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In order to reflect the global business environment this eighth edition has been revised. The book emphasizes how data can be interpreted and used by management in planning and controlling business activities. Investors are shown how to use accounting information to make organizations and businesses more efficient and profitable. New features and chapters to this edition include: discussion of activity-based costing and cost management; gross profit and contribution margin analysis; international issues from a management point of view; implementing FASB requirements for cash flow statements; and more conceptual problems aimed at managerial issues and implications.