Saturday, June 16, 2012

Schaum's Outline of Intermediate Accounting II, 2ed (Schaum's Outline Series) Review

Schaum's Outline of Intermediate Accounting II, 2ed (Schaum's Outline Series)
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Thus far, I have been fairly impressed with the quality and consistency of Schaum's Outlines. While I can't fairly evaluate this book's usefulness to CPA candidates, I believe that Baruch Englard's Intermediate Accounting II provides an excellent supplement to those pursuing the CFA curriculum or students studying accounting.
I appreciated Englard's attention to accuracy - I found few errors or discrepancies (but hey that could just be me!). To his credit, he also has a good way of explaining things.
The book's copyright is 1992, but the chapter material was still very relevant. The fundamental concepts presented in the book seem to have lasting value.
Most valuable to me were chapters covering Long-Term Liabilities, Dilutive Securities and Earnings Per Share, Revenue Recognition Issues, Accounting for Leases, Statement of Cash Flows, Accounting for Pensions and Deferred Income Taxes. All of these topics are currently studied under the CFA curriculum. Englard's accounting perspective broadens the financial analysts focus and thus makes the book a very worthwhile read.
Chapter end review problems provide readers with ample opportunity to further understand concepts. I commend Schaum's Outlines for being consistent with this general format. It facilitates one's learning and increased interest in topical studies.

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