The successful systems based formula for teaching financial accounting that gained such academic acclaim in its first and second editions, is back! Financial Accounting remains the student's favourite! The third edition is more streamlined, more user friendly and even more accessible. An in-depth, worked example from an actual partnership, brings alive for students the accounting issues involved in partnerships, a required topic of accreditation. Financial Accounting is based on a threefold approach: an organizational flow-model is used to locate financial accounting in its organizational context; this model is then used to derive a systematic logical approach to financial accounting and the construction of the financial statements; and the text attempts to forge a firm link between the traditional diet of introductory financial accounting and the wider issues of accounting theory. Financial Accounting is the ideal text for undergraduate Accounting students.