About this Product

Overview

Activate Learning with Warren/Reeve/Duchac's, ACCOUNTING! For 25 editions, market-leading ACCOUNTING has been on the forefront of innovation and change based on the needs of today's teaching and learning environment. Warren offers students clear guidance to complete homework with an efficient presentation for today's learner. The high impact writing style and streamlined design makes important information accessible, with a focus on providing the best and most complete examples. The Complete Learning System in ACCOUNTING and CengageNOW is built around the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course. New to this edition, the authors created innovative, unique content offering activities that are best-suited for each point in the learning process. New content like the author-written Activation Exercises, helps students come to class more prepared, and enables them to more easily connect the dots, enhance their depth of knowledge and have better tools for remediation and review. The end goal of Warren/Reeve/Duchac's text and technology learning system is to Activate Learning and create more empowered and prepared students--ready to take on the rest of their educational and career goals.

Available with InfoTrac® Student Collections http://gocengage.com/infotrac.

About The Author

Carl S. Warren

Dr. Carl S. Warren is Professor Emeritus of Accounting at the University of Georgia, Athens. Dr. Warren has taught classes at the University of Georgia, University of Iowa, Michigan State University, and University of Chicago. He focused his teaching efforts on principles of accounting and auditing. Dr. Warren received his PhD from Michigan State University and his BBA and MA 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 has served on numerous committees of the American Accounting Association, the American Institute of Certified Public Accountants, and the Institute of Internal Auditors. He also has consulted with numerous companies and public accounting firms. His outside interests include playing handball, golfing, skiing, backpacking, and fly-fishing.

James M. Reeve

Dr. James M. Reeve is Professor Emeritus of Accounting and Information Management at the University of Tennessee. Professor Reeve taught as part of the accounting faculty for twenty-five years after graduating with his PhD from Oklahoma State University. His teaching effort focused on undergraduate accounting principles and graduate education in the Master of Accountancy and Senior Executive MBA programs. Beyond this, Professor Reeve is very active in the Supply Chain Certification program, which is a major executive education and research effort of the college. His research interests are varied and include work in managerial accounting, supply chain management, lean manufacturing, and information management. He has published over 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, Professor Reeve plays golf and is involved in faith-based activities.

Jonathan Duchac

Dr. Jonathan Duchac is the Merrill Lynch and Co. Professor of Accounting and is Director of the Program in Enterprise Risk Management 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 Treasurer of The Special Children's School of Winston-Salem, a private, nonprofit developmental day school serving child with special needs. Dr. Duchac is an avid long-distance runner, mountain biker, and snow skier. His recent events include the Grandfather Mountain Marathon, the Black Mountain Marathon, the Shut-In Ridge Trail run, and NO MAAM (Nocturnal Overnight Mountain Bike Assault on Mount Mitchell).

Table of Contents

1. Introduction to Accounting and Business.
2. Analyzing Transactions.
3. The Adjusting Process.
4. Completing the Accounting Cycle.
5. Accounting Systems.
6. Accounting for Merchandising Businesses.
7. Inventories.
8. Sarbanes-Oxley, Internal Control, and Cash.
9. Receivables.
10. Fixed Assets and Intangible Assets.
11. Current Liabilities and Payroll.
12. Accounting for Partnerships and Limited Liability Companies.
13. Corporations: Organization, Stock Transactions, and Dividends.
14. Long-Term Liabilities: Bonds and Notes.
15. Investments and Fair Value Accounting.
16. Statement of Cash Flows.
17. Financial Statement Analysis.
18. Managerial Accounting Concepts and Principles.
19. Job Order Costing.
20. Process Cost Systems.
21. Cost Behavior and Cost-Volume-Profit Analysis.
22. Budgeting.
23. Performance Evaluation Using Variances from Standard Costs.
24. Performance Evaluation for Decentralized Operations.
25. Differential Analysis, Product Pricing, and Activity-Based Costing.
26. Capital Investment Analysis.
Appendix A Interest Tables.
Appendix B Reversing Entries.
Appendix C Nike, Inc. 2011 Annual Report.
Appendix D International Financial Reporting Standards.
Glossary.
Subject Index.
Company Index.

