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New

Using Financial Accounting Information: The Alternative to Debits and Credits 10th Edition

Gary A. Porter, Curtis L. Norton

  • Published
  • Previous Editions 2015
  • 848 Pages
Starting At 130.00 See pricing and ISBN options

Overview

Using a proven non-debit/credit approach that emphasizes the decision-usefulness of accounting information and de-emphasizes mechanical procedures, USING FINANCIAL ACCOUNTING INFORMATION, 10E enables students to be effective decision makers and business leaders. Porter’s unique Transaction Analysis Model demonstrates the effects of economic events on the balance sheet and the income statement. In addition, this book introduces financial data and business strategies through highly-recognizable focus companies that draw students in. Finally, larger topics are broken up into modules that encourage students to review and learn in manageable segments.

Gary A. Porter, Drake University

Dr. Gary A. Porter earned his M.B.A. and Ph.D. degrees from the University of Colorado. Throughout his career, Dr. Porter has taught at several universities, including San Diego State; Loyola University Chicago; and the University of Montana. He has also served as a department chair. He is currently Distinguished Lecturer at Drake University. Widely published and the recipient of numerous teaching awards, Dr. Porter has conducted workshops on introductory accounting education and corporate financial reporting, has worked as a staff accountant with Deloitte & Touche, and has actively served the Illinois CPA Society, American Accounting Association, and Financial Executives International.

