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The eleventh edition of FINANCIAL ACCOUNTING guides students through the what, why and how of accounting in today's business world. This textbook offers a solid presentation of concepts and procedures blended with a wealth of real company examples and solved exercises to ensure student success in the practical application of fundamental financial accounting principles. Students will learn to effectively use and prepare financial accounting information for decision making with various features that encourage critical thinking, highlight ethical considerations, and consider global implications. Emphasizing the relevancy of accounting to the business world, this edition is perfect for any student, regardless of future career plans or goals.
New edition of a textbook that blends procedure and concepts in order to connect financial accounting principles to the real-life business world. With a focus on global economy and ethics, Albrecht, James D. Stice, Earl K. Stice, and K. Fred Skousen (all of Brigham Young U.) present 13 chapters that discuss financial reporting and the accounting cycle, operating activities, investing and financing activities, and other dimensions of financial reporting. Each chapter contains learning objectives, real-life scenarios, business environment essays, key terms, summaries, cumulative spreadsheet projects, and comprehensive problems. The included CD-ROM provides insights on how to use the principles set forth in the text. Annotation c. Book News, Inc., Portland, OR (booknews.com)
W. Steve Albrecht is the Andersen Alumni Professor of Accountancy in the Marriott School of Management at Brigham Young University. He received a bachelor's degree in accounting from BYU and MBA and PhD degrees from the University of Wisconsin. He is a Certified Public Accountant, Certified Internal Auditor, and Certified Fraud Examiner.
Earl K. Stice is the PricewaterhouseCoopers Professor of Accounting in the School of Accountancy at Brigham Young University, where he has been on the faculty since 1998. He holds bachelor's and master's degrees from Brigham Young University and a PhD from Cornell University.
James D. Stice is the Distinguished Teaching Professor in the Marriott School of Management at Brigham Young University. He is currently Associate Dean of the Marriott School. Dr. Stice served for eight years as the director of BYU's MBA Program. He holds bachelor's and master's degrees in accounting from BYU and a PhD in accounting from the University of Washington.
PART I: FINANCIAL REPORTING AND THE ACCOUNTING CYCLE. 1. Accounting Information: Users and Uses. 2. Financial Statements: An Overview. 3. The Accounting Cycle: The Mechanics of Accounting. 4. Completing the Accounting Cycle. 5. Internal Controls: Ensuring the Integrity of Financial Information. PART II: OPERATING ACTIVITIES. 6. Receivables: Selling a Product or Service. 7. Inventory and the Cost of Sales 8. Completing the Operating Cycle. PART III: INVESTING AND FINANCING ACTIVITIES. 9. Investments: Property, Plant, and Equipment and Intangible Assets. 10. Financing: Long-Term Liabilities. 11. Financing: Equity. 12. Investments: Debt and Equity Securities. PART IV: OTHER DIMENSIONS OF FINANCIAL REPORTING. 13. Statement of Cash Flows. 14. Analyzing Financial Statements.
Here's the good about the book: I used the book for my EMBA class. I have a BS in Accounting, so I found the book easy to understand. It was very good examples using real world examples of Accounting problems. Would recommend it. Here's the bad - several of my fellow students found mistakes in the computations, which really confused me and classmastes and soured my opinion of the book. Imagine that accounting textbook with computation mistakes.
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