The Twelfth Edition of Advanced Financial Accounting is an up-to-date, comprehensive, and highly illustrated four-color presentation of the accounting and reporting principles and procedures used in a variety of business entities. Every day, the business press carries stories about the complexities of modern business entities, and students must know how to deal with the accounting and reporting ramifications of issues such as: - mergers and acquisitions - new organizational structures - accounting scandals related to complex transactions - foreign activities of multinational firms - operations of governmental and not-for-profit entities - bankruptcies of major firms - and more!