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 FOR NON-SPECIALISTS
AND FINANCE
ACCOUNTING

F01 Accounting and Finance for Non 44013 Contents.indd 1 24/10/2018 14:42
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F01 Accounting and Finance for Non 44013 Contents.indd 2 24/10/2018 14:42
 ELEVENTH EDITION

ACCOUNTING
AND FINANCE
FOR NON-SPECIALISTS
Peter Atrill
Eddie McLaney

Harlow, England • London • New York • Boston • San Francisco • Toronto • Sydney
Dubai • Singapore • Hong Kong • Tokyo • Seoul • Taipei • New Delhi
Cape Town • São Paulo • Mexico City • Madrid • Amsterdam • Munich • Paris • Milan

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First published 1995 by Prentice Hall Europe (print)

Second edition published 1997 (print)
Third edition published 2001 by Pearson Education Ltd (print)
Fourth edition published 2004 (print)
Fifth edition published 2006 (print)
Sixth edition published 2008 (print)
Seventh edition published 2011 (print)
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ISBN: 978-1-292-24401-3 (print)

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Library of Congress Cataloging-in-Publication Data
Names: Atrill, Peter, author. | McLaney, E. J., author.
Title: Accounting and finance for non-specialists / Peter Atrill, Eddie McLaney.
Description: Eleventh edition. | Harlow, England ; New York : Pearson, [2019]
Identifiers: LCCN 2018035220| ISBN 9781292244013 | ISBN 9781292244051 (PDF) |
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Subjects: LCSH: Accounting. | Financial statements.
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F01 Accounting and Finance for Non 44013 Contents.indd 4 24/10/2018 14:42
 Brief contents

Preface xv
Acknowledgements xvii

1 Introduction to accounting and finance 1

Part One FINANCIAL ACCOUNTING 27

2 Measuring and reporting financial position 28

3 Measuring and reporting financial performance 72
4 Accounting for limited companies 113
5 Measuring and reporting cash flows 162
6 Analysing and interpreting financial statements 194

Part Two MANAGEMENT ACCOUNTING 245

7 The relevance and behaviour of costs 246

8 Full costing 285
9 Budgeting 327

Part Three FINANCE 365

10 Making capital investment decisions 366

11 Financing a business 408
12 Managing working capital 456

Appendix A: Glossary of key terms 504

Appendix B: Solutions to self-assessment questions 517
Appendix C: Solutions to critical review questions 532
Appendix D: Solutions to selected exercises 544
Appendix E: Present value table 572
Index 574

BRIEF CONTENTS v

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F01 Accounting and Finance for Non 44013 Contents.indd 6 24/10/2018 14:42
 Contents

Preface xv
Acknowledgements xvii

1 Introduction to accounting and finance 1

Introduction 1
What are accounting and finance? 2
Who are the users of accounting information? 2
Providing a service 5
Weighing up the costs and benefits 7
Accounting as an information system 10
Management accounting and financial accounting 11
Scope of this book 14
The changing face of accounting 14
Why do I need to know anything about accounting and finance? 16
The quest for wealth creation 17
Meeting the needs of other stakeholders 18
Balancing risk and return 20
Not-for-profit organisations 22
Summary 24
Key terms 25
Reference 26
Further reading 26
Critical review questions 26

Part One FINANCIAL ACCOUNTING 27

2 Measuring and reporting financial position 28

Introduction 28
The major financial statements – an overview 29
The statement of financial position 33
The effect of trading transactions 42

CONTENTS vii

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 Classifying assets 44
Classifying claims 46
Statement layouts 47
Capturing a moment in time 49
The role of accounting conventions 51
Money measurement 55
Valuing assets 58
Meeting user needs 63
Summary 65
Key terms 67
Reference 68
Further reading 68
Critical review questions 68
Exercises 69

3 Measuring and reporting financial performance 72

Introduction 72
The income statement 73
Different roles 74
Income statement layout 75
Further issues 77
Recognising revenue 81
Recognising expenses 83
Depreciation 89
Costing inventories 98
Trade receivables problems 103
Uses and usefulness of the income statement 105
Summary 106
Key terms 108
Further reading 108
Critical review questions 109
Exercises 109

4 Accounting for limited companies 113

Introduction 113
The main features of limited companies 114
The role of the Stock Exchange 120
Managing a company 120
The UK Corporate Governance Code 123
Financing limited companies 125
Borrowings 133
Withdrawing equity 134

viii CONTENTS

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 The main financial statements 137
Dividends 140
Additional financial statements 142
The directors’ duty to account 145
The need for accounting rules 145
Sources of accounting rules 146
The auditors’ role 147
Management commentary 148
Creative accounting 150
Summary 154
Key terms 156
Further reading 157
Critical review questions 157
Exercises 158

