Intermediate Accounting,
3rd Edition

Part I: FINANCIAL REPORTING AND STATEMENTS: OBJECTIVES, CONCEPTS, AND ANALYSIS.
1. The Demand for and Supply of Financial Accounting Information.
2. Financial Reporting: Its Conceptual Framework.
3. Review of a Company’s Accounting System.
4. The Balance Sheet and the Statement of Shareholders’ Equity.
5. The Income Statement and the Statement of Cash Flows.
Time Value of Money Module.
Part II: BUSINESS OPERATING ACTIVITIES.
6. Cash and Receivables.
7. Inventories: Cost Measurement and Flow Assumptions.
8. Inventories: Special Valuation Issues.
9. Current Liabilities and Contingent Obligations.
Part III: INVESTING ACTIVITIES.
10. Property, Plant, and Equipment: Acquisition and Subsequent Investments.
11. Depreciation, Depletion, Impairment, and Disposal.
12. Intangibles.
13. Investments and Long-Term Receivables.
Part IV: FINANCING ACTIVITIES.
14. Financing Liabilities: Bonds and Long-Term Notes Payable.
15. Contributed Capital.
16. Retained Earnings and Earnings Per Share.
Part V: SPECIAL TOPICS IN FINANCIAL REPORTING.
17. Advanced Issues in Revenue Recognition.
18. Accounting for Income Taxes.
19. Accounting for Post-Retirement Benefits.
20. Accounting for Leases.
21. The Statement of Cash Flows.
22. Accounting for Changes and Errors.
Appendix A: Starbucks Financial Statements (full report).
Appendix B: List of the Official Pronouncements of the AICPA and FASB.
Appendix C: List of the Official Pronouncements of the IASB.
Appendix D: Brief Guide to Key Differences Between IFRS and GAAP by Chapter.

• James M. Wahlen

  James M. Wahlen is the James R. Hodge Chair of Excellence, professor of accounting, former chair of the accounting department, and the former chair of the M.B.A. program at the Kelley School of Business at Indiana University. Dr. Wahlen received his Ph.D. from the University of Michigan and has served on the faculties of the University of North Carolina at Chapel Hill, the University of Washington and Pacific Lutheran University. He has also been a visiting professor at the University of Chicago, INSEAD and Sungkyunkwan University. Dr. Wahlen’s teaching and research interests focus on financial accounting, financial statement analysis and the capital markets. He investigates financial statements analysis, testing the extent to which earnings and other financial statement information can predict future stock returns, earnings quality and earnings management, earnings volatility as an indicator of risk, fair value accounting for financial instruments and accounting for loss reserve estimates by banks and insurers. His research has been published in a wide array of academic and practitioner journals in accounting and finance. He has public accounting experience in both Milwaukee and Seattle and is a member of the American Accounting Association. Dr. Wahlen has received numerous teaching awards during his career. In his free time, he enjoys spending time with his wife and daughters, spoiling his adorable granddaughters, playing outdoor sports (biking, hiking, skiing, golf), cooking (and, of course, eating), and listening to rock music (especially if it is loud and live).

• Jefferson P. Jones

  Jefferson P. Jones is the PricewaterhouseCoopers associate professor of accounting at Auburn University. He received his bachelor’s and master of accountancy degrees from Auburn University and his Ph.D. in accounting from Florida State University. While earning his CPA, he worked for Deloitte & Touche. He has received numerous teaching awards, including the Outstanding Master of Accountancy Professor Award, the Beta Alpha Psi Outstanding Teaching Award (six times), the Auburn University College of Business McCartney Teaching Award, and the Auburn University School of Accountancy Teaching Award. In addition to writing an intermediate accounting text, he has published articles in Advances in Accounting, Review of Quantitative Finance and Accounting, Issues in Accounting Education, International Journal of Forecasting, The CPA Journal, Managerial Finance, Journal of Accounting and Finance Research, and The Journal of Corporate Accounting and Finance. Jones has made numerous presentations around the country on research and pedagogical issues. He is a member of the American Accounting Association (AAA), the American Institute of Certified Public Accountants (AICPA), and the Alabama Society of CPAs (ASCPA).

