DescriptionFinancial Accounting: A User Perspective, Sixth Canadian Edition maintains its unique focus on the users of accounting information while presenting accounting concepts in a traditional framework. Students learn about underlying accounting concepts and accounting systems and get to apply that information from a user perspective. Unlike other books, Financial Accounting uses the analysis of real companies' financial information as the focal point for the user perspective. This unique approach has allowed all students, majors and non-majors alike, to gain the solid understanding of accounting that they will need to succeed in business. The text, paired with WileyPLUS, forms a strong teaching and learning package.
- The text is written using the new International Financial Reporting Standards (IFRS) required in Canada, as of January 2011. Two international companies, H&M and HMV are used throughout to fully demonstrate the use of the new standards. Canadian companies are also used to illustrate accounting examples where appropriate. Using IFRS involves a new “language” and the new terminology is emphasized using Summaries of Equivalent Terms.
- The differences between IFRS and Accounting Standards for Private Entities are also covered using comparative ASPE vs IFRS GAAP boxes in chapters where applicable.
- There has been a significant restructuring of content in chapters 2-4 to provide more clear coverage of the preparer topics, such as the transactions in chapter 2, with a new set of transactions introduced in chapter 3 for more complete coverage, and the Income Statement (Statement of Earnings) information is moved from chapter 3 to chapter 4.
- To enhance the conceptual focus of the book, further emphasis has been placed on Earnings Management boxes.
- A unique balance between a user and preparer perspective runs throughout the book and recognizes the fact that the course is taken by accounting and non-accounting students alike. Each chapter starts with a "User Relevance" section to put the material in context.
- The use of excerpts from financial statements and annual reports of over 60 real Canadian and international companies allows students to gain an understanding of the important elements of financial statements and exposes them to actual accounting output they will use in the future. All of the statements have been updated for this revision.
- Pedagogical features provide extra explanation for students, so they better understand the issues being discussed. Features include Helpful Hints to give students help or a tip on some of the difficult topics.
- Eight varieties of assignment material: Assessing Your Recall, Applying Your Knowledge, User Perspective Problems, Reading and Interpreting Published Financial Statements, Beyond the Book, Cases, Critical Thinking Questions and Integrative Problems, satisfy a variety of learning and teaching objectives.