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This edition now has chapter navigators to guide students through each chapter, pointing out those pedagogical and textual features that should help them make the most of the book and prioritize information in each chapter. Tips and strategies written by accounting students are used to annotate the student version of this edition. They tell the best ways to use the book and navigate through the course. Real-world examples have been incorporated continuously to show students the relevance of the accounting principles. Earlier introduction to financial statements has been incorporated with a Annual Report, Kelloggs, Inc., added and also shrinkwrapped with the text. This report can be contrasted with the General Mills financial statements now introduced in chapter one in order to complete the comparative analysis cases in every chapter. Additional user-oriented end of chapter material is added to each chapter: financial analysis on the Web cases; comparative analysis problems; problems using real financial statements; and research assignments. This text also provides demonstration problems that follow immediately after difficult concepts.