Financial Accounting, 5th Edition

ISBN: 9780730313748

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Financial Accounting, 5th Edition provides you with a set of accounting skills you can use to build a successful career in diverse professional environments. This text focuses on real company financial information, exploring how this information can be analysed, interpreted and applied to management and business decision-making responsibilities.


  • Financial data from various real companies are used to highlight comparative financial results and measure financial performance. Nick Scali Furniture, Fantastic Furniture Holdings, Qantas and Fonterra Co-operative Group Ltd are a sample of the companies profiled.
  • The focus company is Domino’s Pizza Enterprises Ltd. This company was selected because it has high brand name recognition with students, operates mainly in the retail sector and has clear, easy-to-read financial statements.
  • In the Building Business Skills section at the end of each chapter, financial reporting problems use Domino’s Pizza Enterprises Ltd’s financial statements to align the chapter material to the real world.
Shirley Carlon is a senior lecturer in the Australian School of Business at the University of New South Wales. Her teaching interests include both financial and managerial accounting and auditing. Shirley has considerable experience in the delivery of both external and internal programs, including web-based courses. Shirley has received a national teaching citation award for outstanding contributions to student learning for innovations in curriculum development and the creation of peer support mechanisms for off-campus students.

Rosina McAlpine-Mladenovic is an associate professor in the University of Sydney Business School, Australia. Rosina has received five international best paper awards for her research and has been awarded faculty, university and national teaching excellence awards. One of Rosina’s main research areas is accounting education, and current interests include investigating assessment methods, student’s perceptions and approaches to learning as ways to improve accounting education practice.

Chrisann Palm is a lecturer in accountancy at Queensland University of Technology. She is a CPM and has a Graduate Diploma in Management (AGSM) and a Master of Commerce (CSU). She lectures in introductory accounting, management accounting, superannuation and financial planning. Prior to joining the tertiary sector in 2004, Chrisann worked as a management accountant for a manufacturing company in Hong Kong as well as in the financial services industry in Sydney.

Lorena Mitrione BCom, MBus, PGrad DipEc&Comm, is a lecturer in accounting at the Monash Business School. Prior to joining Monash in 2009, Lorena worked at CPA Australia. From 2001 she was the CPA Program Manager responsible for the development and maintenance of CPA Program materials and examinations. In this role Lorena developed a sound sense of the requirements for accounting learning materials while maintaining an up-todate knowledge of accounting standards, accounting research, technical accounting matters and business practices. She is currently enrolled in a PhD. Her thesis title is ‘Motivation and self-regulated learning processes applied by accounting students in a blended learning environment’.

Ngaire Kirk has a background in sheep and cattle farming and in the public and private health sectors. Ngaire’s teaching responsibilities include coordinating and teaching introductory and intermediate financial accounting papers and teaching advanced auditing. Her research interests focus mainly on financial accounting, financial reporting and accounting education, in particular the use of electronic and online resources to enhance both internal and distance learning.

Lily Wong is a senior lecturer in the College of Business, Victoria University, Australia. Lily is a recipient of international best paper awards, as well as university and national teaching excellence awards for her contribution to student learning in accounting education.

1. An introduction to accounting
2. The recording process
3. Accrual accounting concepts
4. Inventories
5. Reporting and analysing inventory
6. Accounting information systems
7. Reporting and analysing cash and receivables
8. Reporting and analysing non-current assets
9. Reporting and analysing liabilities
10. Reporting and analysing equity
11. Statement of cash flows
12. Financial statement analysis and decision making
13. Analysing and integrating GAAP
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