg. 1.403)
Think beyond the Case Facts (pg. 1.403)
What Should You Wear? (pg. 1.404)
Considerations for Those Working in a Group (pg. 1.404)
What If a Member of My Group Is a Non-native English Speaker? (pg. 1.405)
Now [ YOU ] Try 13.7 (pg. 1.406)
Chapter Summary (pg. 1.406)
Review Questions (pg. 1.406)
Exercises (pg. 1.407)
Case Study Questions (pg. 1.407)
Intermediate Accounting, 2e (pg. 2.7-1)
Chapter 7: Revenue Recognition (pg. 2.7-1)
LO 7-1 Apply the five-step revenue recognition process (pg. 2.7-3)
Demo 7-1 Application of the Five-Step Revenue Recognition Process (pg. 2.7-4)
Review 7-1 Application of the Five-Step Revenue Recognition Process (pg. 2.7-5)
LO 7-2 Identify the contract with the customer-Step 1 (pg. 2.7-5)
Conditions of a Valid Contract (pg. 2.7-6)
Demo 7-2 Validity of a Contract (pg. 2.7-7)
Review 7-2 Validity of a Contract (pg. 2.7-8)
LO 7-3 Identify the performance obligations in the contract-Step 2 (pg. 2.7-8)
Identification of Separate Performance Obligation(s) (pg. 2.7-9)
Demo 7-3 Identification of Separate Performance Obligation(s) (pg. 2.7-11)
Review 7-3 Identification of Separate Performance Obligation(s) (pg. 2.7-13)
LO 7-4 Determine the transaction price-Step 3 (pg. 2.7-13)
Fixed Consideration (pg. 2.7-14)
Variable Consideration (pg. 2.7-14)
Demo 7-4A Estimating Transaction Price when it Includes Variable Consideration (pg. 2.7-15)
Demo 7-4B Reducing the Transaction Price for Consideration Payable (pg. 2.7-16)
Review 7-4 Transaction Price (pg. 2.7-18)
LO 7-5 Allocate the transaction price to performance obligations in the contract-Step 4 (pg. 2.7-18)
Adjusted Market Assessment Approach (pg. 2.7-19)
Expected Cost Plus a Margin Approach (pg. 2.7-19)
Residual Approach (pg. 2.7-19)
Demo 7-5A Transaction Price Allocation-Standalone Selling Prices Are Observable (pg. 2.7-20)
Demo 7-5B Transaction Price Allocation-Standalone Selling Prices Are Estimated (pg. 2.7-21)
Review 7-5 Allocation of Transaction Price (pg. 2.7-22)
LO 7-6 Recognize revenue when (or as) the seller satisfies a performance obligation-Step 5 (pg. 2.7-22)
Recognition of Revenue Over Time (pg. 2.7-23)
Recognition of Revenue at a Point in Time (pg. 2.7-24)
Contract Liabilities and Contract Assets (pg. 2.7-24)
Demo 7-6A Recognition of Revenue at a Point in Time (pg. 2.7-25)
Demo 7-6B Recognition of Revenue Over Time (pg. 2.7-26)
Demo 7-6C Recognition of License Revenue (pg. 2.7-29)
Review 7-6 Revenue Recognition (pg. 2.7-30)
LO 7-7 Recognize revenue after a contract modification (pg. 2.7-30)
Demo 7-7 Revenue Recognition with a Contract Modification (pg. 2.7-31)
Review 7-7 Contract Modification (pg. 2.7-32)
LO 7-8 Recognize revenue in more complex revenue arrangements (pg. 2.7-33)
Bill-and-Hold Arrangement (pg. 2.7-33)
Demo 7-8A Transfer of Control under a Bill-and-Hold Arrangement (pg. 2.7-33)
Consignment Arrangement (pg. 2.7-34)
Demo 7-8B Transfer of Control under a Consignment Arrangement (pg. 2.7-34)
Repurchase Arrangement (pg. 2.7-35)
Demo 7-8C Transfer of Control under Repurchase Arrangements (pg. 2.7-35)
Principal/Agent Arrangement (pg. 2.7-36)
Demo 7-8D Estimating Revenue for Principals and Agents (pg. 2.7-37)
Review 7-8 Complex Revenue Arrangements (pg. 2.7-38)
LO 7-9 Describe accounting for contract costs and disclosure requirements for revenue recognition (pg. 2.7-39)
Contract Costs (pg. 2.7-39)
Demo 7-9 Accounting for and Reporting of Contract Costs (pg. 2.7-40)
Financial Reporting (pg. 2.7-41)
Financial Statement Disclosures (pg. 2.7-41)
Review 7-9 Contract Costs and Revenue Disclosures (pg. 2.7-42)
Management Judgment (pg. 2.7-42)
Step 1: Identify contract(s) with customer (pg. 2.7-43)
Step 2: Identify performance obligation(s) in the contract (pg. 2.7-43)
Step 3: Determine the transaction price (pg. 2.7-43)
Step 4: Allocate transaction price to performance obligation(s) (pg. 2.7-43)
Step 5: Recognize revenue when (or as) each performance obligation is satisfied through a transfer o (pg. 2.7-43)
APPENDIX 7A Apply the revenue recognition process to long-term contracts expected to be profitable (pg. 2.7-43)
Demo 7-10A Long-Term Contract: Revenue Recognized Over Time—Cost-to-Cost Basis (pg. 2.7-44)
Demo 7-10B Long-Term Contract: Revenue Recognized at a Point in Time (pg. 2.7-46)
Review 7-10 Long-Term Profitable Construction Project (pg. 2.7-47)
APPENDIX 7B Apply the revenue recognition process to long-term contracts expected to be unprofitabl (pg. 2.7-48)
Demo 7-11A Overall Loss on an Unprofitable Contract (pg. 2.7-48)
Demo 7-11B Current Period Loss on Overall Profitable Contract (pg. 2.7-50)
Review 7-11 Unprofitable Construction Project (pg. 2.7-51)
Questions (pg. 2.7-51)
Brief Exercises (pg. 2.7-52)
Exercises (pg. 2.7-56)
Problems (pg. 2.7-65)
Accounting Decisions and Judgments (pg. 2.7-67)
Appendix-Questions (pg. 2.7-70)
Appendix-Brief Exercises (pg. 2.7-70)
Appendix-Exercises (pg. 2.7-70)
Appendix-Problems (pg. 2.7-72)
Answers to Review Exercise (pg. 2.7-74)
Shelby Collins

