,UNDERSTANDING FINANCIAL
STATEMENTS
NINTH EDITION
Lyn M. Fraser
Aileen Ormiston
Prentice Hall
Boston Columbus Indianapolis New York San Francisco Upper Saddle River
Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto
Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo
, Editorial Director: Sally Yagan Cover Designer: Margaret Kenselaar
Editor in Chief: Eric Svendsen Manager, Rights and Permissions: Charles Morris
Acquisitions Editor: Julie Broich Manager, Cover Visual Research & Permissions:
Editorial Project Manager: Kierra Kashickey Karen Sanatar
Editorial Assistant: Christina Rumbaugh Cover Art: Hola Images/Getty Images
Director of Marketing: Patrice Lumumba Jones Lead Media Project Manager: Denise Vaughn
Marketing Manager: Elizabeth Averbeck Media Project Manager, Production: Lisa Rinaldi
Marketing Assistant: Ian Gold Full-Service Project Management/Composition:
Senior Managing Editor: Judy Leale TexTech International Pvt Ltd
Project Manager: Becca Richter Printer I Binder: STP Command Web
Senior Operations Supervisor: Arnold Vila Cover Printer: STP Command Web
Operations Specialist: Ben Smith Text Font: 10.5/12 Palatino
Art Director: Jayne Conte
Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this
textbook appear on appropriate page within text.
Copyright© 2010,2007,2004,2001 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street,
Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of
America. This publication is protected by Copyright, and permission should be obtained from the
publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form
or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to
use material from this work, please submit a written request to Pearson Education, Inc., Permissions
Department, One Lake Street, Upper Saddle River, New Jersey 07458.
Many of the designations by manufacturers and seller to distinguish their products are claimed as
trademarks. W here those designations appear in this book, and the publisher was aware of a trademark
claim, the designations have been printed in initial caps or all caps.
Library of Congress Cataloging-in-Publication Data
Fraser, Lyn M.
Understanding financial statements I Lyn M. Fraser, Aileen Ormiston. -9th ed.
p. em.
Includes bibliographical references and index.
ISBN 0-13-608624-1
1. Financial statements. 2. Corporation reports. I. Ormiston, Aileen.
11. Title.
HF5681. B2F764 2010
657'.3-dc22 2009000268
10 9 8 7 6 5 4
Prentice Hall
is an imprint of
'
PEARSON ISBN-10: 0-13-608624-1
------
www.pearsonhighered.com ISBN-13: 978-0-13-608624-6
, For Eleanor
-Lyn M. Fraser
For my father, Mike, Josh, and Jacqui
-Aileen Ormiston
STATEMENTS
NINTH EDITION
Lyn M. Fraser
Aileen Ormiston
Prentice Hall
Boston Columbus Indianapolis New York San Francisco Upper Saddle River
Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto
Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo
, Editorial Director: Sally Yagan Cover Designer: Margaret Kenselaar
Editor in Chief: Eric Svendsen Manager, Rights and Permissions: Charles Morris
Acquisitions Editor: Julie Broich Manager, Cover Visual Research & Permissions:
Editorial Project Manager: Kierra Kashickey Karen Sanatar
Editorial Assistant: Christina Rumbaugh Cover Art: Hola Images/Getty Images
Director of Marketing: Patrice Lumumba Jones Lead Media Project Manager: Denise Vaughn
Marketing Manager: Elizabeth Averbeck Media Project Manager, Production: Lisa Rinaldi
Marketing Assistant: Ian Gold Full-Service Project Management/Composition:
Senior Managing Editor: Judy Leale TexTech International Pvt Ltd
Project Manager: Becca Richter Printer I Binder: STP Command Web
Senior Operations Supervisor: Arnold Vila Cover Printer: STP Command Web
Operations Specialist: Ben Smith Text Font: 10.5/12 Palatino
Art Director: Jayne Conte
Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this
textbook appear on appropriate page within text.
Copyright© 2010,2007,2004,2001 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street,
Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of
America. This publication is protected by Copyright, and permission should be obtained from the
publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form
or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to
use material from this work, please submit a written request to Pearson Education, Inc., Permissions
Department, One Lake Street, Upper Saddle River, New Jersey 07458.
Many of the designations by manufacturers and seller to distinguish their products are claimed as
trademarks. W here those designations appear in this book, and the publisher was aware of a trademark
claim, the designations have been printed in initial caps or all caps.
Library of Congress Cataloging-in-Publication Data
Fraser, Lyn M.
Understanding financial statements I Lyn M. Fraser, Aileen Ormiston. -9th ed.
p. em.
Includes bibliographical references and index.
ISBN 0-13-608624-1
1. Financial statements. 2. Corporation reports. I. Ormiston, Aileen.
11. Title.
HF5681. B2F764 2010
657'.3-dc22 2009000268
10 9 8 7 6 5 4
Prentice Hall
is an imprint of
'
PEARSON ISBN-10: 0-13-608624-1
------
www.pearsonhighered.com ISBN-13: 978-0-13-608624-6
, For Eleanor
-Lyn M. Fraser
For my father, Mike, Josh, and Jacqui
-Aileen Ormiston
