Accounting, Chapters 14-26,
27th Edition

14. Long-Term Liabilities: Bonds and Notes.
15. Investments and Fair Value Accounting.
Mornin’ Joe.
16. Statement of Cash Flows.
17. Financial Statement Analysis.
18. Introduction to Managerial Accounting.
19. Job Order Costing.
20. Process Cost Systems.
21. Cost Behavior and Cost-Volume-Profit Analysis.
22. Budgeting.
23. Evaluating Variances from Standard Costs.
24. Decentralized Operations.
25. Differential Analysis, Product Pricing, and Activity-Based Costing.
26. Capital Investment Analysis.

• 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.

• 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 to the larger business and accounting picture.

• NEW JOURNAL ENTRY TOOL IN CNOWV2 ILLUSTRATES IMPACT OF TRANSACTIONS ON THE ACCOUNTING EQUATION. In CNOWv2, as a student enters data into the journal, the accounting equation automatically populates to show the link between the transaction and the accounting equation.

• NEW “WHY IT MATTERS” CONCEPT CLIPS 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. Concept Clips are assignable and gradable in CNOWv2.

• 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.

• UPDATE TO CLOSING ENTRIES: In an effort to simplify and reflect current practice, this edition moved to two closing entries instead of four.

• REDESIGNED CHAPTER FLOW ENHANCES CONTINUITY AND ENSURES CONTENT IS EASY TO FOLLOW. Several chapters now offer an enhanced structure and flow with significant improvements particularly in this edition’s Merchandising and Fixed Asset chapters.

• UPDATES REFLECT THE MOST RECENT CHANGES IN ACCOUNTING POLICY. Students study the latest developments in the areas of revenue recognition, lease accounting, and international standards.

• UPDATED TERMINOLOGY ENSURES STUDENTS ARE PREPARED TO DISCUSS ACCOUNTING LIKE PROFESSIONALS. Areas throughout this edition, particularly in the content for financial ratios, provides updated accounting terms that reflect today’s more standard usage.

• OPENING CHAPTERS EMPHASIZE THE REPORT FORM OF THE BALANCE SHEET. Students leave your course prepared to use today’s most popular format for balance sheets.

• ACCOUNT NUMBERS APPEAR IN TRIAL BALANCES. The authors have carefully included account numbers whenever these account numbers are part of the information set.

• UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place the book’s accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.

• CNOWv2 BETTER PREPARES STUDENTS FOR THE EXAM. CNOWv2 provides 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.

• 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.

• 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.

• 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.

• CASES AND PROJECTS DEEPEN STUDENT UNDERSTANDING OF IMPORTANT BUSINESS ISSUES. Specific, carefully constructed assignments address ethics, communication, and team activities. You can assign theses case and projects as homework or use them to enrich class discussion.

• CHAPTER-OPENING COMPANY EXAMPLES CONNECT CONTENT TO BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.

• MASTERY PROBLEMS IN CNOWv2 CHALLENGE STUDENTS TO DEEPEN THEIR UNDERSTANDING OF CONCEPTS. Mastery Problems are teaching problems that walk students through a single accounting topic. These problems cover the primary learning objectives and help your students understand foundational content and the associated building blocks versus memorizing the formulas or journal entries. Mastery Problems are assignable and easily gradable in CNOWv2.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

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