Cases in Financial Reporting,revised

This book is a collection of financial accounting cases designed to help you become a user of financial reports. Learning accounting is very much like learning a new language. The best way to learn any language is to immerse yourself in the language and to converse with many people. Conversations speed up language acquisition and teach the nuances of the language. Conversations strengthen language skills and build breadth. This collection of cases creates a set of conversational opportunities. You will learn accounting by reading financial statements and by responding to topical questions about those financials. By reading and using many different companies' financial statements, you will speed-up your acquisition of accounting concepts and skills. By observing the nuances of financial reporting, you will quickly learn to speak "accounting," the language of business. These materials bridge a void in introductory financial statement materials at both the undergraduate and the graduate level. Typically, students are required to read a textbook chapter and do some exercises to ensure concept comprehension. Assigned end of chapter material, however, is often not sufficiently challenging to students with stronger analytical abilities. Questions often focus on financial statement preparation rather than, as appropriate for many students, financial statement use. At the other extreme, unstructured discussion cases can leave students with a weak grasp of the mechanics and subtleties of financial accounting. The cases presented here fill the void. Each case deals with a specific financial accounting topic within the context of one corporation's financial statements. Usually, a case contains financial statement information (a balance sheet, income statement, statement of cash flows, and footnotes) and a set of specific questions pertaining to one financial accounting issue. You will use the financial statement information to infer and interpret the economic events underlying the numbers. Some cases are accompanied by a related article taken from the business press. In those instances, information from the article is incorporated into the questions in the case. Some cases involve two companies within an industry and the case questions focus on intercompany comparisons of financial information. Numerous cases are based on international companies. In this edition, the cases are found alphabetically by company name. To get a feel for the scope of the cases as a whole, we refer you to the table of contents. There, the cases are presented in a conceptual order-the order we use in our courses. WHAT MAKES THESE MATERIALS UNIQUE These materials have a proven track record. The book was developed from the course materials used since 1991 at the University of Texas at Austin. The course (a semester-long, compulsory, first-year introductory class) has been extremely well-received by students each semester it is taught. The course consistently receives among the highest student evaluations in the UT and Texas A&M M.B.A. cores. Several unique features distinguish this casebook: Financial Statement Diversity--This book comprises 38 cases. We believe that you will appreciate the exposure to many different companies and quickly learn that, while financial statements do not all look the same, they can all be understood and used. Current Financial Statements--The cases are very current; primarily dated 1995 through 2002. This affords you the opportunity to read and use pertinent and timely financial information. Some older cases have been included because they explicate a concept particularly well or because they demonstrate an uncommon trend. International Financial Statements--Cases cover companies from Canada, France, Germany, Japan, Mexico, Taiwan, and the U.K. as well as from the U.S. Many of the U.S. companies are major multinationals. The globalizHirst, D. Eric is the author of 'Cases in Financial Reporting,revised' with ISBN 9780131494480 and ISBN 0131494481.