Financial Accounting: In an Economic Context [Import] [Hardcover]

Pratt (Author)

Book Description

ISBN-10: 0470000465 | ISBN-13: 978-0470000465 | Publication Date: February 25, 2002 | Edition: 5

By focusing on three elemental themes--economic factors, measurement issues, and decision-making perspective--Jamie Pratt's book provides an enlightening coverage of financial accounting from an economic perspective, at once tightening the conceptual framework while enriching the essential contextual relevance of principles every business manager needs to understand.

Editorial Reviews

From the Back Cover

Smart decisions start here

The formula for successful management is simple: attract capital at the lowest possible cost, and invest it in projects where the return exceeds the cost. But making the right decisions isn’t easy. You need to understand economic factors, measurement issues, and the mechanics of financial accounting.

That’s why Jamie Pratt’s trend-setting text approaches financial accounting from an economic, decision-making perspective. This approach equips you with the financial accounting knowledge and tools you need to make smart decisions.

Here’s how Pratt’s economic, decision-making approach works:

1. Take a close look at the economic environment.

You can’t understand financial accounting without an understanding of today’s economic environment. Financial Accounting in an Economic Context, Sixth Edition includes frequent references to actual events and real companies, provocative quotes from well-known business publications and annual reports, and pertinent information about current industry practices.

2. Explore key measurement issues.

The text explores the conceptual and theoretical foundation of financial accounting measurement. This foundation will help you interpret financial statements and use them in a meaningful way.

3. Understand the mechanics of financial accounting.

You’ll learn about the mechanics underlying financial statements, so you can use financial accounting information effectively. The text approaches journal entries and T-accounts as an efficient way to communicate how economic events are reflected on the financial statements. You’ll also learn how to infer transactions from the financial statements using reverse T-account analysis. --This text refers to an out of print or unavailable edition of this title.

About the Author

Jamie Pratt is professor of accounting and Price Waterhouse Fellow at the University of Indiana. A frequent lecturer and experienced instructor he has held positions at the University of Washington University of Zurich Switzerland. Research includes accounting education public accounting firms international and intercultural issues and management performance evaluation. A well-published author Dr. Pratt has contributed to numerous professional journals in the accounting profession. --This text refers to an out of print or unavailable edition of this title.

Product Details

• Hardcover: 832 pages
• Publisher: Wiley; 5 edition (February 25, 2002)
• Language: English
• ISBN-10: 0470000465
• ISBN-13: 978-0470000465
• Product Dimensions: 10.1 x 8.2 x 1.5 inches
• Shipping Weight: 3.6 pounds
• Average Customer Review: 3.1 out of 5 stars  See all reviews (14 customer reviews)
• Amazon Best Sellers Rank: #620,118 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

14 of 18 people found the following review helpful:

2.0 out of 5 stars Not even an answer key to the exercises, March 7, 2003

By 

SERGIO RAMIREZ GUERRERO (San Francisco, CA) - See all my reviews

This review is from: Financial Accounting: In an Economic Context (Hardcover)

The book is easy to understand, but there should be a solutions manual, or at least an answer key to the exercises. It has been very difficult for me to "learn the mechanics" and "apply the concepts" at the end of each chapter. The pace of the course allows the teacher to solve only 2 or 3 exercises in class, and the book certainly does not make selfstudy easy. Needless to say, that you can't learn financial accounting just by reading. To makes things even worse, a study guide, which does not refer to the same exercises in the book, is out of print.

7 of 9 people found the following review helpful:

4.0 out of 5 stars Good book for non-accountants, November 10, 2008

By 

David Carter - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Financial Accounting in an Economic Context (Hardcover)

Back in the early 90's I took Professor Pratt's class when he was on loan to the Kellogg School of Business at Northwestern. His book had not yet been published but he gave all of us copies of the manuscript for the course. So..I needed to replace that version since it had long since fallen apart. This book is great for non-accountants who wish to enhance their understanding of annual reports and interpretation skills. As anyone who has glanced through an annual report can attest, they are not terribly straightforward in identifying changes in the financial status of a company that are less than flattering. They tend to 'accentuate the positive.' Jamie Pratt teaches how to see through these reports to more accurately assess a company's financial condition. Don't expect to be spoon fed by reading this book. Like any complex system, becoming proficient requires study and understanding of fundamental concepts. If you are willing to commit some time, this book will provide the necessary tools.

4 of 5 people found the following review helpful:

3.0 out of 5 stars Not enough student resources, May 16, 2009

By 

J.M. - See all my reviews

This review is from: Financial Accounting in an Economic Context (Hardcover)

There are no answers provided for any exercises. No online help either like most modern textbooks. YOu have an option to pay more money to get the study guide. This book is simply a tool to rack up more money, not to help students.