Nelson Higher Education

Higher Education

Corporate Financial Accounting, 14th Edition

  • Carl Warren
  • James M. Reeve
  • Jonathan Duchac
  • ISBN-10: 130565353X
  • ISBN-13: 9781305653535
  • 896 Pages | Hardcover
  • Previous Editions: 2016, 2014, 2012
  • COPYRIGHT: 2017 Published
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Overview

About the Product

Close the gap between homework and exam performance with Warren/Reeve/Duchac’s CORPORATE FINANCIAL ACCOUNTING 14E and CengageNOWv2! Market-leading CORPORATE FINANCIAL ACCOUNTING has been on the forefront of innovation and change based on the needs of today’s teaching and learning environment. Warren/Reeve/Duchac’s CORPORATE FINANCIAL ACCOUNTING 14E, now available as a bundle option with CengageNOWv2, helps elevate student thinking with content that addresses each stage of the learning process from motivation to mastery. This integrated system motivates students to learn, provides practice opportunities to better prepare for exams, and helps students achieve mastery with tools to help them make connections and see the big picture. The Complete Learning System in CORPORATE FINANCIAL ACCOUNTING and CengageNOWv2 is built around the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course. New content includes author-written Dynamic Exhibits that allow students to see connections and relationships like never before! Dynamic Exhibits allow students to change the variables in a scenario and see how a change ripples through the accounting system, helping students understand how concepts relate to one another. In addition to the many new digital assets created for this edition, the textbook content itself has also been revised to include the new revenue recognition standard and a greater emphasis on service companies in the managerial accounting chapters. The end goal of Warren/Reeve/Duchac’s CORPORATE FINANCIAL ACCOUNTING and CengageNOWv2 is to elevate thinking and create more empowered and prepared students--ready to take on the rest of their educational and career goals.

Features

  • ACCOUNTING CYCLE COVERAGE PROVIDES UNMATCHED FOUNDATION IN THE BASICS FOR LATER SUCCESS: The accounting cycle is presented in a simple to complex format over four chapters, using one company example throughout (NetSolutions) and illustrating two months of transactions (November and December). The authors repeat and reinforce the accounting cycle with a capstone illustration (Kelly Consulting) of the accounting cycle for one period. Comprehensive Problem 1 provides additional reinforcement of the accounting cycle with transactions for Kelly Consulting for the next period (May).

  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS: Built for today's students, the Warren/Reeve/Duchac presentation style provides content in a way that reflects how the current generation of students read and assimilate information. The authors use short/concise paragraphs and bullets, stepwise progression, and meaningful Illustrations and graphs to engage students and ensure retention.

  • REVENUE RECOGNITION STANDARD COVERAGE KEEP STUDENTS UP-TO-DATE: The authors have updated this edition's coverage of revenue recognition and integrated the content with the chapter illustration of NetSolutions.

  • CENGAGENOW™V2 CLOSES THE GAP BETWEEN HOMEWORK AND EXAM PERFORMANCE: The new Multi-Panel View enables students to see all elements of a problem on one screen, making it easier for them to navigate the problem and understand the accounting system. New Adaptive Feedback responds to students' unique answers and alerts them to the type of error they have made, keeping students checked-in and progressing. The new Blank Sheet of Paper Experience provides a less leading response system for journal entries and financial statements that discourages over-reliance on the system.

  • "SHOW ME HOW" VIDEOS IN CENGAGENOW™V2 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 CengageNOW™v2 and offer ideal opportunities for self-study and review.

  • "DYNAMIC EXHIBITS" IN CENGAGENOW™V2 DEMONSTRATE ACCOUNTING IN ACTION: Dynamic Exhibits allow students to change the variables in a scenario and see how a change ripples through the accounting system. Students see connections and relationships like never before. Clearly identified by icons in the text, Dynamic Exhibits are embedded within the MindTap® eReader in CengageNOWv2™. They are assignable and gradable in CengageNOW™v2 and offer valuable tools for students to study and review.

