Contemporary Accounting Series -- New Accounting Basics

Author: Cong Wei et al.
Publisher:
Publish Date: 2003-02-01
Features: Basic Accounting is a foundational course for accounting majors and an introductory course that must be presented in an accessible and engaging manner to cultivate the "three basics" and establish a correct guiding philosophy. Newly Compiled Basic Accounting is a new work by three teachers—Cong Wei, Zhang Xinrong, and Liang Gang. This book strives to achieve the aforementioned philosophy, building upon the strengths of similar textbooks and gradually forming its own unique characteristics in basic accounting.
1. Systematicity of Basic Theories
It is a consensus in the accounting field that accounting has two fundamental functions: calculation as the foundational function and control as the leading function. The accounting objectives are the specific manifestations of these functions, establishing two primary goals: providing true and accurate information and strengthening economic management. Both the decision-usefulness theory and the stewardship theory from abroad, as well as China's need-satisfaction theory, are encompassed within "strengthening economic management."
2. Systematicity of the Double-Entry Principle
The debit-credit system is widely recognized as simple in practice but difficult to learn. Why must the debit and credit sides be recorded in a double-entry system? Why must every transaction have a debit and a credit, and why must debits and credits always balance? Popular balance theories cannot fully explain this. This book offers innovative solutions to the challenges of learning and teaching the debit-credit system.
3. Systematicity of Account Classification
Based on a comprehensive review of domestic and international account classification experiences, the book designs new, scientific, and practical classification criteria and tables, one of its key features.
4. Systematicity of Accounting Processes
Recognition, measurement, recording, and reporting are essential accounting fundamentals and skills in basic accounting. To better achieve teaching objectives, the book emphasizes consistency throughout. Accounting principles are general norms guiding accounting work. In some textbooks, they are often taught in a single chapter, concentrating difficulties and making them less accessible. This book integrates them into relevant chapters and examples, with a dedicated section later to enhance systematic understanding. For teaching and student use, various exercises are provided at the end of each chapter.
In summary, this book is an accessible and distinctive introductory text.