Higher Education

Financial & Managerial Accounting, 10th Edition

  • Carl S. Warren University of Georgia
  • James M. Reeve University of Tennessee
  • Jonathan Duchac Wake Forest University
  • ISBN-10: 0324663811  |  ISBN-13: 9780324663815
  • 1400 Pages
  • Previous Editions: 2007, 2005, 2002
  • © 2009 | Published
  • College Bookstore Wholesale Price = $312.00
  • Newer Edition Available
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About

Overview

With a firm understanding of the changing needs of students, FINANCIAL AND MANAGERIAL ACCOUNTING, 10E, leads students to accounting mastery using an integrated learning system. Building on the authors' proven approach, students are guided through the preparation of financial statements as the authors artfully provide a framework for understanding what accounting is all about and accounting's evolving role in business.

Features and Benefits

  • 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 as they are presented in the text. This feature also provides a list of Practice Exercises that parallel the Example Exercises so students get the practice they need.
  • "At a Glance" Chapter Summary: The "At a Glance" summary grid ties everything together and helps students stay on track. First, the Key Points recap the chapter content for each chapter objective. Second, the related Key Learning Outcomes list all of the expected student performance capabilities that come from completing each objective. In case students need further practice on a specific outcome, the last two columns reference related Example Exercises and their corresponding Practice Exercises. In addition, the "At a Glance" grid guides struggling students from the assignable Practice Exercises to the resources in the chapter that will help them complete their homework. Through this intuitive grid, all of the chapter pedagogy links together in one cleanly integrated summary.
  • Interesting Chapter Openers: Building on the strengths of past editions, these openers continue to relate the accounting and business concepts in the chapter to students' lives. These openers employ examples of real companies and provide invaluable insight into real practice. Several of the openers created especially for this edition focus on interesting companies such as Apple; Dollar Tree; Hasbro; and News Corporation (Fox), the parent company of the hit television shows AMERICAN IDOL and THE SIMPSONS.
  • 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 15, "Financial Statement Analysis." Furthermore, students get to 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.
  • 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. No matter where they are found, elements that use material from real companies are indicated with a unique icon 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 1–5, 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 nonbusiness events to which students can easily relate.
  • Summaries: Within each chapter, these synopses draw special attention to important points and help clarify difficult concepts.
  • Self-Examination Questions: Five multiple-choice questions, with answers at the end of the chapter, help students review and retain chapter concepts.
  • 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.
  • 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, CORPORATE FINANCIAL ACCOUNTING, 10E, goes beyond presenting theory and procedure with comprehensive, time-tested end-of-chapter material.

Table of Contents

1. Introduction to Accounting and Business.
2. Analyzing Transactions.
3. The Adjusting Process.
4. Completing the Accounting Cycle.
5. Accounting for Merchandising Businesses.
6. Inventories.
7. Sarbanes Oxley, Internal Controls, & Cash.
8. Receivables.
9. Fixed Assets and Intangible Assets.
10. Current Liabilities & Payroll.
11. Corporations: Organization, Capital Stock Transactions, and Dividends.
12. Long-Term Liabilities: Bonds and Notes
13. Investments and Fair Value Accounting
Complete Financial Statements for Mornin' Joe.
14. Statement of Cash Flows.
15. Financial Statement Analysis.
16. Introduction to Managerial Accounting.
17. Job Order Cost Systems.
18. Process Cost Systems.
19. Cost Behavior and Cost-Volume-Profit Analysis.
20. Variable Costing for Management Analysis
21. Budgeting.
22. Performance Evaluation Using Variances from Standard Costs.
23. Performance Evaluation for Decentralized Operations.
24. Differential Analysis and Product Pricing.
25. Capital Investment Analysis.
26. Cost Allocation and Activity-Based Costing.
27. Cost Management for Just-in-Time Environments.
Appendix A: Interest Tables.
Appendix B: Reversing Entries.
Appendix C: Special Journals and Subsidiary Ledgers.
Appendix D: Merchandising End-of-Period Spreadsheet.
Appendix E: Annual Report.
Appendix F: International Financial Reporting Standards to the TOC.

