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Overview
Financial Reporting and Analysis, Second Edition reveals the truths hidden behind the numbers and shows the pitfalls to avoid when analyzing financial statements. A focus on core topics allows readers to examine the economic and institutional setting for financial reporting, accrual accounting and income determination, structure of the balance sheet and statement of cash flows, essentials of financial statement analysis, the role of financial information in valuation and contracting, receivables, inventories, long-lived assets and depreciation, financial instruments as liabilities, financial reporting for leases, income tax reporting, pensions and postretirement benefits, financial reporting for owners' equity, intercorporate equity investments, statement of cash flows, and an overview of international financial reporting differences and inflation. For anyone whose job includes preparing and analyzing financial statements.Synopsis
Suitable for a second-level course in financial accounting, this textbook focuses on the details of the economics behind the transactions or the role of accounting in the decision-making process rather than on the details of GAAP. Specific chapters discuss the economic and institutional setting for financial reporting, accrual accounting and income determination, balance sheet structures, financial statement analysis, cash flow analysis and credit risk assessment, receivables, inventories, long-lived assets and depreciation, liabilities, leases, income tax reporting, pensions, intercorporate equity investments, and international finance reporting. The authors teach accounting at Northwestern University and the University of Iowa. Annotation c. Book News, Inc., Portland, OR (booknews.com)