Horngren’s Accounting, The Financial Chapters

Description

About the book

 

Integrate pedagogy with concepts and practical applications

• Effect on the Accounting Equation illustrations help students see connections between transactions, as well as how these transactions fit into the bigger picture. Located next to every journal entry, they reinforce the connections between recording a transaction and the effect those transactions have on the accounting equation.
• Instructor Tips & Tricks mimic the experience of having a seasoned teacher walk a student through concepts on the board. Many include mnemonic devices or examples to help students remember the rules of accounting.
• Rooted in the authors’ teaching experiences over the years, Common Questions, Answered offers additional help with patterns and rules that consistently confuse students. Located in the text’s margin next to where the answer or clarification can be found, they help students better understand difficult concepts.
• Try It! Exercises, found after each learning objective, give students the opportunity to apply the concept they’ve just learned by completing an accounting problem. Links to these exercises appear throughout the eText, allowing students to practice in MyLab™ Accounting without interruption.
• Things You Should Know feature provides a brief review of each learning objective presented in a question and answer format, which is helpful when students are preparing for exams. Students can also link to multimedia materials from within the Enhanced eText.
• Chapter Openers present relatable stories that set up the concepts to be covered in the chapter. The implications of those concepts on a company’s reporting and decision-making processes are then discussed.
• Decisions boxes highlight common questions that business owners face, prompting students to determine the course of action they would take based on concepts covered in the chapter.
• IFRS icons provide guidance on how International Financial Reporting Standards (IFRS) differ from US GAAP throughout the financial chapters.
• REVISED! End-of-chapter short exercises, exercises, problems, and critical-thinking cases test students’ understanding of the material.
• NEW! Using Excel. This end-of-chapter problem introduces students to Excel to solve common accounting problems as they would in the business environment.
• NEW! Tying It All Together feature ties together key concepts from the chapter using the company highlighted in the chapter opener. The in-chapter box presents scenarios and questions that the company could face and focuses on the decision-making process. The end-of-chapter business case helps students synthesize the concepts of the chapter and reinforces critical thinking.

 

End-of-chapter continuing and comprehensive problems

• NEW! A Continuing Problem starts in Chapter 1 and runs through the financial chapters, exposing students to recording entries for a service company and a merchandiser.
• A Practice Set starts in Chapter 2 and goes through the financial chapters, providing another opportunity for students to practice the entire accounting cycle. The practice set uses the same company in each chapter, but is often not as extensive as the continuing problem.
• Comprehensive Problem 1 for Chapters 1–4 covers the entire accounting cycle for a service company.
• Comprehensive Problem 2 for Chapters 1–4 is a continuation of Comprehensive Problem 1 and requires students to record transactions for the month after the closing process.
• NEW! Comprehensive Problem for Chapters 5 and 6 covers the entire accounting cycle for a merchandising company, including analysis.
• A Comprehensive Problem for Chapter 7 uses special journals and subsidiary ledgers, and covers the entire accounting cycle for a merchandising company. Students can complete this problem using the MyLab General Ledger or Quickbooks^® software.
• NEW! Comprehensive Problem for Chapters 8–10 covers cash, receivables, and long-term asset transactions and analysis.
• NEW! Comprehensive Problem for Chapters 11, 13, and 14 covers payroll, other current liabilities, long-term liabilities, and stockholders’ equity transactions and analysis.

 

Chapter-by-chapter changes

• Chapter 1: NEW! Discussion on why accounting is important to non-accounting majors.
• Chapter 3: UPDATED! Discussion of the revenue recognition principle for the newly released standard, new discussion on how to calculate interest for notes receivable and payable, and interest calculations that use a 365-day (vs. 360-yr) year to better reflect how actual lenders calculate interest.
• Chapter 4: NEW! Increased usage of the classified balance sheet as a requirement for end-of-chapter problems, and balance sheet presentation that reflects Property, Plant, and Equipment (vs. Plant Assets).

