Horngren's Financial & Managerial Accounting, The Financial Chapters, Global Edition

Series
Pearson
Author
Tracie Miller-Nobles / Brenda Mattison / Ella Mae Matsumura  
Publisher
Pearson
Cover
Softcover
Edition
6
Language
English
Total pages
984
Pub.-date
January 2018
ISBN13
9781292234403
ISBN
1292234407
Related Titles



Description

For courses in Financial and Managerial Accounting.

 

Expanding on proven success with Horngren's financial and managerial accounting

Horngren’s Financial and Managerial Accounting, The Financial Chapters presents the core content of principles of accounting courses in a fresh format designed to help today’s learners succeed. As teachers first, the author team knows the importance of delivering a student experience free of obstacles. Their pedagogy and content uses leading methods in teaching students critical foundational topics and concentrates on improving student results--all tested in class by the authors themselves. With this in mind, the 6th Edition continues to focus on readability and student comprehension.

 

Also available with MyLab Accounting

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


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

Features

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content that is especially relevant to students outside the United States.

About the book

 

Coverage of the latest accounting trends and issues

·    NEW! Discussion on:

o Why accounting is important to non-accounting majors;

o How to calculate interest for notes receivable and payable;

o How sensitivity analysis can be used and the differences between predicted cost behavior versus actual management behavior;

o Credit card sales;

o Future value, including determining the future value of a lump sum and of an annuity; and

o Types of budgets, including participative, zero-based, and continuous ones.

·    UPDATED! and REVISED! Coverage on/presentation of:

o The revenue recognition principle for the newly released standard;

o Use of the classified balance sheet as a requirement for end-of-chapter problems;

o The balance sheet to reflect Property, Plant, and Equipment (vs. Plant Assets);

o Interest calculations that use a 365-day year (vs. 360-) to better reflect how actual lenders calculate interest;

o An income statement to reflect Other Income and (Expenses)--better reflecting how actual income statements are presented;

o Estimating bad debts to help students understand why the Allowance for Bad Debts account may have either a debit or credit unadjusted balance due to previously overestimated/underestimated adjustments;

o Sales of merchandise to reflect the newly released revenue recognition standard, including reporting sales on account at the net amount and introduction of the Sales Discounts Forfeited account;

o Debt and equity securities to reflect newly released financial instrument standard including the elimination of trading investments (equity) and available-for-sale investments (equity);

o Payroll for consistency with current payroll laws;

o Performance reports using static budgets, including the advantages and disadvantages.

·    NEW! Problem has students complete a trend analysis and ratios to analyze a company for its investment potential.

·    NEW! Section to illustrate how companies record the payment of payroll liabilities.

·    NEW! Appendix (5A) discusses multiple performance obligations.

 

Integrate pedagogy with concepts and practical applications

·    NEW! Using Excel. This end-of-chapter problem introduces students to Excel to solve common accounting problems as they would in the business environment.

·    NEW! Tying It All Together feature ties together key concepts from the chapter using the company highlighted in the chapter opener. The in-chapter box feature presents scenarios and questions that the company could face and focuses on the decision-making process. The end-of-chapter business case helps students synthesize the concepts of the chapter and reinforce critical thinking.

·    NEW! A Continuing Problem starts in Chapter 1 and runs through the financial chapters.

·    Effects on the Accounting Equation illustrations help students see connections between transactions, as well as how transactions fit into the big picture. Located next to every journal entry, they reinforce the connections between recording a transaction and the effect those transactions have on the accounting equation.

·    Instructor Tips & Tricks throughout the text mimic the experience of having an experienced teacher walk a student through concepts on the board. Many include mnemonic devices or examples to help students remember the rules of accounting.

·    Common Questions, Answered is rooted in the authors’ teaching experiences over the years, and offers additional help with patterns and rules that consistently confuse students. Located in the text’s margin next to where the answer or clarification can be found, they help students better understand difficult concepts.

·    Try It! boxes found after each learning objective give students opportunities to apply the concept they’ve just learned by completing an accounting problem. Links to these exercises appear throughout the eText, allowing students to practice in MyLab™ Accounting without interruption.

·    Things You Should Know provide students with a brief review of each learning objective presented in a question and answer format, helping to prepare them for exams.

·    Chapter Openers present relatable stories that set up the concepts to be covered in the chapter. The implications of those concepts on a company’s reporting and decision-making processes are then discussed.

·    Decisions Boxes highlight common questions that business owners face, prompting students to determine the course of action they would take based on concepts covered in the chapter.

·    IFRS icons provide guidance on how International Financial Reporting Standards (IFRS) differs from US GAAP throughout the financial chapters.