• Donald Pagach

  Dr. Donald P. Pagach is Professor of Accounting at the Poole College of Management at North Carolina State University. He received his Ph.D. from Florida State University and his B.A. and M.A. in Accounting from the University of Wisconsin-Madison. His research interests focus on financial accounting and enterprise risk management, with a specific focus on forecasting and financial statement analysis. He has published articles in numerous journals, including Journal of Accounting Research, Contemporary Accounting Research, Journal of Accounting, Auditing and Finance, and The CPA Journal. Dr. Pagach has been named as a University Outstanding Teacher and has received awards for his research on Enterprise Risk Management. Previously, Dr. Pagach taught at Louisiana State University, and he also gained public accounting experience working for Coopers and Lybrand as an auditor. He holds a CPA certificate in the state of North Carolina and is a member of the American Accounting Association and the American Institute of Certified Public Accountants (AICPA). In 2017 he was named the chair of the Financial Accounting and Reporting Examinations Committee for the AICPA, which oversees the CPA exam. Dr. Pagach is married, has three children, and enjoys traveling, especially if the trip includes a beach.

• IN-DEPTH COVERAGE ADDRESSES THE LATEST NEW ACCOUNTING STANDARDS. The U.S. GAAP has undergone an unprecedented period of change with important new standards that are carefully detailed throughout this edition. The authors have integrated today's most up-to-date standards, including revenue recognition, leases, current expected credit losses, goodwill and FASB’s Simplification Initiative in this edition.

• UNIQUE APPROACH EMPHASIZES WHY ACCOUNTING MATTERS USING POSITIVE EXAMPLES. Chapter-opening vignettes and memorable examples highlight why accounting information is extremely important to investors, creditors and other stakeholders. The positive tone in these examples illustrates how accounting information significantly helps decision makers, which motivates students for further study. The authors purposefully avoid the type of pathological examples that some texts use, such as frequent references to Enron.

• STARBUCKS CONTINUING-THREAD CASE INTEGRATES ACTUAL FINANCIAL INFORMATION THROUGHOUT THE BOOK. Students are motivated and engaged as real financial information and business strategies from the popular coffeehouse chain, Starbucks, are woven into discussions and examples throughout this edition. Specific end-of-chapter applications clearly demonstrate how a wide variety of accounting concepts apply to a single company.

• FOCUS ON BUILDING CONFIDENCE PREPARES STUDENTS FOR ACCOUNTING SUCCESS. This edition incorporates a proven approach to student readiness based on extensive student and instructor research. The book and accompanying online and digital resources are designed to counter the constant challenge of students entering your course who are unprepared for the volume and intensity of work required for success in intermediate accounting. The use of algorithmic homework exercises allows students to solve multiple versions of exercises to build confidence and expertise.

• CNOWv2 HELPS CLOSE THE GAP BETWEEN HOMEWORK AND EXAM PERFORMANCE. CNOWv2's 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. 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.

• "GOT IT?" QUICK CHECKS ALLOW STUDENTS TO IMMEDIATELY GAUGE THEIR COMPREHENSION. A helpful "Got It?" series of questions appears at the end of each section to confirm students understand the material presented and are ready to continue in the chapter. Students can spend additional time reviewing and mastering any concepts that are unclear before moving ahead. These questions are also assignable and gradable within CNOWv2.

• "REVIEW CENTERS" SUMMARIZE MAJOR CONCEPTS FROM EACH CHAPTER AT A GLANCE. These timely Review Centers at the end of each chapter condense and summarize review material for each Learning Objective. These review features also present Key Terms and Formulas grouped by Learning Objective for quick review. This at-a-glance resource is ideal in saving time as students find chapter highlights in one consistent place that’s easy to locate within each chapter.

