This bestseller has powered the careers of countless professionals. This update to the 11th edition builds on the book's reputation for comprehensiveness, accuracy, and currency, incorporating all the recent changes to the accounting literature. It integrates numerous examples from real corporations throughout the chapters to help readers understand the application of accounting principles and techniques in practice. They'll also find problems that are modeled on the AICPA 'Simulations' -- a new question format designed for the computerized uniform CPA Exam. These problems prepare readers for the exam, testing their ability to read, digest, research and respond to both a numeric problem and a short answer essay.