Includes index.

Part One. The Accounting Process -- Part Two. Accounting for Assets and Current Liabilities -- Part Three. Accounting for Partnerships and Corporations -- Part Four. Financial Statements-Analysis, Interpretation, and Theory -- Part Five. Managerial Accounting for Decision Making.

A principles of accounting text should be a learning aid that shows students how to formulate accounting information and how to use it in the business world. Such a book should fully explain and illustrate how business transactions are recorded, summarized, classified, reported, and interpreted, and the underlying theory that supports the accounting techniques. If the book accomplishes this purpose, the students will have an understanding of accounting that will enable them to pursue their chosen careers successfully, whether these careers are in accounting or in another related field.