Financial Accounting: The Impact on Decision Makers (6th by Gary A. Porter, Curtis L. Norton

By Gary A. Porter, Curtis L. Norton

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Porter and Norton's real-world technique in monetary ACCOUNTING: THE effect ON determination MAKERS, 6th version, supplies an up-close standpoint on how accounting actually impacts companies at the present time. you are going to discover a suitable "focus company" with each one bankruptcy, utilizing accounting ideas within the context of that company's particular monetary info and company technique, supplying you with the real-world event with monetary info you want to reach enterprise. extra, Porter and Norton's student-friendly, step by step selection framework courses you thru a 6-step method on tips to successfully use monetary details early within the path, laying a higher beginning for the extra advanced techniques to stick to. monetary ACCOUNTING: THE effect ON selection MAKERS, 6th version, is going past ordinary texts that drill scholars at the numbers and techniques to deal with extra vital concerns, comparable to moral dilemmas in enterprise judgements and exchange phrases you could come upon within the company global.

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Asset. revenue. liability. What Is Accounting and What Information Do Users of Accounting Reports Need? 11 What Is Accounting and What Information Do Users of Accounting Reports Need? 1 Each of the three activities in this definition—identifying, measuring, and communicating—requires the judgment of a trained professional. Note that the definition refers to the users of economic information and the decisions they make. Who are the users of accounting information? We turn now to this important question.

Asset. revenue. liability. What Is Accounting and What Information Do Users of Accounting Reports Need? 11 What Is Accounting and What Information Do Users of Accounting Reports Need? 1 Each of the three activities in this definition—identifying, measuring, and communicating—requires the judgment of a trained professional. Note that the definition refers to the users of economic information and the decisions they make. Who are the users of accounting information? We turn now to this important question.

A liability is an obligation of a business; it can take many different forms. When a company borrows money at a bank, the liability is called a note payable. When a company sells bonds, the obligation is termed bonds payable. Amounts owed to the government for taxes are called taxes payable. Assume that Kellogg’s buys corn to be used to produce Corn Flakes®. Assume that the supplier gives Kellogg’s 30 days to pay the amount owed. During this 30-day period, Kellogg’s has an obligation called accounts payable.

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