FINANCIAL ACCOUNTING: Information for Decisions, 5th Edition addresses the topics and issues typically covered in Financial Accounting while at the same time motivating student interest in accounting through the extensive use of entrepreneurial examples, application of analysis skills, integration of interactive tutorial software, and a highly engaging pedagogical design. This book thoroughly integrates ideas and practices followed by today's business entrepreneurs, speaking more directly to students and better preparing them to enter the workforce.
1 Introducing Accounting in Business
2 Analyzing and Recording Business Transactions
3 Adjusting Accounts and Preparing Financial Statements
4 Reporting and Analyzing Merchandising Operations
5 Reporting and Analyzing Inventories
6 Reporting and Analyzing Cash and Internal Controls
7 Reporting and Analyzing Receivables
8 Reporting and Analyzing Long-Term Assets
9 Reporting and Analyzing Current Liabilities
10 Reporting and Analyzing Long-Term Liabilities
11 Reporting and Analyzing Equity
12 Reporting and Analyzing Cash Flows
13 Analyzing and Interpreting Financial Statements
Appendix A: Financial Statements Information
Appendix B: Applying Present and Future Values
Appendix C: Investments and International Operations
*Appendix D: Reporting and Analyzing Partnerships
*Appendix E: Reporting and Preparing Special Journals
*Online at www.mhhe.com/wild5e
New to this Edition
- Integrated Apple iPod Content: Each chapter features icons connecting course content with learning resources available for download with the Apple iPod. Available downloads include audio-only lectures, lecture slideshows, narrated lecture slideshows, and educational videos.
- New Presentation of Transaction Analysis: Identify " Analyze " Record " Post: a more logical and simple presentation of transaction analysis that students understand. The change from the forth edition to this approach came directly from reviewer feedback.
- New IFRS (International Financial Reporting Standards) Quick Reference Guide: This reference toll sets the stage for IFRS mapping similarities and differences to GAAP for each text chapter in a handy 8-page laminated fold-out reference tool packaged free with new copies of the text.
- New IFRS (International Financial Reporting Standards) Boxes: These boxes reflect recent developments in the business world that are relevant to accounting practice and how IFRS may differ from current practices in the U.S. GAAP reporting.
- New Global View section: Financial accounting according to U.S. GAAP is similar, but not identical, to IFRS. Towards the end of each chapter, a new "Global View? section highlights international accounting practices, including the similarities and differences for financial reporting under IFRS versus U.S. GAAP relating to topics covered within that chapter. Most chapters use GOME's financial statements as compared to Best Buy to illustrate the differences/similarities between these financial reporting rules and concepts.
- New Feature Company: Students are provided relevant, real-world companies as a resource tool and motivating force in learning accounting. Best Buy is the new feature company, which means that each chapter has selected assignments that require student to use, analyze, or interpret its accounting data.
- New Comparative Companies: For comparative purposes with Best Buy, students are provided the financial statements of RadioShack. Assignments are included that ask students to compare and interpret Best Buy, and RadioShack data. GOME, a Hong Kong based-company, serves as a global comparison for Best Buy and RadioShack Selected 2009 financial data for all three companies is included in end-of-book Appendix A. Each of these companies is integrated into the end-of-chapter material. Finally, Apple financial statements are also included along assignments for each chapter.
- NEW! McGraw-Hill's Connect uses end-of-chapter material pulled directly from the textbook to create static and algorithmic questions that can be used for practice, homework, quizzes, and tests. FA 5e Connect also includes The Personal Learning Plan (PLP) that connects each student to the learning resources needed for success in the course. For each chapter, students: Take a practice test to initiate the Personal Learning Plan; Immediately upon completing the practice test, see how their performance compares to chapter learning objectives within chapters; Receive a Personal Learning Plan that recommends specific readings from the text, supplemental study material, and practice work that will improve their understanding and mastery of each learning objective. All new texts come bundled with Connect Plus at no additional cost.
- Entrepreneurial Chapter Openers and Follow Up Assignments: Each chapter is launched with a Decision Feature that introduces an engaging entrepreneurial scenario and shows the relevance of accounting to business. These companies are specifically chosen as motivating forces for students in that they typically reflect hip, innovative, and entertaining entrepreneurs that have successfully applied accounting data. Decision Feature openers are connected to the end-of-chapter material with the Entrepreneurial Decision follow-up assignment, which uses the same entrepreneurial business in the opener to apply one or more learning objectives from the chapter.
- Multiple Choice Quiz: A multiple choice quiz is included at the end of each chapter to check students on their comprehension of the materials read. This quiz is in addition to an interactive quiz, which continues to be provided on the book's Website.
