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Concepts-Based Introduction to Financial Accounting, A 5e - DL Kolitz

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Concepts-Based Introduction to Financial Accounting, A 5e - DL Kolitz

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NEW HOWEVER COVER SLIGHTLY DAMAGED Accounting literature refers to the procedural and conceptual approaches in the teaching of an introductory accounting course. This book integrates these two approaches by teaching students to understand the why of accounting before considering the how of accounting. The pedagogical philosophy used is referred to as the ‘concepts model’, hence the title. This impacts on both the order of teaching of the topics, as well as how various topics are taught. A strong emphasis is placed on comprehending the conceptual framework, and especially on understanding and applying definitions and recognition criteria of the elements of the financial statements. Students are able to acquire a conceptual understanding of each topic before considering the procedural aspects. The fifth edition of A Concepts-based Introduction to Financial Accounting is up to date with the latest requirements of International Financial Reporting Standards. It incorporates expanded pedagogical features such as learning path tools at the beginning of each chapter and extracts from published financial statements within each chapter that relate to the chapter content. These complement the existing features including the highlighting of key definitions in the text and the integration of pause and reflect scenarios in each chapter. This textbook has an accompanying question book by DL Kolitz and CL Service, M Kolitz, and G Adams "Questions, Exercises and Problems in Financial Accounting: A Concepts-Based Introduction". You can learn more about this title on the on the author's Facebook page here Contents Include: Part 1 A Conceptual Overview Chapter 1 The Accounting Environment Chapter 2 Fundamental Accounting Concepts Chapter 3 The Accounting Equation and the Analysis of Transactions Part 2 The Accounting Process Chapter 4 Recording External Transaction Chapter 5 Recording Internal Transactions Chapter 6 Preparation and Presentation of Financial Statements Chapter 7 Closing Entries Part 3 The Accounting Process Expanded Chapter 8 Value-added Tax Chapter 9 Purchase and Sale Transactions Chapter 10 Analysis Journals Part 4 Recognition and Measurement of the Elements of the Financial Statements Chapter 11 Property, Plant and Equipment Chapter 12 Inventory and Cost of Sales Chapter 13 Accounts Receivable Chapter 14 Cash and Bank Chapter 15 Accounts Payable Chapter 16 Owner's Equity and Non-current Liabilities Part 5 Entity Forms Chapter 17 Partnerships Chapter 18 Companies Chapter 19 Close Corporations Part 6 Sundry Topics Chapter 20 Statement of Cash Flows Chapter 21 Analysis of Financial Statements Chapter 22 Non-business Entities Chapter 23 Incomplete Records Of Interest and Benefit to: Students studying introductory courses in financial accounting at tertiary level. The book is suitable students studying on a professional accounting / CA stream and for students on a general stream. Key Benefits: The chapter openers have been redesigned and now include a ‘Business in Focus’ section where a real-life scenario is discussed in the context of the chapter contents as well as a ‘Dashboard’ which guides the student on how to study the particular chapter. The transactions in the Smart Concepts case study (that runs from chapter 2 to 7) have been grouped into four distinct sets to make the case study more manageable and understandable to students. In addition, there is a new innovative way of explaining and linking each transaction to the conceptual underpinning, the accounting equation and the double entry. All journal entry account names now have a suffix, A (for asset), L (for liability), I (for income), E (for expense) and OE (for owners equity). This helps students to understand journal entries and constantly relate back to the conceptual underpinnings. Within each chapter, there are now extracts from published financial statements of listed companies together with a short discussion inviting students to consider the ‘Concept in context’. The discussion shows students the practical relevance of what they have read in the chapter. The VAT chapter is introduced earlier and VAT implications are now included in the chapters on purchase and sale transactions, analysis journals inventory, PP&E, accounts receivable and accounts payable. Explanations have been added to all examples so that students can see the ‘why’ as well as the ‘how’. Every chapter has been revised with the emphasis on technical updating, making the text more readable and including additional examples.

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