This book is designed for degree-level accounting and business students at institutions of higher learning. It is aligned with the framework-based teaching of International Financial Reporting Standards (IFRS) pedagogy.

    This edition offers updated content that expands on the knowledge and skills introduced in Financial Accounting and Reporting 1. The chapters of this book exposes students to more complex items, while exploring the latest developments of 10 key topics—property, plant and equipment, inventory, intangible assets, investment property, biological assets, financial instruments, leases, deferred tax, group accounts, and impairment of assets.

    The book guides students systematically and progressively in acquiring the required technical competencies in MFRS. The discussions are thorough and aptly punctuated with relevant worked examples to enhance students’ grasp of various concepts and issues, and how these are related to the conceptual framework. Chapter summaries are included to recap the gist of each chapter, while the key terms in each chapter are given for quick reference. Students are also provided with ample review questions, application exercises and case studies to assess and reinforce their learning.