Now readers can get all the accuracy and authority of the best selling intermediate accounting book in the new second edition of this brief, streamlined version! Fundamentals of Intermediate Accounting presents a balanced discussion of concepts and applications, explaining the rationale behind business transactions before addressing the accounting and reporting for those activities. Readers will gain a solid foundation in such areas as the standard setting process, the three major financial statements, revenue recognition, income taxes, reporting disclosure issues, and much more.