Table of Content

1. Accounting: The Language of Business
2. Measuring Income to Assess Performance
3. Recording Transactions
4. Accrual Accounting and Financial Statements
5. Statement of Cash Flows
6. Accounting for Sales
7. Inventories and Cost of Goods Sold
8. Long-Lived Assets and Depreciation
9. Liabilities and Interest
10. Stockholder's Equity
11. Intercorporate Investments and Consolidations
12. Financial Statement Analysis

Salient Features

• Focus on analysis of financial statements. Ratios introduced early and often, special “Portfolio” section provides a “road map” to financial statement analysis, and special section in end-of-chapter problems focuses on analyzing financial statements (using Starbucks financial statements).
• Statement of Cash Flows covered in Chapter 5, not later in text. This is an essential financial statement, one of growing importance, so students should regard it as a basic statement, not something introduces later (if at all) in the course.
• Thorough (and expanded) ethics coverage, both in Chapter 1 where it is introduced and throughout all chapters of the book. Begins to emphasize the importance of ethics in accounting and in business early for students.