Financial Accounting 3e: Lim Wan Leng, Morni Hayati Jaafar Sidik, Lee Kwee Fah, Noreen Kong Ching Ching, Rahizah Abd Rahim, Chin Wai Yin and Lai Siew Fong (2021)
Financial Accounting 3e: Lim Wan Leng, Morni Hayati Jaafar Sidik, Lee Kwee Fah, Noreen Kong Ching Ching, Rahizah Abd Rahim, Chin Wai Yin and Lai Siew Fong (2021)

This fundamental financial accounting book is prepared for the benefit of students undertaking Accounting or Business related courses at the tertiary level. The principles and concepts of financial accounting are presented in an orderly manner with a good mix of illustrations and comprehensive examples to encourage meaningful learning experience. In addition, students are able to reinforce what they have learnt through review questions and application exercises at the end of each chapter.

Key features

  • Intended for students in Foundation, Diploma and first-year Degree courses
  • Provides step-by-step explanations through the use of worked examples to enhance understanding
  • Closes each chapter with review questions and application exercises to help assess students’ comprehension of topics
  • Highlights key terms and offer useful study tips as margin notes for quick review

New to This Edition

  • Three revised chapters: Accruals and Prepayments, Accounting for Inventory and Accounting in Digital Age
  • New and revised end-of-chapter exercises

ISBN 978-967-15997-5-4    (2021) – Contents in 4-colour

About the Authors

Dr Lim Wan Leng

Dr Lim Wan Leng is currently working as an Assistant Professor in the Department of Accountancy at Universiti Tunku Abdul Rahman. She has more than 23 years of teaching experience in the tertiary education. She lectures the undergraduate and MBA students in the field of financial and management accounting. She is also a facilitator for the ACCA Strategic Professional module – Strategic Business Reporting (SBR). Before joining the education field, she has worked eight years in a property management company. 

Dr. Lim is a certified HRDF trainer and has conducted a series of workshops on areas related to accounting and business. She is a member of the Malaysian Institute of Accountants (MIA) and ASEAN Chartered Professional Accountant (ASEAN CPA); is active in the MIA-Care programme and is also a MIA Appointee to the Council of Malaysian Association of Accounting Administrators. She engages in academic researches and supervises MBA and Phd candidates.

Dr Morni Hayati Jaafar Sidik

Dr Morni Hayati Jaafar Sidik is a senior lecturer with UniKL Business School, Universiti Kuala Lumpur. She obtained her PhD (Accountancy) and Master of Science (Finance) from Universiti Putra Malaysia. She graduated with bachelor’s degree in Accounting & Finance from Manchester Metropolitan University, United Kingdom. She also holds a Professional Certificate in Islamic Finance Professional (PCIF) from International Centre for Islamic Finance Education (INCEIF) and Islamic Financial Planner from Islamic Banking & Finance Institute Malaysia (IBFIM).

She is a member of Malaysian Institute of Accountants (MIA) and Financial Planning Association Malaysia (FPAM). She started her career in the area of taxation with a medium-sized consultancy firm. She left the firm and joined the academia world since 1998. As an academia, her research interests are in the field of financial reporting, corporate governance, ethics, corporate social responsibility (CSR), taxation and Islamic financial planning. She has published several papers both in journal articles, book chapters, newspaper and professional accountancy journal. She has also written several books in the area of Accounting and Finance. She is a certified trainer under HRDF. She has also given several talks on GST, MPERs and Basic Accounting to the general public, SMEs, and other organisations. Currently, she is one of the audit committee members for GIATMARA Malaysia.

Dr Lee Kwee Fah

Dr Lee Kwee Fah is an Assistant Professor in the Department of Accountancy, Universiti Tunku Abdul Rahman. She obtained her PhD (Business Administration) from the International Islamic University Malaysia, Master of Business Administration from the University of Newcastle, Australia, and Bachelor of Management (Accounting and Finance) from Universiti Sains Malaysia. Dr Lee has been teaching business and financial accounting at the current university for more than 12 years. Prior to switching career to the academic field, she has worked in the marketing sector for more than a decade, involving Product and Brand Management of a wide range of pharmaceutical and consumer goods under multinational corporations.

