Financial Accounting: Tools for Business Decision Making, 7th Edition

Content Changes by Chapter

Chapter 1: Introduction to Financial Statements

• New Feature Story, on Clif Bar and its ESOP and open-book management program.
• New discussion of LLCs and S corporations, to reflect more current business practices.
• New People, Planet, and Profit Insight, on evaluating companies on social practices as well as on financial results.
• New Research Case on possible expanding role of auditors.

Chapter 2: A Further Look at Financial Statements

• Updated to reflect new conceptual framework terminology.

Chapter 3: The Accounting Information System

• Heavily revised Feature Story, now on MF Global's failure to segregate company accounts from customer accounts.
• New Ethics Insight, on Credit Suisse Group's failure to properly write down value of its securities.
• New Research Case based on Green Bay Packers' annual report publication.

Chapter 4: Accrual Accounting Concepts

• New Feature Story, on Groupon and complexity of accounting for its revenues.
• New People, Planet, and Profit Insight, on costs of disposing discarded, possibly toxic, materials.

Chapter 5: Merchandising Operations and the Multiple-Step Income Statement

• New Feature Story, on REI and its unique business model.
• New use of recent REI and Dick's Sporting Goods financial statement information.
• Revised Ethics Insight box on improving company clarity of financial disclosures by citing recent eBay's sale of Skype.
• New People, Planet, and Profit Insight, about whether PepsiCo should market green.