• Chapter 5: REVISED! Discussion on sales of merchandise to reflect the newly released revenue recognition standard, income statement presentation that reflects Other Income and (Expenses) to better reflect how actual income statements are presented, and new Appendix 5A that discusses multiple performance obligations.
• Chapter 8: NEW! Coverage of credit card sales.
• Chapter 9: EXPANDED! Coverage of estimating bad debts to help students understand why the Allowance for Bad Debts account may have either a debit/credit unadjusted balance due to previously overestimated/underestimated adjustments.
• Chapter 11: UPDATED! Payroll section for consistency with current payroll laws, and a new section that illustrates how companies record the payment of payroll liabilities.
• Chapter 13: NEW! Corporate income statement, including calculating earnings per share.
• Chapter 14: NEW! Discussion on future value, including determining the future value of a lump sum and of an annuity. Also, a new comprehensive problem for Chapters 10, 11, and 13 which includes payroll, other current liabilities, long-term liabilities, and stockholders’ equity transactions and analysis.
• Chapter 15: REVISED! Discussion on debt and equity securities to reflect the newly released financial instrument standard including the elimination of trading investments (equity) and available-for-sale investments (equity).
• Chapter 17: NEW! Rearrangement of the liquidity ratios from most stringent to least stringent (cash ratio, acid-test ratio, current ratio), and a new trend analysis and ratios problem that students complete to analyze a company for its investment potential.

 

Also available with MyLab Accounting

MyLab™ Accounting is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

• The Enhanced eText keeps students engaged in learning on their own time, while helping them achieve greater conceptual understanding of course material. The worked examples, animations, and interactive tutorials bring learning to life, and algorithmic practice allows students to apply the very concepts they are reading about. Combining resources that illuminate content with accessible self-assessment, MyLab Accounting with Enhanced eText provides students with a complete digital learning experience–all in one place.
• And with the Pearson eText 2.0 mobile app (available for select titles) students can now access the Enhanced eText and all of its functionality from their computer, tablet, or mobile phone. Because students’ progress is synced across all of their devices, they can stop what they’re doing on one device and pick up again later on another one–without breaking their stride.
• Try It Boxes. Found after each learning objective, Try Its! give students the opportunity to apply concepts they’ve just learned by completing an accounting problem. Links to these exercises appear throughout the eText, allowing students to practice in MyLab without interruption.
• Try It! Solution Videos. Author-recorded and accompanying Try It! Exercises, these videos walk students through the problem and solution.

• Accounting Cycle Tutorial. The MyLab Accounting interactive tutorial helps students master the Accounting Cycle for early and continued success in their course. Accessible by computer, smartphone, or tablet, the tutorial uses engaging videos and animations to illustrate each concept of the Accounting Cycle. Students are immediately assessed on their understanding and their performance is scored in the MyLab Accounting Gradebook. Whether used as a self-study tool or a course assignment, students have yet another resource within MyLab Accounting to help them nail the accounting cycle.
• NEW! ACT Comprehensive Problem. The Accounting Cycle Tutorial now includes a comprehensive problem that allows students to work with the same set of transactions throughout the accounting cycle. The comprehensive problem, which can be assigned at the beginning or end of the full cycle, reinforces the lessons learned in the accounting cycle tutorial activities by emphasizing the connections between the accounting cycle concepts.
• Learning Catalytics^™ helps you generate class discussion, customize your lecture, and promote peer-to-peer learning with real-time analytics. As a student response tool, Learning Catalytics uses students’ smartphones, tablets, or laptops to engage them in more interactive tasks and thinking.
• NEW! Upload a full PowerPoint^® deck for easy creation of slide questions.
• NEW! Team names are no longer case sensitive.
• Help your students develop critical thinking skills.
• Monitor responses to find out where your students are struggling.
• Rely on real-time data to adjust your teaching strategy.
• Automatically group students for discussion, teamwork, and peer-to-peer learning.

• Animated Lecture Videos. This pre-class learning aid, available for every learning objective, is a professor-narrated PowerPoint summary to help prepare students.
• Personalized Learning. Not every student learns the same way or at the same rate. With the growing need for acceleration through many courses, it’s more important than ever to meet students where they learn. Personalized learning in MyLab Accounting gives you the flexibility to incorporate the approach that best suits of your course and your students.