As an academic, Dr Lee Kwee Fah has been active in consultancy and research projects such as retirement planning with the Private Pension Administrator Malaysia (PPA), green logistics and minimum wage in SMEs. She has published a number of research papers including articles in Scopus-indexed journals, book chapters and conference proceedings. Dr Lee is an editorial board member of the Advanced International Journal of Banking, Accounting and Finance. She has also been a recipient of the Elsevier Reviewer Recognition Award. Besides this, she also supervises research projects conducted by undergraduate and postgraduate students.

Noreen Kong Ching Ching

Noreen Kong Ching Ching started her teaching career in 2002 with Segi University (known as Systematic College back then) and joined Universiti Tunku Abdul Rahman (UTAR) in 2005 till 2015. Her teaching profile includes Management Accounting, Financial Accounting and Accounting Information Systems. When she left UTAR in 2015, she was the head of accounting department leading a team of nearly 30 lecturers.

She is currently Head of Continue Professional Development in Malaysian Institute of Certified Public Accountant (MICPA). Her current responsibilities include identifying training area or gap to upskill and reskill the professional, source for expert in the field and to organise training for the members and public. She is a certified HRDF trainer and a certified trainer for Data Citizen Powered by Apache.

Rahizah Abd Rahim
Rahizah Abd Rahim obtained her Master of Business Administration from Universiti Kebangsaan Malaysia and Bachelor of Accounting and Finance (Hons) from Manchester Metropolitan University, United Kingdom. She is a member of Malaysian Institute of Accountants (MIA). Upon graduation in 1996, she started her career as an executive in large stock broking firm doing daily operations. After completing her MBA, she joined the academia world in 2003. As an academician, her research interests were in the field of corporate social responsibility (CSR) and financial reporting. She had published few papers in journal articles. She has also written several books in the area of Accounting and Finance. Being an academician, she had also taught several financial accounting and corporate reporting subjects. Her last post as an academician was as lecturer with Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman. Besides taking care of her family, she is currently involves with several community service. She founded Projek Infaq in 2015 which is active in helping the poor and homeless at her local community.
Ms Chin Wai Yin
Ms Chin Wai Yin is a lecturer in the Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman. She has more than ten years of experience in teaching in the area of Information Systems, Accounting Information Systems, Managing Information Systems and E-commerce. She holds a Master degree in Commerce from New South Wales University (UNSW) and a Bachelor of Business from University of Technology, Sydney (UTS). She is a certified trainer for Alibaba e-commerce platform.
Ms Lai Siew Fong
Ms Lai Siew Fong is currently working as a Specialist in the Department of Accountancy, teaching financial accounting and management accounting, at Universiti Tunku Abdul Rahman. She is a member of the Malaysian Institute of Accountants (MIA) and ASEAN Chartered Professional Accountant (ASEAN CPA). She is also a Fellow member of the Association of Chartered Certified Accountants (ACCA). Before her career as an academician, she worked as a senior finance manager in an engineering company responsible for directions and strategies setting, risk management, treasury management, budgetary setting and control, domestic inquiries, financial and management reporting and continuous quality improvement. She has successfully led the team in winning the Nafma (National Award for Management Accounting) Best Practice Award, Nafma Practice Solution Award, Nafma SME Star Award and MPC Productivity Award. She has also worked with a broad range of companies in the medicine, automotive, and banking industries.

Table of Contents

Chapter 1: Introduction to Accounting 

Chapter 2: Recording the Accounting Information 

Chapter 3: Bad Debts, Provision for Doubtful Debts and Provision for Cash Discounts

Chapter 4: Accruals and Prepayments

Chapter 5: Accounting for Non-current Assets

Chapter 6: Control Accounts

Chapter 7: Errors and Suspense Account 

Chapter 8: Bank Reconciliation Statements 

Chapter 9: Single Entry and Incomplete Record

Chapter 10: Accounting for Inventory

Chapter 11: Final Accounts With Adjustments

Chapter 12: Manufacturing Account

Chapter 13: Introduction to Cost and Management Accounting

Chapter 14: Accounting in Digital Age

Instructors Supplements

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