Introduction to Financial Accounting, 9th Edition
Andrew Thomas & Anne Marie Ward
ISBN: 9781526803009
The ninth edition of McGraw-Hill’s market-leading textbook, Introduction to Financial Accounting, offers comprehensive coverage of all fundamental accounting techniques and boasts a contemporary approach while retaining its valuable, concise and practical content. An essential resource promoting student engagement.
It has been revised to incorporate new developments and latest conceptual frameworks of accounting standards to assist with the practice of key concepts and techniques.
What's new
Chapter Structure and Content Pattern
For the ease of reference and purpose of strategised learning, the 9th edition has been structured in parts and chapters following the 3-fold pattern of examining the purpose, theoretical foundation and practicial relevance to the topic. Through the use of comphrensive examples and the unique feature of reflective notes, students can be guided through a deeper understanding of the topic.
Extended Excercises
The excercises throughout this 9th edition all correlate, specifically created to extend from chapter to chapter to provide a more comphrehesive understanding of the different subject matter within accounting and their relationships. With solutions to some numercial excercises found in the appendix and others online, lecturers and students are urged to utilise this text in its full capacity.
Stimulate Student Learning and Understanding
Thomas & Ward have provided a textbook that both outlines the basic fundamentals and extensive reasoning of accounting. By linking techniques and practices with the most up-to-date accounting standards and using real-world examples to present the ethical and unethical aspects of accounting, students can understand the influence of accounting on economic decision-making and society as a whole.
PART 1
The framework of accounting
1. Entities and financial reporting statements (including the nature and objectives of financial accounting)
2. Financial reporting: institutional framework and standards
3. The Conceptual Framework 1: objective of financial statements, stakeholders and other reports
4. The Conceptual Framework 2: concepts, principles and policies
5. The Conceptual Framework 3: the qualitative characteristics of financial information 6. Auditing, corporate governance and ethics
PART 2
Double-entry bookkeeping (recording transactions and the books of account)
7. The accounting equation and its components
8. Basic documentation and books of account
9. Double entry and the general ledger
10. The balancing of accounts and the trial balance
11. Day books and the journal
12. The cash book and petty cash book
PART 3
Preparing final financial statements for sole traders
13. The final financial statements of sole traders (introductory)
14. Adjustment for depreciation and non-current assets
15. Irrecoverable receivables and allowance for irrecoverable receivables
16. Adjustment for accruals and prepayments
17. Inventory valuation
18. The extended trial balance and final financial statements (advanced)
PART 4
Internal control and check
19. The bank reconciliation statement
20. Control accounts
21. Errors and suspense accounts
22. Single entry and incomplete records
PART 5
Partnerships
23. The final financial statements of partnerships
24. Changes in partnerships
25. Partnership dissolution and conversion to a limited company
PART 6
Companies
26. The nature of limited companies and their capital
27. The final financial statements of limited companies
28. Statement of cash flows
29. The appraisal of company financial statements using ratio analysis
Appendix 1: Case studies
Appendix 2: Solutions to Exercise
- The latest developments in both the International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS)
- Fully revised according to the Conceptual Framework for Financial Reporting 2018
- Updated Real World Examples which highlight European and International accounting scenarios, helping students to see the real-life impact of accounting theory
- Learning Activities, Worked Examples and end of chapter assessment material give students the opportunity to practice key concepts and techniques
- Additional online chapters to accompany the text
Click here to view a sample chapter
About the authors
Andrew Thomas
Andrew Thomas is a former Senior Lecturer in the Accounting and Finance Group at the University of Birmingham Business School, UK.
Anne Marie Ward
Dr Anne Marie Ward is a Professor of Accounting in the Department of Accounting, Finance and Economics at the Ulster University at Jordanstown, Northern Ireland. She is also a qualified Chartered Accountant.
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