• The Study Plan acts as a tutor, providing personalized recommendations for each of your students based on his or her ability to master the learning objectives in your course. This allows students to focus their study time by pinpointing the precise areas they need to review, and allowing them to use customized practice and learning aids–such as videos, eText, tutorials, and more–to get them back on track. Using the report available in the Gradebook, you can then tailor course lectures to prioritize the content where students need the most support–offering you better insight into classroom and individual performance.
• Dynamic Study Modules help students study effectively on their own by continuously assessing their activity and performance in real time. Here’s how it works: students complete a set of questions with a unique answer format that also asks them to indicate their confidence level. Questions repeat until the student can answer them all correctly and confidently. Once completed, Dynamic Study Modules explain the concept using materials from the text. These are available as graded assignments prior to class, and accessible on smartphones, tablets, and computers. NEW! Instructors can now remove questions from Dynamic Study Modules to better fit their course. Available for select titles.

• A variety of Question Types enhance flexibility:
• Open Response questions require students to type in their answers instead of choosing their answer from a drop-down menu. This helps students think critically while further preparing them for the format of their exam.
• Excel^® Questions. Educators can now assign end-of-chapter problems through a simulated Microsoft Excel environment that reports directly into the MyLab Accounting Gradebook. With the Excel Sims, students learn and practice solving accounting problems just like they will in their future careers, without adding the extra work of hand-grading to instructors.
• General Ledger Questions. Students can launch the General Ledger software in MyLab Accounting, work on their accounts, post to the ledger, and save their work. This work is then auto-graded with their grades then flowing automatically to the MyLab Accounting Gradebook.
• An Algorithmic Testbank lets instructors create tests with unique values for each student.
• Robust Gradebook tracking. The online Gradebook automatically tracks your students’ results on tests, homework, and practice exercises, and gives you control over managing results and calculating grades. The Gradebook provides a number of flexible grading options, including exporting grades to a spreadsheet program such as Microsoft Excel. And, it lets you measure and document your students’ learning outcomes.
• Easily scalable and shareable content. MyLab Accounting enables you to manage multiple class sections, and lets other instructors copy your settings so a standardized syllabus can be maintained across your department. Should you want to use the same MyLab Accounting course next semester, with the same customized settings, you can copy your existing course exactly–and even share it with other faculty members.
• Real-World Accounting Video Series feature real, emerging companies that demonstrate financial and managerial accounting concepts. Students see how course topics are applied in recent start-ups or companies that began small and are now a household name. These engaging videos help students further understand the course material and also demonstrate how accounting will apply to their future careers.
• Learning Management System (LMS) Integration. You can now link from Blackboard Learn, Brightspace by D2L, Canvas, or Moodle to MyLab Accounting. Access assignments, rosters, and resources, and synchronize grades with your LMS Gradebook. For students, single sign-on provides access to all the personalized learning resources that make studying more efficient and effective.
• Reporting Dashboard. View, analyze, and report learning outcomes clearly and easily, and get the information you need to keep your students on track throughout the course, with the new Reporting Dashboard. Available via the MyLab Accounting Gradebook and fully mobile-ready, the Reporting Dashboard presents student performance data at the class, section, and program levels in an accessible, visual manner.
• UPDATED! Discussion Boards have a new design including a new nested layout and the ability to filter by Read/Unread, Date, and Name.

 

Tracie L. Miller-Nobles, CPA, received her bachelor’s and master’s degrees in accounting from Texas A&M University and is currently pursuing her PhD in adult learning also at Texas A&M University. She is an Associate Professor at Austin Community College, Austin, TX. Previously she served as a Senior Lecturer at Texas State University, San Marcos, TX, and has served as department chair of the Accounting, Business, Computer Information Systems, and Marketing/Management department at Aims Community College, Greeley, CO. In addition, Miller-Nobles has taught as an adjunct professor at University of Texas and has public accounting experience with Deloitte Tax LLP and Sample & Bailey, CPAs.

 

Miller-Nobles is a recipient of the Texas Society of CPAs Rising Star Award, TSCPAs Outstanding Accounting Educator Award, NISOD Teaching Excellence Award and the Aims Community College Excellence in Teaching Award. She is a member of the Teachers of Accounting at Two Year Colleges, the American Accounting Association, the American Institute of Certified Public Accountants, and the Texas State Society of Certified Public Accountants. She is currently serving on the Board of Directors as secretary/webmaster of Teachers of Accounting at Two Year Colleges, as a member of the American Institute of Certified Public Accountants nominations committee, and as chair of the Texas Society of CPAs Relations with Education Institutions committee. In addition, Miller-Nobles served on the Commission on Accounting Higher Education: Pathways to a Profession.

