by William G. Droms and Jay O. Wright. Droms and Wright (both Georgetown Univ.) have updated their well-known book to include recent changes in accounting requirements, tax laws, financial management, corporate governance, mergers and acquisitions, and international finance. The book's 19 brief chapters are organized into seven sections: "Introduction," "Financial Accounting Fundamentals," "Financial Analysis and Control," "Working Capital Decisions," "Long-Term Investment Decisions," "Long-Term Financing Decisions," and "Special Topics in Finance." With a plethora of case studies and useful, step-by-step illustrations, the chapters provide readable, nontechnical insight into often-arcane accounting and financial principles and practices. Although this book is not a substitute for the in-depth coverage of a traditional textbook, it is an excellent practical guide and reference for anyone wanting a fundamental understanding of contemporary accounting and finance principles and practices. --Choice
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