Financial accounting permeates all facets of today’s social and commercial endeavours. A thorough acquaintance with this subject is, therefore, becoming a necessity for a wide range of individuals. Although this book is primarily addressed to university and polytechnic students as well as candidates who are preparing for professional examinations in accounting, finance, business and related disciplines, it is a compelling reading material for all cadres of managerial staff as well as other professionals who either seek to be able to read and interpret financial statements relating to their own organizations, or to have a reasonable appreciation of accounting numbers to guide their investment decisions.
This third edition, while preserving the earlier features of the book, has updated the material presented in the earlier editions, particularly with regard to changes brought about by new legislations, new pronouncements by the accounting profession and new best practices, especially those contained in the prevailing accounting and financial reporting standards.
The author is an Emeritus Professor of Accounting and Business Finance, having taught and researched in these related fields for several decades. He combines both professional and academic experience. He was in industry for more than a decade before going on to make a career in academics. His industrial experience spans the oil and gas industry, capital market operations, investment banking and business advisory, while his academic career consists of over four decades of teaching and researching in several universities both in Nigeria and overseas. During his academic career he rose to the position of Vice-Chancellor of a first generation university.
Emeritus Professor Anao is widely published. He has authored or co-authored several books used in tertiary institutions and in the professional accounting and finance world, as well as a large number of journal articles. He has been editor or editor-in-chief of 14 journals. He brings his extremely versatile exposure to bear on the unique style of presentation adopted in this book, which is essentially a beginner’s text. He holds the firm belief that a sound foundation in accounting is essential to a successful professional/ academic career in that field. This is attested to by very many of his former students who are now Professors in universities or Captains of industry, both within and outside Nigeria.