With this fourth edition, accountants will acquire a practical set of tools and the confidence they need to use them effectively in making business decisions. It better reflects a more conceptual and decision-making approach to the material. The authors follow a macro- to micro- strategy by starting with a discussion of real financial statements first, rather than starting with the Accounting Cycle. The objective is to establish how a financial statement communicates the financing, investing, and operating activities of a business to users of accounting information. This motivates accountants by grounding the discussion in the real world, showing them the relevance of the topics covered to their careers.