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Accounting Theory Harry I. Wolk

Accounting Theory By Harry I. Wolk

Accounting Theory by Harry I. Wolk


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Summary

Focusing on accounting theory, this book provides 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 applied understanding of how United States accounting standards were derived and where we might be headed in the future.

Accounting Theory Summary

Accounting Theory: Conceptual Issues in a Political and Economic Environment by Harry I. Wolk

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 applied 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.

About Harry I. Wolk

Harry I. Wolk (1930-2009) held a BS in economics from the Wharton School of the University of Pennsylvania and MBA and PhD degrees from Michigan State University. He was the author or co-author of approximately 25 journal articles, including publications in the Accounting Review, Journal of Accounting Research, Accounting Horizons, and the International Journal of Accounting. He was the lead author of seven editions of Accounting Theory: Conceptual Issues in a Political and Economic Environment. He previously taught at the University of Wisconsin-Milwaukee and was the Aliber Distinguished Professor of Accounting at Drake University, where he taught for 32 years. He also visited Creighton University, where he was John P. Begley Professor of Accounting. He was a member of the American Accounting Association and Financial Executives International, where he served as president of the Iowa Chapter. Outside of accounting, his interests were in following national and world affairs closely, listening to classical music, and following the fortunes of the Boston Red Sox, Boston Celtics, and the New England Patriots. James L. Dodd, Professor Emeritus of Accounting at Drake University, holds a BS in accounting from California State University-Fresno, an MBA from the University of South Alabama, and a PhD from the University of Georgia, with a major in accounting and a minor in information systems. Before entering academe, Dr. Dodd worked for 15 years in the shipbuilding, aircraft-engine, and diesel-engine filtration industries. His assignments at Litton, Teledyne, and Cummins included experience in industrial engineering, capital budgeting, profit planning, product pricing, cost accounting, long-range systems planning, and accounting controllerships at plant and corporate levels. He is a Fulbright Scholar alumnus, participating in academic exchanges with Norway (1999-2000) and Iceland (2007). His teaching and research include areas in accounting theory, fraud examination, and international accounting. On a personal level, he enjoys working with his hands, listening to bluegrass music, watching SEC sports, and volunteering as an AARP-IRS tax aide. He is a Southerner, born in Birmingham, Alabama, married to his college sweetheart for 48+ years; he has one daughter and two grandchildren. John J. Rozycki, Associate Professor of Finance at Drake University, holds a BS in biology from King's College, an MBA from the University of Scranton, and a PhD from Penn State University, with a major in finance. Before pursuing his doctoral education, Dr. Rozycki worked in the health care planning and telecommunications industries. He teaches corporate finance and equity valuation. His professional interests are in equity and business valuation, corporate capital allocation decisions, financial planning, financing decisions, and financial statement analysis. He is a member of the CFA Institute, the CFA Society of Iowa, the Financial Management Association, and the Midwest Finance Association. He is a CFA charterholder. He was born in Wilkes-Barre, Pennsylvania, and is married with two sons. He is active in his church and enjoys the outdoors.

Table of Contents

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

Additional information

NPB9781483375021
9781483375021
1483375021
Accounting Theory: Conceptual Issues in a Political and Economic Environment by Harry I. Wolk
New
Hardback
SAGE Publications Inc
20160824
672
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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