If you read the 'business pages' of a newspaper or if you listen to the financial news on television or radio, you will often hear terms such as 'liability', 'balance sheet' or 'earnings'. These terms turn up in non-financial contexts as well: 'he was more of a liability than an asset'. If you invest in shares, manage your family's personal finances, or sit on a committee of the property...
Christopher Nobes is Professor of Accounting at Royal Holloway College, University of London. He is also Professor of Accounting at the University of Sydney and Adjunct Professor of Accounting at the Norwegian Business School. He has written several popular works in the area of accounting including Pocket Accounting: The Essentials of Accounting from A to Z and the Dictionary of Accounting.
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