5 Measuring and reporting cash flows 162

Introduction 162
The statement of cash flows 163
Why is cash so important? 164
The main features of the statement of cash flows 166
A definition of cash and cash equivalents 166
The relationship between the main financial statements 168
The layout of the statement of cash flows 168
The normal direction of cash flows 171
Preparing the statement of cash flows 174
What does the statement of cash flows tell us? 184
Summary 187
Key terms 188
Further reading 188
Critical review questions 188
Exercises 189

6 Analysing and interpreting financial statements 194

Introduction 194
Financial ratios 195
Financial ratio classifications 196
The need for comparison 197
Calculating the ratios 199
A brief overview 200
Profitability 201
Efficiency 208
Relationship between profitability and efficiency 214

CONTENTS ix

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 Liquidity 216
Financial gearing 219
Investment ratios 224
Trend analysis 233
Using ratios to predict financial failure 234
Limitations of ratio analysis 234
Summary 237
Key terms 239
Further reading 239
Critical review questions 239
Exercises 240

Part Two MANAGEMENT ACCOUNTING 245

7 The relevance and behaviour of costs 246

Introduction 246
What is meant by ‘cost’? 247
Relevant costs: opportunity and outlay costs 248
Cost behaviour 252
Fixed cost 253
Variable cost 255
Semi-fixed (semi-variable) cost 256
Finding the break-even point 257
Contribution 262
Margin of safety 263
Operating gearing and its effect on profit 266
Weaknesses of break-even analysis 268
Using contribution to make decisions: marginal analysis 270
Summary 279
Key terms 281
Further reading 281
Critical review questions 281
Exercises 282

8 Full costing 285

Introduction 285
What is full costing? 286
Why do managers want to know the full cost? 286
Single-product businesses 288
Multi-product businesses 289

x CONTENTS

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 Overheads as service renderers 295
Activity-based costing 308
Using full (absorption) cost information 316
Summary 319
Key terms 321
Further reading 321
Critical review questions 321
Exercises 322

9 Budgeting 327
Introduction 327
How budgets link with strategic plans and objectives 328
Time horizon of plans and budgets 330
How budgets help managers 331
Budgets and forecasts 333
Limiting factors 334
How budgets link to one another 334
Using budgets in practice 337
Preparing budgets 338
Non-financial measures in budgeting 345
Budgeting for control 345
Measuring variances from budget 346
Making budgetary control effective 353
Behavioural issues 354
The use of variance analysis 355
Summary 357
Key terms 359
Further reading 359
Critical review questions 359
Exercises 360

Part Three FINANCE 365

10 Making capital investment decisions 366

Introduction 366
The nature of investment decisions 367
Investment appraisal methods 368
Accounting rate of return (ARR) 370
Payback period (PP) 375
Net present value (NPV) 379

CONTENTS xi

F01 Accounting and Finance for Non 44013 Contents.indd 11 24/10/2018 14:42
 Why NPV is better 386
Internal rate of return (IRR) 387
Some practical points 392
Investment appraisal in practice 396
Investment appraisal and strategic planning 398
Summary 399
Key terms 401
Further reading 401
Critical review questions 402
Exercises 402

11 Financing a business 408

Introduction 408
The main objective of financing policy 409
Sources of finance 409
Internal sources of finance 409
Internal sources of long-term finance 410
Internal sources of short-term finance 411
External sources of finance 414
External sources of long-term finance 414
Forms of borrowing 418
External sources of short-term finance 428
Long-term versus short-term borrowing 430
Gearing and the financing decision 432
Share issues 433
The role of the Stock Exchange 438
The Alternative Investment Market 441
Providing long-term finance for the small business 442
Islamic finance 446
Summary 448
Key terms 451
References 451
Further reading 451
Critical review questions 452
Exercises 452

12 Managing working capital 456

Introduction 456
What is working capital? 457
The scale of working capital 459
Managing inventories 462
Managing trade receivables 473

xii CONTENTS

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 Managing cash 484
Managing trade payables 492
Managing working capital 493
Summary 496
Key terms 499
Further reading 499
Critical review questions 499
Exercises 500

