1st Edition

Financial Accounting A Concepts-Based Introduction

By David Kolitz Copyright 2017
    622 Pages 68 B/W Illustrations
    by Routledge

    622 Pages 68 B/W Illustrations
    by Routledge

    Financial accounting is the branch of accounting thought and practice concerned with preparing and providing information for external users of financial statements. This textbook helps students to understand the concepts that underpin the application of accounting theory to solve accounting problems.

    This international edition includes extracts from financial statements, definitions of key terms and exam examples. Unlike other textbooks, the author provides analysis of why accountants do what they do, and not just how. With such a wealth of accounting models and diagrams intertwined with this analysis, this book guides the reader through all the practicalities and concepts of financial accounting. Additional online questions, exercises and problems provide an opportunity to put this new-found knowledge into practice along the way.

    This book is an essential guide for students new to accountancy, and an equally useful tool for more experienced students and researchers.

    Part 1: A Conceptual Overview  1. The Accounting Environment  2. Fundamental Accounting Concepts  3. The Accounting Equation and the Analysis of Transactions  Part 2: The Accounting Process  4. Recording External Transactions  5. Recording Internal Transactions  6. Preparation and Presentation of Financial Statements  7. Closing Entries  Part 3: The Accounting Process Explained  8. Purchase and Sale Transactions  9. Analysis Journals  Part 4: Recognition and Measurement of the Elements of the Financial Statements  10. Property, Plant and Equipment  11. Inventory and Cost of Sales  12. Accounts Receivable 13. Cash and Bank  14. Accounts Payable 15. Owner's Equity and Non-Current Liabilities  Part 5: Entity Forms  16. Partnerships  17. Companies  Part 6: Sundry Topics  18. Statement of Cash Flows  19. Analysis of Financial Statements  20. Non-Business Entities  21. Incomplete Records


    David Kolitz is Professor of Accounting at The University of Exeter, UK

    'A very convenient and easy way into the complex material of accounting ... with its useful features, examples, and structure, [the book offers] a very diverse learning package. This book is a positive contribution to the literature.' - Christiane Pott, International Journal of Accounting

    'Written in a very friendly, easy-to-read style, this excellent financial accounting text will suit beginners as well as more experienced learners. Comprehensive and up-to-date, it enables readers to explore different angles of financial reporting. It makes good use of a number of relevant contemporary examples, which helps with maintaining student motivation.' - Dr Petros Vourvachis, Lecturer in Financial Accounting, Loughborough University, UK