Financial Accounting: An Integrated Approach

Kate Morgan is a sessional lecturer in the School of Accounting, UNSW Sydney, teaching the core financial accounting subject in the Masters of Professional Accounting Program. She has extensive experience in the teaching of introductory financial accounting including design and question setting. She has designed accounting materials for undergraduate and masters programs in both face-to-face and online settings including MBA face-to-face and online programs. Kate developed material for the first edition of this book, has regularly updated material through many editions and has now joined the team as an author. Prior to returning to the university she held senior management positions specialising in project and program management, accounting and information systems design. Ken Trotman is a Scientia Professor and was Head of the School of Accounting at UNSW from 1991 to February 2000. He has held visiting appointments at a range of overseas institutions including Cornell University, the University of Michigan and the University of Illinois at Urbana-Champaign. His main current research interests are concerned with judgment and decision making in accounting. He has a particular interest in the judgments made by auditors. He is a Fellow of The Institute of Chartered Accountants in Australia and a Fellow of CPA Australia. Ken was the 1993/94 President of the Accounting and Finance Association of Australia and New Zealand (AFAANZ). In 1998 he received the AFAANZ 'Outstanding Contribution to the Accounting Literature' award and later awarded life membership of AFAANZ. In 1998 he was elected as a Fellow of the Academy of Social Sciences. He received the 2000/2001 Outstanding Auditing Educator Award from the Audit Section of the American Accounting Association. He received the 2008 Notable Contribution to the Auditing Literature Award from the Auditing Section of the American Accounting Association and the 2009 Notable (Lifetime) Contribution Award in Behavioral Accounting Literature from the American Accounting Association. He received ARC Professorial Fellow Grant 2011-2015 and was inducted into the Australian Accounting Hall of Fame in 2011. Elizabeth Carson is a Professor in financial accounting and auditing in the UNSW Business School. Elizabeth teaches at postgraduate level in financial accounting and auditing, as well as supervising research students in the Honours, MPhil and PhD programs. In 2002, she received the Pearson Education Accounting Lecturer of the Year award for her development of the Accounting: A User Perspective subject in the Master of Commerce program. Elizabeth's research interests include economics of global and national audit markets, industry specialisation by auditors and audit reporting. Her PhD investigating global audit firm networks and global industry specialisation by audit firms was awarded the American Accounting Association Auditing Section Outstanding Dissertation Award in 2008. Her work has appeared in leading academic journals including The Accounting Review, Auditing: A Journal of Practice & Theory, and Accounting and Finance. Her research is currently supported by the Australian Research Council (ARC) Discovery Grant and by the International Auditing and Assurance Standards Board. Prior to joining UNSW, she worked with Pricewaterhouse Coopers (PwC) and is qualified as a Chartered Accountant.

1. Introduction to financial accounting
2. Measuring and evaluating financial position and financial performance
Appendix to Chapter 2: Background: Sole traders, partnerships, companies and financing
3. The double-entry system
Appendix to Chapter 3: A brief history of early accounting
4. Record-keeping
5. Accrual accounting adjustments
6. Financial reporting principles, accounting standards and auditing
7. Internal Control and cash
8. Accounts receivable and further record-keeping
9. Inventory
10. Non-current assets
11. Liabilities
Appendix to Chapter 11: Future cash flows: Present value analysis
12. Completing the balance sheet
13. Revenue and expense recognition: additional concepts
14. The statement of cash flows
15. Financial statement analysis
16. Accounting policy choices
17 Sustainability reporting