By Belverd E. Needles, Marian Powers, Susan V. Crosson

ISBN-10: 0538755164

ISBN-13: 9780538755160

Needles/Powers/Crosson gives you interactive pedagogy via illustrating accounting rules and real-world examples to motivate severe pondering. This revision is predicated on an figuring out of the character, tradition, and motivations of contemporary scholars and on vast suggestions from teachers. those huge adjustments meet the wishes of scholars, who not just face a enterprise global more and more complex through moral concerns, globalization, and expertise but in addition have extra calls for on their time. to assist them meet those demanding situations, this textbook indicates scholars how enterprise transactions, that are the results of company judgements, are recorded in the way to exhibit their results at the monetary statements. outfitted on traditionally robust pedagogy, this version demonstrates bolstered transaction research and its hyperlink to the accounting cycle. confirmed Presentation: scholars examine from a relied on procedure outfitted on right accounting rules and technical element to make sure mastery of middle accounting strategies. correct insurance: Chapter-opening choice issues were more suitable to show scholars to the altering monetary reporting atmosphere and IFRS. Critical-Thinking instruments: New cease & observe positive aspects aid scholars increase the judgment talents they wish within the glossy company international. Needles/Powers/Crosson demonstrates accounting in movement!

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Extra info for Principles of Financial Accounting, 11th Edition

Example text

An important function of accounting is to provide performance measures, which indicate whether managers are achieving their business goals and whether the business activities are well managed. The evaluation and interpretation of financial statements and related performance measures is called financial analysis. For financial analysis to be useful, performance measures must be well aligned with the two major goals of business—profitability and liquidity. Profitability is commonly measured in terms of earnings or income, and cash flows are a common measure of liquidity.

Financial accounting generates reports and communicates them to external decision makers so they can evaluate how well the business has achieved its goals. These reports are called financial statements. CVS, whose stock is traded on the New York Stock Exchange, sends its financial statements to its owners (called stockholders), its banks and other creditors, and government regulators. Financial statements report directly on the goals of profitability and liquidity and are used extensively both inside and outside a business to evaluate the business’s success.

Financial Position and the Accounting Equation STOP 17 & APPLY Match the descriptions on the left with the forms of business enterprise on the right: _____ _____ _____ _____ 1. 2. 3. 4. Pays dividends Owned by only one person Multiple co-owners Management appointed by board of directors _____ 5. Most numerous but usually small in size _____ 6. Biggest segment of the economy a. Sole proprietorship b. Partnership c. Corporation SOLUTION 1. c; 2. a; 3. b; 4. c; 5. a; 6. c Financial Position and the Accounting Equation LO5 Define financial position, and state the accounting equation.

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Principles of Financial Accounting, 11th Edition by Belverd E. Needles, Marian Powers, Susan V. Crosson


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