- presents meaningful and realistic examples guiding users in the application of GAAP to complex fact situations that must be dealt with in the real world practice of accounting
- Explains the theory of GAAP in sufficient detail to serve as a valuable adjunct to accounting textbooks. One does not need any other 'academic' book alongside.
- Much more than merely a reiteration of currently promulgated GAAP, it provides the user with the underlying conceptual bases for the rules, in order to facilitate the process of reasoning by analogy that is so necessary in dealing with the complicated, fast-changing world of commercial arrangements and transaction structures.
Finance goes through cycles, shifts and fads, which have significant resemblances. A financial history primer which covers this reasoning by analogy, is therefore worth its weight in gold.