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Accounting 27th Edition

Carl S. Warren | James M. Reeve | Jonathan Duchac

  • Copyright 2018
  • Published
  • Available with:
  • CengageNOWv2

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Overview

Give your students a strong foundation in accounting to prepare them for future business courses and the real world with Warren/Reeve/Duchac’s market-leading ACCOUNTING, 27th. This edition helps students connect concepts to the bigger picture with features such as the new chapter opening schema that allows students to see how each chapter’s specific content fits within the overall framework. A focus on why accounting is important to business and a prosperous society is reinforced throughout. Available in the CengageNOWv2 digital format, this option also includes Why It Matters Concept Clip animations and a new Journal Entry Tool that illustrates the impact of transactions on the accounting equation. In addition, the Warren/Reeve/Duchac hallmark accounting cycle coverage provides unmatched foundation so students are prepared to succeed in later chapters.

Meet the Author

Carl S. Warren, University of Georgia

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 handball, golf, skiing, backpacking, and fly-fishing.

James M. Reeve, University of Tennessee

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, Wake Forest University

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.

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  • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2 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 s
  • 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 t
  • 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 sho
  • 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 stude
  • 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
  • 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 fea
  • 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 d
  • 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
  • MASTERY PROBLEMS IN CENGAGENOW™V2 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
  • 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 helpf

Table of Contents

Accounting

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. Internal Controls and Cash.
9. Receivables.
10. Long-Term Assets: Fixed and Intangible.
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.
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.
Appendix A: Interest Tables.
Appendix B: International Financial Reporting Standards.
Appendix C: Revenue Recognition Update.
Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2015.
Glossary.
Index.
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Accounting, Chapters 1-13

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. Internal Controls and Cash.
9. Receivables.
10. Long-Term Assets: Fixed and Intangible.
11. Current Liabilities and Payroll.
12. Accounting for Partnerships and Limited Liability Companies.
13. Corporations: Organization, Stock Transactions, and Dividends.
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Accounting, Chapters 14-26

TABLE OF CONTENTS

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.
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Supplements

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.

FOR INSTRUCTORS

Instructor’s Companion Website

ISBN: 9781337272193
Find everything you need for your course in one place. This collection of product-specific lecture and class tools is available online via the instructor resource center at www.cengage.com/login. You'll be able to access and download materials, such as PowerPoint® presentations, solutions, instructor’s manual, and more.

Cengage Learning Testing, powered by Cognero® Instant Access

ISBN: 9781337272216
Cengage Learning Testing, powered by Cognero®, is a flexible, online system that allows you to import, edit, and manipulate content from the text's test bank or elsewhere, including your own favorite test questions. Create multiple test versions in an instant and deliver tests from your LMS, your classroom, or wherever you want. You can also export tests in Word format.

Solutions Manual, Chapters 1-17

ISBN: 9781337272179
Author-written and carefully verified multiple times to ensure accuracy and consistency with this edition of the text, the Solutions Manual contains answers to the Discussion Questions, Practice Exercises, Exercises, Problems (Series A and Series B), and Cases and Projects that appear in each chapter. Solutions for the Continuing Problem and Comprehensive Problems are also included. These solutions help you easily plan, assign, and efficiently grade assignments. The Solutions Manual is also available on the password-protected instructor website.

Solutions Manual, Chapters 18-26

ISBN: 9781337272186
Author-written and carefully verified multiple times to ensure accuracy and consistency with this edition of the text, the Solutions Manual contains answers to the Discussion Questions, Practice Exercises, Exercises, Problems (Series A and Series B), and Cases and Projects that appear in each chapter. Solutions for the Continuing Problem and Comprehensive Problems are also included. These solutions help you easily plan, assign, and efficiently grade assignments. The Solutions Manual is also available on the password-protected instructor website.

Working Papers, Chapters 1-17

ISBN: 9781337272155
These working papers provide students with a starting point for completing end-of-chapter assignments from the textbook.

Working Papers, Chapters 18-26

ISBN: 9781337272162
These working papers provide your students with a starting point for completing end-of-chapter assignments from the textbook.

FOR STUDENTS

Working Papers, Chapters 1-17

ISBN: 9781337272155
You’ll find the tools you need to help work through end-of-chapter assignments with these working papers. The preformatted files provide a starting point by giving you a basic structure for journal entries and problems.

Working Papers, Chapters 18-26

ISBN: 9781337272162
You’ll find the tools you need to help work through end-of-chapter assignments with these working papers. The preformatted files provide a starting point by giving you a basic structure for journal entries and problems.

Chic Events by Jada Practice Set with Cengage Learning General Ledger Software, 2 terms (12 months) Printed Access Card

ISBN: 9781337272483
This practice set includes payroll transactions and purchases and sales for a merchandising business operated as a proprietorship. It includes business documents for a company that plans weddings, anniversaries, birthday parties, and corporate events, as well as selling party supplies. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 12-15 hours.

Fit and Fashionable Practice Set with Cengage Learning General Ledger Software, 2 terms (12 months) Printed Access Card

ISBN: 9781337272575
This practice set is a merchandising business operated as a proprietorship. This business is a retail and wholesale seller of fitness equipment and apparel. This set includes a general journal and special journals: sales journal, purchases journal, cash receipts journal, and cash payments journal. It also includes sub- and general ledgers, a checkbook register, and source documents. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 14-15 hours.

Hydro Paddle Boards Practice Set with Cengage Learning General Ledger, 2 terms (12 months) Printed Access Card

ISBN: 9781305671553
This practice set is for a manufacturing business operated as a corporation. The corporation designs and manufactures custom paddle boards and uses a job-order cost system. This set includes subsidiary ledgers, a schedule of employer payroll taxes, a schedule of unfinished goods, and job cost records. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 13-15 hours.

JP's Tech Solutions with Cengage Learning General Ledger, 2 terms (12 months) Printed Access Card

ISBN: 9781305671577
This practice set covers the complete accounting cycle for a retail merchandising and service business operated as a small corporation. It includes a narrative of transactions, which are to be recorded in special journals. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 15-16 hours.

Lawn Ranger Landscaping Practice Set with Cengage Learning General Ledger Software, 2 term (12 months) Printed Access Card

ISBN: 9781305581470
This practice set covers the complete accounting cycle for a small service business operated as a proprietorship. You will follow a narrative of transactions and instructions for an optional solution with no debits and credits. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 15-16 hours.

My Place: House of Décor Practice Set with Cengage Learning General Ledger, 2 terms (12 months) Printed Access Card

ISBN: 9781337272841
This practice set is based on a service and merchandising business operated as a corporation. My Place: House of Décor is an interior design firm that provides services to clients for the first months, and then adds a new component to the business for the last months -- purchasing and selling antique furniture. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 15-17 hours.