Financial Accounting

Author: Li Xianzong
Publisher:
Publish Date: 2002-02-01
Features: This revised and expanded second edition builds upon the fundamental framework and achievements of the first edition, incorporating the latest achievements of the aforementioned reforms. It references the new International Financial Reporting Standards (IFRS) and the new research findings from developed Western countries. The book boldly discards outdated content, comprehensively and fairly reflecting the content and changing patterns of enterprise financial status, operating results, and cash flows. It further maintains and enhances its forward-looking, contemporary, international, general, and practical nature, striving for a close integration of theoretical and practical aspects, rigor, and flexibility.
After this revision, the book still consists of three parts and 15 chapters: Part I: Basic Theories and Conceptual Framework of Financial Accounting (Chapter 1); Part II: Accounting Theories and Methods for Specific Accounting Elements (Chapters 2 to 13); Part III: Financial Accounting Reports (Chapters 14 and 15). However, compared to the first edition, there have been significant revisions and changes in content, primarily manifested in: the adoption of new institutional regulations for accounting subjects and financial accounting reports; the full reflection of requirements for asset impairment provisions; the addition of non-monetary asset transactions, related party relationships and transactions, and internal accounting controls; the revision and deletion of outdated and overly complex practical content in each chapter; the reorganization of Chapters 14 and 15 into a unified section titled "Financial Accounting Reports," with Chapter 14 elaborating on the relevant content of accounting report notes and financial situation statements required to be disclosed under financial accounting; and the careful and meticulous correction of errors and inappropriate sections.
For teaching purposes, review questions and exercises are still provided at the end of each chapter.