E1-32
Financial Accounting (11th Global Ed) FIN A N C IA L A C C O U N T IN G IN T ER N AT IO N A L FIN A N C IA L R EPO RT IN G STA N D A R D S H arrison Jr. H orngren T hom as T ietz Suw ardy ELEV EN T H ED IT IO N For these Global Editions, the editorial team at Pearson has collaborated with educators across the world to address a wide range of subjects and requirements, equipping students with the best possible learning tools. This Global Edition preserves the cutting-edge approach and pedagogy of the original, but also features alterations, customization, and adaptation from the North American version. FINANCIAL ACCOUNTING International Financial Reporting Standards ELEVENTH EDITION Walter T. Harrison Jr. Charles T. Horngren C. William (Bill) Thomas Wendy M. Tietz Themin Suwardy G LO B A L ED IT IO N This is a special edition of an established title widely used by colleges and universities throughout the world. Pearson published this exclusive edition for the benefit of students outside the United States and Canada. If you purchased this book within the United States or Canada, you should be aware that it has been imported without the approval of the Publisher or Author. Pearson Global Edition GLOBAL EDITION GLOBAL EDITION Harrison_11_1292211148_Final.indd 1 31/10/17 5:26 PM www.ebook3000.com Accounting Financial ELEVENTH EDITION GLOBAL EDITION International Financial Reporting Standards A01_HARR1145_11_GE_FM.indd 1 20/10/17 5:20 PM www.ebook3000.com http://www.ebook3000.org Walter T. Harrison Jr. Baylor University Charles T. Horngren Stanford University C. William (Bill) Thomas Baylor University Wendy M. Tietz Kent State University Themin Suwardy Singapore Management University Accounting Financial ELEVENTH EDITION GLOBAL EDITION International Financial Reporting Standards Harlow, England • London • New York • Boston • San Francisco • Toronto • Sydney • Dubai • Singapore • Hong Kong Tokyo • Seoul • Taipei • New Delhi • Cape Town • Sao Paulo • Mexico City • Madrid • Amsterdam • Munich • Paris • Milan A01_HARR1145_11_GE_FM.indd 3 20/10/17 5:20 PM Vice President, Business Publishing: Donna Battista Editor-in-Chief: Adrienne D’Ambrosio Senior Acquisitions Editor: Lacey Vitetta Editorial Assistant: Christine Donovan Managing Editor, Global Edition: Yajnaseni Das Associate Acquisitions Editor, Global Edition: Ananya Srivastava Associate Project Editor, Global Edition: Paromita Banerjee Project Editor, Global Edition: Punita Kaur Mann Vice President, Product Marketing: Maggie Moylan Director of Marketing, Digital Services and Products: Jeanette Koskinas Field Marketing Manager: Natalie Wagner Product Marketing Assistant: Jessica Quazza Team Lead, Program Management: Ashley Santora Program Manager: Mary Kate Murray Team Lead, Project Management: Jeff Holcomb Content Producer, Global Edition: Nikhil Rakshit Content Producer, Global Edition: Purnima Narayanan Senior Manufacturing Controller, Global Edition: Angela Hawksbee Project Manager: Heather Pagano Operations Specialist: Carol Melville Creative Director: Blair Brown Art Director: Jonathan Boylan Vice President, Director of Digital Strategy and Assessment: Paul Gentile Manager of Learning Applications: Paul DeLuca Digital Editor: Sarah Peterson Director, Digital Studio: Sacha Laustsen Digital Studio Manager: Diane Lombardo Digital Studio Project Manager: Andra Skaalrud Digital Studio Project Manager: Robin Lazrus Digital Content Team Lead: Noel Lotz Digital Content Project Lead: Martha LaChance Manager, Media Production, Global Edition: Vikram Kumar Senior Media Editor, Global Edition: Gargi Banerjee Full-Service Project Management and Composition: Cenveo® Publisher Services Interior Designer: Cenveo® Publisher Services Cover Designer: Lumina Datamatics, Inc. Cover Art: antishock/Shutterstock Microsoft and/or its respective suppliers make no representations about the suitability of the information contained in the documents and related graphics published as part of the services for any purpose. All such documents and related graphics are provided “as is” without warranty of any kind. Microsoft and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this information, including all warranties and conditions of merchantability, whether express, implied or statutory, fitness for a particular purpose, title and non-infringement. In no event shall Microsoft and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use or performance of information available from the services. The documents and related graphics contained herein could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Microsoft and/or its respective suppliers may make improvements and/or changes in the product(s) and/or the program(s) described herein at any time. Partial screen shots may be viewed in full within the software version specified. Microsoft® and Windows® are registered trademarks of the Microsoft Corporation in the U.S.A. and other countries. This book is not sponsored or endorsed by or affiliated with the Microsoft Corporation. Acknowledgments of third-party content appear on the appropriate page within the text, or are as follows: Decision Guidelines and Ethical Issue icons: Micromaniac/Shutterstock. Global View and Cooking the Books icons: Pearson Education. Pearson Education Limited KAO Two KAO Park Harlow CM17 9NA United Kingdom and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsonglobaleditions.com © Pearson Education Limited 2018 The rights of Walter T. Harrison Jr., Charles T. Horngren, C. William (Bill) Thomas, Wendy M. Tietz, and Themin Suwardy, to be identified as the authors of this work, have been asserted by them in accordance with the Copyright, Designs and Patents Act 1988. Authorized adaptation from the United States edition, entitled Financial Accounting, 11th Edition, ISBN 978-0-13-412762-0 by Walter T. Harrison Jr., Charles T. Horngren, C. William (Bill) Thomas, and Wendy M. Tietz, published by Pearson Education © 2017. