Advanced Accounting

This new edition of the text Advanced Accounting has been updated to reflect recent FASB and NCGA pronouncements, including that of May 1987 that totally changes the treatment of consolidations. Emphasis in the consolidation chapters is on the cost method, which is compatible with the new FASB ruling. The most up-to-date information on foreign currency is also provided. Like the previous editions, underlying theory and application of business combinations, consolidated financial statements, foreign currency transactions, partnerships, and accounting for non-business organizations are all covered. The book is extensively illustrated and contains exercises, questions and problems, many of which are adapted from the CPA examination.