Our primary objective with the first edition of this hook was to write a

comprehensive, flexible text that was easy to use by Both instructors and

students. This second edition is intended.to continue the same theme

while responding to the changing business environment that accounting ~"

serves. In writing this second edition~ we have listened carehllly to adopt-

ers, reviewers, editors, and our students, and have also taken into account

our own experiences with the book. As a result, we have been able to

streamline the writing style, rearrange some of the material, and improve

the level of the book by eliminating some topics that are too complex for

an introductory textbook. In addition we also ha~e euhaneed an already

strong support package available to students and instructors using this

book.

The basic philosophy of the first edition is unchanged. The book is

suitable fbr introductory courses at either file undergraduate or graduate

levels. The coverage of material is designed to satisfy the needs of potential

accounting majors as well as those who will not continue with advanced

accounting courses. A careful balance between conceptual and technical

material is maintained because we believe that a combination of basic

concepts and practical application of techniques is essential if students are

to retain the body of accounting knowledge they will need in other eourses

and in their future business experiences.

The book deliberately contains more material than is typically covered

in a single semester or quarter. Most instructors like the flexibility afforded

by a hook that covers the basic financial accounting concepts and allows

them to select additional topics to satisfy their particular course objectives.