The text adopts a questioning attitude to the subject, asking why accounting practices exist and how they work, without lingering on the technicalities. For those who favour the ‘why’ over ‘how to’ approach, Financial Accounting is the ideal introductory core text for first-year financial accounting students.
The text is deliberately and positively accessible for first-time students, with frequent exercises in all chapters, and answers to these supplied straight after the questions. These do not so much test understanding of the subject as develop understanding through self-testing and repetition.
Table of Contents
Chapter 1 What is accounting?
Chapter 2 The statement of financial position
Chapter 3 The statement of comprehensive income
Chapter 4 Concepts and characteristics
Chapter 5 The double entry system
Chapter 6 Adjustments, including entries in ledger accounts
Chapter 7 Preparation of statement of comprehensive income and statement of financial position from trial balance and adjustments
Chapter 8 Accounts of limited companies and other organisations
Chapter 9 Group accounting
Chapter 10 Statement of cash flows
Chapter 11 Regulatory framework, corporate social responsibility and corporate governance
Chapter 12 Interpretation, including ratio analysis and consideration of additional information required
Chapter 13 Valuation and performation measurement
Chapter 14 Control of accounting systems
Chapter 15 Information technology and accounting
Chapter 16 The finale