Description Accounting 6th edition continues the strong reputation established by this leading Australian text as the most comprehensive book for students studying introductory accounting at either undergraduate or postgraduate programs.
The new edition is ideal for accounting and non-accounting majors alike illustrating the applications of accounting and its role in making business decisions. Accordingly, material on the accounting process and the regulatory environment has been thoroughly updated in line with the new IFRSs and the equivalent Australian accounting standards.
The previous editions were renowned for the number of exercises and problems, and the new edition builds upon this superior teaching feature. The aim of the exercise material is to encourage student confidence in using accounting through the development of skills in decision-making, critical thinking, ethical thinking, analysis and communication.
NEW TO THIS EDITION
IASs referenced before equivalent AAS.
New improved design for student ease and readability
Financial Accounting 6th edition contains a unique chapter on the dissolution of partnerships that is not found in Accounting 6th edition.
All content has been updated to accord to the latest accounting standards and terminology. Income Statement, formerly known as the Statement of Financial Performance ore Profit and Loss Statement, and Balance Sheet, formerly known as the Statement of Financial Position are used throughout.
End of chapter exercises and problems are clearly identified as service, retail or manufacturing through the use of a margin icon. And all questions and problems can be GST non-compliant or compliant.
End of chapter problems have been coded according to the level of difficulty and time they take to complete.
Questions for Review have been integrated into the body of the text to promote mastery of the concept before progressing on to the next learning objective.
Clear, thorough description of GST is supported with clear and correct worked examples. A GST icon appears on the end of chapter exercises and problems that require the student to account for it. Additionally, the GST is covered in the Appendix to Chapter 3 to provide further detail on terminology, how the GST operates, and reference to relevant legislation.
Chapter 7 Accounting Systems uses MYOB Accounting Plus version 14 for illustration. The role of AIS is integrated throughout the text where appropriate.
Scene Setter vignette highlights a business experience that will be developed and explained through the chapter. They make an ideal lecture starter.
Link to Business vignette profiles the role and impact of accounting information in various business settings.
Activities Boxes ask students to apply the information they have just read to their own business experiences.
Career Profiles highlight the diversity of professional roles for graduates with an accounting qualification.
Expanded and enhanced ancillary package for both students and instructors including practice tests, extra activities and eFlashcards on the text website.
FEATURES
Learning Checks are positioned throughout the chapters and summarise the key learning outcomes for each chapter.
Clear, comprehensive and easy to follow explanations of accounting processes.
Concepts for Review start every chapter. Students can see what content they must master before proceeding.
Extensive problem set at the end of each chapter including discussion questions, exercises, problems and many case studies. The end of chapter material has a strong decision making emphasis to help students understand how accounting information is used to make business decisions.
End of chapter case studies have been thoroughly updated and almost all are based on real data and real firms. The case studies include
Decision making
Critical thinking
Communication/Group activity
Ethical issues
Financial reporting
End of chapter glossary is page referenced back to where the terms was defined
The most comprehensive supplements package for both students and instructors of any introductory Australian accounting text on the market
SUPPLEMENTS: PowerPoint, Solutions manual, Test bank, Computerised test bank, Tutors guide, Art files
Table of Contents
Part 1 Accounting for decision making
Chapter 1 Decision making and the role of accounting
Chapter 2 Financial reports for internal and external decision making
Part 2 Accounting systems and processes
Chapter 3 Recording transactions
Chapter 4 Adjusting accounts and preparing financial statements
Chapter 5 Completing the accounting cycle
Chapter 6 Accounting for retailing
Chapter 7 Accounting systems-service and retail
Chapter 8 Accounting for manufacturing
Chapter 9 Cost accounting systems
Part 3 Financial planning, control and decision making
Chapter 10 Cost-volume-profit analysis for decision making
Chapter 11 Budgeting for planning and control
Chapter 12 Cash management and control
Chapter 13 Performance evaluation by managers
Chapter 14 Differential analysis, profitability analysis and capital budgeting
Part 4 Equity in business
Chapter 15 Partnerships: Formation, operation and reporting
Chapter 16 Companies: Formation and operations
Part 5 Assets & liabilities
Chapter 17 Regulation and the conceptual framework
Chapter 18 Receivables
Chapter 19 Inventories: Retailing
Chapter 20 Non-current assets: Acquisition and depreciation
Chapter 21 Non-current assets: Revaluation, disposal and other aspects
Chapter 22 Liabilities
Part 6 Reporting and performance evaluation
Chapter 23 External reporting and analysis
Chapter 24 Cash flow statements
Chapter 25 Analysis and interpretation of financial statements
Appendix 1: Time value of money
Appendix 2: Abridged Coles Myer Annual Report 2004
