Financial Accounting, 8th Edition

ISBN: 9781742466361

Financial Accounting, 8th Edition demonstrates the applications of financial accounting, providing a comprehensive understanding of how financial statements are prepared. The text explores how this information assists decision makers, strengthening your understanding by providing frequent examples.


This text comes with WileyPLUS, where you can access an online version of the textbook as well as a wealth of interactive iStudy resources. In addition, you can access a comprehensive collection of practice tests that will help you ace your exams. By offering varied questions and instantaneous feedback to your answers, WileyPLUS makes every study session successful.


  • Extensive end-of-each chapter activities include discussion questions, exercises, problems and case studies.
  • Concepts for Review start every chapter so that you can see what content you must master before proceeding.
  • Clear, comprehensive and easy-to-follow explanations of accounting processes, with a particular focus on financial accounting procedures.
John Hoggett has taught accounting at several different universities in Western Australia and Queensland during his 40 years as an academic. He has taught introductory accounting, corporate accounting and accounting theory to undergraduate and postgraduate students.

John Medlin is a senior lecturer in the School of Commerce at the University of South Australia. After working in the industry for a few years, John moved to education where he has lectured in both financial and management accounting, accounting theory economics and business finance.

Lew Edwards is Emeritus Professor of the School of Accounting, Queensland University of Technology. Lew’s career includes over 25 years teaching financial and managerial accounting to undergraduate and postgraduate students. He is both a chartered accountant and a CPA, and served for many years on education and technical standards committees of the professional accounting bodies.

Matt Tilling is a senior lecturer at the University of Notre Dame. He has taught a range of accounting topics to both undergraduates and postgraduates in over a decade of university teaching, with a primary focus on issues affecting large corporations. Matthew has also published articles on accounting education and social and environmental accounting in a range of international journals.

Evelyn Hogg is a senior lecturer in financial accounting and managerial accounting at the University of Notre Dame. She is a chartered accountant and a chartered management accountant. She has over 25 years of university teaching, commercial training and consulting experience in accounting and assurance services.

Part 1 Accounting for decision making
1. Decision making and the role of accounting
2. Financial statements for decision making

Part 2 Accounting systems and processes
3. Recording transactions
4. Adjusting the accounts and preparing financial statements
5. Completing the accounting cycle — closing and reversing entries
6. Accounting for retailing
7. Accounting systems

Part 3 Equity in business
8. Partnerships: formation, operation and reporting
9. Companies: formation and operations

Part 4 Accounting regulation of assets and liabilities
10. Regulation and the Conceptual Framework
11. Cash management and control
12. Receivables
13. Inventories
14. Non-current assets: acquisition and depreciation
15. Non-current assets: revaluation, disposal and other aspects
16. Liabilities

Part 5 External reporting and performance evaluation
17. Presentation of financial statements
18. Statement of cash flows
19. Analysis and interpretation of financial statements

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