Description
What is the Conceptual Framework, and why was it updated? What is IFRS and how do you know that financial reports have been prepared in accordance with IFRS? What is the impact of the new Companies Act on financial reporting? The third edition of Financial Accounting: GAAP Principles is an accessible, comprehensive and concepts-based South African text which assists readers in understanding and applying IFRS (International Financial Reporting Standards). The pedagogy of the book supports the development of crucial strategies and sound financial reporting knowledge which provides direction in the business world of today. The book provides an excellent balance between theory, practice and strategy, making it suitable for second- and third-year courses in financial accounting, at both universities and universities of technology.

Key features

• Updated with IFRS
• Includes references to the new IFRS for SMEs
• A discussion of the new Conceptual Framework
• A fully revised chapter on financial instruments
• Includes updated provisions for income taxes
• A fully updated chapter on owners' equity for companies, in line with the new Companies Act
• A new chapter explaining how to analyse and evaluate financial statements.

Contents