Corporate Financial Accounting,
16th Edition

1. Introduction to Accounting and Business.
2. Analyzing Transactions.
3. The Adjusting Process.
4. The Accounting Cycle.
Appendix 1: Preparing the End-of-Period Spreadsheet.
Appendix 2: Statement of Cash Flows – NetSolutions.
5. Accounting for Retail Businesses.
Appendix 1: Sales Discounts.
Appendix 2: Periodic Inventory System.
6. Inventories.
Appendix: Estimating Inventory Cost.
7. Internal Control and Cash.
8. Receivables.
9. Long-term Operating Assets: Fixed and Intangible.
10. Liabilities: Current, Installment Notes, and Contingencies.
11. Liabilities: Bonds Payable.
Appendix 1: Present Value Concepts for Pricing Bonds.
Appendix 2: Effective Interest Rate Method of Amortization.
12. Corporations: Organization, Stock Transactions, and Dividends.
13. Statement of Cash Flows.
14. Financial Statement Analysis.
Appendix: Spreadsheet for Statement of Cash Flows: Indirect Method.
Appendix A: Present Value Tables.
Appendix B: Selected Topics.
Topic 1: Investments.
Topic 2: Foreign Currency Transactions.
Topic 3: Corporate Taxes.
Topic 4: Reporting Unusual Items and Comprehensive Income.
Topic 5: Revenue Recognition.
Topic 6: International Accounting Standards.
Appendix C: Nike Inc Annual Report (10-K).
Appendix D: Reversing Entries (online).
Appendix E: Special Journals and Subsidiary Ledgers (online).
Appendix F: Spreadsheet for Statement of Cash Flows: Direct Method (online).
Glossary.
Index.

• Carl S. Warren

  Dr. Carl S. Warren is professor emeritus of accounting at the University of Georgia, Athens. For more than 25 years, Dr. Warren has taught all levels of accounting courses with a primary focus on introductory of accounting and auditing. Dr. Warren has taught classes at the University of Iowa, Michigan State University and the University of Chicago. He received his Ph.D. from Michigan State University and his B.A.A. and M.A. from the University of Iowa. During his career, Dr. Warren published numerous articles in professional journals, including The Accounting Review, Journal of Accounting Research, Journal of Accountancy, The CPA Journal and Auditing: A Journal of Practice and Theory. Dr. Warren’s outside interests include handball, backpacking, skiing, hiking, fly-fishing and golf. He also spends as much time as possible visting with his five grandchildren (two sets of twins) and riding his motorcycle. Dr. Warren resides in Montana.

• Jeff Jones

  Dr. Jefferson P. Jones is an associate professor of accounting in the School of Accountancy at Auburn University, where he teaches financial accounting and applied financial research courses. He received his B.A. and M.A. degrees from Auburn University and his Ph.D. from Florida State University. Dr. Jones has received numerous teaching awards, including the Auburn University Beta Alpha Psi Outstanding Teaching Award (eleven times), the Auburn University Outstanding Master of Accountancy Professor Teaching Award (five times), the Auburn University Outstanding Distance Master of Accountancy Teaching Award (three times) and the Auburn University College of Business McCartney Teaching Award. In addition, he has made numerous presentations around the country on research and pedagogical issues. Dr. Jones has public accounting experience as an auditor with Deloitte and Touche and holds a C.P.A. certificate in the state of Alabama (inactive). He is a member of the American Accounting Association, the American Institute of Certified Public Accountants (AICPA) and the Alabama Society of CPAs (ASCPA). His research interests focus on financial accounting, specifically investigating the quality of reported accounting information and accounting education. He has published articles in numerous journals, including Advances in Accounting, Review of Quantitative Finance and Accounting, Issues in Accounting Education, International Journal of Forecasting and The CPA Journal. When not at work, Dr. Jones enjoys playing golf and watching college football.

• NEW "USING DATA ANALYTICS" FEATURE DEMONSTRATES HOW DATA ANALYTICS RELATE TO EACH CHAPTER'S CONTENT. Students clearly see the importance of data analytics in managing a business today as this edition highlights the critical role of accounting in developing accurate, powerful data analytics.

• NEW END-OF-CHAPTER "DATA ANALYTICS TAKE IT FURTHER" ACTIVITIES GIVE STUDENTS HANDS-ON PRACTICE. These unique activities guide students in working with data analytics in financial accounting today using Excel and/or Tableau. Step-by-step instructions direct students in performing the analyses.

• NEW FOCUSED COVERAGE OF THE ACCOUNTING CYCLE EMPHASIZES WHY ACCRUAL BASIS OF ACCOUNTING IS REQUIRED BY GAAP. This edition's introduction to the accounting cycle (Ch. 4) now features a new learning objective: Why the accrual basis of accounting is required by GAAP. A new section at the end of the chapter uses the NetSolutions illustration from Chapters 1-4 to illustrate how accrual accounting presents a more accurate picture of a company's financial condition. This essential learning outcome is often missed in introductory accounting courses.