 

End-of-chapter review and summary problems

·    Comprehensive Problem 1 for Chapters 1–4 covers the entire accounting cycle for a service company.

·    Comprehensive Problem 2 for Chapters 1–4 is a continuation of Problem 1 and requires the student to record transactions for the month after the closing process.

·    NEW! Comprehensive Problem for Chapters 5 and 6 covers the entire accounting cycle for a merchandise company, including analysis.

·    NEW! Comprehensive Problem for Chapters 7–9 covers cash, receivables, and long-term assets transactions and analysis.

·    NEW! Comprehensive Problem for Chapters 11–13 covers payroll, other current liabilities, long-term liabilities, and stockholders’ equity transactions and analysis.

·    A Comprehensive Problem for Appendix B uses special journal and subsidiary ledgers and covers the entire accounting cycle for a merchandise company. Students can complete this comprehensive problem using the MyLab Accounting General Ledger or QuickBooks™ software.

 

Also available with MyLab Accounting

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

·    Auto-Graded Homework with Learning Aids. MyLab Accounting homework and practice questions are correlated to the textbook, regenerate algorithmically to give students unlimited opportunity for practice and mastery, and offer helpful feedback when students enter incorrect answers. Learning aids, such as Help Me Solve This, DemoDoc Examples, and concept videos provide extra help for students at the point-of-use.

·    Worked Out Solutions. Sometimes students need more than just the correct answer to understand their mistakes; they need to understand how to get to that correct answer. Worked Out Solutions are available to students when they are reviewing their submitted and graded homework. The Worked Out Solutions provide step-by-step explanations on how to solve the problem using the exact numbers and data that was presented to the student in the problem.

·    Personalized Learning. Not every student learns the same way or at the same rate. With the growing need for acceleration through many courses, it's more important than ever to meet students where they learn. Personalized learning in MyLab Accounting gives you the flexibility to incorporate the approach that best suits of your course and your students.

o The Study Plan acts as a tutor, providing personalized recommendations for each of your students based on his or her ability to master the learning objectives in your course. This allows students to focus their study time by pinpointing the precise areas they need to review, and allowing them to use customized practice and learning aids—such as eText, tutorials, and more—to get them back on track. Using the report available in the Gradebook, you can then tailor course lectures to prioritize the content where students need the most support—offering you better insight into classroom and individual performance.

·    Question Types enhance flexibility:

o Open Response Questions require students to type in their answers instead of choosing them from a drop-down menu. This helps students think critically while further preparing them for the format of their exam.

o General Ledger Questions. Students can launch the General Ledger software in MyLab Accounting, work on their accounts, post to the ledger, and save their work. The work is auto-graded and their grades automatically flow to the MyLab Accounting Gradebook.

o An Algorithmic Testbank allows instructors to create tests with unique values for each student.

·    Robust Gradebook tracking. The online Gradebook automatically tracks your students' results on tests, homework, and practice exercises and gives you control over managing results and calculating grades. The Gradebook provides a number of flexible grading options, including exporting grades to a spreadsheet program such as Microsoft Excel. And, it lets you measure and document your students' learning outcomes.

·    Learning Management System (LMS) Integration. You can now link from Blackboard Learn, Brightspace by D2L, Canvas, or Moodle to MyLab Accounting. Access assignments, rosters, and resources, and synchronize grades with your LMS Gradebook. For students, single sign-on provides access to all the personalized learning resources that make studying more efficient and effective.

·    Reporting Dashboard. View, analyze, and report learning outcomes clearly and easily, and get the information you need to keep your students on track throughout the course, with the new Reporting Dashboard. Available via the MyLab Accounting Gradebook and fully mobile-ready, the Reporting Dashboard presents student performance data at the class, section, and program levels in an accessible, visual manner.

·    Easily scalable and shareable content. MyLab Accounting enables you to manage multiple class sections, and lets other instructors copy your settings so a standardized syllabus can be maintained across your department. Should you want to use the same MyLab Accounting course next semester, with the same customized settings, you can copy your existing course exactly—and even share it with other faculty members.

New to this Edition

About the book

 

Coverage of the latest accounting trends and issues

·    Discussion on:

o Why accounting is important to non-accounting majors;

o How to calculate interest for notes receivable and payable;

o How sensitivity analysis can be used and the differences between predicted cost behavior versus actual management behavior;

o Credit card sales;

o Future value, including determining the future value of a lump sum and of an annuity; and

o Types of budgets, including participative, zero-based, and continuous ones.

