Product Description

Financial Accounting is the ideal introduction to this topical and dynamic subject. The authors successfully combine a conceptual approach with an accessible, interactive style, by adopting a questioning attitude to the subject.  The authors ask why accounting practices exist and not simply how they work, without lingering on the technicalities. The 4th edition has been fully updated in line with the transition to International Accounting Standards (IASs) and International Financial Reporting Standards (IFRSs).

Financial Accounting is ideally suited for any students taking an introductory financial accounting course.

Product Details

• Amazon Sales Rank: #240673 in Books
• Published on: 2005-11-10
• Original language: English
• Binding: Paperback
• 350 pages

From the Back Cover

Financial Accounting is the ideal introduction to this topical and dynamic subject. Successfully combining a conceptual approach with an accessible, interactive style, the text tackles the very latest international developments. Adopting a unique questioning attitude to the subject, the authors ask why accounting practices exist and not simply how they work, without lingering on the technicalities. The fourth edition has been fully updated in line with the transition to International Accounting Standards (IASs) and International Financial Reporting Standards (IFRSs).

Key features for this new edition include:

• all material now based on International Accounting Standards;
• new material on accounts for non-profit organisations;
• expanded and revised IT chapter;  
• clear coverage of the convergence programme between the US and the IASB, as well as the roles of Enron and WorldCom;  
• more company case studies and 'real life' examples;
• a greater emphasis on the relevance of the international regulatory environment.

A Companion Website supports this book, providing a full resource pack for both lecturers and students, including further questions with answers, a list of suggested web links and an expanded bank of self-marking multiple-choice questions for students.

Financial Accounting is ideally suited for students taking accounting courses at both undergraduate and postgraduate level. This book will also be a suitable introduction to the subject for those who intend to continue studies in professional accounting.

Anne Britton is Associate Dean and Head of School of Accounting and Financial Services at Leeds Metropolitan University, and Chris Waterston is a Principal Lecturer in the same school. They are both experienced teachers and writers.

Customer Reviews

Very simple to understand
I bought this book as it was the recommended text for the accountancy module I was doing. The book is very simple to understand, everything is clearly set out (for example, the layout of the balance sheet and profit and loss), with examples and questions so you can practice.

The only fault I can think of is it is boring to read, as in the appearance of the text, this doesn't do you any favours when you're like me and find accountancy boring.

I would recommend this book for people who have never done accountancy before and want to learn the basics.

don't buy this book!
This book easily qualifies as my top 5 worst books read ranking! Inconsistency, errors, ambiguity... you name it! The authors should reassess their writing skills and ability to teach pass down knowledge to others.

Too many faults
I liked this book.
The chapters are easy to digest and added to my course I could really pin-point my needs and take exactly what I need from the book.

The problem is the errors and mistakes, and there is a lot.
The worst problem is most of the mistakes are in the answer section of the book.

So, done your first balance sheet? feeling confident? Double check the requirements; Bank Overdraft: £15,000. Check. Let's see how you did.
Bank Overdraft £57,000 in the answer?!?! what?!?! how?!?! Did I miss something? Am I stupid? what huge error did I make and why is there no trace of it?
Well, after 15 minutes I realised, they mistook Bank Overdraft and Creditors and somehow swapped them around.

You really don't need those kinds of mistakes in the answers, they're not reassuring at all.
It wasn't just that chapter either. FIFO has errors. Unfortunately, that's as far as I've come.
Be sure to go through the answers with someone. The book is unreliable.