Accounting is a systematic process of gathering, analysing, recording, reporting, and interpreting financial information to support informed business decision-making. In an increasingly complex and dynamic business environment, accounting remains a foundational discipline that underpins effective organisational performance and financial accountability.

Basic accounting for non-accountants is an accessible introductory text that integrates financial accounting, cost and management accounting, and financial management. The book is designed to develop practical financial literacy, equipping students with essential skills applicable in both personal and professional contexts.

This new edition has been substantially updated and refined to enhance clarity, relevance, and student engagement. It places strong emphasis on realistic, South African-contextualised case studies, exercises, and numerical illustrations, using locally relevant figures and scenarios to support ease of understanding and practical application. Concepts are presented through clear, step-by-step illustrative examples, supported by self-test questions and fully worked solutions to ensure mastery before progressing to end of-chapter exercises. Content has been updated to reflect current accounting standards, legislative requirements, and the contemporary South African accounting environment.

Key topics covered include:

• Preparation of basic financial statements
• Interpretation of financial statements using ratio analysis
• Value-added tax (VAT)
• Product costing
• Budget preparation
• Short-term decision-making
• Variance analysis
• Time value of money
• Capital budgeting

Melanie Cloete and Ferina Marimuthu are experienced academics in accounting and higher education, with nearly three decades of teaching, curriculum development, and scholarship at the Durban University of Technology (KwaZulu-Natal).