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Help your advanced accounting students master the theory and practice they need for professional success with Fischer/Taylor/Cheng’s ADVANCED ACCOUNTING, 12E. This leading text offers your students the most authoritative, comprehensive coverage of advanced accounting topics available. This edition explores the latest FASB statements and their impact on consolidations. The authors combine sound theoretical foundations with a hands-on approach using numerous actual examples common in today’s accounting. The text’s proven focus on conceptual understanding and clear presentation style make even the most complex topics approachable. New and revised end-of-chapter questions reinforce major concepts from each chapter and challenge students to expand their critical thinking and reasoning skills. Only ADVANCED ACCOUNTING, 12E uses a horizontal approach to consolidations, the format most commonly used in today’s business world. A trusted preparation resource for the CPA exam, ADVANCED ACCOUNTING, 12E provides the knowledge your students need for ongoing accounting success.
- New Special Appendix Covers Variable Interest Entities: This unique appendix, following Chapter 8 discusses the unique features of Variable Interest Entities in detail.
- Updated End-Of-Chapter Materials Reinforce Concepts and Stretch Critical-Thinking Skills: Abundant new or revised exercises and problems reinforce chapter concepts with class-tested practice. “Understanding The Issues” questions require students to think beyond the chapter presentation as they expand both reasoning and discussion skills. “Reflection” features connect applications with higher-level theory.
- Text Reflects The Latest FASB Standards: FASB standards and updates for Business Consolidations ensure this edition offers the most recent information and developments for your course. Excellent explanations of the effect of these updates and their impact on Financial Accounting make certain your students understand the principles presented.
- Complete, Authoritative Coverage Prepares Students for CPA Exam: Known for its comprehensive coverage of consolidations, derivatives, international accounting, and governmental and not-for-profit accounting, this book provides your students with the coverage they need to prepare effectively for the CPA exam.
- Comprehensive Coverage of Consolidations Emphasizes The Most Widely Used Spreadsheet Approach: Eight chapters and two special appendices on consolidations offer a unique, step-by-step approach that clarifies this complex topic. The book’s trial-balance/horizontal worksheet format emphasizes the method most common in business today. Optional vertical worksheet coverage is also included.
- Optional Derivatives Module Prepares Students for Multinational Study: An optional module provides in-depth coverage of derivatives before the multinational chapters to emphasize this important background before students study the hedging of foreign currency.
- Integrated Coverage of Excel® Helps Students Master This Critical Tool: An easy-to-follow Excel tutorial on the companion website guides students through creating Excel worksheets, while Electronic Working Papers on the website provide efficient tools for students to complete selected end-of-chapter problems. Excel templates and solutions are also available.
2. Consolidated Statements: Date of Acquisition.
3. Consolidated Statements: Subsequent to Acquisition.
4. Intercompany Transactions: Merchandise, Plant Assets, and Notes.
5. Intercompany Transactions: Bonds and Leases.
6. Cash Flows, EPS, and Taxation.
7. Special Issues in Accounting for an Investment in a Subsidiary.
8. Subsidiary Equity Transactions; Indirect Subsidiary Ownership and Subsidiary Ownership of Parent Shares.
Appendix 1: Accounting for Influential Investments.
Appendix 2: Variable Interest Entities
9. The International Accounting Environment.
Module: Derivatives and Related Accounting Issues.
10. Foreign Currency Transactions.
11. Translation of Foreign Financial Statements.
12. Interim Reporting and Disclosures about Segments of an Enterprise.
13. Partnerships: Characteristics, Formation, and Accounting for Activities.
14. Partnerships: Ownership Changes and Liquidations.
15. Governmental Accounting: The General Fund and the Account Groups.
16. Governmental Accounting: Other Governmental Funds, Proprietary Funds, and Fiduciary Funds.
17. Financial Reporting Issues.
18. Accounting for Private Not-for-Profit Organizations.
19. Accounting for Not-for-Profit Colleges and Universities and Health Care Organizations.
20. Estates and Trusts: Their Nature and the Accountant’s Role.
21. Debt Restructuring, Corporate Reorganizations, and Liquidations.
“[The Fischer et al. text] is very good, very thorough, and very comprehensive. One of the few on top of my list!”
“I have used several different Advanced Accounting texts in my 25 years of teaching accounting. I find the Fischer text to be the best for explaining complicated advanced accounting subjects. The end of chapter problems are well written and follow the material presented in the chapter in a meaningful way.”
"The textbook is the best one out there."
“With this textbook students will think critically about accounting, just as they will do while preparing for the CPA exam and in their future careers. With this text, students gain a well-balanced appreciation of the Accounting profession. This textbook introduces students to the field’s many aspects. This text continues to show the development of financial reporting in our global village.”
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.
Expand your students’ understanding of advanced accounting with the numerous instructor and student resources available on this edition’s companion website. Easily download password-protected instructor resources. Students can review concepts using interactive learning tools. Easy-to-follow Excel® tutorials guide students in creating Excel worksheets, while Electronic Working Papers on the website provide tools to complete end-of-chapter problems. Excel templates and solutions are also available.
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