About the Author

Carl Warren

Dr. Carl S. Warren is professor emeritus of accounting at the University of Georgia, Athens. For more than 25 years, Dr. Warren has taught all levels of accounting classes. In recent years, he has focused his teaching efforts on principles of accounting and auditing courses. Dr. Warren has taught classes at the University of Iowa, Michigan State University and University of Chicago. He received his Ph.D. from Michigan State University and his B.A.A. and M.A. from the University of Iowa. During his career, Dr. Warren published numerous articles in professional journals, including The Accounting Review, Journal of Accounting Research, Journal of Accountancy, The CPA Journal and Auditing: A Journal of Practice and Theory. Dr. Warren’s outside interests include handball, skiing, hiking, fly-fishing, and golf. He also spends time backpacking in U.S. national parks (Yellowstone and the Grand Canyon), playing with his grandchildren and riding ATVs and motorcycles.

James M. Reeve

Dr. James M. Reeve is Professor Emeritus of Accounting and Information Management at the University of Tennessee. Dr. Reeve taught full-time as part of the accounting faculty for twenty-five years after graduating with his PhD from Oklahoma State University. He presently teaches part-time at UT. His teaching efforts focused on Senior Executive MBA programs. His research interests are varied and include work in managerial accounting, supply chain management, lean manufacturing, and information management. He has published more than forty articles in academic and professional journals, including Journal of Cost Management, Journal of Management Accounting Research, Accounting Review, Management Accounting Quarterly, Supply Chain Management Review, and Accounting Horizons. He has consulted or provided training around the world for a variety of organizations, including Boeing, Procter & Gamble, Norfolk Southern, Hershey Foods, Coca-Cola, and Sony. When not writing books, Dr. Reeve plays golf and is involved in faith-based activities.

Jonathan Duchac

Dr. Jonathan Duchac is the Wayne Calloway Professor of Accounting and Acting Associate Dean of Accounting Programs at Wake Forest University. He earned his PhD in accounting from the University of Georgia and currently teaches introductory and advanced courses in financial accounting. Dr. Duchac has received a number of awards during his career, including the Wake Forest University Outstanding Graduate Professor Award, the T.B. Rose award for Instructional Innovation, and the University of Georgia Outstanding Teaching Assistant Award. In addition to his teaching responsibilities, Dr. Duchac has served as Accounting Advisor to Merrill Lynch Equity Research, where he worked with research analysts in reviewing and evaluating the financial reporting practices of public companies. He has testified before the U.S. House of Representatives, the Financial Accounting Standards Board, and the Securities and Exchange Commission and has worked with a number of major public companies on financial reporting and accounting policy issues. In addition to his professional interests, Dr. Duchac is an avid mountain biker and snow skier.

Table of Contents

1. Introduction to Accounting and Business.
2. Analyzing Transactions.
3. The Adjusting Process.
4. Completing the Accounting Cycle.
5. Accounting for Merchandising Businesses.
6. Inventories.
7. Internal Control and Cash.
8. Receivables.
9. Long Term Assets: Fixed and Intangible.
10. Liabilities: Current, Installment Notes, and Contingencies.
11. Liabilities: Bonds Payable.
12. Corporations: Organization, Stock Transactions, and Dividends.
13. Statement of Cash Flows.
14. Financial Statement Analysis.
Appendix A: Interest Tables.
Appendix B: Revenue Recognition Update.
Appendix C: International Financial Reporting Standards.
Appendix D: Investments.
Appendix E: Nike Inc., Form 10-K For the Fiscal Year Ended May 31, 2015.
Appendix F: Special Journals (online)
Glossary.
Index.

