The main emphasis of this textbook is on financial accounting and reporting in the context of its relationship to stock market prices. With an authoritative voice, the book goes beyond standard texts on 'how to do IFRS accounting' to critically examine the rationales underlying accounting policy choice and its regulation and provide insight into the drivers of accounting change. This analysis draws on both accounting theory and empirical accounting research studies.

While the focus is on both the IFRS and the US accounting systems, the critical analysis of current practice is relevant to all countries where stock market activity is of growing significance.