Gain a solid foundation in the core accounting concepts as you develop a true appreciation for why accounting is important to business and a prosperous society with Warren/Reeve/Duchac’s FINANCIAL AND MANAGERIAL ACCOUNTING, 14E. This latest edition clearly demonstrates how accounting is more than just data and black and white rules. Instead, you see how accounting provides key information used to make critical business decisions. A new chapter schema provides context that emphasizes how each chapter’s content fits into the big picture. The book focuses on why accounting is important and consistently reinforces connections to the big picture throughout the text by connecting journal entries to the accounting equation. You also gain important practice in making business decisions.
1. Introduction to Accounting and Business.
2. Analyzing Transactions.
3. The Adjusting Process.
4. Completing the Accounting Cycle.
5. Accounting for Merchandising Businesses.
6. Inventories.
7. Internal Control and Cash.
8. Receivables.
9. Long-Term Assets: Fixed and Intangible.
10. Liabilities: Current, Installment Notes, and Contingencies
11. Liabilities: Bonds Payable.
12. Corporations: Organization, Stock Transactions, and Dividends.
13. Statement of Cash Flows.
14. Financial Statement Analysis.
15. Introduction to Managerial Accounting.
16. Job Order Costing.
17. Process Costing Systems.
18. Activity-Based Costing.
19. Cost-Volume-Profit Analysis.
20. Variable Costing for Management Analysis.
21. Budgeting.
22. Evaluating Variances from Standard Costs.
23. Evaluating Decentralized Operations.
24. Differential Analysis and Product Pricing.
25. Capital Investment Analysis.
26. Lean Manufacturing and Activity Analysis.
Appendix A: Interest Tables.
Appendix B: Revenue Recognition
Appendix C: International Financial Reporting Standards.
Appendix D: Investments.
Appendix E: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2015.
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.
-
James M. Reeve
Dr. James M. Reeve is Professor Emeritus of Accounting and Information Management at the University of Tennessee. Dr. Reeve taught full-time as part of the accounting faculty for twenty-five years after graduating with his PhD from Oklahoma State University. He presently teaches part-time at UT. His teaching efforts focused on Senior Executive MBA programs. His research interests are varied and include work in managerial accounting, supply chain management, lean manufacturing, and information management. He has published more than forty articles in academic and professional journals, including Journal of Cost Management, Journal of Management Accounting Research, Accounting Review, Management Accounting Quarterly, Supply Chain Management Review, and Accounting Horizons. He has consulted or provided training around the world for a variety of organizations, including Boeing, Procter & Gamble, Norfolk Southern, Hershey Foods, Coca-Cola, and Sony. When not writing books, Dr. Reeve plays golf and is involved in faith-based activities.
-
Jonathan Duchac
Dr. Jonathan Duchac is the Wayne Calloway Professor of Accounting and Acting Associate Dean of Accounting Programs at Wake Forest University. He earned his PhD in accounting from the University of Georgia and currently teaches introductory and advanced courses in financial accounting. Dr. Duchac has received a number of awards during his career, including the Wake Forest University Outstanding Graduate Professor Award, the T.B. Rose award for Instructional Innovation, and the University of Georgia Outstanding Teaching Assistant Award. In addition to his teaching responsibilities, Dr. Duchac has served as Accounting Advisor to Merrill Lynch Equity Research, where he worked with research analysts in reviewing and evaluating the financial reporting practices of public companies. He has testified before the U.S. House of Representatives, the Financial Accounting Standards Board, and the Securities and Exchange Commission and has worked with a number of major public companies on financial reporting and accounting policy issues. In addition to his professional interests, Dr. Duchac is an avid mountain biker and snow skier.
-
UP-TO-DATE CONTENT REFLECTS THE LATEST DEVELOPMENTS IN THE FIELD. The authors carefully review each chapter in every new edition to ensure the latest updates, such as new FASB standards and new or emerging developments in managerial accounting. The authors have updated this edition's coverage of revenue recognition and integrated the content with the chapter illustration of NetSolutions. In addition, a new managerial section on sustainability has been incorporated. All chapters are reviewed by Subject Matter Experts to further ensure the latest information is incorporated.
-
NEW GRAPHIC SCHEMAS PROVIDE A ROADMAP OF ACCOUNTING THAT EMPHASIZES RELEVANCE AND BIG-PICTURE CONTEXT. Each chapter starts with a graphic schema that provides a “you are here” map to help students navigate course content. The schema shows how the concept the student is about to learn connects ot the larger business and accounting picture. Financial and managerial sections use separate schemas. A four-part schema (Chs. 1-4) demonstrates how chapter content integrates within the accounting cycle. The financial accounting schema (Chs. 5-17) highlights chapter content within a set of integrated financial statements. A separate managerial accounting schema (Chs. 18-26) shows how chapter content integrates within the managerial accounting functions.
-
NEW JOURNAL ENTRY FORMAT AIDS STUDENT COMPREHENSION: To demonstrate the impact of the transaction on the 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 CengageNOW™v2 product as a new journal entry tool illustrates the impact of the transaction on the accounting equation.
-
NEW ANALYSIS FOR DECISION MAKING SECTIONS PUT PROCEDURES INTO CONTEXT. Each chapter ends with a new section that uses real company illustrations to emphasize how businesses use accounting information to make decisions or evaluate the health of the company. Readers gain an understanding of how chapter content fits 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.
