Thoroughly updated to reflect changes in the current reporting framework. The text continues to be written in a user-friendly style, with numerous examples relating to Australian companies. It provides students with a detailed understanding of the accounting framework while developing their technical skills. The balanced approach provides non-accounting majors with enough detail to understand and analyse company financial statements and provides accounting majors with a sound basis for future study in accounting. With topical newspaper articles and case studies, it makes accounting interesting and approachable while encouraging students to understand and interpret accounting concepts in an Asia-Pacific context.