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Financial Accounting: An Introduction to Concepts, Methods and Uses 14th Edition

Roman L. Weil, Katherine Schipper, Jennifer Francis

  • Published
  • Previous Editions 2010, 2007, 2006
  • 864 Pages
Starting At 130.00 See pricing and ISBN options


Ideal for graduate, MBA, and rigorous undergraduate programs, FINANCIAL ACCOUNTING: AN INTRODUCTION TO CONCEPTS, METHODS, AND USES 14e presents both the basic concepts underlying financial statements and the terminology and methods that allows the reader to interpret, analyze, and evaluate corporate financial statements. Fully integrating the latest International Financial Reporting Standards, inclusive of the latest developments on Fair Value Accounting, and now more streamlined for busy students, this text provides the highest return on your financial accounting course investment. With great clarity, this widely respected financial accounting text paces students appropriately as they learn both the skills and applications of basic accounting in earlier chapters as well as the impart the concepts and analysis skills they will use as future business leaders.

Roman L. Weil, University of Chicago

Roman L. Weil, Ph.D., CPA, is the V. Duane Rath Professor Emeritus of Accounting at the University of Chicago and has within recent years been Visiting Professor at the Haas School of the University of California, Berkeley; Carnegie Mellon University; Harvard Law School; Princeton University; and New York University. He has designed and implemented continuing education programs for partners at two of the large accounting firms and for employees at several operating corporations. Dr. Weil has co-authored dozens of books. His lay articles have appeared in Barron's and The Wall Street Journal. He has published more than 80 articles in academic and professional journals, most recently on financial literacy for corporate governance and on the exposure of wine snobbery.

Katherine Schipper, Duke University

Katherine Schipper is the Thomas F. Keller Professor of Accounting at the Duke University, Fuqua School of Business. She is a former Board member of the Financial Accounting Standards Board (FASB), a past president of the American Accounting Association and a winner of its Outstanding Educator award, and a member of the Accounting Hall of Fame.