Appendix A: Glossary of key terms 504

Appendix B: Solutions to self-assessment questions 517
Appendix C: Solutions to critical review questions 532
Appendix D: Solutions to selected exercises 544
Appendix E: Present value table 572
Index 574

Lecturer Resources ON THE

WEBSITE
For password-protected online resources tailored to
support the use of this textbook in teaching, please visit
www.pearsoned.co.uk/atrillmclaney

CONTENTS xiii

F01 Accounting and Finance for Non 44013 Contents.indd 13 24/10/2018 14:42
F01 Accounting and Finance for Non 44013 Contents.indd 14 24/10/2018 14:42
 Preface

This book provides an introduction to accounting and finance. It is aimed at:

■ Students who are not majoring in accounting or finance, but who are, nevertheless,
studying introductory-level accounting and finance as part of their course. The course may
be in business, economics, hospitality management, tourism, engineering or some other
area. For these students, the book provides an overview of the role and usefulness of
accounting and finance within a business or some other organisation.
■ Students who are majoring in either accounting or finance. These students should find
the book a helpful introduction to the main principles, which can serve as a foundation
for further study.

The book does not focus on technical issues, but rather examines basic principles and
underlying concepts. The primary concern throughout is the ways in which financial state-
ments and information can be used to improve the quality of the decisions made by those
who use them. To reinforce this practical emphasis, throughout the text, there are numerous
illustrative extracts with commentary from real life including company reports, survey data
and other sources.
The text is written in an ‘open-learning’ style. This means there are numerous integrated
activities, worked examples and questions throughout each of the chapters to help you
understand the topics fully. In framing these questions and tasks, we have tried to encour-
age critical thinking by requiring analysis and evaluation of various concepts and tech-
niques. To help broaden understanding, questions and tasks often require readers to go
beyond the material in the text and/or to link the current topic with material covered earlier
in the book. Readers are encouraged to interact with the material and to check their prog-
ress continually. Irrespective of whether they are using the book as part of a taught course
or for personal study, we have found that this approach is more ‘user-friendly’ and makes
it easier for them to learn.
We recognise that most readers will not have studied accounting or finance before, and
we have therefore tried to write in a concise and accessible style, minimising the use of
technical jargon. We have also tried to introduce topics gradually, explaining everything as
we go. Where technical terminology is unavoidable we try to provide clear explanations. In
addition, you will find all of the key terms highlighted in the text. These are then listed at the
end of each chapter with a page reference. They are also listed alphabetically, with a con-
cise definition, in the glossary given in Appendix A towards the end of the book. This should
provide a convenient point of reference from which to revise.

PREFACE xv

F01 Accounting and Finance for Non 44013 Contents.indd 15 24/10/2018 14:42
 A further consideration in helping readers to understand and absorb the topics covered
is the design of the text itself. The page layout and colour scheme have been carefully
considered to enable easy navigation and digestion of material. The layout features a large
page format, an open design and clear signposting of the various features and assessment
material.
In this eleventh edition, we have taken the opportunity to make improvements suggested
by students and lecturers who used the previous edition. We have, for example, substantially
revised the discussion of the conceptual framework of accounting to reflect the very recent
statements of the International Accounting Standards Board. We have updated and
expanded the number of examples from real life and have continued to reflect the latest
international rules relating to the main financial statements. To aid understanding, we have
also increased the number of student progress questions (Activities) and explanatory
diagrams.
This text is supported by its own MyLab Accounting which is an environment that gives
unlimited opportunities for practice using a range of questions, and which provides timely
feedback. Updates to MyLab Accounting for the 11th Edition include the addition of Case
Studies that will be of use to encourage application of concepts to realistic business sce-
narios. Another notable tool within the MyLab is Accounting in Action: a feature that provides
an extended scenario focusing on a small business as it develops, which contains work for
readers to do; its aim is to bring together the reader’s understanding of a number of
concepts.
For access to MyLab Accounting, students need both a course ID and an access card
(see the advert on the inside back cover of the book).
For lecturers, the diagrams in the text, along with other diagrams and key learning points,
are available as PowerPoint slides. These, plus an Instructor’s Manual, can be downloaded
from the ‘Instructor resources’ section of the website www.pearsoned.co.uk/
atrillmclaney.
Finally, the editorial team at Pearson would like to thank the following reviewers for their
very valuable comments on the book:

Karen McFarlane, Glasgow Caledonian University

Steve Astbury, INTO University of Exeter
Dr Peng Wang, Southampton University
Dr Yasser Eliwa, Loughborough University
Mr David Carpenter, Aston University
Elayne Taylor, University of Dundee

We hope that you will find the book readable and helpful.

