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4 | BUSINESS & ECONOMICS
Financial Accounting
Including International Financial Reporting Standards
(IFRS)
Jan R. Williams, Susan F. Haka, Mark S. Bettner, Joseph V. Carcello, Nelson C.Y.
Lam and Peter T.Y. Lau
ISBN 9780071288965 • MHID 0071288961 • 2011• Softcover • 816pp
While many texts are characterized as having either a “user” approach or
a “preparer” approach, Financial Accounting: Including International
Financial Reporting Standards is written for faculty who want to strike
a balance between these approaches. Business majors will find relevance
in the “Ethics, Fraud & Corporate Governance,” “Your Turn” and “Case in
Point” boxes throughout the chapters while accounting majors will receive
a firm grounding in accounting basics that will prepare them for their
intermediate course.
In addition, the textbook incorporates examples, case studies, and questions
drawn from Asian contexts and practices. Combined with robust endof-chapter
exercises and exciting interactive supplementary materials,
Financial Accounting: Including International Financial Reporting
Standards is absolutely relevant and essential for instructors and students
in the region.
NEW
Key Features
Focus on International Financial Reporting Standards (IFRS) and IFRS reporting companies.
IFRS terms are used in chapter text, ratio analysis, cases and end-of-chapter problems and exercises.
Financial statements are in accordance to presentation format in IFRS.
Discussion about the different accounting treatments between IFRS and U.S GAAP for topics such as
choices of inventory valuation method, classification of PPE and intangible assets and the application of
the lower-of-cost-and-net-realizable-value rule.
End-of-chapter materials and cases include other IFRS reporting companies around the world.
Actual company cases opening every chapter, which ground the theme of that chapter in a real-life example;
e.g. adidas AG, Philips, and Sinopec. .
Color-coded Accounting Cycle – Students often struggle when learning to record transactions. To help with
this challenging topic (starting in chapter three), the authors have broken the process down into four easy
steps that are uniform, color-coded, and tied to the accounting equation. Step 1: Analysis—which accounts
were recorded with an increase or decrease. Step 2: Debit/Credit rules—this helps students remember whether
the account should be debited or credited. Step 3: The Journal Entry is shown to illustrate what has happened
in the 2 previous steps. Step 4: The ledger T-accounts are shown.
Ethics, Fraud & Corporate Governance – Boxed examples on Ethics, Fraud & Corporate Governance appear
throughout the book, highlighting the importance of these topics in business today. The EOC material
also includes cases on these topics (specifically marked with an icon) to alert students to dilemmas they will
encounter in the real world.
End-of-Chapter Material
TWO sets of Problems, a full set of Exercises, and a full set of Brief Exercises in EACH chapter provide
plenty of opportunities for students to practice the concepts they’ve learned in each chapter.
Defined Key Terms and Self-Test Questions review and reinforce chapter material.
Demonstration Problems and their solutions allow students to test their knowledge of key points in the
chapters.
Critical Thinking Cases and Problems put students’ analytical skills to the test by having them think
critically about key concepts from the chapter and apply them to business decisions.
Ethics Cases challenge students to explore the impact of decisions made in business.