Accounting 7 th edition continues the strong reputation established by this leading Australian text as the most comprehensive book for students studying introductory accounting at either undergraduate or postgraduate programs. The new edition is ideal for accounting and non–accounting majors alike illustrating the applications of accounting and its role in business decision making. Accordingly, information on the accounting process and the regulatory environment has been thoroughly updated in line with recent changes to AIFRS and the Framework as per developments with the International Accounting Standards Board. A new, four colour design provides students with a more reader friendly version that will enhance their understanding of concepts and general usage of the text. The text builds on the thorough and reliable explanation of the accounting process through the addition of new ‘Link to business’ chapter vignettes that apply the principles to practice. Previous edition were renowned for the number of exercises and problems, and the new edition builds upon this superior teaching feature. The end of chapter activities will encourage student confidence in using accounting through the development of skills in decision–making, critical thinking, ethical thinking, analysis and communication. New to this Edition NEW full colour design NEW WileyPlus – is an online suite of teaching and learning resources that includes a powerful automated homework system that gives students the opportunity to complete extra practice work – such as journalising accounts, completing trial balances and preparing financial statements – and obtain instant feedback. NEW chapter opening vignettes and improved design for student ease and readability UPDATED to include latest AIFRS/IFRS accounting standards and latest changes in Framework NEW abridged David Jones 2006/2007 Annual report included as an appendix. Refer to ‘Financial Reporting’ case studies at the end of each chapter for activities. End of chapter exercises and problems are clearly identified as service, retail or manufacturing through the use of a margin icon. Activities are iconed to identify them as being GST non–compliant or compliant. End of chapter problems have been coded according to the level of difficulty and time they take to complete.