Curtis L. Norton, Arizona State University

Dr. Curtis L. Norton received his Ph.D. from Arizona State University and an M.B.A. from the University of South Dakota. He is currently Clinical Professor of Accounting at Arizona State University. As Professor of Accounting at Northern Illinois University for more than 30 years, Dr. Norton earned the University Excellence Teaching Award and has published in The Accounting Review, The Journal of Accounting Education, CPA Journal, and many other professional journals. A member of the American Accounting Association and Financial Executives International, he also consults and conducts training for private and governmental authorities, banks, and utilities.
  • UNIQUE MODULAR ORGANIZATION IS BUILT FOR TODAY’S STUDENTS. This edition breaks each chapter into logical grouping of concepts, allowing students to absorb the chapter content in smaller sections for better retention.
  • TEST YOURSELF REVIEWS LET STUDENTS CHECK THEIR UNDERSTANDING BEFORE MOVING AHEAD. These helpful reviews at the end of each module provide students with an opportunity to check their understanding, answer questions, and complete brief exercises that are designed to help build confidence. Answers to the Test Yourself reviews are located at the end of the chapter so students can immediately check their comprehension.
  • HOW WILL I USE ACCOUNTING? SIDEBARS DEMONSTRATE RELEVANCE. Students gain an appreciation of the importance of what they are learning as these relevant examples demonstrate how marketing, sales and management professionals use these accounting principles for success in their careers.
  • TWO NEW FLAGSHIP COMPANIES, CHIPOTLE MEXICAN GRILL AND PANERA BREAD, CAPTURE STUDENT ATTENTION. These new company examples, as well as the others in the book, help students see how the concepts they are learning are used in the real-world. These two companies were chosen for their appeal to students and the straightforward nature of their financial statements. In addition, two new focus companies, Vail Resorts (skiing) and Regal Entertainment (movie theaters), are also introduced to motivate student learning.
  • REVISED COVERAGE EMPHASIZES NEW ACCOUNTING STANDARDS ON REVENUE RECOGNITION. Updated sections throughout the book detail the new accounting standard on revenue recognition. You will find all of the important new concepts and terminology associated with this new standard.
  • AUTHOR-CREATED END-OF-CHAPTER QUESTIONS REQUIRE STUDENTS TO APPLY THE MODELS THEY'VE LEARNED WITHIN THE BOOK AND ONLINE. These effective end-of-chapter questions are now continued within the online experience in CengageNOW™v2. Interactive decision problems and cases further reinforce the Financial Decision Framework with a hands-on analysis and decision-making experience.
  • THE ETHICAL DECISION MODEL IS INTEGRATED INTO SELECTED PROBLEMS AND ETHICAL DECISION CASES. Students are required to apply the ethical decision model within selected problems and within Ethical Decision Cases at the end of each chapter. Select chapters introduce timely ethical issues, and end-of-chapter cases ask students to apply an Ethical Decision Model introduced in Chapter 1 to evaluate the situation and make ethical decisions. Throughout the book, the ethical model provides a stepped-method of reaching ethical decisions through identification, analysis, and resolution.
  • UPDATED REAL COMPANY FINANCIAL STATEMENTS PROVIDE CURRENT FINANCIAL REPORTING AND BUSINESS CONDITIONS. These actual financial statements offer timely as well as accurate company descriptions and ratios based on the latest 10-K financials.
  • CENGAGENOW™V2 PROVIDES MINDTAP® READER AND OTHER IMPROVEMENTS FOR A STRONGER LEARNING EXPERIENCE. CengageNOW™v2 offers an enhanced eBook experience, additional algorithmic questions, and updated Blueprint Problems. CengageNOW™v2 also includes "What If" Problems that require students to modify question data and observe and evaluate its effects.
  • "WORKING-BACKWARD" EXERCISES EMPHASIZE RESULTS. These unique exercises in the end-of-chapter homework give students the "result" in journal entries, account balances, balance sheets, income statement presentations/amounts, or ratios. Students are asked to work backward to arrive at an answer to the exercise. This type of problem solving helps students think critically about key accounting concepts.
  • TRANSACTIONS ARE NOTATED USING A TRANSACTION-EFFECTS EQUATION. This transaction-effect equation graphically shows how the transaction affects the balance sheet, the income statement, and the relationship between changes in net income and changes in stockholders’ equity.
  • IFRS COVERAGE APPEARS IN SELECTED SECTIONS OF THE TEXT. These references to the IFRS, identified by a special icon, provide a brief background for the upcoming changes in financial standards that are fully covered in the book's IFRS appendix.
  • KEY ANNUAL REPORT EXCERPTS FROM CHIPOTLE AND PANERA BREAD EMPHASIZE THE ROLE OF ACCOUNTING IN BUSINESS. These real annual reports bring the value of financial accounting information into focus for students as well as provide an interesting industry comparison.
  • BOOK PROVIDES EARLY INTRODUCTION TO THE STATEMENT OF CASH FLOWS. This early introduction exposes students to the delicate balance between operations and a company's investing and financing activities. It also clearly shows how its management impacts an organization's viability.
  • ALTERNATE TERMS SECTION ILLUSTRATES VARIATIONS IN TERMINOLOGY ACROSS COMPANIES, REGIONS, AND USERS. Found at the end of each chapter, this Alternate Problems Section also includes additional problems to assign. Problems are modeled after problems in the book’s regular Problems Sections and are designed to deepen students' understanding.
  • THE TRANSACTION MODEL EMPHASIZES DECISION-MAKING IN RECORDING TRANSACTIONS AND UNDERSTANDING DECISIONS THAT ACCOUNTANTS MAKE. This model asks students to determine whether the transaction is an operating, financing or investing activity. Students must understand the accounts being used and how they're impacted. They must also determine what effect transactions will have on the accounting equation and, ultimately, on the financial statements. This model extends into CengageNOW™v2 with questions that measure students' understanding of the effects of transactions they are recording.
  • A STRONG FRAMEWORK TEACHES STUDENTS TO IDENTIFY RELEVANT INFORMATION, ANALYZE IT, AND MAKE BETTER BUSINESS DECISIONS. A two-part Financial Decision Framework includes a Ratio Decision Model and a Business Decision Model. This framework, integrated throughout the text, provides students with models for honing their analysis and decision-making skills using real company information in a relevant, applicable context. The models continue in the end-of-chapter questions, giving students an opportunity to apply the models in practice.
  • THE RATIO DECISION MODEL GUIDES STUDENTS THROUGH FORMULATING A QUESTION ABOUT A REAL COMPANY. As part of the book’s Financial Decision Framework, this model helps students form a question, then calculate, compare, and interpret ratios.
  • THE FINANCIAL DECISION FRAMEWORK GUIDES STUDENTS THROUGH A BUSINESS DECISION MODEL. Moving a step beyond the Ratio Decision Model, this model leads students through the process of asking a question as a user of financial information. Students also gather and analyze the necessary information, make a decision, and then monitor that decision.
1. Accounting as a Form of Communication.
2. Financial Statements and the Annual Report.
3. Processing Accounting Information.
4. Income Measurement and Accrual Accounting.
5. Inventories and Cost of Goods Sold.
6. Cash and Internal Control.
7. Receivables and Investments.
8. Operating Assets: Property, Plant, and Equipment, and Intangibles.
9. Current Liabilities, Contingencies, and the Time Value of Money.
10. Long-Term Liabilities.
11. Stockholders' Equity.
12. The Statement of Cash Flows.
13. Financial Statement Analysis.
Appendix A: International Financial Reporting Standards.
Appendix B: Excerpts from Chipotle’s Form 10-K.
Appendix C: Excerpts from Panera Bread’s Form 10-K.
Glossary.
Index.
CengageNOWv2
CengageNOWv2 combines the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course in a digital world.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

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