I used this Textbook in my MBA Financial Accounting course at DePaul Unversity in Chicago, IL. I had very little knowledge of the topic before I took this class.
This book is well written, well organized, and is not too wordy. Because of the depth of this book and its brevity, every sentence is important and I found I had to reread chapters about three times before I really understood the material.
I did notice a few minor typos in the chapter exercises, but for the most part I found it extremely accurate.
This is a difficult subject and this book covers much material. Each chapter must be read carefully. To fully understand the material, I highly encourage doing the exercises in the back of each chapter. Houghton Mifflin has the answer keys in Excel files on their web site, but you need a password to get it.
I can understand the person who found this book confusing. I don't think this book is great for somebody new to the subject. But after getting your feet wet in the subject, this is an excellent text.
This book will make a wonderful reference for years to come. In fact, my father, a small business owner wants my copy.