ESSENTIAL OF FINANCIAL ACCOUNTING LARSON K. Księgarnia

Essential of Financial Accounting
Larson Kermit

Introduces students to accounting information, how it is developed, and how it is used to make decisions about corporations and ether economic organizations. The text provides an efficient, clear presentation that Is student friendly. It supports a variety of teaching approaches and now is very supportive of those who want to emphasize decision making, critical thinking, and communication skills.

This edition incorporates several major changes. Most notable are the following:

A new Chapter 1 explains the relevance of accounting to business decisions and to the future careers of business students. The chapter describes the role of accounting in the context of other organizational functions such as finance, human resources, research and development, production, marketing, and executive management. It also explains the work accountants do, their certifications, and the pervasive importance of ethics in accounting.

Corporations are now used in the illustrations and examples throughout the early chapters of the book. Students will find the presentation easy to understand and it is responsive to the requests of many adopters. The text consistently places the student reader in the role of an information user. Thus, selected procedural matters such as the work sheet have been minimized or removed from the body of specific chapters. (Appropriate work sheet coverage is provided in an appendix.)

The chapter on merchandising operations has been completely rewritten to focus on perpetual inventory systems. This change reflects the increasing use of perpetual systems. It also shows students more clearly how accounting deals with both the cost and revenue aspects of sales transactions.

Chapter 9 includes a new explanation of periodic inventories with a transaction-by-transaction comparison to perpetual systems.

Chapter 13 contains new material that describes the differences between "C" corporations, "S" corporations, limited liability companies, partnerships, proprietorships, limited partnerships, and limited liability partnerships. New Progress Check questions are spaced appropriately throughout each chapter with answers provided at the end of the chapter. These review questions get students to stop momentarily and reflect on whether they should spend more time studying a given section of the text before moving on. A new Quick Study category of five-minute exercises is provided after each chapter. Instructors confirm an increasing reliance on shorter problem material for uses in-class illustrations as well as homework assignments. Undoubtedly, the prospect of solving problems in a short time and the rapid feedback of having done so successfully are motivating factors that lead students to extend their study efforts. We provide at least one Quick Study exercise for each learning objective.

A selected number of problems and alternate problems now have requirements that are separated into a Preparation Component and an Analysis Component. The analysis component typically requires students to consider the financial statement effects of alternative situations and present their analysis in the form of an essay.

Each chapter includes a new category of assignments under the heading Critical Thinking: Essays, Problems, and Cases. Chapter 10 include:

Analytical Essays.

Business Communication Cases.

Financial Reporting Problems.

Financial Statement Analysis Cases.

Managerial Decision Cases.

Managerial Analysis Problems.

Ethical Issues Essays.

A new Concept Tester question, designed as a crossword puzzle, is provided at the end of many chapters. These puzzles motivate students to learn the meaning of the glossary terms and are supported by the working papers.

A new opening scenario for each chapter draws on the facts of a real company to identify some of the analysis and decision questions addressed in the chapter. Later in the chapter, one or more references show how the ideas being explained at that point apply to the company that was described in the chapter opening.

The entire text reflects a dramatically expanded emphasis on real-world examples that have been carefully selected and integrated into the discussion. Most of these references are accompanied by photos that draw attention to the nature of the business or the specific company used as the example.

The book has been carefully redesigned to generate student interest and yet provide a basis for pricing the text in a manner that is responsive to increasing student concerns with the high cost of textbooks.

Several features of this text warrant special consideration in your adoption decision. These include the following:

In every chapter, the book is now written so that students learn and practice how to use accounting information in making decisions. This shift in focus has been accomplished while maintaining the appropriate goal of showing students how the information is developed. Too often, the importance of this understanding to managers and other nonaccountant decision makers has been overlooked or dismissed. By gaining an introductory understanding of the processes by which accounting information and reports are generated, future decision makers learn the limits of accounting information. They learn to avoid overstating or misinterpreting the information. Thus, they are less apt to confuse such things as book values and market values, accumulated depreciation and spendable funds, or net income and cash inflows.

An increasing number of companies routinely convert their receivables into cash without waiting to receive customer payments. In dealing with this modem business practice, this text replaces the traditional discussion of discounting notes receivable with a more general examination of the various ways businesses convert receivables into cash.

Streamlined discussions provide clear treatment of topics such as lower of cost or market, retail inventory methods, accelerated depreciation, MACRS, and leases. The text has a uniquely balanced set of asset chapters. In particular, the coverage of Chapter 11 is notable. It completes the asset coverage by discussing natural resources, intangible assets, and long-term investments. The long-term investments portion naturally concludes with a discussion of investments in international operations. Instructors and reviewers have uniformly called for a new commitment to show students the relevance of accounting information and to teach them how to use the information. The text responds to this in a variety of ways. Most obviously, each chapter includes a section under the general heading Using the Information. These sections show students how to calculate, interpret, and use information. In addition, a large number of the assignments require students to analyse and/or interpret the financial statement consequences of various transactions or events. A complete set of Alternate Problems is published in a separate booklet that is available in quantity to adopters.

A variety of assignments in each chapter introduce students to the complete financial statements with footnotes and related disclosures for two companies in different industries. Southwest Airlines Co. and Lands' End, Inc. Mark-to-market accounting is a major break from the tradition of historical cost accounting. As a result, the text reflects a special effort to clearly explain it in the contexts of short-term investments, long-term investments, and alternative valuation models.

Recommended for The Chartered Financial Analyst/CFA/ Exam

744 pages

Po otrzymaniu zamówienia poinformujemy,
czy wybrany tytuł polskojęzyczny lub anglojęzyczny jest aktualnie na półce księgarni.