Peter Atrill - Accounting: An Introduction

An Introduction

Edition 8

In memory of David Harvey, loving father to Jonathan, Matthew, James and Paul.

An Introduction

Edition 8

Copyright Pearson Australia (a division of Pearson Australia Group Pty Ltd) 2021

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Authorised adaptation from the original UK editions, entitled Accounting and Finance for Non-Specialists 11th Edition (ISBN: 9781292244013) by Peter Atrill & Eddie McLaney Copyright 2019 (print and electronic), and Accounting and Finance: An Introduction 8th Edition (ISBN: 9781292088297) Copyright 2016 (print and electronic), both published by Pearson Education Limited. Licensed for sale in Australia and New Zealand only.

Eighth adaptation edition published by Pearson Australia Group Pty Ltd, Copyright 2021 by arrangement with Pearson Education Limited, United Kingdom.

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This text was in the final stages of production during the COVID-19 pandemic of 2020. Content included in this text which relates to COVID-19 and its broader impacts was correct at the time of printing.

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We feel that we want to write this forward, with great sadness, to pay tribute to our former professional colleague, co-author and dear friend, David Harvey, who died shortly before this edition of the book was published.

The three of us were, for many years, academic colleagues at Plymouth Business School, University of Plymouth, in the United Kingdom, often working very closely together on various teaching and writing projects. We always found David to be a great collaborator. He was unfailingly full of enthusiasm, always coming up with good ideas, reliable and hardworking. These attributes seemed to rub off on us. He was always good-natured and, very importantly, great fun to work with.

Just after David left Plymouth to take up a post in Australia, the two of us were given the opportunity to write the first UK edition of Accounting and Finance for Non-specialists. This book proved to be a relative success, to the extent that the publishers, Pearson, wanted to bring out an Australian version. The obvious person to adapt the book was David, who took on the task with his characteristic drive and enthusiasm. The two of us were delighted to be collaborating with David once again. There is no doubt that Davids input to the Australian version of the book, his writing skills, ideas and knowledge of the local commercial and legal scenes, did very much to enhance its reputation.

Losing David, with his dedication, integrity and good nature, leaves us both with a great sense of personal loss.

2020 has been an extraordinary year. Australia experienced the most catastrophic bush fires in decades, and regional towns in New South Wales and Victoria were severely hit. Australians could see the vivid impacts of climate change on their lives. My Australian co-author, David Harvey, was passionate about sustainability accounting issues and the accounting literacy of every student. So am I. We revamped of the eighth edition of this book with recent sustainability reporting developments, including integrated reporting and latest CSR implementation successes and failures. We also expanded the Real World examples in each chapter (e.g. the recent ban in Australia of non-reusable plastics), to help readers to bring accounting to life. In addition, we included Reflection questions and Capstone Cases for users to reflect and synthesise learning throughout the book, develop graduate capabilities, and transit into the next career stage.

It was a great privilege working with David on this edition for more than a year. David mentored me in many ways with his abundant experience, and provided valuable advice on numerous professional and personal matters. It was therefore devastating to hear of Davids sudden passing early in the year. Sadly, David is not able to see the eighth edition in print. Just typical David, his last wish was for people to donate to Cancer Research in lieu of flowers. His working ethics, generosity, empathy and optimism will forever inspire many people, including myself.

As I am working from home writing the foreword, the entire world is threatened by the COVID-19 pandemic, which is expected to have a much more profound effect on the economy than the 200809 global financial crisis. Businesses and organisations are being forced to shift to the online model, and small and medium-sized enterprises are particularly heavily impacted. Hopefully, the accounting and finance knowledge in this book can help you understand how to survive in the worst scenarios, when they unfortunately become reality, how to manage finance properly, pursue cost reduction, maintain cash flow, achieve financial targets, balance financial and social responsibilities, and strive for long-term growth.

David was looking forward to the publication of the eighth edition. The successful completion of this edition to a high quality is our tribute to his hard work and inspirational ideas.

Ling Mei Cong