What's New

  • New Guiding Principles System: Students easily locate the information they need to master course concepts with the new "Guiding Principles System (GPS)" at the beginning of every chapter. This innovative system plots a course through the chapter content by displaying the chapter objectives, major topics related to each chapter objective, and related Example Exercises. The reference to the "At a Glance" chapter summary completes this proven system that leads students quickly to the information they need.
  • Enhanced Example Exercises: Reinforce concepts and build students' confidence through Example Exercises, which create consistency between the chapter presentation and assignable material. Students follow the authors' example in the chapter to complete the Practice Exercises at the end of the chapter. With consistent labeling references between the Example Exercises and Practice Exercises, students get the guidance and practice they need.
  • Written for Today's Students. Designed for today's students, the 10th edition has been revised using an innovative, high-impact writing style that emphasizes topics in a concise and clearly written manner. Direct sentences, concise paragraphs, and numbered lists provide students with an easy-to-follow structure for learning accounting. This is achieved without sacrificing content or rigor.
  • Mornin' Joe Financial Statements: Beginning with Chapter 6, "Inventories," and continuing through Chapter 13, "Investments and Fair Value Accounting," each chapter contains an excerpt from the full financial statements for Mornin' Joe, a coffee company. The addition of this new example shows students the big picture of accounting by providing a consistent reference point for users who want to see an entire set of financial statements and the way each chapter topic fits within them. The financial statements were crafted by the authors to be consistent with the presentation in each chapter, and the numbers were kept simple for introductory students.
  • Long-Term Liabilities: Bonds and Notes: In this edition, long-term liabilities are consolidated into a single chapter to provide students a more cohesive presentation of a corporation's activities. New coverage of installment notes provides added context and an example from student's lives.
  • Investments and Fair Value Accounting: A new chapter on investments and fair value accounting has been written to consolidate coverage of both bond and stock investments, as well as trading securities, into one chapter. The chapter also introduces a brief conceptual discussion of fair value accounting and its increasing role in defining today's modern accounting methods.
  • Modern User-Friendly Design: Based on students' testimonials of what they find most useful, this streamlined presentation includes a wealth of helpful resources without the clutter. To update the look of the material, some Exhibits use computerized spreadsheets to better reflect the changing environment of business. Visual learners will appreciate the generous number of exhibits and illustrations used to convey concepts and procedures.
  • New end-of-text appendix provides expanded coverage of IFRS and includes an exhibit that outlines relevant differences between US GAAP and IFRS for added currency.

Alternate Formats

Choose the format that best fits your student's budget and course goals

To customize your learning solution, contact your Learning Consultant for more information.

  • Loose Leaf Edition

    ISBN-10: 0324593708 | ISBN-13: 9780324593709

    List Price = $263.95  | College Bookstore Wholesale Price = $198.00

Learning Resource Bundles

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Learning Consultant for more information.

Bundle: Financial & Managerial Accounting, 10th + International Financial Reporting Standards

ISBN-10: 0538760710 | ISBN-13: 9780538760713

List Price = $394.95  | College Bookstore Wholesale Price = $292.25

This Bundle Includes:

  • Financial & Managerial Accounting
    List Price = $414.95  | CengageBrain Price = $414.95  | College Bookstore Wholesale Price = $312.00
  • International Financial Reporting Standards
    List Price = $52.95  | College Bookstore Wholesale Price = $39.75


Efficacy and Outcomes

Reviews

"That's awesome! (Referring to the new GPS)."

— Amanda Baker, Davenport University Student

"I like the GPS. It is extremely useful to have a place where the material is condensed and right in front of you."

— John Barnett, Lansing Community College Student

"I really like that you have what exercises go with what section. Accounting is doing it, so it helps you know what you have to do."

— Brianna Miller, Southern Adventist University Student

"I find Example Exercises very useful. Without examples homework takes longer and is much harder to complete."

— Ana Zelaya, Houston Community College Student

"Example Exercises save me!"

