This text provides a first couse in accounting for students of all disciplines. The book is based on the ASB's conceptual framework, The Statement of Principles, which ensures that practical learning is underpinned by solid theoretical understanding, and is designed to be used as a running case study. quantity of information in those financial statements and looks at some of the limitations of traditional accounting practices. The book concentrates primarily on the single entity, but one chapter introduces the terminology and purpose of group accounting to the extent needed for an appreciation of published accounts.