Financial Accounting in an Economic Context

Financial Accounting, 10^th Edition, by Jamie Pratt and Michael Peters, provides students with a clear understanding of financial accounting by framing accounting processes in the context of real world business practices. It builds solid foundations in the mechanics of preparing the financial statements and the theories underlying the accounting measures of performance so that students can clearly understand the economic consequences associated with financial accounting choices. Pratt & Peters Financial Accounting explores key themes of measurement, decision-making, and economic factors.

Jamie Pratt is Alva L. Prickett Chair of Accounting at the Kelley School of Business in Indiana University. He received his Ph.D. in Accounting from Indiana in1977 and has held faculty positions at the University of Washington (Seattle), University of Zurich, Northwestern University, and INSEAD returning to Indiana in 1991. He teaches financial accounting and financial statement analysis at both the undergraduate and graduate levels, and he has received teaching awards at each of the institutions listed above. In addition, he has taught in executive education programs all over the world. His research interests primarily include financial reporting and auditing issues, and he publishes frequently in the top academic accounting journals. Professor Pratt is sole author of a popular textbook now in its 6th edition (Financial Accounting in an Economic Context), and he has co-authored a number of other educational materials, including casebooks, spreadsheet exercises, and state-of-the-art interactive cd-rom products.

1. Financial Accounting and its Economic Context

2. A Closer Look at the Financial Statements

3. The Measurement Fundamentals of Financial Accounting

4. The Mechanics of Financial Accounting

5. Using Financial Statement Information

6. The Current Asset Classification, Cash, and Accounts Receivable

7. Merchandise Inventory

8. Investments in Equity Securities

9. Long-Lived Assets

10. Introduction to Liabilities: Economic Consequences, Current Liabilities, and Contingencies

11. Long-Term Liabilities: Notes, Bonds, and Leases

12. Stockholders’ Equity

13. The Complete Income Statement

14. The Statement of Cash Flows