Sep 04
Product Description
This second edition of “Advanced Financial Accounting” has been revised to incorporate recent FASB and GASB events. Its building-block approach allows for great reader accessibility. In addition, a continuous case is used for every major subject area, illustrations aid in understanding key concepts, and the learning material located at the end of the chapters offers more comprehensive cases and problems, as well as single-issue problems…. More >>
I have used this book in conjunction with Gleim’s CPA review books in preparation for FARE section of the CPA exam. Excellent supplement especially if you look for technical aspects of purchase/pooling accounting. The chapters on consolidation are truly outstanding. Very thorough and comprehensive. The only drawback as with many other textbooks is the lack of answer keys at the end of the chapter. Overall, I would definitely recommend getting it.
Rating: 5 / 5
I liked this textbook because it is nice and clean and uncluttered inside, however I think that the content could have been better. I had trouble with the first chapter having to do with business combinations in that every time a journal entry was recorded, I had no idea whether the author was referring to the common stock of the purchasing company or the common stock of the selling company. After a while, I finally figured it out, but I thought the problem could have been avoided by being more clear. There are many more examples that I have like this one. I may be being picky about the book seeing as how I took this course via independent study, so I did not have the ability to ask an instructor specific questions. I just think that the authors could have done a better job being more clear on many things. In the end, I did end up getting a A in the course!
Rating: 3 / 5
This book covers special accounting entities that are not covered in Intermediate Accounting. This book has become helpful in the different organizations I have been employed. Although the material in this book is a lot – it is necessary. Has an excellent section for Not-for-Profit accounting.
Rating: 5 / 5
Everything was perfect! I received the item in a timely manner and in the condition it was described.
Rating: 5 / 5
This is one of the most poorly written text books I have ever encountered. How many times and in how many ways can an author tell us that when companies consolidate they must present their financial statements to appear as if they were a single company? This is not the only instance of use of repetition. An effectly written book would not have to repeat itself so much. If the concept is presented correctly the student will get it the first time!
Additionally, the author spends too much time talking about outdated accounting methods and in many cases makes no preface as to the fact that they are no longer acceptable methods. So, while the student tries to drill this information in, he doesn’t realize that it is inconsequential information.
Throughout the text the authors refer the reader to Figures and Exhibits. This, in turn forces the reader to fan back and forth through the text. If you are going to refer to an example, all of the information pertaining to that example should be one the same page as the example! I also found it frustrating that the author would continually introduce topics and then say that they would be covered more fully in a later chapter.
Sure, this is an advanced topic but the text doesn’t need to contribute to the problem. Overall, I would give this text book a “D”
Rating: 2 / 5