Financial Accounting Theory. (Book Reviews).(Book Review)

WILLIAM R. SCOTT, Financial Accounting Theory, Third Edition (Upper Saddle River, NJ: Prentice Hall, 2003, pp. 509, xiii).

Financial Accounting Theory, 3rd Edition, is an excellent undergraduate accounting theory text. Primarily a textbook for Canadian accounting students, it examines both Canadian and U.S. accounting standards. I highly recommend Canadian programs to adopt this text and suggest that U.S. schools also consider doing so.

This book departs from what some consider the "standard" accounting theory text. Many accounting theory texts are simply a collection of previously published academic and practitioner articles with little or no prose to unify …