Financial Accounting, IFRS Edition: 2nd Edition

Features of the Second Edition

The Second Edition expands our emphasis on student learning and improves upon a teaching and learning package that instructors and students have rated the highest in customer satisfaction.

What's New?

The Accounting Cycle

For many students, success in an introductory accounting course hinges on developing a sound conceptual understanding of the accounting cycle. In the past, we have received positive feedback regarding the framework that we have employed to introduce the recording process in Chapter 2. In this edition, we have expanded our use of this framework to cover the entire accounting cycle in Chapters 1–4.

Chart of Accounts

It is important to always try to eliminate unnecessary barriers to student understanding. Sometimes, the accounting course can seem unnecessarily complicated to students because so many account titles are used. In order to reduce possible confusion and to keep students focused on those concepts that really matter, we undertook to streamline the number of accounts used in the textbook, supplements, and WileyPLUS. See inside the front cover of the textbook for a sample chart of accounts, which represents the majority of the account titles used.

Anatomy of a Fraud

Many users of our textbook have responded favorably to our Anatomy of a Fraud feature, previously only included in Chapter 7 (Fraud, Internal Control, and Cash). They have requested that we expand it throughout the textbook to demonstrate the importance of internal ...