The new edition of this established text has been brought up-to-date with the latest standards issued by the ASB, including the revised cashflow statement FRS 1 and FRS 8 Related Party Disclosures. It covers the entire range of standards currently in force in the UK. It is essentially a tutorial workbook and self-learning guide that is designed to be used alongside a textbook (such as Advanced Financial Accounting by Lewis and Pendrill) and the standards themselves. A summary of the accounting treatment of each standard is given, followed by a discussion of interpretation problems and tricky 'grey areas'.