merely explaining procedures. The authors develop each topic by explaining the underlying business activity, the reporting goals, and how standards and procedures achieve these goals; Clear and Logical Development of Business Combination Topics: To make consolidation procedures more comprehensible, eliminations subsequent to acquisition presume that the parent uses the complete equity method. Exclusive use of the complete equity method allows students to focus on the goals of consolidation and the key issues in consolidation procedures. Once students develop a solid understanding of the consolidation process, changes in procedures required when the parent uses the cost method can be introduced; Emphasis on Current Issues: 'Advanced Accounting' features and illustrates the latest FASB and GASB pronouncements and proposals. The authors use FASB Codification references for all relevant U.S. GAAP; IFRS Coverage: Discussion of International Financial Reporting Standards is incorporated throughout the book where appropriate; Applied: 'Advanced Accounting' draws on current, real company data throughout the text and assignments; excerpts from real annual reports are used generously.

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