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Using Financial Accounting

By Carl Warren, Jeff Jones, Amanda Farmer

1st Edition © 2022
Discipline:Accounting
Course:Financial Accounting
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Ideal for a one-term introductory course, Warren/Jones/Farmer’s USING FINANCIAL ACCOUNTING emphasizes how managers, investors and other business stakeholders use accounting reports. Written for those with no prior knowledge of accounting, this edition provides an overview of basic financial accounting concepts, without extraneous topics that must often be omitted when teaching the one-term course. This edition takes a spreadsheet approach that focuses on the use of accounting information in business without the distraction of debits and credits. An integrated financial statement framework highlights how transactions impact each of the three primary financial statements. Unique metrics analyses highlight transaction, financial statement and managerial decision-making information. In addition, feature boxes and cases demonstrate the use of data analysis in specific financial accounting tasks. CNOWv2 digital resources support your course with customizable tools to meet student needs.

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Higher Education

CNOWv2 for Warren/Jones/Farmer's Using Financial Accounting, 1 term Instant Access

With its engaging learning and assessment tools, CNOWv2 supports the entire student workflow from motivation to mastery. For instructors, CNOWv2 provides control and customization with the opportunit…

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About this product

Ideal for a one-term introductory course, Warren/Jones/Farmer’s USING FINANCIAL ACCOUNTING emphasizes how managers, investors and other business stakeholders use accounting reports. Written for those with no prior knowledge of accounting, this edition provides an overview of basic financial accounting concepts, without extraneous topics that must often be omitted when teaching the one-term course. This edition takes a spreadsheet approach that focuses on the use of accounting information in business without the distraction of debits and credits. An integrated financial statement framework highlights how transactions impact each of the three primary financial statements. Unique metrics analyses highlight transaction, financial statement and managerial decision-making information. In addition, feature boxes and cases demonstrate the use of data analysis in specific financial accounting tasks. CNOWv2 digital resources support your course with customizable tools to meet student needs.

INTEGRATED FINANCIAL STATEMENT FRAMEWORK STRESSES THE INTERDEPENDENT NATURE OF ACCOUNTING. The book's unique integrated financial statement framework clearly demonstrates for students how transactions impact each of the three primary financial statements. This framework replaces the traditional use of journal entries, debits and credits and ledger accounts in other texts.

THE AUTHORS' SPECIAL METRIC ANALYSES APPEAR THROUGHOUT THIS EDITION. These unique metric analyses use common business metrics to assess a company’s financial condition and performance. The metrics highlight information assessed from three perspectives: a transaction perspective, financial statement perspective and managerial decision-making perspective. To further support these metric analyses, end-of-chapter problems test students’ knowledge and understanding of the concepts.

THE BOOK'S METRIC ANALYSES ARE VISUALLY DISTINGUISHED BY A DISTINCT COLOR. This allows you, the instructor, to quickly locate the analyses within the chapters as well as identify the corresponding end-of-chapter section for assigning homework.

"USING DATA ANALYTICS" FEATURE BOXES DEMONSTRATE HOW DATA ANALYTICS RELATE TO SPECIFIC FINANCIAL ACCOUNTING TOPICS. These feature boxes that appear within each chapter describe an application of data analytics that directly corresponds to the chapter’s content.

Table of contents

Chapters

Cover Page
Title Page
Copyright Page
Preface
Acknowledgments
About the Authors
Chapter 1. The Role of Accounting in Business*Preview this chapter
Chapter 2. Basic Accounting Systems: Cash Basis
Chapter 3. Basic Accounting Systems: Accrual Basis
Chapter 4. Accounting for Retail Businesses
Chapter 5. Internal Control and Cash
Chapter 6. Receivables
Chapter 7. Inventories
Chapter 8. Long-Term Operating Assets
Chapter 9. Liabilities
Chapter 10. Stockholders’ Equity
Chapter 11. Statement of Cash Flows
Chapter 12. Metric-Based Analysis of Financial Statements
Appendix A. Selected Topics
Appendix B. Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2020 Selected Excerpts
Appendix C. Double-Entry Accounting Systems
The Basics
Show more

Chapter 1. The Role of Accounting in BusinessPreview this chapter ↗

Nature of Business and Accounting
Preview this section ↗
Types of Businesses ↗
Forms of Business ↗
How Do Businesses Make Money? ↗
Business Stakeholders ↗
Business Activities
Preview this section ↗
Financing Activities ↗
Investing Activities ↗
Operating Activities ↗
What Is Accounting and Its Role in Business? ↗
Financial Statements
Preview this section ↗
Income Statement ↗
Statement of Stockholders’ Equity ↗
Balance Sheet ↗
Statement of Cash Flows ↗
Integrated Financial Statements ↗
Accounting Concepts
Preview this section ↗
Business Entity Concept ↗
Cost Concept ↗
Going Concern Concept ↗
Matching Concept ↗
Objectivity Concept ↗
Unit of Measure Concept ↗
Adequate Disclosure Concept ↗
Accounting Period Concept ↗
Responsible and Ethical Reporting ↗
Metric-Based Analysis: Return on Assets
Preview this section ↗
Types of Metrics ↗
Level of Application ↗
Return on Assets ↗
Key Points ↗
Key Terms ↗
Illustrative Problem ↗
Self-Examination Questions ↗
Class Discussion Questions ↗
Exercises ↗
Problems ↗
Metric-Based Analysis ↗
Cases ↗
Show more

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