To preview chapters 1 and 2 of Byrd and Chen's Canadian Advanced Accounting: International Convergence (Fifth) Edition, click on each of the links below.

International Convergence

From now until 2011, there will be a gradual convergence of international accounting standards into Canadian GAAP. Canadian Advanced Accounting is the only advanced text that fully reflects the CICA's plan for implementing this international convergence.

In presenting the material, we have placed extra emphasis on the concepts that underlie the procedures required by the current CICA Handbook. This will help your students deal with the changes in procedures that we know will be coming in the near future.

Each chapter of the text provides a discussion of the changes that are expected to occur during the convergence period. We describe the procedures that we expect to be required when the international financial reporting standards (IFRSs) are converged into the relevant Canadian GAAP. This includes coverage of both current IFRSs, as well as changes that we anticipate as a result of revisions that are currently underway.

Relevant, comparative examples will be provided to demonstrate the application of the current Canadian standards along with the application of the expected international standard. This is of particular importance in the material on consolidations where the application of the expected international standards will significantly alter the preparation of consolidated financial statements in Canada.

In addition to the material in the text, the accompanying CD-ROM provides comprehensive coverage of the CICA's international convergence plan. Each chapter of the Guide To Canadian Financial Reporting on the CD-ROM provides a discussion of how international convergence will be implemented for the CICA Handbook section that is under consideration. This includes references to the related international financial reporting standard, as well as the proposed timetable for converging that IFRS into Canadian GAAP.

Coverage

• Provides coverage of all areas that are a standard part of advanced financial accounting courses. The coverage is current with CICA Handbook requirements to December 31, 2006, and covers in detail the CICA's Implementation Plan for international convergence.
• Contains detailed coverage of available-for-sale and held-for-trading investments introduced in new CICA Handbook Section 3855. (See Sample Chapter 2)
• Contains the only textbook coverage of hedging that correctly reflects the requirements of new CICA Handbook Section 3865.
• The coverage of investments, business combinations, and consolidations is more comprehensive than any other text in the market. However, it is organized to provide considerable flexibility. The advanced consolidation subjects are in a separate chapter that is organized in a manner that allows instructors to select which topics they want to cover.

Features of the Textbook

• All subjects are presented in a manner that focuses on concepts and how these concepts are used in the required procedures. Students are required to understand the procedures that are being applied instead of mindlessly filling in the cells of worksheets.
• The approach to consolidations uses conceptually based direct calculations-an approach that encourages better student understanding than the use of the more mechanical worksheet approach.
• Includes Exercises that deal with specific and clearly defined issues. These Exercises are integrated into the text and solutions are provided in the Study Guide and in PDF format on the accompanying CD-ROM.
• Includes Self Study Problems that extend the student's understanding of more complex issues. Solutions are provided in the Study Guide and in PDF format on the accompanying CD-ROM.
• A progressive walk-through Self Study Problem on consolidations in Chapters 4, 5, and 6 provides a fill-in solution format to assist students in understanding the required calculations as they become more complex.
• Each chapter contains a complete selection of Assignment Problems. Solutions to these problems are available in a separate Solutions Manual provided only to instructors.
• The text is supported by a comprehensive Test Items File. This resource contains multiple-choice questions, essay questions, true/false questions, exam Exercises, as well as problems that reflect the content of other problem materials that are included in the text.

Separate Study Guide

As with our market-leading textbook Byrd & Chen's Canadian Tax Principles, this new edition of our advanced accounting text will have a separate paper Study Guide. It is included with the text at no extra charge and contains:

• Solutions to the Exercises.
• Solutions to the Self Study Problems.
• Instructions on how to work through each chapter.
• A list of "learning objectives" for each chapter.

Study Guide Chapter 2 (PDF)

Free Research Library on CD-ROM

The CD-ROM that accompanies this text contains an electronic copy of Byrd & Chen's Guide To Canadian Financial Reporting, as well as a copy of the 2006 edition of the CICA's Financial Reporting In Canada. These resources are presented in Folio Views, a widely used software program that allows for sophisticated key word searches within the two documents. The retail value of these two references is over $200.

The Guide has a chapter for every accounting section of the CICA Handbook, with each chapter providing detailed coverage of the requirements of that section. In paper format, it contains nearly 2,000 pages of valuable reference material. This will allow you to include coverage of any financial reporting subject in your advanced financial accounting course. It will allow students to review materials where their previous coverage may not have been current (e.g., comprehensive income). It will also allow you to assign research projects that require your students to examine specific financial reporting issues in more detail.

Chapter Coverage

Chapter 1     Introduction
Chapter 2     Investments In Equity Securities
Chapter 3     Business Combinations
Chapter 4     Consolidated Balance Sheet At Acquisition
Chapter 5     Consolidation Subsequent To Acquisition (No Unrealized Intercompany Profits)
Chapter 6     Consolidation Subsequent To Acquisition (Including Unrealized Intercompany Profits)
Chapter 7     Advanced Topics In Consolidations
Chapter 8     Interests In Joint Ventures
Chapter 9     Translation Of Foreign Currency Transactions (Including Hedge Accounting)
Chapter 10   Translation Of Foreign Currency Financial Statements
Chapter 11   Accounting For Not-For-Profit Organizations
Chapter 12   Accounting For Partnerships

CD Content

Guide To Canadian Financial Reporting (in Folio Views)
Financial Reporting In Canada (in Folio Views)
Study Guide (in PDF)