This new edition of a popular textprovides an introduction toboth financial accounting and cost and management accounting for students. The text is conceptually based and allows students to develop a practical knowledge of accounting based on sound theory. This new edition has been brought up to date with changes in accounting regulations. Many more questions have been supplied for both the financial and management accounting parts of the book, and have been included in an expanded Lecturer's Guide. Further material on accounts preparation is also provided in the Manual. A running case study approach, based on a fictitious user and preparer of accounting information, and a management accounting consultant, brings issues to life for students and allows for a real-life perspective on accounting. Throughout the text, examples, questions and problems allow students to practise the application of theory and techniques. This text combines in a single volume, the two single-subject texts by the same author, providing an economic, high-value alternative for the student to purchase. *Examples, questions and problems allow students to practise. *Application of theory and techniques.;*Running case study approach based on user/preparer of accounts. *Running accounting example, Safe and Sure, is based on the accounts of a real FTSE-100 company.