Using Financial Accounting Information: The Alternative to Debits and Credits

Using Financial Accounting Information: The Alternative to Debits and Credits

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USING FINANCIAL ACCOUNTING INFORMATION, 9E is a non-debit/credit text known for its strong decision-making focus and its incorporation of flagship companies for increased relevance. This text provides the appropriate blend of academic rigor with step-by-step learning and decision-making models that reach todaya€™s students and equip them with the skills they need to be effective decision makers and future business leaders. Instead of an abstract approach to accounting, USING FINANCIAL ACCOUNTING INFORMATION takes students through recognizable focus companies and their specific financial data and business strategies, imparting students with real-life experience and a model to hone the skills necessary to making important decisions. This edition features three key models that provide students with a more structured approach to understanding financial data and explains how it is used to make sound business decisions. The Transaction Analysis Model helps students see the effects an economic event has on the accounting equation and financial statements, the Financial Decision Framework focuses on ratio analysis and financial decisions, and the Ethical Decision Model helps students use ethical judgment when applying accounting principles. USING FINANCIAL ACCOUNTING INFORMATION, 9E will help students learn and understand core accounting rules. It also will give them a framework through which they can apply their knowledge to make effective business decisions. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.Debits and Credits Rather than refer to the left or right side of an account, accountants use specific labels for each side. ... Account Name Left Side Right Side Debits Credits We will also use the terms debit and credit as verbs. ... The following logic is used to arrive at the rules for increasing and decreasing revenues:5 Debit An entry on the left side of an account. ... Because we will need to decrease them as part of the closing procedure, it is important to know how to reduce as well asanbsp;...

Title:Using Financial Accounting Information: The Alternative to Debits and Credits
Author:Gary Porter, Curtis Norton
Publisher:Cengage Learning - 2014-01-01


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