Fundamental Financial Accounting Concepts
Eighth Edition
Fundamental Financial Accounting Concepts
Thomas P. Edmonds
University of Alabama–Birmingham
Frances M. McNair
Mississippi State University
Philip R. Olds
Virginia Commonwealth University
Edward E. Milam
Mississippi State University (Contributing Author)
FUNDAMENTAL FINANCIAL ACCOUNTING CONCEPTS Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright © 2013, 2011, 2008, 2006, 2003, 2000, 1998, 1996 by The McGraw-Hill Companies, Inc. All rights reserved. Printed in the United States of America. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 3 2 ISBN MHID 978-0-07-802536-5 0-07-802536-2
Vice president and editor-in-chief: Brent Gordon Publisher: Tim Vertovec Senior sponsoring editor: Dana L. Woo Executive director of development: Ann Torbert Development editor II: Katie Jones Vice president and director of marketing: Robin J. Zwettler Marketing director: Brad Parkins Senior marketing manager: Kathleen Klehr Vice president of editing, design, and production: Sesha Bolisetty Senior project manager: Diane L. Nowaczyk Senior buyer: Carol A. Bielski Interior designer: Pam Verros Senior photo research coordinator: Jeremy Cheshareck Photo researcher: Ira C. Roberts Lead media project manager: Allison Souter Media project manager: Ron Nelms Cover and interior design: Pam Verros Typeface: 10.5/12 Times New Roman MT Regular Compositor: Aptara ®, Inc. Printer: R. R.
Fundamental Financial Accounting Concepts
Thomas P. Edmonds
University of Alabama–Birmingham
Frances M. McNair
Mississippi State University
Philip R. Olds
Virginia Commonwealth University
Edward E. Milam
Mississippi State University (Contributing Author)
FUNDAMENTAL FINANCIAL ACCOUNTING CONCEPTS Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright © 2013, 2011, 2008, 2006, 2003, 2000, 1998, 1996 by The McGraw-Hill Companies, Inc. All rights reserved. Printed in the United States of America. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 3 2 ISBN MHID 978-0-07-802536-5 0-07-802536-2
Vice president and editor-in-chief: Brent Gordon Publisher: Tim Vertovec Senior sponsoring editor: Dana L. Woo Executive director of development: Ann Torbert Development editor II: Katie Jones Vice president and director of marketing: Robin J. Zwettler Marketing director: Brad Parkins Senior marketing manager: Kathleen Klehr Vice president of editing, design, and production: Sesha Bolisetty Senior project manager: Diane L. Nowaczyk Senior buyer: Carol A. Bielski Interior designer: Pam Verros Senior photo research coordinator: Jeremy Cheshareck Photo researcher: Ira C. Roberts Lead media project manager: Allison Souter Media project manager: Ron Nelms Cover and interior design: Pam Verros Typeface: 10.5/12 Times New Roman MT Regular Compositor: Aptara ®, Inc. Printer: R. R.