Customer Reviews

Financial Accounting: The Impact on Decision Makers

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Accounting is hot due to Sarbanes Oxley Act 2002. This textbook is very clear, starting from the basic fundamental concept of T account, debit credit, annual report, intangibles, income statement, balance sheet, asset, liabilities, owner's equity, accrual accounting, inventory, FIFO, LIFO, investments in stocks and bonds, present value, future value, annuities, etc. It will be better if more retirement examples are given, such as Roth IRA, 401K conversion, and estate planning. I would recommend this book to everyone who never took an accounting course.

With Financial Accounting: The Impact on Decision Makers, authors Gary Porter and Curtis Norton use a unique approach that has created for them a niche market. My purpose is using their textbooks is to have more material that I can use to develop my lectures, quizzes and exams when I teach accounting courses at the university level. In the past I was more active than I am now. I used to teach two courses a year and now I'm taking a break because I have twin babies in addition to my regular job.

Porter and Norton present relevant and interesting examples from real-world corporations, and then they teach how to use accounting to solve such matters. Their text's organization is excellent as they provide lessons with well-done assessments to offer immediate feedback. One can never get enough of all this to help in preparation for course instruction. It helps to build a knowledge base of appropriate real world situations that everybody can identify with and, using that, make accounting practices meaningful.

Because of the niche served by Porter and Curtis and their track record of producing excellent texts, I imagine they will continue to revise and update with new additions every year. I also hope they continue.