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For courses in Introductory Accounting. Essentials of Accounting is a workbook that provides a self-teaching and self-paced introduction to financial accounting for active users of business data. This text presents the ideas and terminology essential to understanding balance sheets, income statements, and statements of cash flows in a unique format that enables students to study and learn with ease. Essentials of Accounting is best used when paired with the Core Concepts of Accounting, which captures the full text (but not the programmed approach) of Essentials of Accounting, while including important accounting concepts and terms. For courses in Introductory Accounting Essentials of Accounting is a workbook that provides a self-teaching and self-paced introduction to financial accounting for active users of business data. This text presents the ideas and terminology essential to understanding balance sheets, income statements, and statements of cash flows in a unique format that enables students to study and learn with ease. Essentials of Accounting is best used when paired with the Core Concepts of Accounting, which captures the full text (but not the programmed approach) of Essentials of Accounting, while including important accounting concepts and terms. Split-page Design: The unique format of this text enables students to study and learn with ease. All they have to do is cover the right-hand side of the page, work through the problems on the left-hand side, and then check their workbook. This method is ideal for comprehension. Book has unique reversal of pages in the later chapters. This design was conceived as a way to allow the answer column to always appear in the right margin. The book is completed front to back, then inverted and completed back to front Provide the Basics: Essentials of Accounting presents the ideas and terminology essential to an understanding of balance sheets, income statements, and statements of cash flows. An ideal introduction/review, this supplemental text frees up professors from at least five class sessions in a conventional first course in accounting. New to this Edition NEW! Additional Cases. This edition features added cases in every chapter so there are at least three cases found in each chapter of the text. NEW! Revised Chapter on IFRS (International Financial Reporting Standards). Updated! The dates in this edition have been updated to reflect the current time period. Table of Contents Part 1: Basic Concepts Part 2: Balance Sheet Changes; Income Measurement Part 3: Accounting Records and Systems Part 4: Revenues and Monetary Assets Part 5: Expense Measurement; The Income Statement Part 6: Inventories and Cost of Sales Part 7: Noncurrent Assets and Depreciation Part 8: Liabilities and Equity Part 9: Statement of Cash Flows Part 10: Analysis of Financial Statements Part 11: Nonprofit Financial Statements Part 12: International Financial Reporting Standards (IFRS)