Intermediate Accounting, Fourth Edition, Vol. 2

The mission of this text is to present critical concepts in a clear, concise way that is most helpful to learning and enhancing the student's interest. Rather than emphasizing rote learning of rules and regulations, the authors underscore how important it is for users and preparers of financial statements to understand accounting principles and how they are applied in financial reporting decisions. The text presents GAAP as the current solution to a continually evolving host of financial reporting questions. By acquainting students with the political nature of standard setting, the reader becomes aware that both users and preparers are affected by the outcome of the standard setting process.