- Paperback: 824 pages
- Publisher: John Wiley & Sons; 8th Edition International Student Version edition (19 April 2011)
- Language Unknown
- ISBN-10: 0470646365
- ISBN-13: 978-0470646366
- Product Dimensions: 21.1 x 3.3 x 25.8 cm
- Amazon Bestsellers Rank: 1,848,675 in Books (See Top 100 in Books)
- See Complete Table of Contents
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Product Description
Product Description
Grounded in financial statements, Financial Accounting allows accountants to see not only the impact of financial transactions in financial statements, but also the impact of transactions on overall business decisions. The eighth edition offers new elements designed to sharpen Pratt’s economic decision–making foundation with a more timely, real–world focus. Up–to–date, expanded, and detailed IFRS coverage is now included. The SEC 2014 roadmap is explored in all chapters. Comprehensive coverage of real–world financial crisis issues is presented. Accountants will also find more discussions on the increasing role of management’s assessment of internal controls over financial reporting.
From the Back Cover
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. --This text refers to an out of print or unavailable edition of this title.
Inside This Book
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First Sentence
The following key points are emphasized in this chapter: The economic role of financial accounting statements. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
The following key points are emphasized in this chapter: The economic role of financial accounting statements. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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15 reviews
14 of 18 people found the following review helpful
Not even an answer key to the exercises
8 Mar 2003
Format:Hardcover
The book is easy to understand, but there should be a solutions manual, or at least an answer key to the exercises. It has been very difficult for me to "learn the mechanics" and "apply the concepts" at the end of each chapter. The pace of the course allows the teacher to solve only 2 or 3 exercises in class, and the book certainly does not make selfstudy easy. Needless to say, that you can't learn financial accounting just by reading. To makes things even worse, a study guide, which does not refer to the same exercises in the book, is out of print.
8 of 10 people found the following review helpful
Good book for non-accountants
10 Nov 2008
Format:Hardcover|Amazon Verified Purchase
Back in the early 90's I took Professor Pratt's class when he was on loan to the Kellogg School of Business at Northwestern. His book had not yet been published but he gave all of us copies of the manuscript for the course. So..I needed to replace that version since it had long since fallen apart. This book is great for non-accountants who wish to enhance their understanding of annual reports and interpretation skills. As anyone who has glanced through an annual report can attest, they are not terribly straightforward in identifying changes in the financial status of a company that are less than flattering. They tend to 'accentuate the positive.' Jamie Pratt teaches how to see through these reports to more accurately assess a company's financial condition. Don't expect to be spoon fed by reading this book. Like any complex system, becoming proficient requires study and understanding of fundamental concepts. If you are willing to commit some time, this book will provide the necessary tools.
4 of 5 people found the following review helpful
Not enough student resources
17 May 2009
Format:Hardcover
There are no answers provided for any exercises. No online help either like most modern textbooks. YOu have an option to pay more money to get the study guide. This book is simply a tool to rack up more money, not to help students.
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