Financial Accounting

Building on the flexible and balanced approach that has made this text a market leader, the new edition of Financial Accounting provides a strong real-world emphasis, integrates performance measurement, and emphasizes technology. New features motivate critical thinking, analysis, and decision-making.

Financial Accounting remains the most accurate text on the market, with accuracy reviewers checking every line and working through every exercise, problem, and case in the text and supplements.

• New! "Stop and Think" questions for each learning objective motivate students to read actively. These critical-thinking questions—each of which is accompanied by a short answer—can also be used as a review device or as the basis for class discussions.
• New! The Supplement at the end of Chapter 1 now includes Walgreens company financial statements immediately following the most recent Toys 'R' Us Annual Report.
• New! Chapter-ending "Comparison Cases" require students to use the Walgreens and Toys 'R' Us financial statements to review information as a professional analyst would. Students must calculate various ratios and do a comparative analysis of the two companies based on their results.
• New! The popular "Focus on Business" boxes, which relate accounting to the real world of business, have been updated and redesigned, and more than 35 of the features are new to this edition.
• New! Each learning objective includes a list of end-of-chapter "Related Text Assignments" so students can identify the questions, exercises, problems, and cases that are associated with particular learning objectives.
• New! The new edition features three new video cases, bringing the total number of video cases to six. The videos are available on both the Student CD-ROM and the HM ClassPrep CD-ROM for instructors.
• New! The instructors' web site now features a collection of 16 new essays—one for each chapter—that discuss current events and issues. Essay topics include the Enron crisis, the nature and importance of goodwill, and the controversy surrounding accounting for stock options. These essays can be used as exam questions or extra credit assignments. Each essay comes with two sets of questions—one set that students can answer by reading the essay, and a second set that requires students to do additional research. Suggested answers are provided for both sets of questions.
• New! Bridge Tutorial CD-ROM for students emphasizes accounting transactions, provides a review of the debit/credit mechanism, and provides a foundation for the preparation of financial statements. The CD-ROM features 50 pre- and post-test activities on accounting concepts, designed to test students' basic understanding of the accounting cycle. Key concept tutorials provide reinforcement and practice for students. Interactive "Review and Reinforce" questions with rejoinders provide feedback on right and wrong answers. The tutorial also includes demonstration problems with voice-over narrations and a built-in glossary with on-screen pop-up definitions.
• New! Premium Blackboard and WebCT CD-ROMs include course material and information, course documents, chapter overviews, learning objectives, chapter and lecture outline, key points, key terms with definitions, PowerPoint files, Excel and Word documents, chapter summaries, assignments, and Web links. The CD-ROMs also contain self-test questions from the student Study Guide, ACE self-quizzes, interactive exercises, web exercises, discussion questions, real-world examples, cross-disciplinary features, visuals, and more.

Belverd E. Needles, Jr., received B.B.A. and M.B.A. degrees from Texas Tech University and the Ph.D. degree from the University of Illinois at Urbana-Champaign. He teaches financial accounting, managerial accounting, and auditing at DePaul University, where he is an internationally recognized expert in international accounting and education. He has published in leading journals and is the author or editor of more than 20 books and monographs. His current research relates to international financial reporting, performance measurement, and corporate governance of high performance companies in the United States, Europe, India, and Australia. His textbooks are used throughout the world and have received many awards, including (in 2008) the McGuffey Award from the Text and Academic Authors Association. Active in many academic and professional organizations, he is currently Vice-President-Education of the American Accounting Association. He has received the Distinguished Alumni Award from Texas Tech University, the Illinois CPA Society Outstanding Educator Award and its Life-Time Achievement Award, the Joseph A. Silvoso Faculty Award of Merit from the Federation of Schools of Accountancy, the Ledger & Quill Award of Merit, and the Ledger & Quill Teaching Excellence Award. He was named Educator of the Year by the American Institute of CPAs, Accountant of the Year for Education by the national honorary society Beta Alpha Psi, and Outstanding International Accounting Educator by the American Accounting Association. He has received the Excellence in Teaching Award from DePaul University.

Marian Powers received the B.S. degree from Chicago State University and the Ph.D. degree from University of Illinois at Urbana-Champaign. In addition to the Kellogg Graduate School of Management at Northwestern University, she has taught financial accounting at the University of Illinois, Chicago, and at the Lake Forest Graduate School of Management. Internationally recognized as a dynamic teacher in executive education, she specializes in teaching non-financial managers how to read and understand internal and external financial reports, including the impact of international financial reporting standards (IFRS). Dr. Powers' current research relates to international financial reporting, performance measurement, and corporate governance of high performance companies in the United States, Europe, India, and Australia. Her research has been published in leading journals. Her textbooks, coauthored with Belverd E. Needles, Jr., are used throughout the world and have received many awards, including the Textbook Excellence Award and the McGuffey Award from the Text and Academic Authors Association. She has also coauthored three interactive multimedia software products. Dr. Powers currently serves on the Board of the CPA Endowment Fund of Illinois and the Board of Governors of the Winnetka Community House. She is a member of International Association of Accounting Education and Research, and Illinois CPA Society. She has served on the Board of Directors of the Illinois CPA Society, the Educational Foundation of Women in Accounting and both the national as well as Chicago chapter of ASWA. --This text refers to an out of print or unavailable edition of this title.