Libby/Libby/Short wrote this text based on their belief that the subject of financial accounting is inherently interesting, but financial accounting textbooks are often not. They believe most financial accounting textbooks fail to demonstrate that accounting is an exciting field of study and one that is important to future careers in business. When writing this text, they considered career relevance as their guide when selecting material, and the need to engage the student as their guide to style, pedagogy, and design. Libby/Libby/Short is the only financial accounting text to successfully implement a real-world, single focus company approach in every chapter. Students and instructors have responded very favorably to the use of focus companies and the real-world financial statements. The companies chosen are engaging and the decision-making focus shows the relevance of financial accounting regardless of whether or not the student has chosen to major in accounting.



Table of Contents :

1. Financial Statements and Business Decisions 2. Investing and Financing Decisions and the Balance Sheet 3. Operating Decisions and the Income Statement 4. Adjustments, Financial Statements, and the Quality of Earnings 5. Communicating and Interpreting Accounting Information 6. Reporting and Interpreting Sales Revenue, Receivables, and Cash 7. Reporting and Interpreting Cost of Goods Sold and Inventory 8. Reporting and Interpreting Property, Plant and Equipment; Natural Resources; and Intangibles 9. Reporting and Interpreting Liabilities 10. Reporting and Interpreting Bonds 11. Reporting and Interpreting Owners' Equity 12. Reporting and Interpreting Investments and Other Corporations 13. Statement of Cash Flows 14. Analyzing Financial Statements Appendix A: Present and Future Value Tables Appendix B: Pacific Sunwear Annual Report Appendix C: American Eagle Outfitter Annual Report Appendix D: Industry Ratio Report Appendix E: The Formal Recordkeeping System at www.mhhe.com/business/accounting/libby5