• NEW EMPHASIS SHOWS T-ACCOUNTS WITH ALL JOURNAL ENTRIES. This approach enables students to see the impact of the journal entry on the accounting equation and the financial statements. This presentation also reinforces the rules of debit and credit and is consistent with today’s accounting systems, where posting to accounts is often done when journal entries are recorded. The accounting equation and T-accounts are shown in smaller font so that the journal entry retains the student’s focus.

• NEW DISCUSSION HIGHLIGHTS THE IMPACT OF SALES INCENTIVES AND PROMOTIONS ON RETAIL ACCOUNTING. This edition's coverage of accounting for retail operations (Ch. 5) now emphasizes how retail sales incentives and promotions, such as sales coupons or rebates affect accounting. Students quickly identify with this new content because they are familiar with coupons such as "$5 off a large pizza" or "Buy 2 get 1 free" incentives.

• REVISED, STREAMLINED CONTENT CLARIFIES DISCUSSIONS OF ACCOUNTING FOR RETAIL OPERATIONS (CH. 5). In order to simplify discussion, the authors have moved coverage of the gross and net methods of accounting for sales discounts to an end-of-chapter appendix. The remaining, focused content now clearly emphasizes the basic differences between the gross and net methods without the complication of adjusting entries.

• NEW APPENDIX EXPLORES ADDITIONAL, RELEVANT ACCOUNTING TOPICS IN SELF-CONTAINED LEARNING MODULES. This edition's new Appendix A gives you the flexibility to cover select, related accounting topics within your course, based on the needs of your students. A variety of topics each appear in their own self-contained learning modules, complete with their own assignment materials. These independent modules are written so you can incorporate any of them seamlessly at various points throughout your course.

• REVISED APPENDIX FEATURES NIKE ANNUAL REPORT WITH HOMEWORK ASSIGNMENTS THAT CORRESPOND TO EACH CHAPTER. This updated Appendix C: Nike Annual Report (10-K) now offers homework assignments for every chapter. You can use all of the chapter assignments at one time to create an annual report project for your course, or you can choose to only use some of the assignments as your students progress.

• "ANALYSIS FOR DECISION MAKING" SECTIONS PUT PROCEDURES INTO CONTEXT. Each chapter ends with a section that uses actual situations to emphasize how real businesses today use accounting information to make decisions or evaluate the health of the company. Students see how chapter content works within extended business settings, such as franchising and sustainability activities. Related Analysis for Decision Making assignments allow students to improve analytical skills using real world company data.

• PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's approach highlights content in a way that reflects how today's students read and assimilate information. Concise paragraphs and bullets, step-by-step progression and meaningful illustrations engage students and ensure retention.

• CENGAGENOWV2 CLOSES THE GAP BETWEEN HOMEWORK AND EXAM PERFORMANCE. A helpful multi-panel view enables students to see all elements of a problem on one screen, making it easier to navigate the problem and understand the accounting system. Adaptive feedback responds to students' unique answers and alerts them to the type of error they have made. In addition, the Blank Sheet of Paper Experience provides a less leading response system for journal entries and financial statements that discourages over-reliance on the system.

• ACCOUNTING EQUATION IMPACT TOOL AIDS STUDENT COMPREHENSION. To demonstrate the importance of the transaction on business, each journal entry includes the net effect of the transaction on the accounting equation. This link between the journal entry and the accounting equation is also emphasized in the accompanying CNOWv2. As students enter transactions into the journal, the impact on the accounting equation automatically populates to emphasize the connection between transactions and their influence on the accounting equation.

• "SHOW ME HOW" ONLINE VIDEOS CLARIFY PROCESSES. Hundreds of "Show Me How" problem demonstration videos provide step-by-step models of similar problems. Identified by an icon in the text margins, "Show Me How" videos correspond to specific assignments in CNOWv2 and offer ideal opportunities for self-study and review.

• "CHECK UP CORNER" OFFERS ADDITIONAL VISUAL EXPLANATIONS. To aid learning and encourage problem solving, "Check Up Corner" features provides an illustrated overview with call-out explanations for key topics or more challenging concepts. The call-outs further detail the steps in developing the solution. This feature helps students improve problem-solving skills with a hands-on, effective tool for reviewing and reinforcing what they have read.

• AUTHOR-WRITTEN END-OF-CHAPTER MATERIALS ENSURE ACCURACY FOR YOU AND YOUR STUDENTS. The text authors apply their vast experience in financial accounting to develop and revise all of this edition’s end-of-chapter materials. In addition, all end-of-chapter content is verified by dedicated subject matter experts to ensure content you can trust.

• ACCOUNTING CYCLE COVERAGE PROVIDES UNMATCHED FOUNDATION FOR LATER SUCCESS. The accounting cycle is presented in a simple-to-complex format over four chapters, using one company example throughout (NetSolutions) and illustrating two months of transactions (November and December). The authors repeat and reinforce the accounting cycle with a capstone illustration (Kelly Consulting) of the accounting cycle for one period. A Comprehensive Problem further reinforces the accounting cycle with transactions for Kelly Consulting for the next period (May).

• SIMPLE-TO-COMPLEX PEDAGOGY ENSURES STUDENT COMPREHENSION. These experienced authors combine their own knowledge and teaching experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as they progress through the text.

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