CORNERSTONES OF FINANCIAL ACCOUNTING and CNOWv2 demonstrate the role of accounting in business with a balanced approach that highlights the relationship between accounting, financial statements, and business decisions. Built around how students like you read and use textbooks, the Cornerstones approach makes it easy to learn FASTER and MORE INDEPENTENTLY. Armed with the knowledge you gain from working through the CORNERSTONES approach, you have the tools to bring your knowledge full-circle. You practice actually making decisions based on the information that you gather and analyze.
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.
Glossary.
Check Figures.
Index.
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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.
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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.
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SHOW ME HOW VIDEOS KEEP STUDENTS ON TRACK. Hundreds of "Show Me How" problem demonstration videos, created by the textbook author’s, 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.
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ACCOUNTING EQUATION IMPACT TOOL IN CengageNOW™v2 HELPS STUDENTS UNDERSTAND THE IMPACT OF TRANSACATION ON THE BALANCE SHEET. Students are able to work with the Journal Entry Tool to enter transactions into accounting journals as they complete their online assignments and practice.
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TELL ME MORE VIDEOS IN CengageNOW™v2 HELP FLIP YOUR CLASSROOM. Assignable Tell Me More videos are available for every Learning Objective in the product. These activities expose students to concepts and terminology prior to class, allowing you to spend more in-class time with exercises, projects or discussions.
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CNOWv2 BETTER PREPARES STUDENTS FOR THE EXAM. CNOWv2 discourages overreliance on the homework system and 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.
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INNOVATIVE CORNERSTONES APPROACH IS PROVEN TO INCREASE STUDENT ENGAGEMENT AND IMPROVE GRADES. Based on student reading behavior and market research, the Cornerstones approach illustrates each major concept in a Cornerstone. These Cornerstones amplify accounting concepts with compelling examples, step-by-step calculations to solve a business problem, and links to brief videos that reinforce key concepts and procedures. Corresponding end-of-chapter Cornerstone Exercises highlight the relevant Cornerstone Examples, which can help students become more independent learners.
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EACH CHAPTER OPENS WITH AN EXPERIENCE FINANCIAL ACCOUNTING VIGNETTE. These engaging vignettes highlight how real companies like Apple, Verizon, and Google use accounting information to make better decisions. Real financial statements from leading, recognizable companies illustrate key concepts. Each chapter includes an assignment that requires students to analyze and interpret actual financial data for companies such as Under Armour and VF.
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ETHICAL DECISIONS FEATURES TEACH READERS TO MAKE INFORMED ETHICAL CHOICES. To succeed in today's business climate, students need to be able to analyze business situations thoughtfully and make informed, ethical decisions. This book weaves Ethical Decisions features throughout each chapter to encourage students to develop these essential skills and consider the ethical implications of their actions in every situation.
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