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Dual Reporting for Equity and Other Comprehensive Income under IFRS and U.S. GAAP

by Francesco Bellandi

May 2012

Beginner to intermediate

458 pages

18h 30m

English

Wiley

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1.1 NATURE OF ACCOUNTING LITERATURE AND PERTINENT PRONOUNCEMENTS1.2 PERSPECTIVES AND MAJOR IMPLICATIONS OF THE CONCEPT OF EQUITY1.3 THE CONCEPT OF OTHER COMPREHENSIVE INCOME1.4 THE FINANCIAL STATEMENT PRESENTATION PROJECT1.5 MAIN INTERRELATIONSHIPS WITH OTHER PROJECTS1.6 SIGNIFICANCE OF EQUITY
2.1 TERMINOLOGY AND DEFINITIONS OF TERMS2.2 BASIC CHARACTERISTICS OF EQUITY2.3 MAJOR IMPLICATIONS FOR COMPANIES
3.1 TERMINOLOGY AND DEFINITIONS OF TERMS3.2 RECONCILIATION3.3 TYPES OF RESERVES3.4 TRACKING OF EQUITY3.5 FUNCTION OF RESERVES3.6 IFRS IMPLEMENTATION IN SOME JURISDICTIONS3.7 CONSERVATISM, TRUE-AND-FAIR VIEW, AND INVESTORS' PROTECTION3.8 PERSPECTIVES AND ALTERNATIVE MODELS

4.1 TERMINOLOGY AND DEFINITION OF TERMS4.2 SINGLE- VERSUS MULTI-STEP EQUITY SECTION4.3 NONCONTROLLING INTEREST4.4 OTHER CLASSIFICATIONS IN TEMPORARY EQUITY4.5 LAYOUT OF THE EQUITY SECTION OF THE STATEMENT OF FINANCIAL POSITION4.6 CAPITAL DISCLOSURES4.7 EQUITY OF PARTNERSHIPS AND SIMILAR ENTITIES4.8 NET ASSETS OF ENTITIES WITH NO CONTRIBUTED EQUITY OR WITH OWNERS' INTEREST THAT HAS CHARACTERISTICS OF EQUITY AND LIABILITIES4.9 DISCOUNT ON ISSUANCE4.10 INCREASING RATE PREFERRED STOCK4.11 EQUITY ISSUANCE COSTS4.12 SUBSCRIPTIONS RECEIVABLE4.13 SHARES ISSUED IN EXCHANGE FOR A NOTE RECEIVABLE4.14 TREASURY STOCK
5.1 TERMINOLOGY5.2 ADDITIONAL PAID-IN CAPITAL VERSUS OTHER PAID-IN CAPITAL ACCOUNTS5.3 PRESENTATION OF ADDITIONAL PAID-IN CAPITAL5.4 THE CAPITAL SURPLUS MODEL
6.1 TERMINOLOGY AND DEFINITIONS OF TERMS6.2 BASIC PRINCIPLE OF RETAINED EARNINGS6.3 CATEGORIZATION OF ITEMS THAT MAY AFFECT RETAINED EARNINGS6.4 ITEMS THAT MAY DIRECTLY AFFECT THE BEGINNING BALANCE OF RETAINED EARNINGS6.5 ITEMS THAT MAY AFFECT THE ENDING BALANCE OF RETAINED EARNINGS6.6 DIRECT TRANSFER TO/FROM RETAINED EARNINGS WITHOUT PASSING THROUGH PROFIT OR LOSS6.7 INCOME TAX RELATING TO TRANSACTIONS THAT DIRECTLY AFFECT RETAINED EARNINGS6.8 PRESENTATION AND DISCLOSURE OF RETAINED EARNINGS6.9 DIVIDENDS6.10 TOWARDS A THEORY OF RETAINED EARNINGS
7.1 TERMINOLOGY7.2 DEFINITIONS OF TERMS7.3 THE ALL-INCLUSIVE OR CLEAN-SURPLUS CONCEPT OF INCOME7.4 PURPOSE OF REPORTING INCOME AND ITS COMPONENTS7.5 LINKAGE TO THEORIES OF PERFORMANCE7.6 LINKAGE WITH CAPITAL MAINTENANCE CONCEPTS7.7 THE OTHER COMPREHENSIVE INCOME DILEMMA7.8 RECYCLING7.9 REPORTING COMPREHENSIVE INCOME AND OTHER COMPREHENSIVE INCOME7.10 FOREIGN CURRENCY TRANSLATION ADJUSTMENT7.11 CERTAIN LONG-TERM ITEMS7.12 HIGHLY INFLATIONARY ECONOMIES7.13 HEDGES OF A NET INVESTMENT IN FOREIGN OPERATIONS7.14 AVAILABLE-FOR-SALE INVESTMENTS7.15 CASH FLOW HEDGES7.16 REVALUATION MODEL7.17 CONSOLIDATION, DECONSOLIDATION, AND CHANGE IN INTEREST IN AN INVESTMENT7.18 PENSION ACCOUNTING7.19 RECENT DEVELOPMENTS FOR FINANCIAL INSTRUMENTS7.20 SHADOW ACCOUNTING7.21 TOWARDS A COMPREHENSIVE MODEL OF EQUITY AND OTHER COMPREHENSIVE INCOME
8.1 INTRAPERIOD TAX ALLOCATION TO EQUITY8.2 INCOME TAX RECOGNIZED IN EQUITY8.2.17 Income Tax on Dividends
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Content preview from Dual Reporting for Equity and Other Comprehensive Income under IFRS and U.S. GAAP

ABOUT THE AUTHOR

Francesco Bellandi holds a Degree in Economics (summa cum laude), LUISS University; M.B.A., SDA Bocconi School of Business, Bocconi University; Diploma in International Financial Reporting from the ACCA (The Association Of Chartered Certified Accountants, UK); and the Diploma in Private Equity from the A.I.F.I. (Italy's private equity association).

Francesco Bellandi, U.S. CPA (Certified Public Accountant) and Dottore Commercialista (Italian Chartered Accountant), is a practitioner in U.S. GAAP/IFRSs dual reporting. He is a member of the AICPA, the NYSSCPA (New York State Society of Certified Public Accountants), and the NYSSCPA's International Accounting & Auditing Committee.

He has served as a Board Director and Chief Financial Officer in Cobalt Waterline Group (2007–2008); Director Finance & Administration in Alitalia Maintenance Systems (Alitalia – Lufthansa Technik) (2003–2005); Chief Financial Officer in Alitalia North America & Mexico, New York (2001–2003); Director Business Planning & Finance Performance SEMEA Southern Europe, Middle East, and Africa in Société Internationale de Télécommunications Aéronautiques (1999–2001); Manager Finance & Administration/Shared Services, Reengineering & Restructuring in Ernst & Young (1997–1998); Financial Controller and Logistics Manager in Ericsson (1993–1997); Financial Analyst in IRI (Istituto per la Ricostruzione Industriale) (1988–1992).

Francesco Bellandi also holds executive seminars for CFOs on U.S. GAAP/IFRSs ...

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