Intermediate Accounting
Book Summary
This text book offers a thorough exploration of financial accounting principles for intermediate-level students. It covers key areas such as income recognition, assets, liabilities, equity, and the overall financial reporting process. The book emphasizes the conceptual framework behind accounting, helping students understand not only how to prepare financial statements but also the reasoning behind those processes. Topics like time value of money, revenue recognition, and pension accounting are discussed in detail, providing both theoretical knowledge and practical applications. Complex subjects like investments, business combinations, foreign currency transactions, and hedging are addressed with real-world examples. Additionally, the book explores income taxes, including deferred tax assets and liabilities, along with fair value accounting and the use of derivatives. The authors integrate discussions on ethical decision-making in accounting and its role in promoting transparency and integrity in financial reporting. Updated with the latest standards from FASB and IASB, the text ensures students are familiar with the most current accounting practices. The book is filled with numerous exercises, examples, and case studies to reinforce concepts and provide practical context. Students are also encouraged to engage with review questions to assess their understanding. Overall, this book is a comprehensive resource that balances theoretical foundations with practical applications, preparing students for careers in accounting and financial reporting.
ISBN’s: 9780072994025, 9780072524482
Authors
David J. Spiceland, James F. Sepe, Lawrence A. Tomassini
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