Product Description

This new edition of a popular text provides a first course in financial accounting for students. The book is based on the ASB's conceptual framework, The Statement of Principles, which ensures that practical learning is underpinned by solid theoretical understanding. The book is designed to be accessible and uses a running case study based on the user/preparer debate.
The second edition has been brought up to date with changes in accounting regulations and a new chapter added on the preparation of final accounts. Many more questions have been included in an expanded Lecturer's Guide.
The book outlines the regulatory process which controls the quality and quantity of information in financial statements and looks at some of the limitations of traditional accounting practices. It concentrates primarily on the single entity but a chapter on group accounts is included to provide a basic appreciation that will allow students an appreciation of published accounts. The conceptual framework underpinning focuses on the needs of users of financial information and concentrates on the balance sheet (i.e. defining and reporting assets, liabilities and owners' equity).
The book has been designed to be the appropriate level and length for a new-style modular first year programme in financial accounting.

Product Details

• Amazon Sales Rank: #1146401 in Books
• Published on: 1999-07-01
• Original language: English
• Binding: Paperback
• 512 pages

From the Back Cover

Financial Accounting 3e: An Introduction:

Weetman

The third edition of this revised and fully updated text continues to provide students with a clear and well-structured introduction to financial accounting within a sound conceptual framework. It covers the financial accounting section of the author's Financial and Management Accounting, third edition, for those students not requiring management accounting, which forms Volume II.

The new edition retains all of the classic features that have contributed to the book’s success: clarity of expression, the focus on the accounting equation, student activities and real-life commentaries running through each chapter, and the inclusion of the Safe and Sure annual report as an example of a listed company. The book outlines the regulatory process which controls the quality and quantity of information in financial statements and looks at some of the limitations of traditional accounting practices. There is a strong emphasis on the Statement of Principles issued by the Accounting Standards Board and on the 'why' rather than simply the 'what'. The underpinning conceptual framework focuses on the needs of users of financial information.

New to the third edition:

An international overview runs throughout the book to recognise the process of convergence in accounting standards.

A new section on financial statement analysis and company valuation has been added.

There is a new section on analysis of corporate performance.

New techniques of ratio analysis are covered.

The approach to teaching and learning focuses on subject-specific knowledge outcomes and generic skills outcomes, with end-of-chapter self-evaluation.

Questions are graded to test student understanding of chapter content, as well as skills in straightforward application of knowledge, and skills of problem solving and evaluation.

Financial Accounting: an Introduction is aimed at First-level undergraduates on Business Studies degrees taking introductory Financial Accounting classes; First-level specialist accounting undergraduate students; Introductory core accounting for MBA and postgraduate specialist Masters students (e.g. Finance, Actuarial Studies), focusing on analysis through the accounting equation and a questioning approach to problem solving; and professional courses where accounting is introduced for the first time.

The book is accompanied by a comprehensive support package for lecturers, arranged on a chapter-by-chapter basis and comprising the following: student lecture notes on a ‘fill the gaps’ basis; matching overhead projector masters; graded questions to supplement those of chapters, including multiple-choice questions; solutions to questions in the book; and the ‘Craigielaw’ annual report for analysis.

The author

Pauline Weetman BA, BSc(Econ), PhD, CA, is Professor of Accounting at the University of Strathclyde, and has extensive experience of teaching at undergraduate and postgraduate level, with previous chairs held at Stirling and Heriot-Watt Universities. She convenes the Examining Board of The Institute of Chartered Accountants of Scotland and was formerly Director of Research at ICAS. Her research interests centre on international accounting and communication in financial reporting, with publications in leading journals. She is joint author of International Financial Accounting: A Comparative Approach.

About the Author
Pauline Weetman, Professor of Accounting at Heriot-Watt University