This edition of accounting standards introduces learners to general accounting principles and the disclosure requirements of company financial statements.

This edition of accounting standards introduces learners to general accounting principles and the disclosure requirements of company financial statements. In this publication, principles are illustrated through questions and solutions. The learner's understanding of principles is gradually broadened by an increase in the degree of difficulty of the questions that are posed. Self-study is actively encouraged by the inclusion of questions. Solutions to these are available to prescribing institutions only. Changes brought about by new accounting statements, issued as a consequence of the South African Institute of Chartered Accountants' improvement of accounting standards project, have once again been incorporated in this edition. Accounting standards is intended to satisfy the specific requirements of learners and to reduce the workload of educators.

• Framework for the preparation and presentation of financial statements
• Preface to Statements of Generally Accepted Accounting Practice and interpretations thereof
• Presentation of financial statements
• Income taxes
• Accounting policies, changes in accounting estimates and errors
• Earnings and headline earnings per share
• Leases
• Events after the balance sheet date
• Inventories
• Construction contracts
• Investments in associates
• Revenue
• The effects of changes in foreign exchange rates
• Borrowing costs
• Segment reporting
• Employee benefits
• Cash flow statements
• Interests in joint ventures
• Property, plant and equipment
• Financial reporting in hyperinflationary economies
• Financial instruments: disclosure and presentation
• Related party disclosures
• Interim financial reporting
• Impairment of assets
• Intangible assets
• Provisions, contingent liabilities and contingent assets
• Consolidated and separate financial statements
• Financial instruments: recognition and measurements
• Accounting for government grants and disclosure of government assistance
• Investment property
• Business combinations
• Non-current assets held for sale and discontinued operations.