Shelby Collins

Shelby Collins currently works as a consultant assisting companies with adoption of the new FASB revenue and lease accounting standards. Prior to this role, she taught the Masters-level accounting and auditing research course at the University at Buffalo School of Management from 2011 through 2016.

Shelby’s entire career has focused specifically on performing and communicating technical accounting research, in a diversity of settings. Immediately after receiving her Bachelors’ and Masters’ degrees in Accountancy from the University of Georgia, Shelby went on to serve as a postgraduate technical assistant at the Financial Accounting Standards Board (FASB). From there, Shelby went on to work in KPMG’s Accounting Advisory Services group, then in the Accounting Policy and Research group at Exelon Corporation in Chicago. In these roles, Shelby focused on the application of technical accounting guidance to complex and judgmental transactions.

While at the University at Buffalo, finding no textbook on the market that offered a hands-on, active learning approach to accounting research, she chose to create her own course materials including handouts, lecture slides, and case studies. Many of these materials have been incorporated into this book and its supplements.

Few professionals have the opportunity to hit the ground running with a career in research; accountants often get their first shot at higher-level research projects after several years on the job. Shelby's career is unique in that she started researching before she even had the depth of knowledge afforded by several years of experience. She quickly achieved that depth of knowledge through her work as a researcher. She therefore understands how to convey complex accounting concepts alongside the basic skills necessary for success in research, in a language that beginning researchers can understand. Her enthusiasm for teaching will serve as an asset to students utilizing this book.

Michelle L. Hanlon

Michelle L. Hanlon

Michelle L. Hanlon is the Howard W. Johnson Professor at the MIT Sloan School of Management. She earned her doctorate at the University of Washington.

Prior to joining MIT, she was a faculty member at the University of Michigan. Professor Hanlon has taught financial accounting to undergraduates, MBA students, executive MBA students, and Masters of Finance students. Professor Hanlon also teaches Taxes and Business Strategy to MBA students. She is the winner of the 2013 Jamieson Prize for Excellence in Teaching at MIT Sloan.

Professor Hanlon’s research focuses primarily on the intersection of taxation and financial accounting. Her recent work examines the capital market effects of the accounting for income tax, the reputational effects of corporate tax avoidance, and the economic consequences of U.S. international tax policies for multinational corporations. She has published research studies in the Journal of Accounting and Economics, the Journal of Accounting Research, The Accounting Review, the Review of Accounting Studies, the Journal of Finance, the Journal of Financial Economics, the Journal of Public Economics, and others. She has won several awards for her research and has presented her work at numerous universities and conferences. Professor Hanlon has served on several editorial boards and currently serves as an editor at the Journal of Accounting and Economics. 

Professor Hanlon has testified in front of the U.S. Senate Committee on Finance and the U.S. House of Representatives Committee on Ways and Means about the interaction of financial accounting and tax policy. She served as a U.S. delegate to the American-Swiss Young Leaders Conference in 2010 and worked as an Academic Fellow at the U.S. House Ways and Means Committee in 2015.

Skills for Accounting Research, 4e - FASB Codification & eIFRS (Collins, Salzman)
Last Updated: Feb 28 2020

Corrections to identified errors in text

Intermediate Accounting, 2e (Hanlon, Hodder, Nelson, Roulstone, Dragoo)
Errata - Volume 1
Last Updated: Feb 4 2022

Identified errors in Volume 1 of printed text, corrected.

Errata - Volume 2
Last Updated: Feb 15 2022

Identified errors in Volume 2 of printed text, corrected.

Appendix B
Last Updated: Jul 1 2020

Appendix B - IFRS

Appendix C
Last Updated: Jun 24 2020

Appendix C - Data Analytics

Data Analytics Files
Last Updated: Nov 5 2020
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