This book has been written primarily for accountancy students in their second year of study. It focuses on the practical aspects of intermediate financial accounting, complemented by a discussion of the underlying theory. This text is particularly suitable for students of the NZ Diploma in Business second-level paper 601 Financial Accounting paper. Each chapter provides: Learning objectives Clear worked examples to illustrate methods Real-life examples drawn from New Zealand company information Chapter summaries A comprehensive set of questions and exercises to test the reader's grasp of the contents The text has been updated to meet the requirements of the New Zealand International Accounting Standards (NZ IASs), to March 2016.