Introduction to Financial Accounting

Current financial reporting practice has been under major review in Europe with the approach of the Single Market and moves towards harmonization. This updated edition of Christopher Nobes' introductory text provides first-year students of financial accounting with a comprehensive and relevant approach to the subject that takes on board the increasing impact of international influences (particularly from the EC) and the recent reforms in accounting standards. Part One covers the nature of value and profit, the purposes of financial statements and specific problems of measurement. These are examined theoretically from first principles and then used to discuss accounting techniques, such as double entry, in detail. Part Two looks at other areas affecting financial accounting such as law and taxes. This book should be of interest to students and teachers of business studies and financial accounting.