Financial Reporting and Analysis

Financial Reporting & Analysis (FR&A) by Revsine/Collins/Johnson/Mittelstaedt emphasizes both the process of financial reporting and the analysis of financial statements. This book employs a true "user" perspective by discussing the contracting and decision implications of accounting and this helps readers understand why accounting choices matter and to whom. Revsine, Collins, Johnson, and Mittelstaedt train their readers to be good financial detectives, able to read, use, and interpret the statements and-most importantly understand how and why managers can utilize the flexibility in GAAP to manipulate the numbers for their own purposes. Significantly, the new edition emphasizes the differences and similarities between GAAP and IFRS, which is a critical component of this course.

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)