Students and those new to financial accounting have a serious need for a book which covers basic principles and provides a solid starting point. Basic Financial Accounting 4th edition answers this need. The authors make no assumptions about the reader's prior knowledge of financial accounting, and their clear language and illustrative examples make the text accessible and easy to use. Practical exercises are provided at the end of each chapter to allow readers to test their progress as they work through the book. Basic Financial Accounting also serves as a helpful revision tool for basic financial accounting concepts and principles.This fourth edition has been thoroughly revised to take into account the latest IFRS terminology.