Intermediate Accounting

I was very pleased with this purchase. There is just very minor highlighting in one chapter but otherwise it looks brand new. I will purchase again from the seller, most definitely should the need arise again.

I had two intermediate acc. classes at college that went by this book... one for the first half of the book, one for the second half. For those intimidated by the size, trust me it isn't that bad; probably 2/5 of the 1400 pages are for the after-chapter exercises and problems, which are, needless to say, integral to your understanding of accounting. The fact is, there simply isn't enough room in the text to cover all the situations/complexities (for instance in leases) tested by the problems/exercises, so this book definitely isn't complete without the solution manual. Yes, the chapters do seem looong (35 pg. average if I remember and positively DENSE with material, footnotes and all), but it is well written and a focused effort on your part should get you through each in a reasonable amount of time. They have also made available the updated pension chapter (pre-2008 versions are no longer valid) on their website, and for what most would say is the hardest material in the entire text, I thought they did a very good job (or it could be that the "old" pension accounting presented in my Financial Accounting book was just really confusing).

My qualifications: BA in Business, BS is Accountancy, MBA finance, CPA, Corporate Controller and Financial Mananger. I've been buying and reviewing new editions of this text every few years for over 20 years now. Why? Becasue if accountancy is your profession you cannot afford not to be completely up to date. Things change. Even all you want to do is make a decent salary and vegetate somewhere, someone is trying to bury you and take your job (or your company). Count on it. It is about competiveness, survival, and prospering. When can you quit studying? Never.

This is the text to put you ahead. I have seen shorter, more simple, less comprehensive, and much cheaper texts. But do you want the competitive edge or not?

There are other non-book alternatives. If your're a CPA, you'll have to keep plugging along with the CPE programs forever (sigh), but they don't hack it in depth compared to this. Even the AICPA's Journal of Accountancy, though highly reccomended, and far more timely than any book, cannot cover the details adequately.

Or you could take a CPA exam review course like Becker's every so oftern. That will set you back a fortune and hundreds of hours of your life. But you will be completely up to the minute on most everything. How long you remember everything after finishing the review course is another question.

"A practicing CPA simply cannot know the answers to many practice questions as they arise but rather needs the ability to find such answers." (NASBA site) This is the one stop text to do it.

A couple pieces of advice. Don't take the text into the office unless you see it (or others like it) on partners' bookshelves. Keep it out in the car for lunch, afterwork, fake restroom breaks,last minute reviews before you go in, or whatever. Also, never ever take it into a client's site. It may sometimes seem like a good idea, but your manager will probably slap you around for it.

Any text is only good for a few years, then spring for a new edition. If you get this text, give yourself some time working through it on the parts that are new to you or give you the most trouble or worry at work. Then consider buying the study guide. It's not a substitute for the book but it can speed things up for you a lot.

If you think this is a lot of work or baloney, try weighing it against not getting a good raise or promotion. Best wishes and good look.

P.S. I'm on this page because I'm buying my latest copy.

I used a previous edition of this book to study for and pass the CPA exam on my first try back when it was a 2 day pencil and paper exam. This book has everything you need and helps to develope an excellent foundation of knowledge that will help any student who goes on to take a masters level advanced financial reporting class. To those who have rated it poorly, I have to admit that once upon a time I did not like the book. However, the problem was me and not the book. As with any book, it is not of value unless the user actualy takes time to thouroughly read each chapter.

I've just started using this textbook, and I am impressed so far. I'm using it for an intermediate accounting class I'm taking

There is a wealth of information in here, and I'm looking forward to diving in further.