This book shows readers how to understand the financial accounting process and how to interpret and use the resulting information. It explaines why particular items appear in or are omitted from financial statements, how items are valued in the financial statements, and the usefulness of reported information in a decision-making context. Readers learn to analyze rather than simply memorize.
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Integrated for users rather than preparers of accounting information. Provides students with an understanding of accounting so they can apply this information to make effective business decisions. The structure of the accounting profession and accounting regulation, formulation of accounting principles, the importance of cash flows for profit and nonprofit organizations, financial statements, international aspects of accounting, and internal reporting for management decision making are among the topics discussed. Includes a significant amount of hypothetical and authentic examples to facilitate understanding.
Use your information wisely Fully updated and revised, the Second Edition of King, Lembke, and Smith’s Financial Accounting provides the skills and knowledge needed to make wise business decisions based on real accounting information. The authors’ s user-oriented approach helps readers understand the link between accounting information and decisions. Apply What You’ve Learned with an Integrated Annual Report Project The Second Edition features a fully integrated case that offers an opportunity to examine and analyze the financial statements of a real company. You can choose a company that you are personally interested in, or select one of the companies recommended by the authors on the text’ s Web site at www.wiley.com/college/king. As specific topics are discussed throughout the text, you can use what you have learned by applying your knowledge to the financial statements of the company you have chosen. Questions at the end of each chapter relating to the project provide valuable insights into how the accounting principles are applied in practice. Online Resources will Enhance Your Studies and Career! The new Financial Accounting Web site (www.wiley.com/college/king) features a wealth of valuable on-line resources, including:
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