The accounting student faces the formidable task of learning every aspect of accounting, which covers an immense range of topics. The Principles of Accounting textbook covers the essentials, including how to record transactions, close the books, and produce financial statements. It also addresses the accounting for cash, investments, receivables, inventory, fixed assets, liabilities, and equity. In addition, the textbook describes how to account for payroll, the many ways to track costs, and the various approaches to setting up a budget and deciding whether to purchase assets. The intent is to provide the student with a firm grounding in fundamental accounting concepts, which we reinforce with hundreds of examples. Principles of Accounting is so comprehensive that it may be used as a desk reference after students have become professional accountants.