This textbook integrates financial and managerial accounting as
opposed to keeping these areas separate, the approach followed by
most books and curriculums. By "integration," we mean the authors
focus on the business process and examine the activities from both
an external, financial reporting perspective and an internal,
management decision-making perspective. The text incorporates real
world applications, including actual financial statements, to
reinforce the relevance of topics to real business situations and
promote student interest. The text also promotes active learning
through Pause And Reflect "probing" questions placed sporadically
throughout each chapter, Of Interest boxes that provide additional
information relating to the chapter concepts, new Fast Fact boxes
that provide additional information related to chapter concepts in
a short, trivia-like manner, and end-of-chapter group exercises.. .
There are three key distinctions to the Ainsworth/Deines
approach. They are: . 1.Integration - described in preceding
paragraph.. 2.Within the context of business processes,
Ainsworth/Deines is organized by planning for activities,
performing those activities (in other words, capturing them in the
financial statements), and finally, evaluating those business
activities.. 3.An organization around the Statement of Cash Flows
first focusing on Operating Activities (what is my business, my
product, who are my customers?) and then Financing and Investing
Activities (how do I fund my business, how do I expand, what are
the financial risks, etc?)..
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