Features

  • Hallmark features:
  • Example Exercises: Based on extensive market feedback, Example Exercises were developed to reinforce concepts and procedures in a bold, new way. Like a teacher in the classroom, students follow the authors' example to see how to complete accounting applications in the textbook. Each Example Exercise references the parallel Practice Exercises in the homework so students get the accounting experience they need. Animated Example Exercises are also tied to the Practice Exercises within CengageNOW to provide students with an easily accessible audiovisual walk-through of how to solve these questions.
  • Complete Learning System: Students can easily locate the information they need to efficiently master course concepts using the "Guiding Principles System." At the beginning of every chapter, students have a map of the chapter objectives, related topics and outcomes, Example Exercises in the chapter, and corresponding Practice Exercises in the homework. The "At a Glance" chapter summary completes this proven system that leads students quickly to the information they need.
  • Blueprint Problems:
  • Market Leading End-of-Chapter Material: Students need to practice accounting so that they can understand and use it. To give students the greatest possible advantage in the real world, ACCOUNTING, 25e, goes beyond presenting theory and procedure with comprehensive, time-tested end-of-chapter material.
  • Relevant Chapter Openers: Building on the strengths of past editions, these openers use real companies, such as Twitter and Google, to help students relate to accounting and business concepts in the chapter. They provide invaluable insight into real practice. Chapter openers created especially for this edition focus on interesting companies such as Facebook, Scripps-Howard, Rhapsody and Razor and are accompanied by a chapter-opening video in CengageNOW.
  • Financial Analysis and Interpretation: Beginning with Chapter 1, the "Financial Analysis and Interpretation" section at the end of each financial accounting chapter introduces relevant key ratios used throughout the textbook. Students connect with the business environment as they learn how stakeholders interpret financial reports. This section covers basic analysis tools that students will use again in Chapter 17, "Financial Statement Analysis." Furthermore, students can test their proficiency with these tools through special activities and exercises at the end of each chapter. To ensure a consistent presentation, a unique icon is used for both the section and related end-of-chapter materials and learning objectives take the accounting concepts presented in the chapter and apply them to real world situations (i.e. horizontal analysis, segment analysis, revenue per employee, dividend yield).
  • Business Connections and Comprehensive Real-World Notes: Students get a close-up look at how accounting operates in the marketplace through a variety of items in the margins and in the "Business Connections" boxed features. In addition, a variety of end-of-chapter exercises and problems employ real-world data to give students a feel for the material that accountants see daily. Real companies are highlighted in blue font throughout each chapter for a consistent presentation.
  • Integrity, Objectivity, and Ethics in Business: In each chapter, these cases help students develop their ethical compass. Often coupled with related end-of-chapter activities, these cases can be discussed in class or students can consider the cases as they read the chapter. Both the section and related end-of-chapter materials are indicated with a unique icon for a consistent presentation.
  • Continuing Case Study: Students follow a fictitious company, NetSolutions, throughout Chapters 1–6, which demonstrates a variety of transactions. To help students connect to the world of accounting, the NetSolutions transactions in Chapters 1 and 2 are often paired with non-business events to which students can easily relate.
  • Illustrative Problem and Solution: A solved problem models one or more of the chapter's assignment problems so that students can apply the modeled procedures to end-of-chapter materials.
  • IFRS Coverage: IFRS icons throughout the text point to specific chapter content that is then detailed in our IFRS table. This table outlines the IFRS impact on accounting concepts.
  • Blueprint Problems in CengageNOW: Blueprint Problems are designed to help students understand the fundamental accounting concepts and their associated building blocks and not just the formulas or journal entries required for a single concept. This allows students to get the overall big picture and to begin to see how accounting concepts are interrelated in one succinct discussion.

