ccounting is an information system that measures, processes, and communicates financial information about an economic entity.1 An economic entity is a unit that exists independently, such as a business, a hospital, or a governmental body. Although the central focus of this book is on business entities, we include other economic units at appropriate points in the text and end-of-chapter assignme…
This revision of Principles of Accounting is based on an understanding of the nature, culture, and motivations of today’s undergraduate students and on extensive feedback from many instructors who use our book. These substantial changes meet the needs of these students, who not only face a business world increasingly complicated by ethical issues, globalization, and technology but who als…