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Editor's Note: Books for review should be sent to Alan Reinstein, Department of Accounting, School of Business Administration, Wayne State University, Detroit, Ml 48202. The policy of Issues in Accounting Education is to publish only those reviews solicited by the Book Reviews Editor. Unsolicited reviews will not be accepted. WILLIAM R. SCOTT, Financial Accounting Theory, Third Edition (Toronto, Canada: Prentice Hall, 2003, pp. iii, 509).
This book grew out of a series of lecture notes on financial accounting theory for the Certified General Accountants' Association of Canada. Financial Accounting Theory is designed for upperlevel undergraduate accounting majors or graduate business students who already have a thorough grounding in accounting practice and basic economic and financial theory. It serves this purpose well.
While containing much information on accounting theory, the book is not designed as a "cookbook" that instructors should rigidly follow. Rather, it should be used as a starting point from which the instructor can emphasize particular points....