Financial accounting : an introduction to concepts, methods, and uses

Abstract

Our perspective in this textbook derives from our belief that effective financial reporting, starting with financial statement preparation and ending with financial statement analysis and use, requires ruthless objectivity and extreme expertise. For the financial reporting process to have its intended effects, preparers of financial statements must make unbiased and informed measurements—in particular, fair value measurements—and users of financial statements must comprehend and analyze those measurements with skill and objectivity.