Eddie McLaney
Peter Atrill

xvi PREFACE

F01 Accounting and Finance for Non 44013 Contents.indd 16 24/10/2018 14:42
 Acknowledgements

11 Telegraph Media Group Limited: © Telegraph Media Group Limited 2015. 18 Based
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October 2017. 19 Based on information in M. Nisen (2013) How Nike Solved It Sweatshop
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ian News & Media Limited: Copyright Guardian News & Media Ltd 2018. 56 Brand
Finance: Global 500, 2017 Brand finance directory www.branddirectory.com Accessed 11
August 2018. 57 Tottenham Hotspur Ltd: Tottenham Hotspur plc, Annual reports 2015
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mysteries of Britain’s economy’, Financial Times, 23 April. © The Financial Times Limited
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lifeline to football clubs’, The Telegraph Media Group Limited, 6 July. 118–19 kantar
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2017’, Kantar World Panel, www.kantarworldpanel.com. 123–24 Financial Reporting

ACKNOWLEDGEMENTS xvii

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 Council: Adapted from Financial Reporting Council (2016) UK Corporate Governance Code,
April, pages 5 and 6, www.frc.org.uk. 128 The Financial Times Limited: Extract from
Thomas, N. (2016) ‘JD Sports proposes share split to improve liquidity’, Financial Times,
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mation taken from Ryanair Holdings plc, Annual Report 2017, p. 137. 132 Morningstar:
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Report, June, p. 20. 151–52 NI Syndication: Based on information in ‘Dirty laundry: how
companies fudge the numbers’, The Times, Business Section, 22 September 2002, nisyn-
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lems Undermine Four In Ten Small Firms, https://amicusplc.co.uk 7th December. 171
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flows, www.reports.shell.com. Quote from http://reports.shell.com/annual-report/2016/
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margins are falling’, 4 November; Reuters: BNN (2017) ‘Volvo shares jump over new margin
target’, www.bnn.ca, 1 September; Crain Communications, Inc: Greimel, H. (2016) ‘Nissan
backs off profit targets’, Autonews, 31 July; The Financial Times Limited: McGee, P. (2016)
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xviii ACKNOWLEDGEMENTS

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 Limited 2017. All Rights Reserved. 226–28 The Financial Times Limited: Smith, T. (2014)
‘How investors ignored the warning signs at Tesco’, Financial Times, 5 September. © The
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mation taken from: Bahari, B. (2017), ‘MAS targets profit by 2018’, New Straits Times, 17
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ACKNOWLEDGEMENTS xix

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Drive, Saguaro National Monument
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Title: Cactus Forest Drive, Saguaro National Monument

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Language: English

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*** START OF THE PROJECT GUTENBERG EBOOK CACTUS FOREST

DRIVE, SAGUARO NATIONAL MONUMENT ***
 Cover picture by George Olin.

Cactus Forest Drive

SAGUARO NATIONAL MONUMENT
18 Miles East of Tucson, Arizona

15¢

i
NATIONAL PARKS AND MONUMENTS

Saguaro National Monument is one of more than 175 units

administered by the National Park Service, U. S. Department of the
Interior. They include such outstanding scenic areas as Grand Canyon
and Yosemite National Parks and other Parks and Monuments set
aside for their scenic, scientific, historic or archeologic values. These
superb areas are yours and are a part of your heritage as American
citizens.

The National Park Service has the job of preserving the Parks and
Monuments in their natural, unspoiled condition and of making them
available for your enjoyment in such a manner as to leave them
unimpaired for the inspiration of future generations. To achieve this
high purpose it has been necessary to prohibit such activities as
woodcutting, hunting, grazing, mining and even flower-picking. The
men in the uniform of the National Park Service are here to serve
you, and will welcome the opportunity to make your stay at Saguaro
National Monument more enjoyable.
We hope you will cooperate with us “by taking only pictures and
inspiration and leaving only footprints and goodwill.”

TIPS TO PHOTOGRAPHERS

Photographers will note that several trails have been laid out for their
convenience. These lead to particularly fine specimens and groups of
Saguaros, but have not been developed as permanent trails. They are
merely guides to the better photographic locations.

The best time to photograph the Cactus Forest is late in the

afternoon when the lengthening shadows make the cactus stand out
in bold relief. Excellent views of the forest, with the Santa Catalina
Mountains in the background, may be had from the hilltops as you
drive north on the loop road. The Arizona sun is brighter than you
think, so use a light meter.

