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Financial  Accounting

FINANCIAL ACCOUNTING - 9781337913102

Financial  Accounting
Edition
16
Pub Date
2020-01-23
Copyright Year
2021
ISBN10
1337913103
ISBN13
9781337913102
Publisher
South-Western College Pub
Page Count
0
Dimensions
9.25 in
11.19 in
1.44 in
Binding Format
Hardbound Book
Units Per Carton
8.00
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$159.96
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Gain a strong foundation in financial accounting that prepares you for future study and success in today's business world with Warren/Jonick/Schneider's leading FINANCIAL ACCOUNTING, 16E. This edition connects financial accounting concepts to the "bigger picture" as chapter-opening schemas clearly demonstrate how each chapter's content fits within the overall framework of the book. The digital CengageNOWv2's Journal Entry Tool reinforces this approach by automatically illustrating the impact of transactions on the accounting equation. This book's hallmark presentation of the accounting cycle provides an unmatched foundation for later chapters and even upcoming coursework and your career. The authors have carefully streamlined content and improved learning features throughout this edition and CengageNOWv2's digital resources to ensure you have the understanding of today's financial accounting and specific tools to succeed.
  • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
  • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
  • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
  • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
  • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
  • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
  • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
  • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
  • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
  • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
  • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
  • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
  • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
  • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
  • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
  • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
  • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
  • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
  • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting a negative ethical response.
  • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting 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.
  • 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 CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
  • CHAPTER-OPENING COMPANY EXAMPLES CONNECT CONTENT TO CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
  • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
  • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
  • 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 gradable in CengageNOWv2.
  • 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 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 Update.
  • Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2018.
  • Glossary.
  • Index.
Gain a strong foundation in financial accounting that prepares you for future study and success in today's business world with Warren/Jonick/Schneider's leading FINANCIAL ACCOUNTING, 16E. This edition connects financial accounting concepts to the "bigger picture" as chapter-opening schemas clearly demonstrate how each chapter's content fits within the overall framework of the book. The digital CengageNOWv2's Journal Entry Tool reinforces this approach by automatically illustrating the impact of transactions on the accounting equation. This book's hallmark presentation of the accounting cycle provides an unmatched foundation for later chapters and even upcoming coursework and your career. The authors have carefully streamlined content and improved learning features throughout this edition and CengageNOWv2's digital resources to ensure you have the understanding of today's financial accounting and specific tools to succeed.
  • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
  • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
  • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
  • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
  • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
  • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
  • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
  • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
  • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
  • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
  • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
  • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
  • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
  • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
  • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
  • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
  • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
  • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
  • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting a negative ethical response.
  • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting 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.
  • 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 CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
  • CHAPTER-OPENING COMPANY EXAMPLES CONNECT CONTENT TO CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
  • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
  • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
  • 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 gradable in CengageNOWv2.
  • 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 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 Update.
  • Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2018.
  • Glossary.
  • Index.
Gain a strong foundation in financial accounting that prepares you for future study and success in today's business world with Warren/Jonick/Schneider's leading FINANCIAL ACCOUNTING, 16E. This edition connects financial accounting concepts to the "bigger picture" as chapter-opening schemas clearly demonstrate how each chapter's content fits within the overall framework of the book. The digital CengageNOWv2's Journal Entry Tool reinforces this approach by automatically illustrating the impact of transactions on the accounting equation. This book's hallmark presentation of the accounting cycle provides an unmatched foundation for later chapters and even upcoming coursework and your career. The authors have carefully streamlined content and improved learning features throughout this edition and CengageNOWv2's digital resources to ensure you have the understanding of today's financial accounting and specific tools to succeed.
  • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
  • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
  • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
  • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
  • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
  • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
  • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
  • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
  • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
  • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
  • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
  • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
  • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
  • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
  • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
  • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
  • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
  • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
  • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting a negative ethical response.
  • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting 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.
  • 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 CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
  • CHAPTER-OPENING COMPANY EXAMPLES CONNECT CONTENT TO CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
  • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
  • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
  • 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 gradable in CengageNOWv2.
  • 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 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 Update.
  • Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2018.
  • Glossary.
  • Index.
Gain a strong foundation in financial accounting that prepares you for future study and success in today's business world with Warren/Jonick/Schneider's leading FINANCIAL ACCOUNTING, 16E. This edition connects financial accounting concepts to the "bigger picture" as chapter-opening schemas clearly demonstrate how each chapter's content fits within the overall framework of the book. The digital CengageNOWv2's Journal Entry Tool reinforces this approach by automatically illustrating the impact of transactions on the accounting equation. This book's hallmark presentation of the accounting cycle provides an unmatched foundation for later chapters and even upcoming coursework and your career. The authors have carefully streamlined content and improved learning features throughout this edition and CengageNOWv2's digital resources to ensure you have the understanding of today's financial accounting and specific tools to succeed.
  • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
  • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
  • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
  • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
  • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
  • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
  • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
  • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
  • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
  • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
  • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
  • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
  • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
  • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
  • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
  • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
  • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
  • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
  • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting a negative ethical response.
  • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting 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.
  • 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 CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
  • CHAPTER-OPENING COMPANY EXAMPLES CONNECT CONTENT TO CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
  • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
  • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
  • 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 gradable in CengageNOWv2.
  • 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 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 Update.
  • Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2018.
  • Glossary.
  • Index.
  • Product Description
  • Gain a strong foundation in financial accounting that prepares you for future study and success in today's business world with Warren/Jonick/Schneider's leading FINANCIAL ACCOUNTING, 16E. This edition connects financial accounting concepts to the "bigger picture" as chapter-opening schemas clearly demonstrate how each chapter's content fits within the overall framework of the book. The digital CengageNOWv2's Journal Entry Tool reinforces this approach by automatically illustrating the impact of transactions on the accounting equation. This book's hallmark presentation of the accounting cycle provides an unmatched foundation for later chapters and even upcoming coursework and your career. The authors have carefully streamlined content and improved learning features throughout this edition and CengageNOWv2's digital resources to ensure you have the understanding of today's financial accounting and specific tools to succeed.
    • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
    • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
    • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
    • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
    • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
    • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
    • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
    • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
    • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
    • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
    • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
    • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
    • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
    • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
    • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
    • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
    • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
    • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
    • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
    • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
    • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting a negative ethical response.
    • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting 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.
    • 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 CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
    • CHAPTER-OPENING COMPANY EXAMPLES CONNECT CONTENT TO CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
    • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
    • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
    • 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 gradable in CengageNOWv2.
    • 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 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 Update.
    • Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2018.
    • Glossary.
    • Index.
  • Features
  • Gain a strong foundation in financial accounting that prepares you for future study and success in today's business world with Warren/Jonick/Schneider's leading FINANCIAL ACCOUNTING, 16E. This edition connects financial accounting concepts to the "bigger picture" as chapter-opening schemas clearly demonstrate how each chapter's content fits within the overall framework of the book. The digital CengageNOWv2's Journal Entry Tool reinforces this approach by automatically illustrating the impact of transactions on the accounting equation. This book's hallmark presentation of the accounting cycle provides an unmatched foundation for later chapters and even upcoming coursework and your career. The authors have carefully streamlined content and improved learning features throughout this edition and CengageNOWv2's digital resources to ensure you have the understanding of today's financial accounting and specific tools to succeed.
    • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
    • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
    • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
    • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
    • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
    • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
    • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
    • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
    • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
    • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
    • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
    • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
    • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
    • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
    • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
    • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
    • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
    • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
    • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
    • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
    • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting a negative ethical response.
    • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting 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.
    • 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 CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
    • CHAPTER-OPENING COMPANY EXAMPLES CONNECT CONTENT TO CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
    • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
    • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
    • 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 gradable in CengageNOWv2.
    • 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 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 Update.
    • Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2018.
    • Glossary.
    • Index.
  • About the Author
  • Gain a strong foundation in financial accounting that prepares you for future study and success in today's business world with Warren/Jonick/Schneider's leading FINANCIAL ACCOUNTING, 16E. This edition connects financial accounting concepts to the "bigger picture" as chapter-opening schemas clearly demonstrate how each chapter's content fits within the overall framework of the book. The digital CengageNOWv2's Journal Entry Tool reinforces this approach by automatically illustrating the impact of transactions on the accounting equation. This book's hallmark presentation of the accounting cycle provides an unmatched foundation for later chapters and even upcoming coursework and your career. The authors have carefully streamlined content and improved learning features throughout this edition and CengageNOWv2's digital resources to ensure you have the understanding of today's financial accounting and specific tools to succeed.
    • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
    • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
    • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
    • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
    • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
    • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
    • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
    • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
    • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
    • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
    • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
    • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
    • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
    • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
    • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
    • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
    • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
    • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
    • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
    • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
    • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting a negative ethical response.
    • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting 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.
    • 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 CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
    • CHAPTER-OPENING COMPANY EXAMPLES CONNECT CONTENT TO CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
    • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
    • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
    • 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 gradable in CengageNOWv2.
    • 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 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 Update.
    • Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2018.
    • Glossary.
    • Index.
