Description
Fully updated and revised, the sixth edition of Financial Accounting explores important concepts from an economic perspective. By focusing on three elemental themes--economic factors, measurement issues, and decision-making perspective--you will gain a better understanding of the relevance of principles as applied in the real world. Virtually every concept covered refers to a real company, a real situation, or a real event. The sixth edition: Presents a new corporate governance theme that is integrated throughout the book. Places an increased emphasis on analysis in the middle chapters. Provides new EOC materials that require readers to analyze the financial statements of real companies using a new database available on the Pratt BCS. Reflects the most current thinking in the field with the help of over 10,000 relevant references to actual events and real companies. Includes in-depth discussions of legal liability, ethical issues, and management's incentives and influence on financial reports.
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"Financial Accounting in an Economic Context has become an important part of the curriculum in many MBA programs. Grounded in financial statements, Pratt's Financial Accountinghelps students see the impact of transactions on overall business decisions. The text enables MBA students to become effective managers and decision-makers by encouraging them to develop a conceptual understanding of the impact that economic events have on a business. The newest edition on this popular text addresses topics that today's accountants and managers must consider: increased impacts of IFRS, fair value reporting, segment reporting and an earnings management framework. While addressing recent developments and maintaining the perspective of the previous editions, FinancialAccounting in an Economic Context 8th Editionoffers new elements designed to sharpen the text's economic decisions-making foundation. The text highlights the differences between IFRS and GAAP throughout each chapter. Each chapter closes with a "Issue forDiscussion" feature, allowing students to apply data found in the financial statements of an international company. New boxed-in features illustrate the effects of accounting transitions on cash flow of statements and new end of chapter items address thecash flow effects of accounting transactions"--
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