Financial Accounting

Financial Accounting, 11th Edition, provides students with a clear understanding of financial accounting by framing accounting processes in the context of real-world business practices. Concepts are presented in an engaging story-telling approach and help answer key questions such as "why, what, and how" financial accounting connects to business success. By building a solid foundation in the mechanics of preparing and analyzing financial statements, performance measurement (Return on Equity), and decision-making with the help of data analytics, Financial Accounting, 11th Edition helps students better prepare to be effective and successful business professionals.

Part 1: An Overview of Financial Accounting 1 1 Financial Accounting and Its Economic Context 2 2 A Closer Look at the Financial Statements 31 Part 2: Measurement, Mechanics, and Use of Financial Statements 75 3 The Measurement Fundamentals of Financial Accounting 76 4 The Mechanics of Financial Accounting 111 5 Using Financial Statement Information 173 Part 3: Assets: A Closer Look 231 6 The Current Asset Classification, Cash, and Accounts Receivable 232 7 Merchandise Inventory 271 8 Investments in Equity Securities 313 9 Long-Lived Assets 357 Part 4: Liabilities and Shareholders’ Equity: A Closer Look 401 10 Introduction to Liabilities: Economic Consequences, Current Liabilities, and Contingencies 402 11 Long-Term Liabilities: Notes, Bonds, and Leases 444 12 Shareholders’ Equity 492 13 The Complete Income Statement 542 14 The Statement of Cash Flows 578 Appendix A The Time Value of Money 633 Appendix B Predictive Data Analytics and Financial Accounting 661 Appendix C Quality of Earnings Cases: A Comprehensive Review 667 Glossary 698 Index 729