Introduction 1 Part 1: Getting a Financial Accounting Initiation 5 CHAPTER 1: Seeing the Big Picture of Financial Accounting 7 CHAPTER 2: Introducing the Big Three Financial Statements 23 CHAPTER 3: Running the Numbers for Success 37 CHAPTER 4: Acronym Alert! Setting the Standards for Financial Accounting 55 Part 2: Reviewing Some Accounting Basics 69 CHAPTER 5: Booking It: The Process Behind Financial Accounting 71 CHAPTER 6: Focusing on Accounting Methods and Concepts 93 Part 3: Spending Quality Time with the Balance Sheet 103 CHAPTER 7: Assessing the Balance Sheet's Asset Section 105 CHAPTER 8: Digging for Debt in the Liabilities Section 121 CHAPTER 9: Letting Owners Know Where They Stand: The Equity Section 137 Part 4: Investigating Income and Cash Flow 149 CHAPTER 10: Searching for Profit or Loss on the Income Statement 151 CHAPTER 11: Following the Money by Studying Cash Flow 173 CHAPTER 12: Examining Depreciation Cost Flow Assumptions 189 CHAPTER 13: Learning about Inventory Cost Flow Assumptions 205 Part 5: Analyzing the Financial Statements 219 CHAPTER 14: Using Ratios and Other Tools 221 CHAPTER 15: Got Your Dictionary Ready? Reading Explanatory Notes and Disclosures 237 CHAPTER 16: Studying the Report to the Shareholders 255 Part 6: Feeling Brave? Tackling More Advanced Financial Accounting Topics 269 CHAPTER 17: Accounting for Emerging Issues 271 CHAPTER 18: Accounting for Income Taxes 293 CHAPTER 19: Accounting for Leases 305 CHAPTER 20: Reporting Changes in Methods and the Correction of Errors 317 Part 7: The Part of Tens 331 CHAPTER 21: Ten Industries with Special Accounting Standards 333 CHAPTER 22: Ten Accounting Career Opportunities 343 Index 353.