Principles of Financial and Managerial Accounting

This two-volume text provides a comprehensive understanding of key financial and managerial accounting concepts. The organization of the text promotes flexibility, so instructors can reorder subject matter or alter the mix of topics to meet the needs of each individual class-without sacrificing the continuity of the course. Throughout the book, theory and practice are blended with numerous illustrations and examples to enhance student understanding. The first chapter describes the activities of a small business and demonstrates the preparation of a complete set of financial statements. These statements are prepared without the use of debits, credits, accounts, or journal entries. In later chapters, this illustration is repeated to emphasize transaction analysis and the accounting cycle after basic concepts have been explained. The text provides a broad overview of all aspects of accounting -- from the initiation of transactions to the financial statements and special reports. The text focuses on the needs, requirements, and analysis of data by financial statement users.