Intermediate Accounting, 15th Edition
Financial accounting includes a process that is performed for the development of financial reports of enterprise for internal and external uses. The users of this information are usually investors, creditors, managers and different government bodies.
The financial statements are the heart of an organization through which it discusses its information with the external bodies. These statements include balance sheet, cash flows, income statement, statements of owners or shareholders etc.
In few cases the statements are provided in a comprehensive manner such as letter of president or annual report of a company, information of government bodies, news, management and social or environmental statements. The firms may need to offer this information due to authoritative pronouncement, regulatory terms and conditions.
This book emphasizes on two kinds of financial information- basic financial statements and associated disclosures. The managerial accounting is explained in the full length covering plan, control and evaluation of the processes conducted in the company. You will get a complete insight of how financial statements are prepared and their role in describing the whereabouts of a company. Overall reading this book will make you an expert in the financial accounting to become eligible to work in the enterprise.