This best selling book offers a relevant, real world approach to financial accounting . Readers learn how to evaluate and analyze a typical corporate annual report and to use accounting as a tool in understanding business. The Eighth Edition now includes real world company examples such as Cisco, Nantucket Nectars, and Teva new 147Cognitive Exercises148 and 147Business First148 boxes new on line courses and step by step tutorials on the leading professional software packages and new CD ROM series, 147Mastering Accounting.148 The book's chapters cover accounting the language of business, measuring income to assess performance, recording transactions, using financial statements, accounting for sales, inventories and cost of goods sold, long lived assets and depreciation, liabilities and interest, valuing and accounting for bonds and leases, statement of cash flows, stockholders' equity, intercorporate investments and consolidations, financial statement analysis, and conceptual framework and measurement techniques.