 

She has spoken on such topics as using technology in the classroom, motivating non-business majors to learn accounting, and incorporating active learning in the classroom at numerous conferences. In her spare time she enjoys spending time with her friends and family and camping, kayaking, and quilting.

 

Brenda L. Mattison has a bachelor’s degree in education and a master’s degree in accounting, both from Clemson University. She is currently an Accounting Instructor at Tri-County Technical College in Pendleton, South Carolina. Mattison previously served as Accounting Program Coordinator at TCTC and has prior experience teaching accounting at Robeson Community College, Lumberton, North Carolina; University of South Carolina Upstate, Spartanburg, South Carolina; and Rasmussen Business College, Eagan, Minnesota. She also has accounting work experience in retail and manufacturing businesses.

 

Mattison is a member of Teachers of Accounting at Two Year Colleges and the American Accounting Association. She is currently serving on the board of directors as Vice President of Conference Administration of Teachers of Accounting at Two Year Colleges.

 

Mattison previously served as Faculty Fellow at Tri-County Technical College. She has presented at several conferences on topics including active learning, course development, and student engagement.

 

In her spare time, Mattison enjoys reading and spending time with her family. She is also an active volunteer in the community, serving her church and other organizations.

 

Ella Mae Matsumura, PhD is a professor in the Department of Accounting and Information Systems in the School of Business at the University of Wisconsin–Madison, and is affiliated with the university’s Center for Quick Response Manufacturing. She received an AB in mathematics from the University of California, Berkeley, and MSc and PhD degrees from the University of British Columbia. Ella Mae has won two teaching excellence awards at the University of Wisconsin–Madison and was elected as a lifetime fellow of the university’s Teaching Academy, formed to promote effective teaching. She is a member of the university team awarded an IBM Total Quality Management Partnership grant to develop curriculum for total quality management education.

 

Matsumura was a co-winner of the 2010 Notable Contributions to Management Accounting Literature Award. She has served in numerous leadership positions in the American Accounting Association (AAA). She was coeditor of Accounting Horizons and has chaired and served on numerous AAA committees. She has been secretary-treasurer and president of the AAA’s Management Accounting Section. Her past and current research articles focus on decision making, performance evaluation, compensation, supply chain relationships, and sustainability. She coauthored a monograph on customer profitability analysis in credit unions.

 

For courses in Financial and Managerial Accounting.

 

Expanding on proven success with Horngren’s accounting

Horngren’s Accounting, The Financial Chapters present the core content of principles of accounting in a fresh format designed to help today’s learners succeed. As teachers first, the author team knows the importance of delivering a reader experience free of obstacles. Their pedagogy and content uses leading methods in teaching critical foundational topics and concentrates on improving reader results–all tested in class by the authors themselves. With this in mind, the 12th Edition continues to focus on readability and comprehension and takes this a step further in the managerial chapters by employing a new theme to help readers see how managerial accounting is used as a tool to help all business people make decisions. By providing more meaningful learning tools, this title helps readers clear hurdles, like never before.

 

Also available with MyLab Accounting

MyLab™ Accounting is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

Note: You are purchasing a standalone product; MyLab does not come packaged with this content. Students, if interested in purchasing this title with MyLab, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.

If you would like to purchase both the physical text and MyLab, search for:

 

0134674723 / 9780134674728 Horngren’s Accounting, The Financial Chapters Plus MyAccountingLab with Pearson eText — Access Card Package, 12/e

 

Package consists of:

• 0134486781 / 9780134486789 Horngren’s Accounting, The Financial Chapters
• 0134490398 / 9780134490397 MyAccountingLab with Pearson eText — Access Card — for Horngren’s Accounting, The Financial Chapters

 

 

For courses in Financial and Managerial Accounting.

 

Expanding on proven success with Horngren’s accounting

Horngren’s Accounting, the Financial Chapters present the core content of principles of accounting courses in a fresh format designed to help today’s learners succeed. As teachers first, the author team knows the importance of delivering a student experience free of obstacles. Their pedagogy and content uses leading methods in teaching students critical foundational topics and concentrates on improving student results–all tested in class by the authors themselves. With this in mind, the 12th Edition continues to focus on readability and student comprehension, and takes this a step further in the managerial chapters by employing a new theme to help students see how managerial accounting is used as a tool to help all business people make decisions. By providing more meaningful learning tools, this title gives professors the resources needed to help students clear hurdles inside and outside of the classroom, like never before.