New to this Edition

  • NEW ACTIVATION EXERCISES FOR FINANCIAL CHAPTERS: These author-written Activation Exercises in CengageNOW and Aplia are an extension of the Complete Learning System and focus on helping students develop a better understanding of (1) key terms and definitions, (2) the economics of business transactions, (3) how these transactions are recorded in the accounting system, and where relevant, (4) how these transactions are ultimately reflected in the financial statements. The Activation Exercise interactive structure builds the critical thinking skills that are necessary for students to succeed and can be used as an introduction to topics or for review and assessment.
  • NEW ANIMATED ACTIVITIES: Animated Activities in CengageNOW and Aplia are the perfect pre-lecture assignment to expose students to concepts before class! These illustrations visually guide students through selected core topics using a realistic company example to illustrate how the concepts relate to the everyday activities of a business. Animated Activities are assignable or available for self-study and review.
  • NEW BLUEPRINT CONNECTIONS: Blueprint Connections in CengageNOW and Aplia are shorter extensions of the Blueprint Problems that build upon concepts covered and introduced within the Blueprint Problems. These scenario-based exercises help reinforce students' knowledge of the concept, strengthen their analytical skills and are useful as in-class activities or as homework/review after lecture and before the exam.
  • NEW AUTHOR-WRITTEN "Check My Work" FEEDBACK: The written feedback available when students click on "Check My Work" in CengageNOW has been revised by the authors to achieve a more holistic student learning experience.
  • NEW POST-SUBMISSION FEEDBACK: Where appropriate, source calculations and further explanation has been added alongside the solution in CengageNOW to help students understand where they went wrong in solving end-of-chapter items.
  • NEW CONCEPTUAL CONVERSION QUESTIONS: End-of-chapter questions or requirements within larger questions that were previously short answer have been converted to be assignable & gradable within CengageNOW and Aplia. This allows you to better assess students' conceptual understanding of topics, something that has previously been difficult within an online homework system. Green pencil icons in the print text denote which questions have been converted into this format in the technology.
  • NEW EXCEL "Try It" TUTORIALS: Located in the Study Tools Tab in CengageNOW, these activities provide students with basic tutorials on how to use Excel to solve accounting problems. Students practice accounting and manipulate spreadsheets using basic Excel® formulas in a simple step-by-step format. The tutorials reinforce the accounting concepts and help build students' Excel competency.
  • REFRESHED REAL-WORLD INTEGRATION: As with every new edition, the authors have ensured that new real-world companies have been added, real-world data has been updated, and names and values of end-of-chapter material have been changed.
  • REORGANIZATION OF CHAPTER 6: "Accounting for Merchandising Businesses" (Chapter 6) was re-organized to start with purchases and sales transactions and then end with the creation of the multi-step income statement. This model more intuitively follows a similar structure as the cycle chapters (starting with the entries and moving to the financial statements).
  • EXPANDED INVENTORY COVERAGE: "Inventories" (Chapter 7) now includes coverage of the weighted cost method under a perpetual inventory system. The trend to cover perpetual inventory (vs. periodic) and the wide use of popular accounting software packages that use average cost-perpetual (point-of-sale) led to this change. All exhibits and illustrations pertaining to the weighted cost method have been updated.
  • InfoTrac® Student Collections are specialized databases expertly drawn from the Gale Academic One library. Each InfoTrac® Student Collection enhances the student learning experience in the specific course area related to the product. These specialized databases allow access to hundreds of scholarly and popular publications - all reliable sources - including journals, encyclopedias, and academic reports. Learn more and access at: http://gocengage.com/infotrac.

Online Resources

Aplia 1-Semester Instant Access
ISBN-10: 1285178963 |  ISBN-13: 9781285178967
Succeed in your course with 1 semester of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for ACCOUNTING, 25th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

Aplia 2-Semester Instant Access
ISBN-10: 1285163400 |  ISBN-13: 9781285163406
Succeed in your course with 2 semesters of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for ACCOUNTING, 25th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess (360 Day Access) Instant Access
ISBN-10: 1285178173 |  ISBN-13: 9781285178172
Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for ACCOUNTING, 25th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. You'll also receive access to Write Experience 2.0, an innovative system that scores your writing instantly and provides you with detailed revision goals and feedback to put you on track for writing excellence.

Cengage Learning Write Experience 2.0 Powered by MyAccess (360 Day Access) Instant Access
ISBN-10: 1285178130 |  ISBN-13: 9781285178134
Successfully complete your accounting writing assignments with Write Experience 2.0. This innovative system scores your writing instantly and provides you with detailed revision goals and feedback to put you on track for writing excellence

CengageNOW 2-Semester Instant Access
ISBN-10: 1285421868 |  ISBN-13: 9781285421865
Succeed in your accounting course with CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade.

