Financial Accounting and Reporting, 21st edition

Published by Pearson (June 9, 2025) © 2025

  • Jamie Elliott Consultant
  • Barry Elliott Consultant
  • Jo Watkins
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Title overview

Covering financial accounting principles in detail and relating this to real-world practice and international accounting standards, Financial Accounting and Reporting, 21st edition acts as a companion to your modules across more than one year of your accounting course.

Using step-by-step worked examples, and drawing out the commercial implications, the book equips you with the knowledge to understand, prepare and critically discuss IFRS-compliant financial statements, supported with exercises, summaries and other features which will build your understanding and confidence in the subject.

Also available with MyLab Accounting.

Table of contents

PART 1 Introduction to accounting on a cash flow and accrual accounting basis

  1. 1 Accounting and reporting on a cash flow basis
  2. 2 Accounting and reporting on an accrual accounting basis

PART 2 Accountability

  1. 3 Corporate governance
  2. 4 Ethical behaviour and implications for accountants
  3. 5 Integrated reporting: sustainability, environmental and social

PART 3 Preparation of internal and published financial statements

  1. 6 Preparation of financial statements of profit or loss and other comprehensive income, changes in equity and financial position
  2. 7 Annual report: additional financial disclosures
  3. 8 Statements of cash flows
  4. 9 Accounting for price-level changes

PART 4 Regulatory framework – an attempt to achieve uniformity

  1. 10 Financial reporting – evolution of global standards
  2. 11 Concepts – evolution of an international conceptual framework

PART 5 Accounting for the elements of the financial statements

  1. 12 Share capital, distributable profits and reduction of capital
  2. 13 Property, plant and equipment (PPE)
  3. 14 Intangible assets
  4. 15 Inventories
  5. 16 Liabilities
  6. 17 Leasing
  7. 18 Revenue recognition
  8. 19 Taxation in company accounts
  9. 20 Employee benefits
  10. 21 Financial instruments

PART 6 Consolidated accounts

  1. 22 Accounting for groups at the date of acquisition
  2. 23 Preparation of consolidated statements of financial position after the date of acquisition
  3. 24 Preparation of consolidated statements of profit or loss, changes in equity and cash flows
  4. 25 Accounting for associates and joint arrangements
  5. 26 Introduction to accounting for exchange differences

PART 7 Interpretation

  1. 27 Earnings per share
  2. 28 Review of financial ratio analysis
  3. Analysis of published financial statements

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