Introduction to Financial Accounting is a market-leading textbook that offers comprehensive coverage of all the fundamental accounting techniques and practices required by the major accountancy bodies, and explains the reasons why transactions are accounted for in a particular manner. The authors provide stimulating discussion that enables students to think strategically about the influence that accounting has on economic decision-making and its impact on wider society. For students undertaking a degree in accounting or business studies, this ninth edition has been fully revised and updated to the latest accounting standards. It provides a contemporary approach whilst retaining its highly valued concise, student-friendly chapters and practical content. This essential resource is packed with real world examples, worked examples and exercises to keep students engaged and to aid understanding of complex accounting theory. Supported by McGraw-Hill Education’s market-leading digital adaptive technology including: - Connect, a highly reliable, easy-to-use homework and learning management solution that embeds learning science and award-winning adaptive tools to improve student results.  - SmartBook®, our adaptive reading, study and practice environment specific to the book’s content. For students: Connect features assignments that help you contextualize what you’ve learned through application, helping you synthesize information and think critically. SmartBook® helps you study more efficiently by highlighting where in the chapter to focus, asking review questions, and pointing you to resources until you understand. For instructors: Create auto-graded assignments, tests and quizzes online that can be easily tailored to the goals of your course and your students’ needs. Connect will automatically grade assignments and quizzes, providing you with easy-to-read reports, so you know which students need more guidance. Instructor resources also include PowerPoints, instructors’ manual and solutions manual. NEW TO CONNECT for 2022: In response to customer needs, 100 brand new calculation based Problems have been added to Connect to further develop students practical application skills and cement theoretical understanding.

Table of Contents:
PART 1: Theframework of accounting   1 Entities and financial reporting statements (including the natureand 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 offinancial information 6 Auditing, corporate governance and ethics   PART 2: Double-entry bookkeeping (recording transactions and thebooks of account) 7 The accounting equation and its components   8 Basic documentation and books of account 9Double 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 irrecoverablereceivables 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 exercises Glossary Index