Financial Accounting in an Economic Context. This item is unavailable.Financial Accounting in an Economic Context

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.

Smart decisions start here

The formula for successful management is simple: attract capital at the lowest possible cost, and invest it in projects where the return exceeds the cost. But making the right decisions isn’t easy. You need to understand economic factors, measurement issues, and the mechanics of financial accounting.

That’s why Jamie Pratt’s trend–setting text approaches financial accounting from an economic, decision–making perspective. This approach equips you with the financial accounting knowledge and tools you need to make smart decisions.

Here’s how Pratt’s economic, decision–making approach works:

1. Take a close look at the economic environment.

You can’t understand financial accounting without an understanding of today’s economic environment. Financial Accounting in an Economic Context, Sixth Edition includes frequent references to actual events and real companies, provocative quotes from well–known business publications and annual reports, and pertinent information about current industry practices.

2. Explore key measurement issues.

The text explores the conceptual and theoretical foundation of financial accounting measurement. This foundation will help you interpret financial statements and use them in a meaningful way.

3. Understand the mechanics of financial accounting.

You’ll learn about the mechanics underlying financial statements, so you can use financial accounting information effectively. The text approaches journal entries and T–accounts as an efficient way to communicate how economic events are reflected on the financial statements. You’ll also learn how to infer transactions from the financial statements using reverse T–account analysis.