Financial reporting & analysis

"One of our objectives in writing this book is to help students become skilled preparers and informed consumers of financial statement information. The financial reporting environment today is particularly challenging. Accountants, auditors, and financial analysts must not only know the reporting practices that apply in the United States (U.S. GAAP), they must also be aware of the practices allowed in other countries under International Financial Reporting Standards (IFRS). Adding to this challenge is the fact that the Financial Accounting Standards Board (FASB) and its global counterpart-the International Accounting Standards Board (IASB)-have issued in the past few years an unprecedented number of proposed new standards intended to improve financial reporting practices worldwide and to achieve convergence of U.S. GAAP and IFRS. These proposed new standards will change in fundamental ways when revenue is recognized, how certain assets and liabilities are measured, and how information is presented in financial statements"--