Top critical review
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Eh.......This textbook falls short quite a bit!
on 16 March 2012
A textbook is USUALLY for students learning things, for the the first time especially, because they're NOT experts and long-time financial directors/CFOs and the like? But try telling this to the authors of this particular book....
First of all there are NO solutions to the chapter exercises in the back of the book. What's up with that? This is not about cheating. It's hard to cheat with accounting for one thing, but when you do an exercise problem, you need to be able to double-check and see that you know what you're doing and this also helps you to correct silly little mistakes and helps you prevent further mistakes. You need the solutions even when you are honestly doing all of the chapter exercise problems, YES you do!
In my class, we had to rely on the patience of our teacher to upload all the solutions on the college website from the teacher's answer key that the authors provide. I mean really? The introductory book I used last year by Atrill and McLaney wasn't like that anyway, nor were a couple of other books by different authors that I'd read before.
Also during the chapters, certain scenarios were explained in the examples better than others. In Chapter 2, everything about how to report Non-Current Assets like PPE and Investment Property was explained well EXCEPT for the revaluation/revaluation reserve section which sounds to me like a very important thing to try to get in the end. THAT was from Hell....
I used a tutor a couple of times while I was still using this book, and at first he challenged me by saying something like this textbook was 'the best on the market for explaining financial reporting and the clearest' regarding UK accounting methods anyway. And then a week later he said that he went through it and he found things that were unclear to read through and such, and he's been an accountant for most of his career.
So to this particular book I say a big 'Whatever!'. Students in my class and my teacher said that they saw typos, including some calculation typos in this book. I hope that these mistakes will go over well when I apply this whole thing in real life! LOL
The 'Progress Points' and a couple of other examples were a good idea, and the book breaks down and summarises the IAS rules very well but if I'm not a CFO of BP, Exxon, etc. or one of the heads at PwC, then I need more!
And again no answers in the back of this thing? What the.....?