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)