CengageNOW on Blackboard, 2 terms (12 months) Instant Access
ISBN-10: 1285421884 |  ISBN-13: 9781285421889
Succeed in your accounting course with CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade.

CengageNOW with Cengage Learning Write Experience 2.0 Powered by MyAccess 360-Day Instant Access
ISBN-10: 1285178157 |  ISBN-13: 9781285178158
Succeed in your accounting course with CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade. You'll also receive access to Write Experience 2.0, an innovative system that scores your writing instantly and provides you with detailed revision goals and feedback to put you on track for writing excellence.

MindLink for Aplia, 2 terms (12 months) Instant Access
ISBN-10: 1285749944 |  ISBN-13: 9781285749945
Succeed in your course with 2 semesters of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for ACCOUNTING, 25th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

MindLink for CengageNOW, 1 term (6 months) Instant Access
ISBN-10: 1305105931 |  ISBN-13: 9781305105935
Have the tools you need to be successful A variety of tools are available in CengageNOW, all combined in one easy-to-use resource designed to improve your grades. Some resources get you prepared for class and help you succeed on homework, and others show you specific areas where you can work to improve. Stay ahead of the course requirements CengageNOW shows you the path through your course—from first day through finals. Once you know what’s expected, it’s easier to complete your assignments. Gain understanding that stays with you Do well on tests as well as the assignments! Bridge the gap between homework and tests by using CengageNOW to truly understand the material. Self-study and review materials keep you on the right track, to make sure your understanding goes beyond memorization. Set yourself up for better grades Why wonder where you stand? CengageNOW includes trackable assignments and grades. It tells you what to do to improve your grade, and gives you the tools to accomplish it! Student Testimonials: “I love the check your work option. Really, when you’re having a hard time figuring out an answer, sometimes working backwards is the best way to understand conceptually what you’re doing wrong.” - Brad Duncan University of Utah “I liked the videos because they were short enough to teach me and because they were short, I was able to find time to watch them again and again if I did not understand the first time.” - Jennifer Wright Northeast Wisconsin Technical College CTA: Ask your instructor about CengageNOW for this course.

Spreadsheet Success in Accounting, 2 terms (12 months) Instant Access
ISBN-10: 1285196392 |  ISBN-13: 9781285196398

Best Buy Packages

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Bundle: Accounting, 25th + Financial & Managerial Accounting (with Spreadsheet: Success Using Excel® 2-Semester Printed Access Card), 12th
ISBN-10: 1285585992 |  ISBN-13: 9781285585994

Bundle: Accounting, 25th + Financial & Managerial Accounting (with Spreadsheet: Success Using Excel® 2-Semester Printed Access Card), 12th + CengageNOW 2-Semester Printed Access Card
ISBN-10: 128558631X |  ISBN-13: 9781285586311

Bundle: Accounting, 25th + Financial & Managerial Accounting (with Spreadsheet: Success Using Excel® 2-Semester Printed Access Card), 12th + CengageNOW 2-Semester Printed Access Card
ISBN-10: 1285586328 |  ISBN-13: 9781285586328

Bundle: Text + Aplia with MindTap Reader 2-Semester Printed Access Card
ISBN-10: 1285485106 |  ISBN-13: 9781285485102

Bundle: Text + CengageNOW 2-Semester Printed Access Card
ISBN-10: 128558242X |  ISBN-13: 9781285582429

Bundle: Text + CengageNOW on Blackboard® 2-Semester Printed Access Card
ISBN-10: 1285584228 |  ISBN-13: 9781285584225

Bundle: Text + CengageNOW with Cengage Learning Write Experience 2.0 Powered by MyAccess 360-Day Printed Access Card
ISBN-10: 1285997212 |  ISBN-13: 9781285997216

Bundle: Text + CengageNOW with eBook 2-Semester and Cengage Learning Write Experience 2.0 Powered by MyAccess Printed Access Card
ISBN-10: 1285478185 |  ISBN-13: 9781285478180

