Introduction to Financial Accounting (7th Edition)

For one-term courses in Financial Accounting at the undergraduate and graduate levels. This best-selling text offers a relevant, real-world approach to financial accounting theory, terminology, and procedures. Students learn how to comprehend a typical corporate annual report and to use accounting as a tool in understanding how economic events affect business. An exceptionally strong pedagogy and supplements package and flexible structure provide instructors with great latitude in choosing various combinations of breadth and depth, theory and procedures, simplicity and complexity.

Using an open, attractive, four-color design and user-friendly writing style, this best-selling volume offers a relevant, real-world approach to financial accounting theory, terminology, and procedures. Readers learn how to comprehend a typical corporate annual report and to use accounting as a tool in understanding how economic events affect business. Describes the most widely used accounting theory and practice -- with emphasis on what accounting is rather than on what it should be. Introduces accounting and business concepts along with accounting procedures. Features real-world, chapter-opening vignettes and numerous real-company examples and stories throughout. Provides the complete Annual Report of GAP, Inc. -- both in its original form (shrink-wrapped to the book) and reproduced fully in Appendix A of the text -- and refers to the information in the Report throughout the book. Provides financial accounting Internet resources. For those interested in an accessible, solid, comprehensive introduction to financial accounting.