BOOK REVIEW: Barry Elliott and Jamie Elliott (2011). Financial Accounting and Reporting (14th. Ed). Pearson, Prentice Hall Financial Times. ISBN: ISBN: 978-0-273-74444-3, 897 pages,
Publication Date : 31/05/2020
Financial Accounting and Reporting introduces the bibliophiles to understand Accounting as a practice, a medium of communicating Financial Results of an organization and a body of knowledge to maintain the books of accounts. Of late as many books are focusing on echoing the already stated laws of accounting this book converges on the in-depth computation of accounting results useful for Management Decision Making. The book supports an accountant to prepare Financial Statements based on different focus groups. With perfect mastering of the contents of the book an accountant can prepare the statements for different user groups. It gives a perfect guidance for them. This book is very promising for several reasons. As we go through the Employee Benefits chapter of this book, there is a fine blending of IFRS and IAS where the authors have cited all necessary standards which can maximize the employee benefits and therefore the pension schemes mentioned are practically implementable. In the contemporary times we do not find books discussion the practical application of such standards in accounting. The beginners can have a look into the study of Profitability by computation of Ratios and the analysts can have a deep insight of the position using the same calculation. The chapter is well conscripted and touches the nook and corner of the analysis.
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