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New in the 7th Edition
In keeping with the contemporary flavor of the earlier editions, we have added many new companies to the book (including Apple, Rocky Mountain Chocolate Factory, Nordstrom, BP p.l.c., Volvo Group, and Build-A-Bear Workshop). Roughly half of the cases in this addition are completely new or updated for the latest financial statements. We reviewed all of the continuing cases with an eye to improving their clarity. To that end, we reorganized the questions in several cases. We continue to include and emphasize financial ratios and questions about management’s incentives and motives in arriving at accounting choices in many cases. We have included a case (BP p.l.c.) with quarterly financials and disclosures to allow students to see and explore interim financial reports and observe how firms report current issues (like the impact of the Gulf of Mexico oil spill) in a timely manner. A growing number of cases include industry-level information and include tables to guide the quantitative analysis especially when the questions require comparisons across years, to industry averages, or among firms. We have expanded the number of cases that directly probe differences between U.S. GAAP and International Financial Reporting Standards (IFRS). These cases are denoted IFRS in the table of contents. We also continue to include a significant number of non-U.S. companies, denoted  in the table of contents.
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