This is a new edition of the popular narrative introduction to financial accounting principles and practice, updated for changes to GAAP and cognisant of the harmonization of GAAP rules internationally and in SA. SAICA (SA Institute of Chartered Accountants) is in the process of shifting over to International Accounting Standards, and this process is likely to conclude by the end of 2006 at the earliest. Since changes to GAAP happen quickly students progressing in a CFA or CA stream need to be fully informed about the latest changes to AC standards. The new edition of the Accounting text should be the first first-year book to refer directly to the final international GAAP standards. This title will be the first publication to market that accommodates those changes to the Standards that have already become Statements, and are therefore already in effect. It will be one of the most up-to-date textbooks in accounting. The content editor Alex Watson is a member of the SA Institute of Chart ered Accountants (Saica) committee which is reviewing the SA GAAP.

Key features

• Retains narrative strength, worked examples and accessible language of the first edition.
• Additional small module which discusses the use and analysis of published financial statements, 5 to 10 pages.
• All chapters revised closely for accounting details, new examples, and tighter text.
• 60% new questions and answers at the end of each chapter. Classic examples retained.
• Improved chapter on budgeting to impart budgeting skills to the student.
• Tighter introductory chapter and chapters in inventories and companies.

Contents

Readership
First-year Financial Accounting students at universities, universities of technology and colleges.