This book is brilliant when it comes to all the accounting procedures and explanations but lacks a certain analytical dimension. In my view this book is better than my friends newer version simply because it has bigger more spaced out pages, better diagram type explanations and examples. As far as I understand, the accounts formats have not changed too much between this and the newer book. Its simpler to understand this version and especially if English is your second language, the wordings are easier. The on line support is great and I think makes up quite well for being an older book.