An Introduction to Financial Accounting

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This student-focused textbook by Margaret D’Arcy provides a easy-to-understand and comprehensive guide for those who are either commencing their studies in financial accounting or trying to gain an appreciation of the basic concepts of accounting, including and emphasising the principles of double-entry bookkeeping.

ISBN number:  
Price: €55.00  

Designed for students preparing for both professional accounting and undergraduate examinations, An Introduction to Financial Accounting not only covers the basic principles of accounting but also introduces some ‘basic’ international accounting standards. This book is also highly suitable for accountancy modules on courses for non-accountants. The book is presented in a step-by-step format, with many illustrative practical examples to support concepts. Full chapters on Control Accounts, Suspense Accounts and Incomplete Records are also included (areas not typically covered in other textbooks but which cause students difficulties).


Review questions are included at the end of each chapter. Solutions to these questions are included in an Appendix to the book. Each chapter also includes longer, more challenging questions, the solutions to which are available to adopting lecturers as part of the online resources for the book.  All solutions accompanied by detailed analysis and explanation of the steps to be undertaken in arriving at the solution.


Chapter 1    Financial Accounting: Key Terms and Concepts
Part I – Double-entry Bookkeeping
Chapter 2    Recording Financial Transactions and Preparing Financial Statements
Chapter 3    Inventory and Cost of Sales
Chapter 4    Accruals and Prepayments
Chapter 5    Bad Debts and Allowances for Bad Debts
Chapter 6    Property, Plant and Equipment, and Depreciation
Chapter 7    Accounting for Value-added Tax
Chapter 8    Accounting for Wages and Salaries
Chapter 9    Control Accounts
Chapter 10  Bank Reconciliations
Chapter 11  Suspense Accounts
PART II – Sole Traders
Chapter 12  Financial Statements of Sole Traders
Chapter 13  Incomplete Records
PART III – Specialised Financial Statements
Chapter 14  Financial Statements of Clubs and Societies
Chapter 15  Manufacturing Accounts
PART IV – Partnerships
Chapter 16  Partnerships: An Introduction
Chapter 17  Partnerships: Changes in Profit-sharing Ratios
Chapter 18  Partnerships: Complex Issues
PART V – Companies
Chapter 19  The Regulatory and Conceptual Frameworks for Financial Reporting
Chapter 20  Presentation of Financial Statements
Chapter 21  Statement of Cash Flows
Chapter 22  Inventories
Chapter 23  Accounting Policies, Changes in Accounting Estimates and Errors
Chapter 24  Events After the Reporting Period
Chapter 25  Construction Contracts
Chapter 26  Income Taxes
Chapter 27  Property, Plant and Equipment
Chapter 28  Accounting for Leases
Chapter 29  Borrowing Costs
Chapter 30  Accounting for Government Grants and Disclosure of Government Assistance
Chapter 31  Financial Instruments
Chapter 32  Provisions, Contingent Liabilities and Contingent Assets
Chapter 33  Investment Property
PART VI – Interpretation of Financial Statements
Chapter 34  Interpretation of Financial Statements
Appendix A – Solutions to Review Questions


Format: Paperback, 800pp
Published: September 2015


For further information contact or telephone on (+353) 01 637 7204


The Author


Margaret D’Arcy holds a BA in Accounting and Finance from DCU and is an Associate of Chartered Accountants Ireland. She has extensive experience in delivering courses for professional accounting examinations. Margaret has been lecturing for almost years and has taught both management and financial accounting for both third level and professional education courses. Previous to her lecturing and teaching career, Margaret held a number of roles in financial institutions in such areas as retail banking, treasury and international operations.