Accounting is an information system-an information system designed to communicate meaningful economic information about an entity to interested parties. The communication process involves preparers and users of accounting information. This handbook is designed to help both the preparers and users of accounting information. For preparers-mainly accountants-there is a vast array of accounting topics and suggested treatments. For users-managers, shareholders, and others seeking to understand a firm- there is a simple but comprehensive explanation of the meaning of accounting terms and of financial statements.

This handbook provides comprehensive and authoritative information on accounting in a conveniently organized and succinctly stated form.