Horngren's Financial
Rounak Wetzel
Like its predecessor, the fifth edition of Financial Accounting emphasizes using accounting information and financial statements in a decision-making context. The thirteen-chapter text follows essentially the same outline as the fourth edition. The new edition contains a new appendix illustrating typical charts of accounts for various types of businesses, and its new prologue appropriately discusses the role of accounting in business.
True to its decision-making orientation, the text more than competently places financial statements and accounting procedures in a "real world" business context throughout the text. It also gives increased attention to ethical issues relevant to the topic at hand. Unlike many introductory texts, it introduces the corporate form of business organization and its related financial statement elements in Chapter One. The decision guidelines presented at the end of each chapter are but one example of the many excellent pedagogical features found in the text. Extensive end-of-chapter assignment materials allow the instructor the flexibility to select problems of varying complexity and rigor with both a conceptual and procedural emphasis.
In summary, this text is sufficiently well written and comprehensive in its coverage of basic financial accounting concepts that this reviewer recommends its adoption for faculty members teaching a one-semester undergraduate financial accounting course for the first time. The judicious selection of end-of-chapter assignment material (i.e., analytical cases and group projects) would also make it quite suitable as a primary text for an M.B.A.-level course. Faculty currently teaching the course who wish to move to a somewhat less procedural-oriented text would also likely benefit from its adoption; however, those faculty who are satisfied with their current text would most likely find this book insufficiently different from both its previous edition and the many competing available titles in this market to warrant changing texts.
Do you have any conflicting interests? *Conflicting interests helpClose Conflicting interests help Please list any fees and grants from, employment by, consultancy for, shared ownership in or any close relationship with, at any time over the preceding 36 months, any organisation whose interests may be affected by the publication of the response. Please also list any non-financial associations or interests (personal, professional, political, institutional, religious or other) that a reasonable reader would want to know about in relation to the submitted work. This pertains to all the authors of the piece, their spouses or partners.
This book is presented by Tracie, Brenda, & Ella to put the core principles of financial and managerial accounting. It applies in the modern teaching system with the help of Smart Study to successfully assist learning. The pedagogical readings are designed to impart in-depth knowledge of foundational topics of accounting and practice and help solve practical problems, real-life situations, and business organization. The content provided is error-free and up-to-date according to the accounting principles given by GAAP. The 6th edition contains some revised topics, including the importance of accounting to non-accounting majors, updated revenue recognition principle per newly released standards, balance sheet representation to report fixed assets, sale of merchandise, accounting debt and equity securities, and many more. It includes a step-by-step explanation of each concept and problem to increase the students' understanding at every point.
aa06259810