How are assets and liabilities measured? Who are the primary users of the fi nancial reports and accounting information? Which is the best measurement approach to use? How should a financial item be recognised and measured? Accounting Theory 7e assists you - the student - to answer these questions and provides the necessary skills to interpret, discuss, evaluate and criticise accounting theories and concepts. Accounting theory underpins many of the decisions you may be required to make in relation to measuring fi nancial items and disclosing accounting information to the users of fi nancial reports. The new edition has an international focus and has been updated in accordance with ongoing changes to the International Accounting Standards Board?s Framework, and addresses the differences in reporting financial information as a consequence of the international harmonisation of accounting standards and associated accounting policy choices. Throughout this...