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written permission of the publisher or a license permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, Saffron House, 6–10 Kirby Street, London EC1N 8TS. All trademarks used herein are the property of their respective owners. The use of any trademark in this text does not vest in the author or publisher any trademark ownership rights in such trademarks, nor does the use of such trademarks imply any affiliation with or endorsement of this book by such owners. For information regarding permissions, request forms, and the appropriate contacts within the Pearson Education Global Rights and Permis- sions department, please visit www.pearsoned.com/permissions/. ISBN 10: 1-292-21114-8 ISBN 13: 978-1-292-21114-5 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library 10 9 8 7 6 5 4 3 2 1 Typeset in Helvetica Neue LT W 1 G by Cenveo® Publisher Services Printed and bound by Vivar in Malaysia A01_HARR1145_11_GE_FM.indd 4 20/10/17 5:20 PM www.ebook3000.com http://www.pearsonglobaleditions.com http://www.pearsoned.com/permissions/ http://www.ebook3000.org For my wife, Mary Ann. C. William (Bill) Thomas To my husband, Russ, who steadfastly supports me in every endeavor. Wendy M. Tietz A01_HARR1145_11_GE_FM.indd 5 20/10/17 5:20 PM www.ebook3000.com http://www.ebook3000.org Walter T. Harrison, Jr., is professor emeritus of accounting at the Hankamer School of Business, Baylor University. He received his BBA from Baylor University, his MS from Oklahoma State University, and his PhD from Michigan State University. Professor Harrison, recipient of numerous teaching awards from student groups as well as from university administrators, has also taught at Cleveland State Community College, Michigan State University, the University of Texas, and Stanford University. A member of the American Accounting Association and the American Institute of Certified Public Accountants, Professor Harrison has served as chairman of the Financial Accounting Standards Committee of the American Accounting Association, on the Teach- ing/Curriculum Development Award Committee, on the Program Advisory Committee for Account ing Educa tion and Teaching, and on the Notable Contributions to Accounting Literature Committee. Professor Harrison has lectured in several foreign countries and published articles in numerous journals, including Journal of Accounting Research, Journal of Accountancy, Journal of Accounting and Public Policy, Economic Consequences of Financial Accounting Standards, Accounting Horizons, Issues in Accounting Education, and Journal of Law and Commerce. Professor Harrison has received scholarships, fellowships, and research grants or awards from PricewaterhouseCoopers, Deloitte & Touche, the Ernst & Young Founda- tion, and the KPMG Foundation. Charles T. Horngren was the Edmund W. Littlefield Professor of Accounting, emeri- tus, at Stanford University. A graduate of Marquette University, he received his MBA from Harvard Univer sity and his PhD from the University of Chicago. He also received honorary doctorates from Marquette University and DePaul University. A certified public accountant, Horngren served on the Accounting Principles Board, the Financial Accounting Standards Board Advisory Council, and the Council of the American Institute of Certified Public Accountants and served as a trustee of the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Government Accounting Standards Board. Horngren is a member of the Accounting Hall of Fame. As a member of the American Accounting Association, Horngren was its president and its director of research. He received its first annual Outstanding Accounting Educator Award. The California Certified Public Ac- countants Foundation gave Horngren its Faculty Excellence Award and its Distinguished Professor Award. He was the first person to have received both awards. The American Insti- tute of Certified Public Accountants presented its first Outstanding Educator Award to Horn- gren. Horngren was named Accountant of the Year, in Education, by the national professional accounting fraternity, Beta Alpha Psi. Professor Horngren was also a member of the Institute of Management Accountants, from whom he received its Distinguished Service Award. He was a member of the institute’s Board of Regents, which administers the certified manage- ment accountant examinations. Horngren is an author of these other accounting books published by Pearson: Cost Accounting: A Managerial Emphasis, Fifteenth Edition, 2015 (with Srikant M. Datar and Madhav V. Rajan); Introduction to Financial Accounting, Eleventh Edition, 2014 (with Gary L. Sundem, John A. Elliott, and Donna