-
NEW “WHY IT MATTERS” CONCEPTCLIPS IN CNOWv2 EXPOSE STUDENTS TO WHY ACCOUNTING MATTERS. Brief captivating video clips that expose students to why the concept is important and how the concept is used in the real world. This is especially helpful information for students who are not accounting majors. ConceptClips are assignable and gradable in CNOWv2.
-
NEW "WHY IT MATTERS" FEATURES HIGHLIGHT HOW ACCOUNTING IMPACTS BUSINESS SUCCESS: New "Why It Matters" features help students connect accounting information with its larger application to business decisions. These features use memorable examples from real companies to illustrate why accounting is so important. This is especially helpful information for students who are not accounting majors.
-
NEW "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.
-
NEW "LET'S REVIEW" HELPs STUDENTS PREPARE FOR EXAMS: These new end-of-chapter features assist busy, distracted students in reviewing and studying for exams. Each "Let's Review" includes a summary of the chapter, multiple-choice questions, exercises, and a sample problem for students to practice and test themselves. Clear solutions are provided for all practice items. "Show Me How" problem demonstration videos and additional algorithmic practice opportunities are available within CengageNOW™v2 for the Exercises in the "Let's Review" Sections.
-
NEW ENHANCED REAL COMPANY INTEGRATION EMPHASIZES THE IMPORTANCE OF CONCEPTS IN BUSINESS: Each opener provides a brief description of a real company and demonstrates how it relates to the chapter content. New corresponding "Link to" features throughout the chapter revisit the company to clearly demonstrate how the chapter's concepts consistently apply to this real world business
-
REVISED END-OF-CHAPTER ASSIGNMENTS PROVIDE IMPORTANT HANDS-ON PRACTICE. Refined, meaningful review and applications at the end of each chapter include Discussion Questions, Basic Exercises, Exercises, Problems (Series A and B), Analysis for Decision Making, and Take It Further exercises.
-
CNOWv2 better prepares students for the exam by providing an online homework experience that is similar to what students will experience on the exam and in the real-world. Compelling content at each stage of the learning process improves student learning outcomes. CNOWv2 offers pre-class activities, practice opportunities that prepare students for exams, and innovative tools that help students master course content.
-
AUTHOR WRITTEN END-OF-CHAPTER MATERIALS PROVIDE AN ACCURACY YOU AND YOUR STUDENTS CAN TRUST. The authors apply their vast experience to develop and revise this edition’s end-of-chapter materials. In addition, all end-of-chapter content is verified by dedicated Subject Matter Experts.
-
SIMPLE-TO-COMPLEX PEDAGOGY ENSURES STUDENT COMPREHENSION. Experienced authors use their own knowledge and input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as they progress through the text. This edition’s Chapter 3, The Adjusting Process, is now revised to reflect this pedagogy.
-
ACCOUNTING EQUATIONS IN THE MARGIN CORRELATE TO SPECIFIC SECTIONS OF CHAPTER CONTENT. For each journal entry within a chapter, the accounting equation’s impact, positive or negative, on assets, liabilities, and stockholders’ equity appears in the margin.
-
PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS: Built for today's students, the Warren/Reeve/Duchac presentation style provides content in a way that reflects how the current generation of students read and assimilate information. The authors use short/concise paragraphs and bullets, stepwise progression, and meaningful Illustrations and graphs to engage students and ensure retention.
-
"SHOW ME HOW" VIDEOS IN CENGAGENOW™V2 CLARIFY PROCESSES: Created for the most frequently assigned end-of-chapter items, hundreds of "Show Me How" problem demonstrations provide a step-by-step model of a similar problem. Embedded tips and warnings help students avoid common mistakes and pitfalls, keeping them on track and reducing frustration. Identified by an icon in the text margins, "Show Me How" videos correspond to specific assignments in CengageNOW™v2 and offer ideal opportunities for self-study and review.
-
"DYNAMIC EXHIBITS" IN CENGAGENOW™V2 DEMONSTRATE ACCOUNTING IN ACTION. These unique, interactive exhibits allow students to change variables in a scenario and see how a change ripples through the accounting system. Students see connections and relationships like never before. Clearly identified by icons in the text, Dynamic Exhibits are embedded within the eReader in CengageNOW™v2. They are assignable and gradable in CengageNOW™v2 and offer valuable tools for students to study and review.
-
"WHAT’S COVERED" SECTIONS HELP CLARIFY TOPICS. These sections give students an overview of the topics and learning objectives while integrating the objectives with the chapter’s topics.
-
EMPHASIS ON ETHICS FOCUSES ON PRACTICAL APPROACH. Actual ethical situations related to the chapter’s topics are integrated throughout each chapter. In some features, called Ethics: Do It, the situation illustrates a positive ethical response. In other features, called Ethics: Don’t Do It, the situation demonstrates a negative ethical response.
Cengage Testing, powered by Cognero® for Warren/Reeve/Duchac’s Financial & Managerial Accounting
9781337270663
Cengage Testing, powered by Cognero® for Warren/Reeve/Duchac’s Financial & Managerial Accounting, Instant Access
9781337270670
Companion Website for Warren/Reeve/Duchac’s Financial & Managerial Accounting, 14th
9781337270649
VitalSource eBook: Financial & Managerial Accounting 12 Months
9788000010441