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Understanding Financial Accounting

A guide for non-specialists

Jimmy Winfield, Mark Graham, and Taryn Miller

04 March 2021

ISBN: 9780198847274

480 pages

In Stock

Price: £49.99

Motivated throughout by the needs of business and management students, an abundance of global examples from real businesses empower students to unravel and critique financial statements confidently.


Focusing on the content that will benefit business and management students, and featuring a wealth of global examples from real businesses, the authors enable students to unpick and analyze financial statements with confidence.

  • Written in a highly engaging style, the authors provide refreshing and lively support to students
  • Focused on IFRS content and how to unlock the information valued by decision makers, the content is ideal for newcomers to accounting and supports readers as they progress to perform more advanced analysis
  • The authors address broader topics of vital interest to accounting and analysis, such as business valuations, financial scandals, and emerging trends in corporate reporting
  • Enriched by examples and real-world financial statements from a myriad of multinational companies, students can contextualize the subject matter and practise their interpretation skills
  • Each chapter closes with a series of questions that encourage independent learning and critical thinking; these are accompanied by answer guidance from the authors
  • Further online resources such as additional case studies with questions, answer guidance, and multiple-choice-questions with instant feedback provide additional support to students and teachers
  • Also available as an ebook enhanced with self-assessment activities and multi-media content to offer a fully immersive experience and extra learning support

About the Author(s)

Jimmy Winfield, Associate Professor,, University of Cape Town, Mark Graham, Associate Professor,, University of Cape Town, and Taryn Miller, Senior Lecturer, University of Cape Town

James "Jimmy" Winfield is an Associate Professor at the University of Cape Town (UCT), where for many years he has taught courses in financial reporting, management accounting, and business ethics for the College of Accounting, Graduate School of Business and Philosophy Department. He has received many awards for his teaching, including the National Award for Excellence in Teaching and Learning, granted by South Africa's top higher education council. In addition to his several qualifications in Accounting, Jimmy has a Master of Arts in Politics, Philosophy and Economics, which he received from the University of Oxford. He is also the lead author of the book Business Ethics & Other Paradoxes (Fairest Cape Press, 2014) .

Mark Graham is a chartered accountant and an Associate Professor at UCT's Graduate School of Business where he is a multiple award-winning teacher of finance and accounting on the MBA, EMBA, and various executive programs. He is a former Head of the College of Accounting at UCT, where he taught aspiring chartered accountants for over 20 years. Mark is also the former chair of the Association of Heads of Accounting in South Africa and has been involved with Ernst & Young's Excellence in Reporting awards since its inception in 1997. He is now the current chair of the adjudication panel for the annual Ernst & Young's Excellence in Integrated Reporting awards.

Taryn Miller is a chartered accountant and Senior Lecturer in the College of Accounting at UCT, where she is Head of the financial reporting section. She is an established researcher in the areas of core accounting concepts, curriculum reduction and cognitive load, and a producer of many applied case studies. She also leads projects driving curriculum change to equip graduates with the necessary skills and relevant competencies for the future world of work. Taryn has pioneered and now convenes online courses for thousands of candidates preparing to sit their final board exams. She also regularly consults on technical accounting issues to listed and unlisted companies.

Table of Contents

    1:Financial accounting in context
    2:Accounting basics
    3:Financial reporting standards
    4:Income and expenses
    5:Cash flows
    8:Leases, foreign exchange, and deferred tax
    9:Group financial statements
    11:Financial analysis
    12:Business valuations
    13:Creative accounting
    14:Trends in corporate reporting


"An excellent and comprehensive overview of financial statement analysis that is appropriate for beginners. Challenging points are carefully explained and fully explored." - James Brackley, University of Birmingham

"I really like the way it is written: very simple, with no unnecessary details for non-accountants." - Oiza Akubelem, Nottingham Trent University.

Additional Resources

Digital formats and resources

Understanding Financial Accounting is available for students and institutions to purchase in a variety of formats, and is supported by online resources.

The e-book offers a mobile experience and convenient access along with functionality tools, navigation features, and links that offer extra learning support: www.oxfordtextbooks.co.uk/ebooks

Online resources for students and lecturers include further case studies and accompanying questions with answer guidance, multiple-choice-questions with instant feedback, and additional worked examples.