·    Coverage on/presentation of:

o The revenue recognition principle for the newly released standard;

o Use of the classified balance sheet as a requirement for end-of-chapter problems;

o The balance sheet to reflect Property, Plant, and Equipment (vs. Plant Assets);

o Interest calculations that use a 365-day year (vs. 360) to better reflect how actual lenders calculate interest;

o An income statement to reflect Other Income and (Expenses)--better reflecting how actual income statements are presented;

o Estimating bad debts to help students understand why the Allowance for Bad Debts account may have either a debit or credit unadjusted balance due to previously overestimated/underestimated adjustments;

o Sales of merchandise to reflect the newly released revenue recognition standard, including reporting sales on account at the net amount and introduction of the Sales Discounts Forfeited account;

o Debt and equity securities to reflect newly released financial instrument standard including the elimination of trading investments (equity) and available-for-sale investments (equity);

o Payroll for consistency with current payroll laws;

o Performance reports using static budgets, including the advantages and disadvantages.

·    Problem has students complete a trend analysis and ratios to analyze a company for its investment potential.

·    Section to illustrate how companies record the payment of payroll liabilities.

·    Appendix (5A) discusses multiple performance obligations.

 

Integrate pedagogy with concepts and practical applications

·    Using Excel. This end-of-chapter problem introduces students to Excel to solve common accounting problems as they would in the business environment.

·    Tying It All Together feature ties together key concepts from the chapter using the company highlighted in the chapter opener. The in-chapter box feature presents scenarios and questions that the company could face and focuses on the decision-making process. The end-of-chapter business case helps students synthesize the concepts of the chapter and reinforce critical thinking.

·    A Continuing Problem starts in Chapter 1 and runs through the financial chapters.

 

End-of-chapter review and summary problems

·    Comprehensive Problem for Chapters 5 and 6 covers the entire accounting cycle for a merchandise company, including analysis.

·    Comprehensive Problem for Chapters 7-9 covers cash, receivables, and long-term assets transactions and analysis.

·    Comprehensive Problem for Chapters 11-13 covers payroll, other current liabilities, long-term liabilities, and stockholders’ equity transactions and analysis.

 

Also available with MyLab Accounting

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

o Try It! Solution Videos. Author-recorded and accompanying all Try It! Exercises, these videos walk students through the problem and solution.

o Interactive Exhibits allow students to engage with key exhibits within the enhanced eText. Students can work with journal entries, modify an exhibit’s data to see the resulting impact and effects, or watch a video explanation of key concepts.

Table of Contents

1. Accounting and the Business Environment

2. Recording Business Transactions

3. The Adjusting Process

4. Completing the Accounting Cycle

5. Merchandising Operations

6. Merchandise Inventory

7. Internal Control and Cash

8. Receivables

9. Plant Assets, Natural Resources, and Intangibles

10. Investments

11. Current Liabilities and Payroll

12. Long-Term Liabilities

13. Stockholders' Equity

14. The Statement of Cash Flows

15. Financial Statement Analysis

 

APPENDIX A: Present Value Tables and Future Value Tables

APPENDIX B: Accounting Information Systems

Author

Tracie L. Miller-Nobles, CPA, received her bachelor’s and master’s degrees in accounting from Texas A&M University and is currently pursuing her PhD in adult education also at Texas A&M University. She is an Associate Professor at Austin Community College, Austin, TX. Previously she served as a Senior Lecturer at Texas State University, San Marcos, TX, and has taught as an adjunct at University of Texas-Austin. Miller-Nobles has public accounting experience with Deloitte Tax LLP and Sample & Bailey, CPAs.

 

Miller-Nobles is a recipient of the American Accounting Association J. Michael and Mary Ann Cook prize, Texas Society of CPAs Rising Star award, TSCPA Austin Chapter CPA of the Year award, TSCPA Outstanding Accounting Educator award, NISOD Teaching Excellence award and the Aims Community College Excellence in Teaching award. She is a member of the Teachers of Accounting at Two Year Colleges, the American Accounting Association, the American Institute of Certified Public Accountants, and the Texas State Society of Certified Public Accountants. She is currently serving on the Board of Directors as secretary/webmaster of Teachers of Accounting at Two Year Colleges and as a member of the American Institute of Certified Public Accountants financial literacy committee. In addition, Miller-Nobles served on the Commission on Accounting Higher Education: Pathways to a Profession.

 

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

 

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

 

Mattison is a member of the American Accounting Association, Institute of Management Accountants, South Carolina Technical Education Association, and Teachers of Accounting at Two Year Colleges. She is currently serving on the Board of Directors as Vice President of Conference Administration of Teachers of Accounting at Two Year Colleges. Mattison previously served as Faculty Fellow at Tri-County Technical College. She has presented at state, regional, and national conferences on topics including active learning, course development, and student engagement. 

 

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

 

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

 

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