Introduction to Accounting: A User Perspective

This introduction to accounting and its significant role in making sound business decisions trains readers in becoming wise users, not necessarily preparers of accounting information—a strong user-based approach that's endorsed and supported by the AECC. The authors present accounting information in a broader business context—emphasizing what accounting information is, why it is important, and how it is used to make strategic economic decisions—but still include traditional debit/credit information as optional coverage. Discussions include Introduction To Business In The United States; Economic Decision Making; The Balance Sheet: Initial Financing—Investment by Owners; The Balance Sheet (Continued): Additional Financing—Borrowing from Others; Income Statement and Statement of Owners' Equity; Keeping Score: Bases of Economic Measurement; Accumulating Accounting Data; Challenging Issues Under Accrual Accounting: Long-Lived Depreciable Assets; Challenging Issues Under Accrual Accounting: Merchandise Inventory and Cost of Goods Sold; The Balance Sheet and Income Statement: A Closer Look; The Statement of Cash Flows: Bringing the Focus Back to Cash; Financial Statement Analysis; Management Accounting: It's Environment and Future; Classifying Costs; Determining Costs of Products; Cost Behavior; Business Decisions Using Cost Behavior; Making Decisions Using Relevant Information; The Capital Budget: Evaluating Capital Expenditures; The Operating Budget; Standard Costing; and Evaluating Performance. For practicing office professionals, accounting clerks and paraprofessionals, and staff accountants.