• ADAPTIVE STUDY PLAN IN CENGAGENOWV2 PROVIDES A REMEDIATION PATHWAY. The adaptive study plan is an assignable, gradable study center that adapts to each student’s unique needs. Students take a chapter-level quiz with randomized questions that cover both conceptual and procedural topics. Specific feedback explains why each answer is right or wrong. Based on quiz results, students receive a remediation path that includes media assets and algorithmic practice problems to help improve their understanding. The adaptive study plan is helpful for self-study and review.

• "SHOW ME HOW" VIDEOS IN CNOWv2 HELP CLARIFY CONCEPTS. These problem demonstration videos walk viewers through a step-by-step model of problems similar to those in the book. Embedded tips and warnings help students avoid common mistakes and pitfalls to keep them on track and reduce frustration. Icons in the text margins connect the "Show Me How" videos and assignments in CNOWv2 to topics in the book to assist students in self-study and review.

• BECKER CPA EXAM QUESTIONS PREPARE STUDENTS FOR SUCCESS ON TODAY'S CPA EXAM. Students review intermediate accounting concepts using questions from Becker Professional Education®-- one of the industry's most effective tools to prepare for the CPA Exam. These Becker CPA Exam questions are assignable and gradable in CNOWv2.

• CNOWv2 HELPS ELEVATE STUDENT THINKING. Powerful digital content addresses each stage of the learning process from motivation to mastery. CNOWv2 motivates and prepares your students to learn with practice opportunities that better equip them for the exam and success in your course. Carefully crafted tools assist students in making connections and seeing the big picture.

• CASES AND EXAMPLES PROVIDE SUPERIOR CONTEXT AND ENCOURAGE CRITICAL THINKING. A continuing case features the coffee chain Starbucks, while examples from other highly recognizable companies, such as Coca Cola, help students understand why accounting information is important. Students also gain a better understanding of the implications that accounting information holds for today’s financial statement users.

• "REAL REPORTS" MOTIVATE STUDENTS TO APPLY CONCEPTS. This unique feature enables students to interact with excerpts from actual annual reports, analyze this information and apply what they have learned by answering corresponding questions.

• UNIQUE APPROACH EMPHASIZES WHY ACCOUNTING MATTERS USING POSITIVE EXAMPLES. Chapter-opening vignettes and memorable examples highlight why accounting information is extremely important to investors, creditors and other stakeholders. The positive tone in these examples illustrates how accounting information significantly helps decision makers, which motivates students for further study. The authors purposefully avoid the type of pathological examples that some texts use, such as frequent references to Enron.

• IFRS COVERAGE AND APPLICATIONS CLARIFY THESE GLOBAL STANDARDS. “International Dimension” features illustrate the differences between International Financial Reporting Standards (IFRS) and U.S. GAAP. Accompanying IFRS Applications demonstrate how journal entries and financial statements are prepared under IFRS. When differences are significant, the feature shows side-by-side comparisons of excerpts prepared under both U.S. GAAP and IFRS. End-of-chapter IFRS assignments highlight real company financial statements from international companies, such as Louis Vuitton and Nestlé.

• "LOOKING AHEAD" PREVIEWS SIGNIFICANT INDUSTRY CHANGES ON THE HORIZON. This insightful feature highlights a number of significant accounting-related changes expected in the future, including changes in lease accounting, financial statement presentation and other important pending developments.

• CODIFICATION APPLICATIONS PROVIDE A STEP-BY-STEP GUIDE. Your students can use The FASB's Accounting Standards Codification: A User-Friendly Guide as part of this edition’s online collection of digital resources. Students learn how to use codification step-by-step. Brief assignments in the Guide and comprehensive assignments in the textbook’s end-of-chapter materials encourage students to research independently and learn to use codification effectively. This resource is available on the book’s companion website.

• NEXT-LEVEL REQUIREMENTS ENCOURAGE STUDENTS TO MASTER ADVANCED THINKING SKILLS. These requirements within select end-of-chapter questions require students to go beyond the basic understanding of accounting rules and procedures and develop critical-thinking and decision-making skills. Specific open-ended requirements are now converted into fill-in-the-blank questions within CNOWv2 and are automatically gradable assignments.

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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