1. CHAPTER 4
SELECTED FINANCIAL REPORTING AND DISCLOSURE ISSUES IN THE GLOBAL CONTEXT

2. LEARNING OBJECTIVES:
1. Identify the effect of inflation on financial reporting and discuss the two main inflation-adjusted accounting models

3. LEARNING OBJECTIVES:
2. Examine the issues related to accounting for goodwill and intangible assets and discuss the main accounting approaches related to them

4. LEARNING OBJECTIVES:
3. Highlight the costs and benefits of geographic segmental disclosure and review the new FASB and IASC standards on segmental reporting

5. LEARNING OBJECTIVES:
4. Discuss the growing demand for social reporting including employee and environmental disclosures

6. CHAPTER OUTLINE I. Accounting for Changing Prices
(1) Inflation-Adjusted Accounting Models
(2) Current Cost Adjusted (CCA) Models

7. I. Accounting for Changing Prices
(3) Evaluating the CCA Model
II. Accounting for Goodwill and Intangible Assets
(1) Goodwill

8. II. Accounting for Goodwill and Intangible Assets
(2) Brands, Patents and Trademarks
III. Geographic Segment Reporting
(1) Current Developments in Geographic Segment Reporting

9. IV. Environmental and Social Disclosures
(1) Environmental Disclosures
(2) Employee Disclosures
(3) Value Added Statement