Gain a clear understanding of the important relationships between accounting, financial statements and business decisions with Rich/Jones/Myers' FINANCIAL ACCOUNTING, 5E. This edition's proven approach is built around the way students like you read and use texts. This edition helps you master the fundamentals of financial accounting more quickly and independently so you can focus on how accounting information is used in real companies today. The authors illustrate each major concept using memorable examples from familiar organizations and conceptual insights that explain the reasons behind the processes. You watch leading companies, like Apple, Verizon or Google, use accounting information to make better decisions, as you learn how to analyze and interpret financial data yourself. Helpful videos from the authors are available to reinforce concepts and optional CNOWv2 digital resources provide support with homework, study and review.
1. Accounting and the Financial Statements.
2. The Accounting Information System.
3. Accrual Accounting.
Making the Connection, Integrative Exercise: The Accounting Cycle.
4. Internal Control and Cash.
5. Sales and Receivables.
6. Cost of Goods Sold and Inventory.
7. Operating Assets.
Making the Connection, Integrative Exercise: Integrated Asset Accounting.
8. Current and Contingent Liabilities.
9. Long-Term Liabilities.
10. Stockholders' Equity.
Making the Connection, Integrative Exercise: Integrating Accounting for Liabilities and Equity.
11. The Statement of Cash Flows.
12. Financial Statements Analysis.
Appendix 1: International Financial Reporting Standards.
Appendix 2: Investments.
Appendix 3: Time Value of Money.
Appendix 4: Financial Statement Information: Under Armour.
Appendix 5: Financial Statement Information: Columbia Sportswear.
Jay S. Rich
Jay Rich is a professor of accounting at Illinois State University. He received his B.S., M.S. and Ph.D. from the University of Illinois. Prior to entering the Ph.D. program, he worked as an auditor at Price Waterhouse & Co. in Chicago and earned his C.P.A. In 1985. Dr. Rich has published articles in numerous journals, including The Accounting Review, Auditing: A Journal of Practice & Theory, Accounting Horizons, Contemporary Accounting Research, Organizational Behavior and Human Decision Processes and Accounting Organizations and Society. He has also served on the editorial board of Auditing: A Journal of Practice & Theory and Current Issues in Auditing. Dr. Rich has received both the Outstanding Dissertation Award and Notable Contribution to the Literature Award from the Audit Section of the American Accounting Association. He was also recognized with the Outstanding Educator Award from the Illinois CPA Society. His primary teaching interest is financial accounting and he has taught numerous courses at the undergraduate, master and doctoral levels. Dr. Rich has a wife of 30 years, Jane, and three children, Dennis, Anne and Grace. His outside interests include his family, travel and reading. He also repeatedly develops plans to exercise and diet at some point in the future. By all accounts, he is a master at grilling meat, a mediocre skier and a shameful golfer.
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.
- Shana Proell
Linda Ann Myers
Linda A. Myers is a distinguished professor of accounting and holder of the Haslam Chair of Business at The University of Tennessee, Knoxville (UTK). She holds a B.com. in accounting and M.B.A. from McMaster University and a Ph.D. from the University of Michigan. Dr. Myers has published more than 40 peer-reviewed articles in The Accounting Review; Journal of Accounting and Economics; Journal of Accounting Research; Contemporary Accounting Research; Review of Accounting Studies and Accounting, Organizations and Society. She is the recipient of the AAA’s Notable Contribution to the Auditing Literature Award, the AAA’s Financial Accounting and Reporting Section Best Paper Award and the Financial Executives Research Foundation’s Award for the Outstanding Accounting Review Article. Dr. Myers’ research has been cited in The New York Times and The Economist, as well as by the Public Company Accounting Oversight Board and the U.S. Securities and Exchange Commission. She has also been quoted on National Public Radio’s Marketplace Business. She is as an editor at Contemporary Accounting Research, Auditing: A Journal of Practice & Theory, Accounting Horizons, Journal of International Accounting Research and CAFR. Dr. Myers is also an associate editor at the Journal of Accounting and Auditing & Finance, and she serves on the editorial boards of The Accounting Review and European Accounting Research. She has taught financial accounting, managerial accounting, and Ph.D. seminars at McMaster University, University of Illinois, Texas A&M University, University of Arkansas and UTK. She currently serves as director of the Ph.D. program in accounting at UTK. When not traveling around the globe, Dr. Myers enjoys playing board games, cooking and entertaining, and spending time with her husband and two children.
ADDITIONAL INSTRUCTOR-PREPARED "SHOW ME HOW" VIDEOS REINFORCE UNDERSTANDING. These focused videos, prepared by the authors, closely resemble how you would talk to a student during office hours. The "Show Me How" videos provide students with the background, knowledge and context to solve problems rather than simply giving them the answer like video answer keys.
NEW APPENDIX PROVIDES HELPFUL INTRODUCTION TO WORKING WITH THE 10-K. While information for Financial Statement Analysis has always appeared in Chapter 12, many instructors choose to omit this chapter. This new appendix, which appears early in the book, guides students in finding the information they need within the 10-K. Instructions in this appendix prepare students for tasks related to financial-statement analysis, such as examining profitability, liquidity or solvency for real companies.
ALGORITHMIC "INTERPRETING 10-K" PROBLEMS LET YOU ASSIGN REAL ANNUAL REPORT PROJECT-STYLE PROBLEMS. The algorithmic style of the problems prevents cheating and requires that students use 10-Ks to locate financial information. Students use this information to analyze short-term liquidity, debt management, asset efficiency and profitability.
UPDATED "TELL ME MORE" VIDEOS WALK STUDENTS THROUGH BASIC CONCEPTS IN THE CHAPTER. Students can access this valuable video instruction on-demand to accommodate their work and study habits. These step-by-step videos facilitates more efficient and independent learning.
CNOWv2 DIGITAL RESOURCES OFFER ONLINE LEARNING, HOMEWORK AND STUDY OPPORTUNITIES. CNOWv2 is designed to discourage overreliance on mere homework. Instead, CNOWv2 digital learning tools prepare students for the exam by providing online homework experiences that are similar to what students will experience on the exam and in the real business world.
INNOVATIVE APPROACH IS PROVEN TO INCREASE STUDENT ENGAGEMENT AND IMPROVE GRADES. This edition clearly illustrates each major concept, tailoring instruction with an approach that's based on student reading behavior and market research. Step-by-step examples are accompanied by conceptual insights that explain the reasons behind the processes. Links connect students to brief videos that reinforce key concepts and procedures. In addition, end-of-chapter exercises are linked to the examples, further encouraging students to become more independent learners.
EACH CHAPTER OPENS WITH AN EXPERIENCE-DRIVEN FINANCIAL ACCOUNTING VIGNETTE. These engaging vignettes highlight how real companies, like Apple, Verizon or Google, use accounting information to make stronger decisions. Real financial statements from leading, familiar companies illustrate key concepts. Each chapter includes an assignment that requires students to analyze and interpret actual financial data for companies, such as Vail Properties and Callaway Golf.
"ETHICAL DECISIONS" FEATURES TEACH READERS TO MAKE INFORMED ETHICAL CHOICES. To succeed in today's business climate, students must know how to analyze business situations thoughtfully and make informed, ethical decisions. This edition weaves "Ethical Decisions" features into each chapter to encourage students to develop these essential skills. Students learn to consider the ethical implications of their actions in every situation.
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Cengage eBook: Financial Accounting 12 Months