Continuing the emphasis from the last edition on the use of accounting information by business owners, lenders, managers, and others, this edition incorporates additional enhancements intended to offer an even more accessible text. Technical detail has been reduced, especially with regard to topics better suited for the course in intermediate accounting. All enhancements made to this edition are the result of extensive market feedback, and fall within three key categories: 1) Pedagogical Improvements feature real company chapter openers, additional opportunities for analyzing financial statements, and an increased emphasis on critical thinking and communication skills, 2) The Use of the Corporate Approach, 3) A shift toward the use of perpetual inventory for chapters 5 and 9. In addition, EFA is one of the lowest priced texts on the market.