For courses in introductory financial accounting. A student-centered approach to financial accounting Accounting is the language of business, and understanding the role accounting plays in business is critical to a student's success in earning a business degree.Financial Accounting, International Financial Reporting Standards puts the focus on the purpose of accounting in business.With student-friendly examples and streamlined chapters, the 12th Edition delivers a student-centric approach to learning financial accounting. While maintaining its hallmark features of accuracy and lucidity, the twelfth edition also includes updated coverage of the Conceptual Framework for Financial Reporting; new and updated financial statements; real-world examples, illustrations, and exhibits; and discussions on how the COVID-19 pandemic impacted organizations.