An overview of the regulatory landscape.
While the CPA program has its own materials, candidates sitting for the Financial Reporting segment often use Deegan as a reference text because it explains why complex standards (like AASB 116 or AASB 112) exist. financial accounting 9th edition craig deegan
The text distinguishes between current and non-current assets. It tackles the complexities of inventory valuation (FIFO, weighted average methods) and the challenges of depreciation, impairment, and revaluation of Property, Plant, and Equipment (PPE). Deegan critically evaluates the shift towards "fair value" accounting, discussing the reliability vs. relevance trade-off that accountants face when valuing assets. An overview of the regulatory landscape