Financial Accounting for Decision Makers

515
consolidated financial statements 360
consolidating shares 129, 
515
constant purchasing power (CPP) 
see
current 
purchasing power
construction contracts 83–4
constructive obligations 239, 240, 241
contingent assets 239, 245–6, 
515
contingent liabilities 239, 242–4, 
516
contracts, long-term 83–4
control
accounting for less than controlling interests 
391–4
boards of directors exercising 450, 480
directors’ behaviour 444–5
goods passing to buyers 81–2
groups 349, 358
internal 467
conventions of accounting 
see
accounting: 
conventions
copyrights 58
corporate culture 449, 
516
corporate governance 126, 165, 174, 443–5, 
516
key elements 488–9
risk management 464
shareholder activism 481–9
UK Code 446–9, 450, 
523
assessing board performance 479–80
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INDEX 
583
audit committees 465–9
chief executive officers becoming chairmen 453
combining chair and chief executive officer 
roles 452
directors’ remuneration 484
institutional shareholders 484
non-executive directors 455, 457
performance evaluation 451
remuneration policies 471–2
separating chair and chief executive officer 
roles 451
service contracts 472
shareholder activism 484, 486
tenure of directors 472
corporation tax 122, 147, 
516
cost–benefit analysis of accounting information 
9–11
cost of goods sold 
see
cost of sales
cost of sales 75, 77, 78–9, 499–500, 503, 506, 507, 
516
costs
of assets 89–90
audit committees 469
borrowing, capitalisation 256–8
finance leasing 251, 252
replacement 54
of standards 168
see also
historic cost
CPP 
see
current purchasing power
Cranswick plc 281
creative accounting 27, 189–96, 242, 336, 
516
checking for 194–5
and economic growth 195–6
credit
sales 47, 82, 104
see also
debts; trade receivables
creditors 119
trade 
see
trade payables
credits, bookkeeping 496–509,