Synopses & Reviews
Porter and Norton's real-world approach in FINANCIAL ACCOUNTING: THE IMPACT ON DECISION MAKERS, 7/Ed, 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. Numerous Examples throughout the text are tied to end-of-chapter homework to allow easier completion of assignments and guided study for exams. 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, 7/e, goes beyond typical texts that drill 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. This edition includes a discussion of the current environment of financial reporting, specifically the International Financial Reporting Standards.
About the Author
Gary A. Porter earned M.B.A. and Ph.D. degrees from the University of Colorado. Dr. Porter taught at several universities, including San Diego State and the University of Montana, and also served as department chair. He is currently Distinguished Lecturer at Drake University. 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 and 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. He is currently Clinical Professor of Accounting at Arizona State University. 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 Accounting Review, The Journal of Accounting Education, CPA Journal, 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, and utilities.
Table of Contents
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. Receivables and Investments 8. Operating Assets: Property, Plant, and Equipment 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 A: International Financial Reporting Standards Appendix B: Excerpts from Kellogg's 2008 Annual Report. Appendix C: Excerpts from General Mills's 2008 Annual Report. Glossary. Index.