In its US edition, Accounting Principles has been a market leading introductory accounting textbook for over 25 years. The Australasian adaptation of this highly regarded textbook accentuates its relevance to both students and academics alike with its constructive pedagogical structure, application of accounting to a wider business environment, and clear, easy-to-understand writing style. As accounting is the language of business, Principles of Financial Accounting, 3rd Edition will teach students the value of accounting information in business and its integral role in business planning and growth.The third edition thoroughly details the steps in the accounting cycle and the accounting process, from recording business transactions through to preparing financial statements, and the reporting requirements under IFRS.Throughout the chapters real company financial information and extracts from annual reports are used to reinforce how accounting information is presented, and the range of business decisions that can be made from accounting information. The text is ideal for a first course in financial accounting and students studying with this textbook will be equipped with the knowledge and skills required to further their accounting studies.

Author Biography

Lorena Mitrione, BCom, MBus, CPA, joined Monash University, Department of Accounting and Finance, in 2009 as a lecturer. For 12 years prior to this, she worked at CPA Australia. Since 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-to-date knowledge of accounting standards, accounting research, technical accounting matters and business practices. Michaela Rankin, PhD (RMIT), MEc (UNE), GradCertHE (Monash), BBus(Hons) (USQ), CPA, is currently a senior lecturer in the Department of Accounting and Finance at Monash University, Melbourne. Prior to joining Monash, Michaela held positions at RMIT University and the University of Southern Queensland, where she was awarded the Institute of Chartered Accountants in Australia Award for Teaching Excellence in 1998. She teaches financial accounting and accounting theory at both undergraduate and postgraduate level. Michaela has a broad range of research interests, including financial reporting and governance, executive compensation, the regulation and practice of sustainability reporting, carbon emissions disclosure, and accounting education. She has published widely in international journals including Accounting, Auditing and Accountability Journal , British Accounting Review, Accounting and Finance, Higher Education Research & Development and Australian Accounting Review. Keryn Chalmers, BCom, Grad Dipl, PhD, joined Monash University in 2003, and is the Head of the Department of Accounting and Finance, Monash University. For 15 years prior to this, she was with the School of Accounting and Finance at Victoria University. Her teaching responsibilities at the undergraduate and postgraduate levels have primarily been in financial accounting and financial analysis. Keryn is an active researcher in the financial accounting and financial reporting area, specifically in relation to accounting policy and disclosure choices of management.