Accounting (8^th Ed.)

ACCOUNTING 8th 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. This new edition illustrates the applications of accounting and explains the role of accounting in business decision making. Accordingly, information on the accounting process and the regulatory environment has been thoroughly updated in line with recent changes to AIFRSs and the Conceptual Framework as per International Accounting Standards Board developments.
The full-colour design provides students with a more 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 confi dence through the development of skills in decision making, critical thinking, ethical thinking, analysis and communication.

WILEY WISHES YOU SUCCESS IN YOUR ACCOUNTING STUDIES

Preface xiii

How to use this book xvii

Acknowledgements xxi

Part 1 Accounting for decision making 1

1 Decision making and the role of accounting 2

2 Financial statements for decision making 28

Part 2 Accounting systems and processes 63

3 Recording transactions 64

4 Adjusting the accounts and preparing financial statements 122

5 Completing the accounting cycle - closing and reversing entries 176

6 Accounting for retailing 228

7 Accounting systems 274

8 Accounting for manufacturing 338

9 Cost accounting systems 376

Part 3 Financial planning, control and decision making 415

10 Cash management and control 416

11 Cost-volume-profit analysis for decision making 460

12 Budgeting for planning and control 492

13 Performance evaluation for managers 538

14 Differential analysis, profitability analysis and capital budgeting 580

Part 4 Equity in business 613

15 Partnerships: formation, operation and reporting 614

16 Companies: formation and operations 648

Part 5 Accounting regulation of assets and liabilities 699

17 Regulation and the Conceptual Framework 700

18 Receivables 748

19 Inventories 784

20 Non-current assets: acquisition and depreciation 828

21 Non-current assets: revaluation, disposal and other aspects 866

22 Liabilities 906

Part 6 External reporting and performance evaluation 943

23 Presentation of financial statements 944

24 Statement of cash flows 976

25 Analysis and interpretation of financial statements 1054

Appendix Time value of money 1099

Glossary 1108

Index 1120

Lecturers and Students studying Introductory Accounting at undergraduate and postgraduate level