This text provides a comprehensive introduction to financial accounting. It is aimed at students
who are not majoring in accounting as well as those who are. Those studying introductory-level
financial accounting as part of their course in business, economics, hospitality management,
tourism, engineering, or some other area, should find that the text provides complete coverage
of the material at the level required. Students who are majoring in accounting should find the
text a useful introduction to the main principles, which can serve as a foundation for further study.
The main focus of the text is on the ways in which financial statements and financial information can improve the quality of decision making. To ensure that readers understand the practical implications of the subject, there are, throughout the text, numerous illustrative extracts using commentary from company reports, survey data and other sources. Although some technical issues are dealt with in the text, the main emphasis throughout is on basic principles and underlying concepts.
In this ninth edition, we have taken the opportunity to make improvements, including those
suggested by students and lecturers who used the previous edition. We have rewritten some
material to make it more understandable to readers. We have updated and expanded the
number of examples from real life. We have also incorporated developments to International
Financial Reporting Standards, including the recently-published version of the Conceptual
Framework for Financial Reporting. Recent developments in the area of corporate governance are discussed and explained. Finally, the discussion of the role of the auditor has been expanded.