Fundamental Financial Accounting Concepts

The fourth edition of Fundamental Financial Accounting Concepts continues to be a conceptually based, user-oriented book that stresses meaningful learning over rote memorization. More specifically, the text focuses on the relationships between business events and financial statements. The primary objective is to develop students who can explain how any given business event will affect the income statement, balance sheet, and statement of cash flows. Did the event cause assets to increase, decrease, or stay the same? Similarly, what was its effect on liabilities, equity, revenue, expense, gains, losses, net income, and dividends? Furthermore, how did the event affect cash flows? These are the big picture relationships that both accounting majors and general business students need to understand to function effectively in the business world