This 14th edition has been revised based on feedback from the marketplace, and now includes a more flexible approach. Learning aides are included with real company scenarios and end-of-chapter questions, business decision cases and ethical issues. This edition places greater emphasis on the uses of accounting information by managers, business owners, and lenders, and examines the accounting function in the context of the organization, the work accountants do, and the pervasive importance of ethics. A new chapter discusses natural resources, intangible assets, and long-term investments, including international investments, and there is expanded coverage of activity based costing systems.