This new edition continues to offer a user orientation to fundamental coverage of accounting principles within a traditional organizational framework. This text serves the needs both of the accounting and business undergraduate, providing a sound understanding of the uses and importance of accounting information in a wide range of business decisions. This 8th edition contains new introductory-level coverage of important emerging topics, such as mark-to-market and accounting for post-retirement benefits. Other topics covered include: financial assets; liabilities; reproting unusual events; and measuring cash flow.