Building upon the practically oriented style of the first edition, this book on financial accounting contains new information on regulation and standard setting in Australia, more illustrative examples, and updated end-of-chapter discussion questions and problems. The material covering the more challenging aspects of the subject has been substantially rewritten to make it more understandable to undergraduate students. The book includes an analysis of accounting standards, including exposure drafts; contains two new chapters on regulation and standard setting in the public and private sectors; provides extensive reference to Australian companies' 1997 annual reports; and uses a new four-part structure to clearly identify the context of each accounting issue.
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