Coverage of IFRS

• We cover critical differences between U.S. generally accepted accounting principles (U.S. GAAP) and International Financial Reporting Standards (IFRS) without unnecessary details.
• We include problem materials from companies reporting under IFRS as well as U.S. GAAP.

Emphasis on Understanding and Analyzing Financial Statements

• Financial Statement Portfolio, inserted in Chapter 2 and identified by a blue vertical bar on the page edges, provides a visual roadmap to financial statement analysis by highlighting key financial ratios and how to derive them from the financial statements. The Financial Statement Portfolio also refers students to appropriate chapters in the book for in-depth coverage of these ratios. It is included in Chapter 2 to focus students on the usesof accounting information early in the course.
• Interpreting Financial Statements sections within each chapter permit students to pause and ponder how to use the information they are learning to better understand the financial position and prospects of a company.
• Analyzing and Interpreting Financial Statements problems at the end of each chapter include financial statement research, analyses of Starbucks financial statements, and analysis of other companies' financial statements using the Internet.
• Focus on Starbucks' Annual Report is used to illustrate various methods for analyzing financial statements. There is a problem based on Starbucks in each chapter, allowing students to get a more complete picture of many financial reporting issues relating to one particular company.

Other Features:

• Extensive treatment of ethics, with both text coverage and end-of-chapter problems focusing on this important topic in nearly every chapter.
• Critical Thinking Exercises in the assignment material of each chapter that ask students to consider conceptual issues that may have no right answer.
• Business First Boxes in each chapter, many new or completely revised. These boxes provide insights into operations at well-known domestic and international companies, accenting today's real-world issues.