Title: Financial Accounting Theory (8th Edition)
Authors: William R. Scott, Patricia O’Brien
Publisher: Pearson; 8th Edition
Publication Date: March 20, 2014
Summary:
“Financial Accounting Theory” by William R. Scott and Patricia O’Brien provides a comprehensive overview of the principles and concepts underlying financial accounting. In this 8th edition, published by Pearson, Scott and O’Brien delve into the theoretical framework that guides financial accounting practices, offering insights into the development and application of accounting standards.
The textbook covers key topics such as the conceptual framework of accounting, income measurement, asset valuation, liabilities, equity, financial statement analysis, and the role of accounting in decision-making. Through a blend of theory, empirical research, and real-world examples, the authors explore the complexities of financial reporting and the challenges faced by accounting professionals.
With its rigorous approach and focus on critical thinking, “Financial Accounting Theory” equips students with a deep understanding of accounting principles and prepares them to analyze and interpret financial information effectively. Whether you’re a student, instructor, or accounting professional, this edition serves as a valuable resource for mastering the theory and practice of financial accounting.