Synopses & Reviews
Porter and Norton's real-world approach in FINANCIAL ACCOUNTING: THE IMPACT ON DECISION MAKERS, Sixth Edition, gives you an up-close perspective on how accounting truly affects businesses today. You will explore an appropriate "focus company" with each chapter, applying accounting principles in the context of that company's specific financial information and business strategy, giving you the real-world experience with financial data you need to succeed in business. Further, Porter and Norton's student-friendly, step-by-step decision framework guides you through a 6-step process on how to effectively use financial information early in the course, laying a stronger foundation for the more complex concepts to follow. FINANCIAL ACCOUNTING: THE IMPACT ON DECISION MAKERS, Sixth Edition, goes beyond typical texts that drill students on the numbers and procedures to address additional important issues, such as ethical dilemmas in business decisions and alternate terms you may encounter in the business world.
"Introductory accounting students are often overwhelmed and need assistance in understanding major topics of importance. POD Reviews help students understand what is most vital in the chapter information."
"POD Reviews will help students with test preparation. Quizzing at regular intervals should lead to better exam performance."
"The POD Reviews are an excellent idea. Placing them after every learning objective creates immediate feedback and affirmation of their understanding."
The Fourth Edition of Financial Accounting: The Impact on Decision Makers holds true to the original vision of teaching accounting from both the preparer and user perspective, but with an expanded focus on showing the learner a "Roadmap to Success." To lead one to a full understanding of the impact of financial statements on business decision-making, the authors use the financial statements from Winnebago Industries throughout. Relying on the text's trademark innovative pedagogy, instructors can prepare business majors and accounting majors alike for future business success.
Porter/Norton is a transitional text known for its readability, straightforwardness, decision-making focus, and the incorporation of flagship companies. The authors were careful in the new fifth edition to keep the focus on "the basics". The authors have eliminated confusing and redundant elements. The result is an uncluttered, straightforward, and concise financial accounting textbook.
About the Author
Gary A. Porter earned M.B.A. and Ph.D. degrees from the University of Colorado. A recently retired professor of accounting, Dr. Porter taught at several universities, including San Diego State and the University of Montana, and also served as department chair. Widely published and the recipient of numerous teaching awards, Dr. Porter has conducted workshops in the field, has worked as a staff accountant with Deloitte & Touche, and has actively served the Illinois CPA Society, American Accounting Association, and Financial Executives International. Curtis L. Norton received his Ph.D. from Arizona State University and an M.B.A. from the University of South Dakota. Professor of Accounting at Northern Illinois University for more than 30 years, Dr. Norton earned the University Excellence Teaching Award and has published in The Journal of Accounting Education, CPA Review, and other journals. A member of the American Accounting Association and Financial Executives International, he also consults and conducts training for private and governmental authorities, banks, utilities, and others.
Table of Contents
Introduction & Getting Started in Business. 1. Accounting as a Form of Communication. 2. Financial Statements and the Annual Report. 3. Processing Accounting Information. 4. Income Measurement and Accrual Accounting. 5. Inventories and Cost of Goods Sold. 6. Cash and Internal Control. 7. Investments and Receivables. 8. Operating Assets: Property, Plant, and Equipment, Natural Resources, and Intangibles. 9. Current Liabilities, Contingencies, and the Time Value of Money. 10. Long-Term Liabilities. 11. Stockholders' Equity. 12. The Statement of Cash Flows. 13. Financial Statement Analysis. Appendix: Life Time Fitness 2004 Annual Report. Glossary. Index.