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Financial Accounting 15th Edition

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

  • Published
  • Previous Editions 2016, 2014, 2012
  • 1008 Pages
Starting At 130.00 See pricing and ISBN options

Overview

Give your students a strong foundation in financial accounting to prepare them for future business courses and the real world with Warren/Reeve/Duchac’s market-leading FINANCIAL ACCOUNTING, 15E and CengageNOWv2. 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 of the book. A focus on why accounting is important to business and a prosperous society is reinforced throughout with Why It Matters Concept Clip animations in CengageNOWv2 and a new CengageNOWv2 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.

Carl S. Warren, University of Georgia, Athems

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.
  • NEW GRAPHIC SCHEMAS PROVIDE A ROADMAP OF ACCOUNTING THAT EMPHASIZES RELEVANCE AND BIG-PICTURE CONTEXT. Each chapter starts with a graphic schema that provides a “you are here” map to help students navigate course content. The schema shows how the concept the student is about to learn connects to the larger business and accounting picture.
  • OPENING CHAPTERS EMPHASIZE THE REPORT FORM OF THE BALANCE SHEET. Students leave your course prepared to use today’s most popular format for balance sheets.
  • ACCOUNT NUMBERS APPEAR IN TRIAL BALANCES. The authors have carefully included account numbers whenever these account numbers are part of the information set.
  • NEW JOURNAL ENTRY TOOL IN CNOWV2 ILLUSTRATES IMPACT OF TRANSACTIONS ON THE ACCOUNTING EQUATION. In CNOWv2, as a student enters data into the journal, the accounting equation automatically populates to show the link between the transaction and the accounting equation.
  • NEW “WHY IT MATTERS” CONCEPT CLIPS IN CENGAGENOWV2 EXPOSE STUDENTS TO WHY ACCOUNTING MATTERS. Brief captivating video clips that expose students to why the concept is important and how the concept is used in the real world. This is especially helpful information for students who are not accounting majors. Concept Clips are assignable and gradable in CengageNOWv2.
  • 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 helpful to engage students who are not accounting majors.
  • AUTHOR WRITTEN END-OF-CHAPTER MATERIALS PROVIDE AN ACCURACY YOU AND YOUR STUDENTS CAN TRUST. The authors apply their vast experience to develop and revise this edition’s end-of-chapter materials. In addition, all end-of-chapter content is verified by dedicated Subject Matter Experts.
  • UPDATE TO CLOSING ENTRIES: In an effort to simplify and reflect current practice, this edition moved to two closing entries instead of four.
  • REDESIGNED CHAPTER FLOW ENHANCES CONTINUITY AND ENSURES CONTENT IS EASY TO FOLLOW. Several chapters now offer an enhanced structure and flow with significant improvements particularly in this edition’s Merchandising and Fixed Asset chapters.
  • UPDATES REFLECT THE MOST RECENT CHANGES IN ACCOUNTING POLICY. Students study the latest developments in the areas of revenue recognition, lease accounting, and international standards.
  • UPDATED TERMINOLOGY ENSURES STUDENTS ARE PREPARED TO DISCUSS ACCOUNTING LIKE PROFESSIONALS. Areas throughout this edition, particularly in the content for financial ratios, provides updated accounting terms that reflect today’s more standard usage.
  • 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 student learning outcomes. CengageNOWv2 offers pre-class activities, practice opportunities that prepare students for exams, and innovative tools that help students master course content.
  • 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 text. This edition’s Chapter 3, The Adjusting Process, is now revised to reflect this pedagogy.
  • 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 short/concise paragraphs and bullets, stepwise progression, and meaningful Illustrations and graphs to engage students and ensure retention.
  • 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 students avoid common mistakes and pitfalls, keeping them on track and reducing frustration. Identified by an icon in the text margins, "Show Me How" videos correspond to specific assignments in CengageNOW™v2 and offer ideal opportunities for self-study and review.
  • 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 like never before. Clearly identified by icons in the text, Dynamic Exhibits are embedded within the eReader in CengageNOW™v2. They are assignable and gradable in CengageNOW™v2 and offer valuable tools for students to study and review.
  • 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 features, called Ethics: Don’t Do It, the situation demonstrates a negative ethical response.
  • 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 discussion.
  • 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 chapter content in margin notes throughout the chapter.
  • 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 students understand foundational content and the associated building blocks versus memorizing the formulas or journal entries. Mastery Problems are assignable and easily gradable in CengageNOWv2.
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.
Appendix A: Interest Tables.
Appendix B: International Financial Reporting Standards.
Appendix C: Revenue Recognition.
Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2015.
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.

Standalone Digital Access — Ultimate Value

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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

Cengage Learning Testing, powered by Cognero® Instant Access

ISBN: 9781337272230
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.

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.

FOR STUDENTS

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.

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.

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.