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Handbook of Modern Accounting Second Edition
Accounting is an information system?an information system designed to communicate meaningful economic information about a business firm or other entity to interested parties. The communication process involves senders and receivers of the information. This handbook is designed to help both the senders and the receivers of accounting information. The senders?largely accountants-are presented with a vast array of accounting topics and suggested treatments. The receivers-managers. stockholders. and all those seeking to understand the operations and position of a firm-can find a simple but comprehensive explanation of the meaning of accounting terms and of financial statements.
The accounting message frequently summarizes substantial compilations of data; the process of data collection is undergoing vast change as electronic computers and other recording devices are improved. The analysis of accounting data and financial statements is increasingly being carried on by means of sophisticated mathematical and statistical tech-niques. The title Handbook of Modern Accounting was selected to emphasize the decision to incorporate descriptions of the newest concepts and techniques that are reshaping accounting as well as to give full expression to the time-tested theories and procedures of the accounting art. The volume offers a balanced coverage of the new and the old. the emerging and the traditional topics.
The handbook seeks to provide comprehensive and authoritative information on accounting in a conveniently organized and succinctly stated form. Those faced with accounting problems can reach for the volume and find helpful guidance toward answers. The handbook contains a large amount of practical. how-to-do-it forms and information. However. the contributors have not limited themselves to a cookbook approach. but have spiced their sections with observations on the philosophic background and likely development of each accounting topic.
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