The document summarizes the changes made in the latest edition of a financial accounting textbook. Key changes include updated legislation, more definitions highlighted in the text, additional "pause and reflect" scenarios, real-life application examples, and improvements to teaching and learning features. Transactional analysis diagrams were also added as an innovative way to explain the linkage between conceptual understanding, the accounting equation, and double-entry bookkeeping.
A Concepts-based Introductionto Financial Accounting Infographic
1. 05
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The latest
edition has
the following
changes
1
3
4
6
2
5
Legislation updates
i.e. Companies Act
More key definitions
in the text
More pause and
reflect scenarios
in each chapter
Real-life application:
Concepts in context
Teaching and learning improvements:
chapter opener which summarises
main elements of each chapter -
learning path tools at the beginning
of each chapter (business focus,
dashboard [how to navigate the
content], learning outcomes and
overview of topics)
Transactional
analysis diagrams
– which is an
innovative way
of explaining
and linking the
conceptual
underpinning to
the accounting
equation and
finally to double
entry bookkeeping.
Key Pedagogical Features
Learning path tools
Learning path tools have been introduced at the beginning of each
chapter.These include a Business Focus section, where a real life scenario
is discussed in the context of the chapter contents, as well as a Dashboard,
which guides the student on how to study the particular chapter.
Key definitions
Key definitions are highlighted in each chapter.This give students a focus
when reading the text and are useful for revision purposes.
Pause and reflect scenarios
Pause and reflect scenarios are also included in each chapter. These
are short scenarios, both narrative and numerical, designed to confirm
understanding, illustrate a specific point or to make the reader think about
the meaning and implication of the preceding paragraphs.
Concepts in context
Within each chapter, there are now extracts from published financial
statements of listed companies, together with a short discussion inviting
students to consider the Concepts in context.The discussion shows students
the practical relevance of what they have read in the chapter.
Diagrams
Diagrams are used extensively throughout the book to enhance understanding.
Explanations to examples
Explanations have been added to all examples so that students can see
the ‘why’ as well as the ‘how’. i
The transactions in the Smart
Concepts case study (that
runs from chapters 2 to 7)
have been grouped into
distinct sets to make the case
study more manageable and
understandable to students.
In addition, there is an
innovative way of explaining
and linking each transaction
from its conceptual
underpinning through to the
accounting equation and
finally to the double entry
system.
A unique learning feature is the linking of the concepts, the accounting equation
and double-entry bookkeeping through the use of a three-step process.
Chapter 2
introduces students
to the concept of
analysing a transaction
Chapter 3
takes this a step further
by incorporating the
accounting equation
Chapter 4
integrates chapters 2 and
3 and includes double-
entry bookkeeping
1 2 3
The Smart Concepts
case study
Lecturers’ support material
There are
over 300 slides
that closely follow the order
of each chapter and include
selected diagrams from the
book as well as solutions to
the main examples.These
are made available to
prescribing institutions.
Teaching notes
are available for each
chapter on how to present
the concepts-based
approach.
Students’ support material
On-line lecture-readiness
tests are available
to assess students’
understanding of each
chapter in preparation
for lectures.
www.juta.co.za AND COMPANY (PTY) LTD
In much the same way like
a rainy-day fund gives you
direction and can provide
peace of mind in the financial
context, A Concepts-based
Introduction to Financial
Accounting and the
accompanying question
book – Questions, Exercises
and Problems in Financial
Accounting by David Kolitz
do the same when it comes
helping students understand
Financial Accounting!