A strong emphasis is placed on comprehending the conceptual framework, and especially on understanding and applying definitions of the elements of the financial statements. Students are able to acquire a conceptual understanding of each topic before considering the procedural aspects.
The textbook has an accompanying tutorial/assignment book by DL Kolitz, Questions, Exercises and Problems in Financial Accounting: Introductory. The chapters in both books correspond for ease of reference, especially useful when the books are used together.
A Concepts-Based Introduction to Financial Accounting (4th edition) incorporates changes to the pedagogical approach of the book, such as the inclusion of extracts from financial statements of listed companies, highlighting of key definitions in the text and the integration of pause and reflect insertions in each chapter.
The book is up-to-date with the latest requirements of International Financial Reporting Standards, local SAICA circulars and corporate law reform. The requirements and terminology of the new IAS 1 have also been incorporated throughout the book.
|Product dimensions:||6.60(w) x 9.60(h) x 1.30(d)|
About the Author
D. L. Kolitz is an associate professor in the school of accountancy at the University of the Witwatersrand. A. B. Quinn is the joint managing director at Core People, Ltd. and external examiner in the school of accountancy at the University of the Witwatersrand. G. A. McAllister is on the faculty of commerce, law, and management in the school of accountancy at the University of the Witwatersrand.
Table of Contents
Part 1 A Conceptual Overview 1
1 The Role of Accounting in Business 2
2 The Conceptual Framework 20
3 The Accounting Equation and the Analysis of Transactions 54
Part 2 The Accounting Process 83
4 Recording External Transactions 84
5 Recording Internal Transactions 112
6 Preparation of the Financial Statements 134
7 Closing Entries 162
Part 3 The Accounting Process Expanded 185
8 Recording of Purchase and Sale Transactions 186
9 The Analysis Journals 222
10 Value-Added Tax 250
Part 4 Recognition And Measurement Of The Elements Of The Financial Statements 261
11 Property, Plant and Equipment 262
12 Inventory and Cost of Sales 298
13 Accounts Receivable and Bad Debts 332
14 Cash and Bank 346
15 Non-Current and Current Liabilities 366
16 Owner's Equity 382
Part 5 Entity Forms 389
17 Accounting for Partnerships 390
18 Accounting for Companies 436
19 Accounting for Close Corporations 480
20 Entity Combinations and Conversions 504
Part 6 Sundry Topics 531
21 Statement of Cash Flows 532
22 Analysis of Financial Statements 562
23 Accounting for Non-Business Entities 592
24 Incomplete Records 610