Includes index.

The seventh edition of this popular and established text, Financial Reporting, combines financial accounting theory with a detailed examination of the legal and regulatory framework of accounting. The clear explanations, interspersed with activities and feedback to stimulate interest in the topics, make it the ideal text for second and third year students of accounting, MBA and professional students. Financial Reporting has been completely revised and updated to incorporate the first International Financial Reporting Standard (IFRS 1), the latest Financial Reporting Standards (FRS) and Financial Reporting Exposure drafts (FREDS). Written in a clear and accessible style, the text covers the latest ASB documents up to and including FRS19 on deferred tax. A supporting website provides the Instructor's Manual on a password-protected part of the site.