Presenting accounting theory as a vibrant, relevant topic in a changing world, this text has established itself as the market leader in Australia and New Zealand. The third edition retains core strengths that appeal both to academics and students, critical evaluation, a writing style that is easy to read and understand, and a balanced discussion of different theories of accounting to stimulate student interest. Contemporary examples and questions have been included and other content such as the topical area of debt contracting extensively updated. With twelve chapters that are arranged in a logical sequence, this text is ideally suited for one-semester subjects. It is also an ideal text for those undertaking further research at postgraduate levels. Comprehensive internal referencing guides point the reader to undertake further reading or investigate aspects at a deeper level.