This book is intended for three different audiences. First, the book is rigorous enough to serve as the text for a traditional two-semaster sequence for accounting majors, for professors who want to emphasize a conceptual understanding of financial reporting rather than proficiency in completing CPA exam problems. That is how I use the book in my own teching. Professors using the book for a two-semester sequence will likely supplement it with outside readings. Second, the book is intended to be concise enough to serve as a text for a onesemester intermediate course for nonaccounting majors. Finally, the book is ideally suited for an MBA intermediate accounting course.

1. The Economics of Accounting Information
2. Accrual Accounting and the Income Statement
3. The Balance Sheet: Market Value versus Historical Cost
4. The Cash Flows Statement and the Importance of Cash Flows
5. Notes Receivable, Notes Payable, and the Time Value of Money
6. Timely Reporting: Recognizing Future Bad New Early
7. Product Costs: Inventories and Cost of Goods Sold
8. Allocating the Cost of Property and Equipment
9. Accounting for Income Taxes
10. Investments in Intangible Assets
,etc.