CONSERVATION—CAN A LAYMAN HELP?

If you are interested in the work of the National Park Service and in
the cause of conservation in general, you can give active expression
of this interest, and lend support by aligning yourself with one of the
numerous conservation organizations which act as spokesmen for
those who wish our scenic heritage to be kept unimpaired for the
enjoyment of future generations.

Names and addresses of conservation organizations may be obtained

from the ranger.

KEEP AMERICA BEAUTIFUL

1
Ray Manley photo
THE NATIONAL MONUMENT 2

In 1933 President Herbert Hoover by presidential proclamation

created Saguaro National Monument. Within its boundaries is found
the magnificent forest of mature Saguaros that is recognized as the
finest stand of this great cactus in the United States. It is one of the
few National Monuments dedicated to the protection and preservation
of a native plant species.

It is also one of the most diversified of our National Monuments. With

an altitudinal range of over 5,000 feet its 63,000-acre area
encompasses the peaks of two mountain ranges. Against this
background of towering mountains the cactus forest is presented as a
rare jewel mounted in an incomparable setting.

THE GIANT CACTUS

The Saguaro (Carnegiea gigantea) is the largest cactus native to the
United States. Common in northwestern Mexico, its range north of
the border is limited to southern Arizona, with the exception of a few
isolated small colonies along the California side of the Colorado river.
It grows on low desert plains and foothills in the hot dry climate of
the Lower Sonoran Zone. A prominent feature of this desert
landscape is the great variety of xerophytic (especially modified to
exist on limited water supply) plants, especially the cacti. In response
to the arid conditions under which it must survive the Saguaro
exhibits a degree of adaptability equalled by few plants anywhere.

The construction of the Saguaro is simple, yet effective. The stem is

supported by an inner framework of from 12 to 30 slender vertical
ribs. Arranged in a circle and joined at various places these ribs form
an openwork tube that possesses great strength and rigidity. In and
around this tube is a spongy tissue capable of absorbing a great
amount of water. This is facilitated by the accordion-like pleats of the
interior surface of the stem. These extend or close together as the
moisture content of the plant increases or diminishes.

The roots that serve this living storage tank are no less remarkable.
The tap root is small and acts as little more than a pad to support the
great weight of the plant. The radial roots are heavy and of great
length. They radiate out from the base of the Saguaro, usually no
more than a foot below the surface of the ground, but often to a
distance equal to the height of the plant. They serve the double
purpose of gathering food and moisture, and of holding the great
bulk of the trunk upright against the fierce desert storms. In their
progress through the rocky soil in which the Saguaro usually 3
grows they become contorted and act as anchors which are not
easily dislodged.
 George Olin Photo
The red pulp and shiny black seeds of the Saguaro fruit are eagerly
taken by almost all animals. Even man finds it delicious. The scarlet
lining of the opened and split pod is often mistaken by newcomers
for a red flower.
 Ray Manley Photo
The Saguaro blooms at night, and on bright days closes about 10 the
next morning. They attract swarms of insects, which in turn lure
many birds. This is the state flower of Arizona and blooms in May and
June.
The associations of the Saguaro with other plants of the desert have
not as yet been fully studied. However, it is apparent that for the first
years of its life the young Saguaro seedling requires the protection
furnished by a shrub or tree. Here it makes slow but steady progress
until at 50 years of age it may be 10 to 12 feet tall. During the next
century it may attain a height of 40 feet and a weight of several tons,
dwarfing its protector of former years.

The ecological importance of the Saguaro to animals is better known.

Two species of Woodpeckers, the Gila Woodpecker and the Gilded
Flicker, drill deep holes into the plant and fashion nests in the cool
interior. Actually this causes little damage to the Saguaro, which soon
forms a thick scar tissue around the walls of the excavation, sealing it
away from the rest of the plant. In succeeding years these nests may
be taken over by Elf Owls, Sparrow Hawks, Flycatchers, or Purple
Martins. Larger birds build their nests among the branches of the
Saguaro. Chief among these are the Red Tail Hawks and Great
Horned Owls.

4
 Ray Manley Photo
YUCCA BLOOMS
Yucca elata (Palmilla, Soapweed) is one of the best known
plants of the Southwest. The beautiful white plumes of
flowers appear in May and June.

