Abstract: This fifth edition of the most widely adopted text in the field demonstrates to novices how accounting issues interrelate with the legal profession. In an effort to make accounting as understandable as possible, this book uses a "learn by doing" approach, including: 1. Illustrative financial statements from Starbucks Corporation; and 2. Multiple problems using the financial statements from Amazon.com, Inc., Google Inc., and United Parcel Service, Inc. Designed for the law student with no accounting background, the fifth edition can also enable students with previous accounting experience to appreciate better how accounting concepts and financial statements affect legal issues. The first section of each chapter, entitled "Importance to Lawyers," explains how the topics discussed in that chapter affect the practice of law.