Bundle: Text + CengageNOW, 2 term (12 months) Printed Access Card
ISBN-10: 1133538657 |  ISBN-13: 9781133538653
Activate Learning with Warren/Reeve/Duchac's, ACCOUNTING! For 25 editions, market-leading ACCOUNTING has been on the forefront of innovation and change based on the needs of today's teaching and learning environment. Warren offers students clear guidance to complete homework with an efficient presentation for today's learner. The high impact writing style and streamlined design makes important information accessible, with a focus on providing the best and most complete examples. The Complete Learning System in ACCOUNTING and CengageNOW is built around the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course. New to this edition, the authors created innovative, unique content offering activities that are best-suited for each point in the learning process. New content like the author-written Activation Exercises, helps students come to class more prepared, and enables them to more easily connect the dots, enhance their depth of knowledge and have better tools for remediation and review. The end goal of Warren/Reeve/Duchac's text and technology learning system is to Activate Learning and create more empowered and prepared students--ready to take on the rest of their educational and career goals. Available with InfoTrac® Student Collections http://gocengage.com/infotrac.

Bundle: Text + General Ledger Software CD-ROM
ISBN-10: 1285584236 |  ISBN-13: 9781285584232

Bundle: Text + Study Guide, Chapters 1-17 and 14-26
ISBN-10: 1285584244 |  ISBN-13: 9781285584249

Bundle: Text + Working Papers, Chapter 1-17
ISBN-10: 1285720512 |  ISBN-13: 9781285720517

Bundle: Text + Working Papers, Chapter 1-17 + Aplia 2-Semester Printed Access Card
ISBN-10: 1285713508 |  ISBN-13: 9781285713502

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ISBN-10: 1285717724 |  ISBN-13: 9781285717722

Bundle: Text + Working Papers, Chapter 1-17 + Study Guide, Chapters 1-17 + CengageNOW on Blackboard® 2-Semester Printed Access Card
ISBN-10: 1285992385 |  ISBN-13: 9781285992389

Bundle: Text + Working Papers, Chapter 1-17 + Working Papers, Chapter 14-26
ISBN-10: 128556913X |  ISBN-13: 9781285569130

Printed Text + Aplia 2-Semester Instant Access
ISBN-10: 1285584252 |  ISBN-13: 9781285584256

Printed Text + CengageNOW 2-Semester Instant Access
ISBN-10: 1285584279 |  ISBN-13: 9781285584270

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ISBN-10: 1285584260 |  ISBN-13: 9781285584263

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ISBN-10: 1285725875 |  ISBN-13: 9781285725871

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ISBN-10: 1305518519 |  ISBN-13: 9781305518513

Printed Text + Working Papers, Chapter 1-17 + CengageNOW 2-Semester Instant Access
ISBN-10: 1285719433 |  ISBN-13: 9781285719436

ePack: Printed Text + CengageNOW on Blackboard 2-Semester Instant Access
ISBN-10: 1305526422 |  ISBN-13: 9781305526426
Activate Learning with Warren/Reeve/Duchac's, ACCOUNTING! For 25 editions, market-leading ACCOUNTING has been on the forefront of innovation and change based on the needs of today's teaching and learning environment. Warren offers students clear guidance to complete homework with an efficient presentation for today's learner. The high impact writing style and streamlined design makes important information accessible, with a focus on providing the best and most complete examples. The Complete Learning System in ACCOUNTING and CengageNOW is built around the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course. New to this edition, the authors created innovative, unique content offering activities that are best-suited for each point in the learning process. New content like the author-written Activation Exercises, helps students come to class more prepared, and enables them to more easily connect the dots, enhance their depth of knowledge and have better tools for remediation and review. The end goal of Warren/Reeve/Duchac's text and technology learning system is to Activate Learning and create more empowered and prepared students--ready to take on the rest of their educational and career goals. Available with InfoTrac® Student Collections http://gocengage.com/infotrac.

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Printed Text + Aplia 2-Semester Instant Access
ISBN-10: 130553140X |  ISBN-13: 9781305531406

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Looseleaf Edition
ISBN-10: 1285069609 |  ISBN-13: