The book opens with an excellent glossary of technical terms and common expressions in accounting, and follows with sections on: General Electric's Annual Report (GE is chosen because it is consistently among the best) complete with notes and comments by the authors aiding in the understanding of this report and annual reports in general; Penn Central's balance sheet just before bankruptcy; a section on "Accounting Magic" wherein the reader is shown an effective example of the considerable flexibility in financial reporting; and a list of Pronoucements Governing Generally Accepted Accounting Principles and their dates of issuance.
The book assists one in becoming familiar with the language of business required to understand business communications. It is used in colleges and universities across the country and in many businesses and financial institutions as part of their training programs for new employees and in the continuing education of employees of long standing.
