Financial Accounting in an Economic Context, 9th Edition

Preface

Financial Accounting in an Economic Context continues to be a trendsetting textbook in the area of introductory financial reporting and analysis. Since the publication of the first edition in 1989, this text has become an important part of the curriculum at a large and impressive group of forward-thinking schools. The ninth edition continues to build on the strengths of previous editions, while it introduces new ideas and refinements that better communicate the book’s economic decision-making theme.

KEEPING STUDENTS UP TO DATE

The ninth edition has retained and improved upon the popular features developed in prior editions. In addition to updating virtually all of the hundreds of real-world references, we briefly discuss below some of the key and very recent features. For the most part, however, this ninth edition maintains the same style and content of the eighth edition, which was very well received by a wide variety of universities, colleges, and other institutions.

Globalization of Business and Financial Reporting Standards Business is becoming more global with each passing day, and International Financial Reporting Standards (IFRS) are used throughout the world, including in the United States. While the ninth edition still is based on U.S. GAAP, IFRS standards and concepts are woven throughout the entire text. Starting with Chapter 1, IFRS is included in our definition ...