New to this edition

  • NEW CHAPTER SCHEMA PLACES INDIVIDUAL CHAPTER TOPICS INTO A BROADER CONTEXT: A new schema opens each chapter and provides a "you are here" map to help students navigate course content. The schema shows how the concept the student is going to learn connects to the larger business and accounting picture. In the early chapters, the schema demonstrates how the steps in the accounting cycle are interrelated. In later chapters, the schema highlights how the chapter's topics connect to the financial statements.
  • ENHANCED REAL COMPANY INTEGRATION EMPHASIZES THE IMPORTANCE OF CONCEPTS IN BUSINESS: Each chapter opener focuses on a well-known contemporary company. New corresponding "Link to" features throughout the chapter revisit the company to clearly demonstrate how the chapter's concepts consistently apply to this real world business.
  • NEW JOURNAL ENTRY FORMAT AIDS STUDENT COMPREHENSION: To demonstrate the impact of the transaction on the business, each journal entry includes the net effect of the transaction on the accounting equation. This link between the journal entry and the accounting equation is also emphasized in the accompanying CengageNOW™v2 product as a new journal entry tool illustrates the impact of the transaction on the accounting equation.
  • TOGGLE BETWEEN DROP DOWNS AND BLANK SHEET OF PAPER: In addition to Blank Sheet of Paper activities, instructors also have the option of assigning – or using in class for demonstration purposes – assignments with drop downs. Instructors can now carefully tailor their assignments to the needs of their students at that moment.
  • NEW "WHY IT MATTERS" FEATURES HIGHLIGHT HOW ACCOUNTING IMPACTS BUSINESS SUCCESS: New "Why It Matters" features help students connect accounting information with its larger application to business decisions. These features use memorable examples from real companies to illustrate why accounting is so important.
  • NEW "CHECK UP CORNER" HELPS STUDENTS TEST THEIR UNDERSTANDING: To aid learning and encourage problem solving, "Check Up Corner" features in each chapter provide students with representative problems and solutions. Tips help students improve problem-solving skills and avoid common errors.
  • NEW "ANALYSIS FOR DECISION MAKING" PUTS PROCEDURES INTO CONTEXT: The end of each chapter includes this new section that uses real company illustrations to emphasize how businesses use accounting information to make decisions or evaluate the health of the company. Related Analysis for Decision Making assignments allow students to improve analytical skills using real world company data.
  • NEW "LET'S REVIEW" HELP STUDENTS PREPARE FOR EXAMS: These new end-of-chapter features assist busy, distracted students in reviewing and studying for exams. Each "Let's Review" includes a summary of the chapter, multiple-choice questions, exercises, and a sample problem for students to practice and test themselves. Clear solutions are provided for all practice items. "Show Me How" problem demonstration videos and additional algorithmic practice opportunities are available within CengageNOW™v2 for the Exercises in the "Let's Review" Sections.

Supplements

All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

Solutions Manual, Volume 1, Chapters 1-14  (ISBN-10: 1305878841 | ISBN-13: 9781305878846)

Author-written and carefully verified multiple times to ensure accuracy and consistency with the text, the Solutions Manual contains answers to the Discussion Questions, Basic Exercises, Exercises, Problems (Series A and Series B), Analysis for Decision Making, and Take It Further assignments that appear in each chapter. Solutions for the Continuing Problem and Comprehensive Problems are also included. These solutions help you easily plan, assign and efficiently grade assignments. For your convenience, the Solutions Manual is also available on the password-protected instructor website.

Companion Website  (ISBN-10: 130587885X | ISBN-13: 9781305878853)

This robust companion website provides immediate access to a rich array of teaching and learning resources, including the Solutions Manual, Instructor's Manual, PowerPoint® slides, Excel Templates and Solutions, Practice Set Solutions, and Transparency Masters and Handouts (with solutions). Easily download the instructor resources you need from the password-protected, instructor-only section of the site.

Cengage Testing, powered by Cognero® Instant Access  (ISBN-10: 1305878876 | ISBN-13: 9781305878877)

Cengage Learning Testing, powered by Cognero®, is a flexible, online system that allows you to author, edit, and manage test bank content. You can create multiple test versions in an instant and deliver tests from your LMS, in your classroom or through CengageNOWv2.

Working Papers  (ISBN-10: 1305878833 | ISBN-13: 9781305878839)

These working papers provide students with a starting point for completing end-of-chapter assignments from the textbook.

