The financial accounting course is taken by all business majors, usually in their sophomore year. Financial accounting reports summarize the financial health, operating results, and
changes in financial status for a business as viewed over a specific period of time. This information is used by outside parties such as stockholders, creditors, prospective investors,
regulatory agencies, and the general public. The financial accounting market can be segmented into three categories: preparer (traditional), balanced, and user (innovative).
Spiceland/Thomas/Herrmann falls into the balanced segment by offering a balance between the user and preparer orientation. The decision maker’s perspective used throughout the book competes
directly with Kimmel’s pedagogical approach.
