Financial and Managerial Accounting 16E by Williams Haka Bettner and Carcello PDF free download

Understanding and using accounting information is an important ingredient of any business undertaking. Terms such as sales revenue, net income, cost, expense, operating margin, and cash flow have clearly defined meanings and are commonly used in business-related communications. Although the precise meaning of these terms may be unfamiliar to you at this point, to become an active participant in the business world, you must gain a basic understanding of these and other accounting concepts. Our objective in this book is to provide those who both
use and prepare accounting information with that basic understanding.

Financial and Managerial Accounting 16E by Williams Haka Bettner and Carcello PDF

Information that is provided to external parties who have an interest in a company is sometimes referred to as financial accounting information. Information used internally by management and others is commonly referred to as managerial accounting information.

Whereas these two types of information have different purposes and serve different audiences, they have certain attributes in common. For example, both financial and managerial accounting require the use of judgment and information prepared for either purpose should be subject to the company’s system of internal control.

Financial accounting concepts are critical in order to understand the financial condition of a business enterprise. Determining a company’s net income by subtracting its expenses from its revenue is a particularly important part of financial reporting today.

This may appear to be a simple process of keeping accounting records and preparing reports from those records, but a great deal of judgment is required.

For example, when should the cost of acquiring a resource that is used for several years be recognized as an expense in the company’s financial statements? What information is particularly useful for management, but not appropriate for public distribution because of the potential competitive disadvantage that might result? These are among the many complex issues that business faces on a day-to-day basis and which have a critical impact on the company’s responsibility to its owners, creditors, the government, and society in general.

As we begin the study of accounting, keep in mind that business does not exist solely to earn a return for its investors and creditors that supply a company’s financial resources.
Business also has a responsibility to operate in a socially responsible manner and to balance its desire for financial success within this broader social responsibility.

We begin our development of these ideas in this chapter, and continue their emphasis throughout this text book.

Financial and Managerial Accounting 16E by Williams Haka Bettner and Carcello PDF

Financial and Managerial Accounting 16E by Williams Haka Bettner and Carcello PDF

Free Download

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