Financial Accounting (9^th Ed.)

Financial Accounting 9th Edition continues the strong reputation established by this leading Australian text as the most comprehensive book for students studying introductory accounting in undergraduate or postgraduate programs.

The full–colour design provides students with a reader–friendly text to enhance their understanding of concepts and make their study more enjoyable. The text builds on the thorough and reliable explanation of the accounting process through the Business knowledge chapter vignettes that apply the principles to practice.

Previous editions were renowned for the number of exercises and problems, and the new edition builds on this superior teaching feature. The end–of–chapter activities are designed to encourage student confidence through the development of skills in decision making, critical thinking, ethical thinking, analysis and communication.

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Preface xiv
A cknowledgements xvi

Part 1 Accounting for decision making 1

1 Decision making and the role of accounting 2

2 Financial statements for decision making 32

Part 2 Accounting systems and processes 71

3 Recording transactions 72

4 Adjusting the accounts and preparing financial statements 128

5 Completing the accounting cycle closing and reversing entries 182

6 Accounting for retailing 234

7 Accounting systems 280

Part 3 Equity in business 341

8 Partnerships: formation, operation and reporting 342

9 Companies: formation and operations 376

Part 4 Accounting regulation of assets and liabilities 427

10 Regulation and the Conceptual Framework 428

11 Cash management and control 476

12 Receivables 520

13 Inventories 556

14 Non–current assets: acquisition and depreciation 600

15 Non–current assets: revaluation, disposal and other aspects 636

16 Liabilities 676

Part 5 External reporting and performance evaluation 715

17 Presentation of financial statements 716

18 Statement of cash flows 750

19 Analysis and interpretation of financial statements 828

Appendix Time value of money 872

Glossary 881

Index 892