SPICELAND | SEPE | NELSON | THOMAS xix Chapter 20 ACCOUNTING CHANGES AND ERROR CORRECTIONS • Added an Abercrombie & Fitch illustration of disclosure of a change in inventory methods. • Added Barnes & Noble illustration of a correction of an error. Chapter 21 STATEMENT OF CASH FLOWS REVISITED • Enhanced the discussion of accounting for gains and losses on cash equivalent transactions. • Added a CVS Caremark Corp illustration of presenting cash fl ows from operating activities by the direct method. • Added a Toys “R” Us illustration of presenting cash fl ows from operating activities by the indirect method. • Added a Trueblood Accounting Case involving presentation issues related to the statement of cash fl ows. • Added a PetSmart Real World Case involving presentation issues related to a disparity between net income and cash fl ows. • Revised a Research Case involving researching the way cash fl ows are reported. • Added a PetSmart Analysis Case for using free cash fl ows to analyze cash fl ow information. • Revised an IFRS Case involving British Telecommunications. Appendix A Derivatives • Added a discussion of the immense size of the derivatives market and the danger that size poses for the global fi nancial system. • Added an Additional Consideration box on the new Accounting Standards Update on private company accounting for derivatives and hedging. • Revised a Real World Case related to the Chicago Mercantile Exchange. • Revised a Johnson & Johnson Real World Case on hedging transactions.
Spiceland_Inter_Accounting8e_Changes
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