Accounting is the provision of financial information to managers or owners, as well as to external users, so that they can make business decisions. It measures, monitors and controls business activities. Accounting 2nd ed provides a very accessible and easy-to-follow introduction to accounting. It introduces students to accounting and provides them with a clear understanding of the theory and practice of financial and management accounting. The text blends theory and practice by stressing the underlying concepts and context of accounting. Text thoroughly updated to include examples that comply with the new format adopted by International Accounting Standards for listed companies. Real Life Nuggets' and other material from the business press will be revised and updated. A large number of end of chapter questions of escalating difficulty, together with the accompanying answers, enables the reader to develop their understanding of the key concepts discussed in the text.