  • Table of Contents
  • Gain a strong foundation in financial accounting that prepares you for future study and success in today's business world with Warren/Jonick/Schneider's leading FINANCIAL ACCOUNTING, 16E. This edition connects financial accounting concepts to the "bigger picture" as chapter-opening schemas clearly demonstrate how each chapter's content fits within the overall framework of the book. The digital CengageNOWv2's Journal Entry Tool reinforces this approach by automatically illustrating the impact of transactions on the accounting equation. This book's hallmark presentation of the accounting cycle provides an unmatched foundation for later chapters and even upcoming coursework and your career. The authors have carefully streamlined content and improved learning features throughout this edition and CengageNOWv2's digital resources to ensure you have the understanding of today's financial accounting and specific tools to succeed.
    • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
    • A NEW END-OF-CHAPTER APPENDIX, "GROSS METHOD OF RECORDING SALES DISCOUNTS," SIMPLIFIES THE CHAPTER 6 PRESENTATION AND OFFERS FLEXIBILITY. This new, optional appendix is ideal if you, as the instructor, prefer to cover sales discounts using the gross method. All discussions of the accounting for customer merchandise refunds, including the related adjusting entries, now appear in the appendix to allow a more streamlined chapter presentation.
    • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
    • NEW "WHY IS THE ACCRUAL BASIS OF ACCOUNTING REQUIRED BY GAAP?" EXPLANATION NOW APPEARS IN THE APPENDIX 2 TO CHAPTER 4. Students need to understand why accrual accounting is required by GAAP in order to analyze and evaluate financial statements. The authors clearly illustrate this new explanation by comparing NetSolutions’ financial statements under the accrual basis (Chs. 1-4) with related cash basis financial statements.
    • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
    • NEW EXCEL ONLINE PROBLEMS IN CENGAGENOWV2 PROVIDE PRACTICE USING THE LATEST VERSION OF EXCEL. Now you can give your students practice using this important business and accounting tool in an auto-graded environment. This edition, in partnership with Microsoft®, offers Excel Online to ensure your students are always working with the most current version of Excel.
    • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
    • NEW DISCUSSION OF TIME PERIOD CONCEPT NOW APPEARS IN THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES SECTION OF CHAPTER 1. This new presentation clearly defines and illustrates the natural business year and fiscal year accounting periods. Previously, the fiscal year discussion appeared in Chapter 4.
    • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
    • REVISED PRESENTATION OF "ERRORS NOT AFFECTING THE TRIAL BALANCE" CLARIFIES AND SIMPLIFIES THE PRESENTATION OF CORRECTING JOURNAL ENTRIES. This new section in Chapter 2 is designed to aid student understanding and simplify the preparation needed to correct journal entries.
    • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
    • REVISED, LARGER ILLUSTRATION OF THE ACCOUNTING CYCLE ENHANCES UNDERSTANDING AND REVIEW. This Accounting Cycle illustration in Chapter 4 now encompass two facing pages to clarify this pivotal concept and assist students in study and review.
    • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
    • CENGAGENOWV2 BETTER PREPARES STUDENTS FOR THE EXAM. CengageNOWv2’s Blank Sheet of Paper activities provide an online homework experience that replicates what students will experience on the exam and in the today's business world. This approach ensures student have mastered the concepts rather than simply guessing their way through the homework.
    • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
    • SIMPLE-TO-COMPLEX PROVEN APPROACH ENSURES STUDENT COMPREHENSION. These experienced authors have combined their own professional knowledge and experience with input from leading accounting faculty to present a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
    • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
    • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition's presentation provides content in a way that reflects how the current generation of students reads and assimilates information. The authors use concise paragraphs and bullets, step-wise progression and meaningful Illustrations and graphs to engage readers and ensure retention.
    • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
    • "SHOW ME HOW" VIDEOS IN CENGAGENOWV2 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 CengageNOWv2 and offer ideal opportunities for self-study and review.
    • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting a negative ethical response.
    • EMPHASIS ON ETHICS REINFORCES THIS EDITION'S PRACTICAL APPROACH. Actual ethical situations related to each chapter’s topics are integrated throughout the individual chapters. Memorable "Ethics: Do It" learning features illustrate a situation with a positive ethical response, while "Ethics: Don’t Do It" features demonstrates professional situations depicting 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.
    • 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 CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
    • CHAPTER-OPENING COMPANY EXAMPLES CONNECT CONTENT TO CURRENT BUSINESS EVENTS. These business examples in each chapter capture student attention while demonstrating the practical use of accounting principles in business today. References to each chapter-opening company are linked to chapter content in margin notes throughout the chapter.
    • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
    • UPDATED BUSINESS CONNECTION BOXES REFLECT CONTEMPORARY BUSINESS SCENARIOS THAT RELATE TO THE CHAPTER CONTENT. These latest Business Connection boxes place this edition's accounting content into the broader context of business issues, which is especially helpful to engage students who are not accounting majors.
    • 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 gradable in CengageNOWv2.
    • 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 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 Update.
    • Appendix D: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2018.
    • Glossary.
    • Index.
 
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