Introduction to Financial Accounting 10e

The 10th edition of Introduction to Financial Accounting provides comprehensive coverage of all the fundamental accounting techniques and practices required by the IFRS, IAS and the Conceptual Framework for Financial Reporting.  The authors bring the subject to life with stimulating discussions that encourage strategic thinking about the influence that accounting has on economic decision-making and its impact on society.  This new edition embraces a contemporary approach whilst retaining its renowned concise and student-friendly chapters. Packed with real-world examples, practical content, worked examples and exercises, this essential resource keeps students engaged while enhancing their understanding of complex accounting theory.  Key features include:  oCoverage of the latest developments in International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and the Conceptual Framework for Financial Reporting.  oA new chapter on Public Accountability giving background on who accountants should prepare accounts for and what should be included.  oNew accounting insights to provide practical examples of how issues are handled in real-world scenarios.  oNew contemporary issues in accounting to make students aware of the emerging issues and innovations that contemporary accountants must consider.  oUpdated real world examples highlighting European and International accounting scenarios, demonstrating the tangible impact of accounting theory.  oLearning activities, worked examples and end-of-chapter assessment material that offer students opportunities to practice key concepts and techniques.    Anne Marie Ward is a Professor of Accounting in the Department of Accounting, Finance and Economics at Ulster University. She is also a qualified Chartered Accountant and previously taught professional courses for Chartered Accountants Ireland for 15 years.  Andrew Thomas is former Senior Lecturer in Accounting and Finance at the University of Birmingham.  Mike Farrell is a Lecturer in Accounting at University College Cork. He is a Fellow of Chartered Accountants Ireland and possesses a number of years industry and practice experience.  

Table of Contents:
PART 1: The framework of accounting  1 Introduction to financial accounting 2 Financial reporting: institutional framework and standards 3 Conceptual Frameworks: objective of financial statements and the qualitative characteristics of financial information 4 Underpinning assumptions of financial reporting, recognition, measurement and accounting policies 5 Public accountability: a stakeholder perspective 6 Corporate governance, ethics and climate change PART 2: Double-entry bookkeeping (recording transactions and the books of account)  7 The accounting equation and its components  8 Basic documentation and books of account  9 Double entry and the general ledger  10 The balancing of accounts and the trial balance 11 Credit sales, purchases and journal entries   12 The cash book and petty cash book  PART 3: Preparing final financial statements for sole traders  13 The final financial statements of sole traders (introductory)  14 Adjustment for depreciation and non-current assets  15 Adjustments to financial statements: credit losses and allowance for credit losses  16 Adjustment for accruals and prepayments  17 Inventory valuation  18 The extended trial balance and final financial statements PART 4: Internal control and check  19 The bank reconciliation statement  20 Control accounts  21 Errors and suspense accounts  22 Single entry and incomplete records  PART 5: Partnerships  23 The final financial statements of partnerships  24 Changes in partnerships  25 Partnership dissolution and conversion to a limited company  PART 6: Companies  26 The nature of limited companies and their capital  27 The final financial statements of limited companies  28 Statement of cash flows  29 The appraisal of company financial statements using ratio analysis  Appendix 1: Case studies  Appendix 2: Solutions to exercises  Glossary  Index    THE FOLLOWING CHAPTERS ARE AVAILABLE ON THE ONLINE LEARNING CENTER WHICH CAN BE ACCESSED THROUGH OUR CONNECT PLATFORM. 30 Financial statements for manufacturing entities 31 The final financial statements of clubs 32 Changes in share capital 33 An introduction to consolidated financial statements 34 Value added tax, columnar books of prime entry and the payroll 35 Accounting for changing price levels