- Exhibits and Art: The exhibits throughout the book have been updated and revised as necessary to reflect recent data and developments in practice. All artwork has been updated for improved visual learning.
- Marginal Annotations: Marginal annotations have been updated to include new data when applicable.
- Decision Insights: Most Decision Insight boxes are new and reflect recent developments in the business world that are relevant to accounting practice. Many also feature Sarbanes-Oxley based content.
- Decision Analysis: The Decision Analysis section at the end of each chapter has been updated to include new or revised company information, analysis, and interpretation. New industry and comparative data are provided where applicable.
- The Decision Center provides students with a framework that reinforces the relevance of accounting information to make business decisions. The Decision Center is showcased inside the front cover and is used throughout the text. The following pedagogical tools reinforce the Decision Center framework:
- Decision Feature vignettes open each chapter. All chapter openers use a real world, entrepreneurial company. The entrepreneurial flavor is unique to this textbook " providing additional motivation and interest to students.
- Decision Maker feature develops critical thinking and decision-making skills by requiring business decisions using accounting information. Each chapter contains two to four of these features. They are purposely chosen to reflect different kinds of users. Examples include investors, consultants, programmers, financial planners, analysts, and creditors. Guidance answers are provided at the end of each chapter.
- Decision Ethics feature requires readers to make accounting and business decisions with ethical consequences. It uses role-playing to show the interaction of judgment and ethics, the need for ethical awareness, and the impact of ethics. Guidance answers are provided at the end of each chapter.
- Decision Insight feature highlights interesting and current items from practice that are relevant for accounting. This element helps students link accounting directly to business activities.
- Decision Analysis section concludes each chapter and emphasizes critical thinking and decision-making skills. Each section introduces one or more tools (ratios) of analysis. It applies these tools to actual companies and evaluates the findings. This section often compares (benchmarks) the performance and financial condition of a company with its competitors.
- Beyond the Numbers special set of assignment materials that reinforce critical thinking skills and decision making with real company examples and Internet applications. There are up to ten types of these assignments in each chapter, including:
- Reporting in Action requires analysis and use of Best Buy's accounting data. The unique FastForward feature allows use of the most current Best Buy information in the marketplace.
- Comparative Analysis compares the performance and financial condition of Best Buy and RadioShack. These activities help develop analytical and evaluation skills.
- Ethics Challenge confronts ethical concerns based on chapter material. Many of these challenges involve actions where the ethical path is blurred.
- Communicating in Practice exercises aim at applying accounting knowledge to develop written and verbal communication skills.
- Taking It to the Net requires accessing a Web site and obtaining information relevant to the chapter. It aims to make readers familiar with online information and aware of the power of Web technology.
- Teamwork in Action assignments require preparing, analyzing, and using information in teams. They can be completed in or outside of class. These active learning activities reinforce understanding of key topics and help develop interpersonal skills.
- Entrepreneurial Decision requires readers to apply chapter content and use accounting information to make business decisions in an entrepreneurial setting.
- Hitting the Road activities require readers to work outside of the book and often apply interpersonal and communication skills. Tasks range from visits to local merchandisers and phone interviews to critical observations of business activities. These assignments help readers understand and appreciate the relevance of accounting.
- Global Decisions require analysis and evaluation of international companies, such as Gome, using accounting information.
- CAP Learning Objectives Model categorizes and color-codes learning objectives based on whether they are Conceptual, Analytical, or Procedural. This model helps instructors select and execute a focus for their course. These objectives link text material to the assignments along with additional links to the Test Bank, Solutions Manual, and the Instructor's Resource Manual.
- Chapter Linkages (A Look Back, A Look at this Chapter, A Look Ahead) launch each chapter and establish bridges between prior, current, and upcoming chapters. This organizational tool assists readers in effectively learning the materials and helps them link concepts across topics.
- Financial Statements of familiar companies are used to acquaint readers with the format, content, and use of accounting information. The financial statements for Best Buy, RadioShack, Gome, and Apple are reproduced in the book and referenced often.
- Quick Check boxes in the chapter reinforce the immediately preceding materials. They allow the reader to momentarily pause and reflect on the topics described. They give immediate feedback on the reader's comprehension before moving along to new topics. Answers are provided at the end of each chapter.
- Varied End of Chapter Materials including: glossary, summary, guidance answers to Decision Maker and Ethics features, guidance answers to Quick Check, demonstration problem, questions, quick studies, exercises, check figures, problems, alternate problems, and the Beyond The Numbers section.
- Comprehensive and Serial Problems are included in several chapters and focus on multiple learning objectives from multiple chapters. They integrate and summarize key principles. They can also act as brief "practice sets? incorporating real world scenarios and technology.
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