Financial accounting / Conrado T. Valix, Jose, F. Peralta, Christian Aris M. Valix.

This volume is patterned after the undergraduate course syllabus for Financial Accounting Part II as promulgated by the Commission on Higher Education through the recommendation of the Board of Accountancy. The book is designed to cover the financial accounting standards relative to the recognition, measurement, statement presentation and disclosure requirements of liabilities and shareholders' equity. Leases, debt-restructure, employee benefits, deferred income tax, share-based compensation, book value per share and earnings per share are extensively discussed in this volume. Moreover, this book is revised to conform with the amended Philippine standards, PIC Interpretations, amended International Accounting Standards, current International Financial Reporting Standards or IFRS and IFRIC Interpretations. The Philippine standards are known as Philippine Accounting Standards or PAS and Philippine Financial Reporting Standards or PFRS. These standards are numbered the same as their counterpart in International Accounting Standards and International Financial Reporting Standards. However, in financial accounting issues where there are no Philippine standards and international accounting standards, the pronouncements of the AICPA Financial Accounting Standards Board are cited and followed. -- From the Preface of the Book.