Accounting- Concepts And Applications 10th - Albrecht, Stice, Stice, Swain.pdf
Accounting: Concepts and Applications 10th - Albrecht, Stice, Stice, Swain.pdf
Accounting is the process of identifying, measuring, recording, and communicating financial information about economic activities. Accounting helps users make better decisions by providing relevant and reliable information about the performance and financial position of an entity. Accounting can be divided into two main branches: financial accounting and managerial accounting.
Financial accounting focuses on providing information to external users, such as investors, creditors, regulators, and tax authorities. Financial accounting follows generally accepted accounting principles (GAAP) that are established by standard-setting bodies, such as the Financial Accounting Standards Board (FASB) in the United States. Financial accounting produces financial statements, such as the income statement, the balance sheet, the statement of cash flows, and the statement of stockholders' equity, that summarize the financial activities and position of an entity for a period of time.
Managerial accounting focuses on providing information to internal users, such as managers, employees, and owners. Managerial accounting does not follow GAAP, but rather uses cost-benefit analysis to determine the most useful and relevant information for decision making. Managerial accounting produces various reports, such as budgets, performance reports, variance analyses, product costing reports, and segment reports, that help managers plan, control, and evaluate the operations and performance of an entity.
Accounting: Concepts and Applications is a textbook that covers both financial and managerial accounting topics in a clear and engaging way. The book is written by W. Steve Albrecht, James D. Stice, Earl K. Stice, and Monte R. Swain, who are all experienced professors and researchers in accounting. The book is organized around business activities, such as financing, investing, operating, and reporting, that show how accounting is related to the real world of business. The book also balances an introduction to accounting procedures with an emphasis on decision making. The book uses actual examples from leading companies to illustrate how accounting information is used to make better business decisions.
The 10th edition of Accounting: Concepts and Applications was published in 2008 by Thomson/South-Western. The book has 1344 pages and contains 25 chapters that cover topics such as the accounting environment, the accounting cycle, financial statement analysis, cost behavior and cost-volume-profit analysis, budgeting and standard costing, capital budgeting and long-term financing decisions, and ethics and corporate governance. The book also includes appendices that provide additional information on topics such as present value tables, ratios for financial statement analysis, inventory costing methods, depreciation methods, and income taxes.
Accounting: Concepts and Applications is a comprehensive and user-friendly textbook that helps students develop a solid understanding of accounting and its importance in business today. The book is suitable for undergraduate or graduate courses in accounting or business administration. The book also provides a useful reference for professionals who want to refresh their knowledge or learn new skills in accounting.
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