A concepts-based introduction to financial accounting / David L. Kolitz ; contributing author, Maeve A. Kolitz.

Includes bibliographical references.

A conceptual overview -- The accounting process -- The accounting process expanded -- Recognition and measurement of the elements of the financial statements -- Entity forms -- Sundry topics.

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 why, before considering the how of accounting. The pedagogical philosophy used here is referred to as the ‘concepts model’, hence the title. This impacts on both the order of teaching the topics as well as how various topics are taught. The effect of the concepts-based approach is particularly evident in the chapters that relate to the accounting process which give students a complete, conceptual understanding of the underlying transactions before applying the accounting equation and then only processing the transactions through bookkeeping entries. By this means, students are able to acquire a conceptual understanding of each topic before considering the procedural aspects. The seventh edition of A Concepts-based Introduction to Financial Accounting is up-to-date with the requirements of the 2018 Conceptual Framework as well as the current requirements of International Financial Reporting Standards (IFRS). This book is accompanied by Questions, Exercises and Problems in Financial Accounting: A Concepts-based Introduction, by the same author. It incorporates all the successful pedagogical features of earlier editions such as learning path tools at the beginning of each chapter, the highlighting of key definitions in the text, the integration of pause-and-reflect scenarios throughout the text, and extracts from published financial statements within each chapter, which relate to the chapter content.