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Now in its fifth edition, this highly respected and popular text provides non-specialist accounting and finance students on business studies courses with an essential introduction to the role of accounting in a wider managerial setting. Completely updated to reflect recent changes in International Financial Reporting Standards (IFRS), "Accounting in a Business Context" is one of the most comprehensive texts available. The logical step-by-step approach introduces students to accounting initially by considering an accessible cash-based small business, then carefully builds layers of complexity (e.g. buying and selling on credit) to facilitate clear understanding. New to this Edition: updated to reflect recent changes in International Financial Reporting Standards (IFRS); newpedagogical features to aid learning, including 'Learning Outcomes' and 'Activity' boxes; increased use of real-life examples in the case studies; use of more international companies in case studies and examples; enhanced online support resources; and, exciting new text design.