— Bradlee J. Van Alstine, Oakland Community College Student

"I love the key points in the back."

— Star Maddox, DeKalb Technical College Student

"I think Kelly Consulting is great. It's something great to always refer back to."

— Amanda Baker, Davenport University

"Excellent!"

— Barbara Bryant, Dekalb Technical College:

"I would probably get better grades on my homework if I had Kelly Consulting in front of me."

— Angela Snyder, Cardinal Stritch University

"This seems so much simpler and easier to understand."

— Jennifer Jones, Lansing Community College

"Looks much better than what I currently use. All books should be more like this."

— Ryan Shead, Oakland Community College Student

"Much better than my current text!"

— Angela Snyder, Cardinal Stritch University Student

"This is a great book!"

— Nicole Sutherland, Grossmont College Student

"Book is well laid out and organized. Easy to identify different topics and objectives."

— Derek Weaver, Oakland Community College Student

Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" tab, then select "What's New" for updates specific to title's edition.

For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor Supplements

CengageNOW 2-Semester Instant Access  (ISBN-10: 0324596766 | ISBN-13: 9780324596762)

CengageNOW is an easy-to-use online resource that helps you study in less time to get the grade you want.

List Price = $165.00  | CengageBrain Price = $165.00  | College Bookstore Wholesale Price = $165.00

Aplia Instant Access  (ISBN-10: 1439079366 | ISBN-13: 9781439079362)

List Price = $165.00  | College Bookstore Wholesale Price = $123.75

CengageNOW on Blackboard® 2-Semester Instant Access Code  (ISBN-10: 0324780834 | ISBN-13: 9780324780833)

CengageNOW is an easy-to-use online resource that helps you study in less time to get the grade you want.

List Price = $165.00  | College Bookstore Wholesale Price = $165.00

Online Excel™ Spreadsheet  (ISBN-10: 0324664702 | ISBN-13: 9780324664706)

These templates are provided for selected long or complicated end-of-chapter exercises and problems and provide assistance to the student as they set up and work the problem. Certain cells are coded to display a red asterisk when an incorrect answer is entered, which helps students stay on track. Selected problems that can be solved using these templates are designated by an icon. Instructor's solutions templates are found on the IRCD (0324664729) and instructor website.

List Price = $62.95  | College Bookstore Wholesale Price = $47.50

PowerPoint presentations are found on the IRCD (0324664729) and instructor website. Each presentation enhances lectures and simplifies class preparation. Each chapter contains objectives followed by a thorough outline of the chapter that easily provide an entire lecture model. Also, exhibits from the chapter, such as the Example Exercises, have been recreated as colorful PowerPoint slides to create a powerful, customizable tool.

WebTutor™ on WebCT™ 2-Semester Instant Access Code  (ISBN-10: 0324596812 | ISBN-13: 9780324596816)

Improve your grades with WebTutor™ online review and test prep tools.

List Price = $52.00  | College Bookstore Wholesale Price = $52.00

Working Papers, Chapters 1-15  (ISBN-10: 0324664664 | ISBN-13: 9780324664669)

The traditional working papers include problem-specific forms for preparing solutions for Exercises, A & B Problems, the Continuing Problem, and the Comprehensive Problems from the textbook. These forms, with preprinted headings, provide a structure for the problems, which helps students get started and saves them time. Additional blank forms are included.

List Price = $66.95  | CengageBrain Price = $66.95  | College Bookstore Wholesale Price = $50.00

WebTutor™ on Blackboard® 2-Semester Instant Access Code  (ISBN-10: 0324597657 | ISBN-13: 9780324597653)

Improve your grades with WebTutor™ online review and test prep tools.

List Price = $52.00  | College Bookstore Wholesale Price = $52.00

Bundle: Text + Global Economic Crisis (GEC) Printed Access Card  (ISBN-10: 1439051631 | ISBN-13: 9781439051634)

List Price = $445.95  | College Bookstore Wholesale Price = $335.25

Bundle: Text + Working Papers, Chapters 1-15  (ISBN-10: 0324807163 | ISBN-13: 9780324807165)

List Price = $481.95  | College Bookstore Wholesale Price = $362.00

Student Supplements

CengageNOW 2-Semester Instant Access  (ISBN-10: 0324596766 | ISBN-13: 9780324596762)

CengageNOW is an easy-to-use online resource that helps you study in less time to get the grade you want.

