Synopses & Reviews
Continuing the emphasis from the last edition on the use of accounting information by business owners, lenders, managers, and others, this edition incorporates additional enhancements intended to offer an even more accessible text. Technical detail has been reduced, especially with regard to topics better suited for the course in intermediate accounting. All enhancements made to this edition are the result of extensive market feedback, and fall within three key categories: 1) Pedagogical Improvements feature real company chapter openers, additional opportunities for analyzing financial statements, and an increased emphasis on critical thinking and communication skills, 2) The Use of the Corporate Approach, 3) A shift toward the use of perpetual inventory for chapters 5 and 9. In addition, EFA is one of the lowest priced texts on the market.
About the Author
Kermit D. Larson is the Arthur Andersen and Co. Alumni Professor of Accounting Emeritus at the University of Texas at Austin. He served as chairman of the U.T. Department of Accounting and was Visiting Associate Professor at Tulane University. His scholarly articles have been published in a variety of journals, including The Accounting Review, Journal of Accountancy, and Abacus. He is the author of several books, including FINANCIAL ACCOUNTING, and FUNDAMENTALS OF FINANCIAL AND MANAGERIAL ACCOUNTING, both published by Richard D. Irwin, Inc.Professor Larson is a member of The American Accounting Association, the Texas Society of CPAs and the American Institute of CPAs. His activities with the AAA involved service as Vice President, as Southwest Regional Vice President, and as chairperson of several committees, including the Committee of Concepts and Standards. He was a member of the committee that planned the first AAA Doctoral Consortium and served as its Director.Professor Larson served as President of the Richard D. Irwin Foundation. His other activities have included serving on the Accounting Accreditation Committee and on the Accounting Standards Committee of the AACSB. He has been an expert witness on cases involving mergers, antitrust litigation, consolidation criteria, franchise taxes and expropriation of assets by foreign governments.
Table of Contents
1. Accounting in Business Organizations and Society2. Financial Statements and Accounting Principles3. Recording Transactions4. Adjusting the Accounts and Preparing the StatementsAppendix A. Work Sheets and Reversing Entries5. Concluding the Accounting Cycle and Expanding the Balance Sheet6. Accounting for Merchandising Activities7. Accounting for Cash8. Short Term Investments and Receivables9. Inventories and Cost of Goods Sold10. Plant and Equipment11. Natural Resources, Intangible Assets, and Long Term Investments12. Current and Long Term Liabilities13. Installment Notes Payable and Bonds14. Corporations, Proprietorships, and Partnerships15. Additional Corporate Transactions; Reporting Income and Retained Earnings; Earnings Per Share16. Reporting and Using Cash Flows in Decision Making17. Analyzing Financial StatementsAppendix B. Accounting Principles, the FASB's Conceptual Framework, and Alternative Valuation MethodsAppendix C. Special JournalsAppendix D. Present and Future Values: An ExpansionAppendix E. Southwest Airlines Co. 1994 Financial Statements with FootnotesAppendix F. Lands' End, Inc. 1995 Financial Statements with Footnotes