Almost every qualification offered at tertiary institutions requires students to have basic accounting knowledge, yet few if any textbooks cater for those who have not done accounting as a matric subject. Practical accounting is therefore written for non-accounting students who need to gain the skills to comprehend accounting transactions and interpret financial statements. Practical accounting has integrated topics in financial accounting and cost accounting, providing a broad overview that ranges from an introduction to fundamental principles to the preparation, analysis and interpretation of financial statements. The chapters are presented in an easily understandable format and have been structured to suit the new programmes of non-accounting students in the various universities and universities of technology in South Africa. There are many practical examples and self-assessment questions that will help students to master the basics of accounting.