A Concepts-based Introduction to Financial Accounting by David L. Kolitz
Accounting literature refers to the procedural and conceptual approaches in the teaching of an introductory accounting course. This book integrates these two approaches by teaching students to understand the concepts that underpin the application of accounting theory in the solution of accounting problems. The pedagogical philosophy used is referred to as the concepts model, hence the title, "A Concepts-Based Introduction to Financial Accounting". This impacts on both the order of teaching of the topics as well as how various topics are taught. A strong emphasis is placed on comprehending the conceptual framework, and especially on understanding and applying definitions of the elements of the financial statements. Students are able to acquire a conceptual understanding of each topic before considering the procedural aspects. The textbook has an accompanying tutorial/assignment book by DL Kolitz, "Questions, Exercises and Problems in Financial Accounting: Introductory". The chapters in both books correspond for ease of reference, especially useful when the books are used together. "A Concepts-Based Introduction to Financial Accounting" (4th edition) incorporates changes to the pedagogical approach of the book, such as the inclusion of extracts from financial statements of listed companies, highlighting of key definitions in the text and the integration of pause and reflect insertions in each chapter. The book is up-to-date with the latest requirements of International Financial Reporting Standards, local SAICA circulars and corporate law reform. The requirements and terminology of the new IAS 1 have also been incorporated throughout the book.