Fit and Fashionable Practice Set with Cengage Learning General Ledger Software, 2 terms (12 months) Printed Access Card  (ISBN-10: 1337272574 | ISBN-13: 9781337272575)

This practice set is a merchandising business operated as a proprietorship. This business is a retail and wholesale seller of fitness equipment and apparel. This set includes a general journal and special journals: sales journal, purchases journal, cash receipts journal, and cash payments journal. It also includes sub- and general ledgers, a checkbook register, and source documents. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 14-15 hours.

Hydro Paddle Boards Practice Set with Cengage Learning General Ledger, 2 terms (12 months) Printed Access Card  (ISBN-10: 1305671554 | ISBN-13: 9781305671553)

This practice set is for a manufacturing business operated as a corporation. The corporation designs and manufactures custom paddle boards and uses a job-order cost system. This set includes subsidiary ledgers, a schedule of employer payroll taxes, a schedule of unfinished goods, and job cost records. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 13-15 hours.

CengageNOWv2, 1 term Instant Access for Warren/Reeve/Duchac's Corporate Financial Accounting  (ISBN-10: 1305878906 | ISBN-13: 9781305878907)

With its engaging learning and assessment tools, CengageNOWv2 supports the entire student workflow, from motivation to mastery. For you, the instructor, CengageNOWv2 provides control and customization with the opportunity to tailor the learning experience to improve outcomes.

LMS Integrated for CengageNOWv2, 1 term Instant Access for Warren/Reeve/Duchac's Corporate Financial Accounting  (ISBN-10: 1305878922 | ISBN-13: 9781305878921)

This access code will provide your students with seamless access to their LMS Integrated for CengageNOWv2 resources from within your campus Learning Management System. Students will be prompted to enter this access code the first time that they click on a link in your course that includes Cengage content.

Student Supplements

Working Papers  (ISBN-10: 1305878833 | ISBN-13: 9781305878839)

You'll find the valuable tools you need to help work through end-of-chapter assignments with these working papers. The preformatted files provide a starting point by giving you a basic structure for journal entries and problems.

Fit and Fashionable Practice Set with Cengage Learning General Ledger Software, 2 terms (12 months) Printed Access Card  (ISBN-10: 1337272574 | ISBN-13: 9781337272575)

This practice set is a merchandising business operated as a proprietorship. This business is a retail and wholesale seller of fitness equipment and apparel. This set includes a general journal and special journals: sales journal, purchases journal, cash receipts journal, and cash payments journal. It also includes sub- and general ledgers, a checkbook register, and source documents. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 14-15 hours.

Hydro Paddle Boards Practice Set with Cengage Learning General Ledger, 2 terms (12 months) Printed Access Card  (ISBN-10: 1305671554 | ISBN-13: 9781305671553)

This practice set is for a manufacturing business operated as a corporation. The corporation designs and manufactures custom paddle boards and uses a job-order cost system. This set includes subsidiary ledgers, a schedule of employer payroll taxes, a schedule of unfinished goods, and job cost records. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 13-15 hours.

CengageNOWv2, 1 term Instant Access for Warren/Reeve/Duchac's Corporate Financial Accounting  (ISBN-10: 1305878906 | ISBN-13: 9781305878907)

Have the tools you need to be successful. A variety of tools are available online within CengageNOWv2, all combined in one easy-to-use resource designed to improve your grades. Some resources help you prepare for class and succeed on homework. Others show you specific areas where you can work to improve. This access code entitles you to 1 course enrollment. The duration of the code is your course length, plus 14 days.

LMS Integrated for CengageNOWv2, 1 term Instant Access for Warren/Reeve/Duchac's Corporate Financial Accounting  (ISBN-10: 1305878922 | ISBN-13: 9781305878921)

This access code will provide you with seamless access to your LMS Integrated for CengageNOWv2 resources from within your campus Learning Management System. You will be prompted to enter this access code the first time that you click on a link in your course that includes Cengage content.