 

Also available with MyLab Accounting

MyLab™ Accounting is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

Students, if interested in purchasing this title with MyLab Accounting, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.

 

 

1. Accounting and the Business Environment

2. Recording Business Transactions

3. The Adjusting Process

4. Completing the Accounting Cycle

5. Merchandising Operations

6. Merchandise Inventory

7. Accounting Information Systems

8. Internal Control and Cash

9. Receivables

10. Plant Assets, Natural Resources, and Intangibles

11. Current Liabilities and Payroll

12. Partnerships

13. Corporations

14. Long-Term Liabilities

15. Investments

16. The Statement of Cash Flows

17. Financial Statement Analysis

Appendix A: Present Value Tables and Future Value Tables

 

 

About the book

 

Integrate pedagogy with concepts and practical applications

• End-of-chapter short exercises, exercises, problems, and critical-thinking cases test students’ understanding of the material.
• Using Excel. This end-of-chapter problem introduces students to Excel to solve common accounting problems as they would in the business environment.
• Tying It All Together feature ties together key concepts from the chapter using the company highlighted in the chapter opener. The in-chapter box presents scenarios and questions that the company could face and focuses on the decision-making process. The end-of-chapter business case helps students synthesize the concepts of the chapter and reinforces critical thinking.

 

End-of-chapter continuing and comprehensive problems

• A Continuing Problem starts in Chapter 1 and runs through the financial chapters, exposing students to recording entries for a service company and a merchandiser.
• Comprehensive Problem for Chapters 5 and 6 covers the entire accounting cycle for a merchandising company, including analysis.
• Comprehensive Problem for Chapters 8—10 covers cash, receivables, and long-term asset transactions and analysis.
• Comprehensive Problem for Chapters 11, 13, and 14 covers payroll, other current liabilities, long-term liabilities, and stockholders’ equity transactions and analysis.

 

Chapter-by-chapter changes

• Chapter 1: Discussion on why accounting is important to non-accounting majors.
• Chapter 3: Discussion of the revenue recognition principle for the newly released standard, new discussion on how to calculate interest for notes receivable and payable, and interest calculations that use a 365-day (vs. 360-yr) year to better reflect how actual lenders calculate interest.
• Chapter 4: Increased usage of the classified balance sheet as a requirement for end-of-chapter problems, and balance sheet presentation that reflects Property, Plant, and Equipment (vs. Plant Assets).

• Chapter 5: Discussion on sales of merchandise to reflect the newly released revenue recognition standard, income statement presentation that reflects Other Income and (Expenses) to better reflect how actual income statements are presented, and new Appendix 5A that discusses multiple performance obligations.
• Chapter 8: Coverage of credit card sales.
• Chapter 9: Coverage of estimating bad debts to help students understand why the Allowance for Bad Debts account may have either a debit/credit unadjusted balance due to previously overestimated/underestimated adjustments.
• Chapter 11: Payroll section for consistency with current payroll laws, and a new section that illustrates how companies record the payment of payroll liabilities.
• Chapter 13: Corporate income statement, including calculating earnings per share.
• Chapter 14: Discussion on future value, including determining the future value of a lump sum and of an annuity. Also, a new comprehensive problem for Chapters 10, 11, and 13 which includes payroll, other current liabilities, long-term liabilities, and stockholders’ equity transactions and analysis.
• Chapter 15: Discussion on debt and equity securities to reflect the newly released financial instrument standard including the elimination of trading investments (equity) and available-for-sale investments (equity).
• Chapter 17: Rearrangement of the liquidity ratios from most stringent to least stringent (cash ratio, acid-test ratio, current ratio), and a new trend analysis and ratios problem that students complete to analyze a company for its investment potential.

 

Also available with MyLab Accounting

MyLab™ Accounting is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

• ACT Comprehensive Problem. The Accounting Cycle Tutorial now includes a comprehensive problem that allows students to work with the same set of transactions throughout the accounting cycle. The comprehensive problem, which can be assigned at the beginning or end of the full cycle, reinforces the lessons learned in the accounting cycle tutorial activities by emphasizing the connections between the accounting cycle concepts.
• Discussion Boards have a new design including a new nested layout and the ability to filter by Read/Unread, Date, and Name.