Almost every qualification offered at tertiary institutions requires students to have basic accounting knowledge; yet few if any textbooks cater for those who have not done accounting as a matric subject. Practical accounting is therefore written for non-accounting students who need to gain the skills to comprehend accounting transactions and interpret financial statements. Practical accounting has integrated topics in financial accounting and cost accounting; providing a broad overview that ranges from an introduction to fundamental principles to the preparation; analysis and interpretation of financial statements. The chapters are presented in an easily understandable format and have been structured to suit the new programmes of non-accounting students in the various universities and universities of technology in South Africa. There are many practical examples and self-assessment questions that will help students to master the basics of accounting.