Jennifer Francis, Duke University

Jennifer Francis is the Douglas and Josie Breeden Doctoral Professor of Accounting and Senior Associate Dean for Faculty at the Duke University Fuqua School of Business. Her research and teaching expertise in financial reporting, equity valuation, and security analysts' role in the capital markets has led to over a dozen teaching awards.
  • Updated Throughout for U.S. GAAP and International Financial Reporting Standards (IFRS): The authors, leaders in the development and interpretation of financial accounting regulations, have updated the text for the most recent U.S.GAAP and IFRS standards.
  • New Chapter Sequencing and Organization: In the 13th edition the authors introduced a new Chapter 2 containing bookkeeping materials for both the income statement and the balance sheet. The 14th edition splits the Chapter 2 bookkeeping material into two chapters, one for the balance sheet (chapter 2) and one for the income statement (chapter 3), thus developing the fundamental vocabulary and skills of statement preparation at a more moderate pace. This allows the following two chapters to cover balance sheet concepts (chapter 4) and income statement concepts (chapter 5) as students move into the middle of the course.
  • New, More Streamlined Approach. The authors have revised the chapters to focus on the key topics and concepts, minimize the need for advanced material more suitable for subsequent accounting courses, and streamlined the narrative and topical flow for busy MBA students. This approach clears the way for MBA students to concentrate on what accounting reveals about a company and how accounting drives financial decision making.
  • Financial Analysis Problems Data: To simplify the presentation, problems emphasize analysis and the interpretation of both actual-company and hypothetical-company financial reports.
  • Illustrative Examples: Chapters open with a list of important concepts, followed by numerous examples illustrating their application. End-of-chapter material tests students' ability to apply chapter concepts to new problems and cases.
  • Self-Study Problems: Up to five "Problems for Self-Study" are integrated into each chapter, giving students exposure to interesting and complex topics where they are covered in the text. Extensive solutions to self-study problems are available at the end of each chapter.
  • T-accounts Included. T-accounts are included as a pedagogical method of notating transactions in the text. Used primarily in Chapters 2-6, this format also appears in selected places in later chapters.
  • Format for Transaction Notation. For the 14th edition, transactions are notated using both journal entries alone and journal entries accompanied by a following table showing impact on the accounting equation. To simplify the presentation in later chapters, the authors have modified the transaction format for 14/e by using the accounting-equation effects in the earlier chapters then graduating to showing only the journal entries in later chapters.
  • Comprehensive Coverage of Cash Flows and a Synthesis of Financial Accounting Principles. Chapter 16, "Statement of Cash Flows: Another Look," and Chapter 17, "Synthesis of Financial Reporting," are included.
  • FASB Codification References. The text integrates the FASB Accounting Standards Codification system into all references and footnotes, along with the traditional reference system. The Codification is the single source for all accounting literature.
  • CengageNOW online homework. Ensure that your students have the understanding they need of accounting procedures and concepts with CengageNOW. This integrated, online course management and learning system combines the best of current technology to save to time in planning and managing your course and assignments. You can reinforce comprehension with customized student learning paths and efficiently test and automatically grade assignments with reports that correspond to common business program standards.
  • Integration of U.S. GAAP and International Financial Reporting Standards (IFRS) throughout: The text compares and contrasts financial accounting and reporting under U.S. GAAP and under International Financial Reporting Standards (IFRS), and discusses and references topics to both sets of standards. See the scope of the U.S. GAAP/IFRS details in this book by examining the chart in the front endpapers, inside the front cover. That chart shows the chapters and topics where the discussion includes IFRS and U.S. GAAP.
  • Emphasis on fair values and components of other comprehensive income: As U.S. GAAP and IFRS incorporate more required or permitted fair value measurements, the 14th edition has broad coverage of the fair value option in U.S. GAAP as it affects accounting for some debt securities and some investments as well as comprehensive income.
  • Integration of Real and Hypothetical Financial Statements: For more effective learning, the text reprints actual financial statements and disclosures as well uses hypothetical company examples that are best suited to show specific concepts.
  • Year Dating: To increase the learning value for each company financial-statement example, both "Year 1, Year 2" and calendar-year styles of year references have been included.
  • Enhanced Financial Analysis: This edition emphasizes the integration of U.S. GAAP and IFRS standards in the analysis of financial statement data by users.
Part 1: Overview of Financial Statements.
1. Introduction to Business Activities and Overview of Financial Statements and the Reporting Process.
Part 2. Accounting Concepts and Methods.
2. The Basics of Record Keeping and Financial Statement Preparation: Balance Sheet.
3. The Basics of Record Keeping and Financial Statement Preparation: Income Statement.
4. Balance Sheet: Presenting and Analyzing Resources and Financing.
5. Income Statement: Reporting the Results of Operating Activities.
6. Statement of Cash Flows: Reporting the Effects of Operating, Investing, and Financing Activities on Cash Flows.
7. Introduction to Financial Statement Analysis.
Part 3. Measuring and Reporting Assets and Equities Using Generally Accepted Accounting Principles.
8. Revenue Recognition, Receivables, and Advances from Customers.
9. Working Capital.
10. Long-Lived Tangible and Intangible Assets.
11. Notes, Bonds, and Leases.
12. Liabilities: Off-Balance-Sheet Financing, Retirement Benefits, and Income Taxes.
13. Marketable Securities and Derivatives.
14. Intercorporate Investments in Common Stock.
15. Shareholders' Equity: Capital Contributions and Distributions.
Part 4. Synthesis.
16. Statement of Cash Flows: Another Look.
17. Synthesis of Financial Reporting.
Appendix: Time Value of Cash Flows: Compound Interest Concepts and Applications.
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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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.


Solutions Manual

ISBN: 9781133372493
Solutions manual, written by the text authors, provides full solutions for all end-of-chapter assignment items, including questions, exercises, problems, and cases. Available in Print and on the Instructor's Resource CD.

Instructor's Resource CD-ROM

ISBN: 9781133629405
This CD includes the Solutions Manual, Instructor's Manual, Test Bank (in both Word and ExamView® format), Student Templates and instructor solutions, and customizable PowerPoint® Presentations.

Student Solutions Manual

ISBN: 9781133591023
Solutions manual for sale to students provides full solutions for odd-numbered end-of-chapter assignment items, including questions, exercises, problems, and cases.


Instructor's Resource CD-ROM

ISBN: 9781133629405

Student Solutions Manual

ISBN: 9781133591023
Solutions manual for sale to students provides full solutions for odd-numbered end-of-chapter assignment items, including questions, exercises, problems, and cases.

Web Site

ISBN: 9781133726258