This revised Asian edition is an adaptation of the widely used Accounting, by Warren, Reeve and Fess. Lecturers who have many years of experience teaching accounting have adapted it. The book is tailored for use in a first-year course on basic accounting principles. It is written from a sole proprietorship perspective and covers the complete accounting cycle and important accounting areas like cash, receivables, inventories, and fixed assets. Local accounting practices are taught in this text. Local businesses have also been included in the text so that students can relate to the material better. The text is also written in a manner that Asian students will find easy to read and understand.