5
 CACTUS FOREST DRIVE

While at Saguaro you will find it is desirable to take advantage of the

recreational and educational facilities provided for your use. After you
leave the Administration Building, signs along the 9.1-mile loop road
will direct your attention to special exhibits along the way. Each area
has been chosen because of features especially interesting to the
visitor. Limited exploring and hiking trips are encouraged along
Cactus Forest Drive. A picnic area provided with fireplaces, tables and
ramadas is located at the 8-mile point.

Among the many stops along the Cactus Forest Drive five have been
selected as especially important to an understanding of the natural
features of the Monument. Each has “in place” information which will
add to your appreciation of the Cactus Forest.

First Stop
ROCK PARAPET—Approximately 200 years ago prevailing climatic
conditions were of such nature as to permit germination of a large
number of Saguaro seeds, creating the more or less even-aged stand
of Giant Saguaros we see here today.

The Tanque Verde Mountains to the east are composed largely of

crystalline rocks formed under conditions of great heat and pressure.
They were elevated by movements of the earth’s crust and now are
gradually being eroded away.

The Tucson Valley to the north is in reality a deep canyon (2,000 to

3,000 feet) filled with debris.
Second Stop
CRISTATE SAGUARO—This abnormal growth, called a cristate, is of
rare occurrence. Many theories have been advanced as to what
causes these “crests” but none hold true in all cases. Although the
cause is unknown, the pattern of their growth is simple. Instead of
growing in three directions the cells of a cristate grow only upward
and outward in two. This results in a fan-shaped malformation with a
long growing line in the center of the upper edge. Although a cristate
may apparently develop from an injury, there is every reason to
believe that, once established, the tendency to cristate becomes a
genetic character. Seed from cristates often produce cristate plants.
An excellent specimen of cristate Barrel Cactus may be seen at the
entrance to the Nature Trail.

Third Stop
NATURE TRAIL—Along this 300-yard trail you will find most of the
important plants native to the Cactus Forest. Each plant is labelled
with both common and scientific names, together with much
additional information.

6
 THE DESERT AND THE MOUNTAINS

The Tanque Verde (green tank) and Rincon (inside corner)

Mountains are an important part of Saguaro National
Monument. This is presently the “back country” of the
monument. The mountainous section has a wide variety of
interests in the field of biology. The range of climates and
life zones combine to make one of the most interesting
stories to be found in any of your national parks or
monuments.

High-resolution Version

SAGUARO NATIONAL MONUMENT

ACREAGE—63,000
ELEVATION—2,600 to 8,590 ft.
N.W. CORNER
EL. 2,600 FT.
RINCON CREEK
PANTANO WASH
AGUA VERDE CREEK
CACTUS FOREST LOOP DRIVE
OBSERVATION HILL
OLD SPANISH TRAIL
VISITOR USE BLDG
 PARK HEADQUARTERS
LUNCH AREA
DESERT TO MOUNTAIN HWY.
JUNIPER BASIN
EL. 3,000 FT.
MICA MTN.
EL. 8,590 FT.
FOREST USE AREA
RINCON PEAK
EL. 8,465 FT.

7
 George Olin Photo
Redtail Hawk

This large Buteo is a common resident of the Monument. It

frequently nests among the arms of the Saguaro. Since its
 food consists mainly of small rodents it is one of the most
beneficial of our birds.

Fourth Stop
VIEW OF WEST SLOPE OF TANQUE VERDE MOUNTAINS—Saguaro
cacti growing up to an elevation of 4,000 feet.

The country you see here is a good example of what is called the
Lower Sonoran life zone. Here you may expect such typical desert
animals as the Roadrunner, Gambel Quail, Kangaroo Rat, Jackrabbit
and the Javelina or “wild pig”.

Fifth Stop
JAVELINA DEN (hah-veh-LEE-nah)—In these undercuts the Javelinas
(or Peccary) often hide during the day to escape from the heat of the
sun. At night many Javelinas are often present in this particular area
due to the abundance of Jojoba bushes.

From the view point near the Javelina Den a striking view may be
had of the distant Santa Cruz Valley. On a clear day seven mountain
ranges may be seen from this spot.

8
 Screech Owl—These small grayish owls (usually with more
conspicuous “ear” tufts) are permanent and valued residents of the
Saguaro country. On their silent night-time hunts they eat great
numbers of mice and insects.
Western Box Turtle—Occasionally observed in the Cactus Forest.
 Gila (Hee-lah) Monster—The only poisonous lizard in the United
States; it is protected in Arizona by law. Its skin is beaded and its
color is marbled black with pinkish or yellowish. The Gila Monster
reproduces by eggs which are laid in the sand.
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