List Price = $165.00  | CengageBrain Price = $165.00  | College Bookstore Wholesale Price = $165.00

Aplia Instant Access  (ISBN-10: 1439079366 | ISBN-13: 9781439079362)

Aplia™ is an online interactive learning solution that helps you improve comprehension – and your grade – by integrating a variety of mediums and tools such as video, tutorials, practice tests and interactive e-book. Founded by a professor to enhance his own courses, Aplia provides automatically graded assignments with detailed, immediate feedback on every question, and innovative teaching materials. More than 1,000,000 students like you have used Aplia at over 1800 institutions. Aplia should be purchased only when assigned by your instructor as part of your course.

List Price = $165.00  | College Bookstore Wholesale Price = $123.75

Aplia™, 1 term Instant Access  (ISBN-10: 111192807X | ISBN-13: 9781111928070)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for FINANCIAL & MANAGERIAL ACCOUNTING, 10th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $135.00  | CengageBrain Price = $135.00  | College Bookstore Wholesale Price = $135.00

Aplia™, 2 terms Instant Access  (ISBN-10: 1111966168 | ISBN-13: 9781111966164)

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 FINANCIAL & MANAGERIAL ACCOUNTING, 10th 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.

List Price = $165.00  | CengageBrain Price = $165.00  | College Bookstore Wholesale Price = $165.00

CengageNOW on Blackboard® 2-Semester Instant Access Code  (ISBN-10: 0324780834 | ISBN-13: 9780324780833)

CengageNOW is an easy-to-use online resource that helps you study in less time to get the grade you want.

List Price = $165.00  | College Bookstore Wholesale Price = $165.00

Online Excel™ Spreadsheet  (ISBN-10: 0324664702 | ISBN-13: 9780324664706)

These templates are provided for selected long or complicated end-of-chapter exercises and problems and provide assistance to the student as they set up and work the problem. Certain cells are coded to display a red asterisk when an incorrect answer is entered, which helps students stay on track. Selected problems that can be solved using these templates are designated by an icon. Instructor's solutions templates are found on the IRCD (0324664729) and instructor website.

List Price = $62.95  | College Bookstore Wholesale Price = $47.50

WebTutor™ on WebCT™ 2-Semester Instant Access Code  (ISBN-10: 0324596812 | ISBN-13: 9780324596816)

Improve your grades with WebTutor™ online review and test prep tools.

List Price = $52.00  | College Bookstore Wholesale Price = $52.00

Working Papers, Chapters 1-15  (ISBN-10: 0324664664 | ISBN-13: 9780324664669)

The traditional working papers include problem-specific forms for preparing solutions for Exercises, A & B Problems, the Continuing Problem, and the Comprehensive Problems from the textbook. These forms, with preprinted headings, provide a structure for the problems, which helps students get started and saves them time. Additional blank forms are included.

List Price = $66.95  | CengageBrain Price = $66.95  | College Bookstore Wholesale Price = $50.00

WebTutor™ on Blackboard® 2-Semester Instant Access Code  (ISBN-10: 0324597657 | ISBN-13: 9780324597653)

Improve your grades with WebTutor™ online review and test prep tools.

List Price = $52.00  | College Bookstore Wholesale Price = $52.00

Bundle: Text + Global Economic Crisis (GEC) Printed Access Card  (ISBN-10: 1439051631 | ISBN-13: 9781439051634)

List Price = $445.95  | College Bookstore Wholesale Price = $335.25

Bundle: Text + Working Papers, Chapters 1-15  (ISBN-10: 0324807163 | ISBN-13: 9780324807165)

List Price = $481.95  | College Bookstore Wholesale Price = $362.00

Meet the Author

Author Bio

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 handball, golf, 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. 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

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.