Financial Accounting: Building Accounting Knowledge is a new textbook written for the first financial accounting subject that a student majoring in accounting is required to study. Based on the successful introductory accounting textbook, Accounting: building business skills, this text will provide students and academics with a well written and accessible textbook on the principles of financial accounting, with ample illustrations and applications to business. The text maintains the balance between a ‘user’ and ‘preparer’ perspective effectively by integrating real financial information and business decision choices throughout the chapters. Through the use of real company information and financial statements students will quickly appreciate the use of accounting information. The textbook clearly outlines to students how accounting information communicates the financing, operating, and investing activities of a business. The text builds a strong conceptual understanding and develops skills in the application of accounting principles and techniques, providing students with a solid foundation for studying accounting. NEW TO THIS EDITION • Real financial data integrated throughout • Dominos Pizza Enterprises, known by most students, is the ‘focus' company, and was chosen because it operates in the retail industry and has easy to read financial reports • The relationship between tax law and the accounting treatment for a goods and service tax is explained in chapter 12 ‘GST tax and tax law' • Fundamentals of the Framework and Generally Accepted Accounting Principles (GAAP) are effectively and simply outlined for students, Chapter 15 ‘Analysing and integrating GAAP, and linked to proceeding chapters in the text • The accounting treatment for partnerships is covered in chapter 13 ‘Reporting & analysing partnerships'. • Presents a balance between the user and preparer perspectives • Global nature of today's business world is emphasised via the International Notes and Business Insights • Easy-to-read writing style explains accounting processes succinctly and is ideal for all students, particularly ESL students • Chapter-opening previews contain charts that visually represent the chapter's outline. Each of these chapter ‘road maps' establishes the chapter's key concepts and their relationship to one another • Chapter-opening vignettes are brief stories that show students how key topics of the chapter relate to the real world of business and accounting. Throughout the chapter the authors refer back to opening vignettes, contextualising the ideas back in a familiar context for the student • Business Insight boxes relate the chapter's content to actual accounting situations in real business. Three different icons identify three different points of view: Management Insights, Investor Insights and International Insights • Before You Go On, Review It, Do It questions serve as learning checks at the end of major text sections. Do It exercises ask students to put their knowledge to work in some form of financial statements preparation. Worked solutions show how problems should be solved • The Decision Toolkit exercise challenges students to use financial information from a financial statement to make a financial decision. This feature appears after the last Before You Go On section in each chapter • Strong emphasis on accounting as a business decision tool and processes • To enhance conceptual understanding of the impact of transactions, accounting equation analyses appear in the margins next to each journal entry • Features 4 colour presentation, and the pedagogical features are supported with graphics and photographs.