The fifth edition of Financial Accounting: IFRS� Principles is a concepts-based South African text that assumes a basic knowledge of financial accounting, and then helps readers understand and apply the International Financial Reporting Standards (IFRS� Standards). It also references the IFRS for SMEs� Standard, which is applicable to small and medium-sized enterprises. The book has been updated to bring it in line with the 2018 Conceptual Framework. It has been revised to be more accessible, and now includes simpler, more concise explanations, conceptual diagrams and additional worked examples.The pedagogy of the book supports the development of crucial strategies and sound financial reporting knowledge, providing an excellent balance between theory, practice and strategy. It is suitable for second and third-year courses in financial accounting on the Chartered Accountant or General Accountant stream at universities as well as universities of technology