Nelson Higher Education

Higher Education

Intermediate Accounting: Reporting and Analysis, 2nd Edition

  • James M. Wahlen
  • Jefferson P. Jones
  • Donald P. Pagach
  • ISBN-10: 1285453824
  • ISBN-13: 9781285453828
  • 1488 Pages | Hardcover
  • Previous Editions: 2013
  • COPYRIGHT: 2016 Published
Request a Copy for Review

Overview

About the Product

Wahlen/Jones/Pagach's INTERMEDIATE ACCOUNTING, 2E and CengageNOWv2 address the issue of student confidence in the Intermediate Accounting course like no other product on the market. The print and digital resources help students understand the course rigor and time requirements of the Intermediate course before that first exam, and the CengageNOWv2 Adaptive Study Plan and in-text "Got it?" quick checks keep students on track, building confidence with detailed remediation and thorough explanations that build a pathway to success. All of this is accomplished without sacrificing the book's approachable writing style that uses recognizable, familiar companies such as an ongoing Starbucks case, and examples from familiar companies, such as Coca Cola, Louis Vuitton, and Nestlé. This edition presents the latest information on the new Revenue Recognition Standards. After carefully considering the most effective methods for covering this topic, the authors have incorporated updates throughout the book with special spotlight coverage in Chapter 17.

Features

  • CENGAGENOWv2 helps elevate student thinking with content that addresses each stage of the learning process from motivation to mastery. CengageNOWv2 motivates and prepares students to learn, provides practice opportunities that better prepare students for the exam, and helps students achieve mastery with tools to help them make connections and see the big picture. Visit www.cnowv2demo.cengage.com for more information and an interactive demo.

  • CASES AND EXAMPLES PROVIDE SUPERIOR CONTEXT AND ENCOURAGE CRITICAL THINKING. A continuing case featuring Starbucks, while examples from other highly recognizable companies help students understand why accounting information is important. Students also gain a better understanding of the implications accounting information holds for today's financial statement users.

  • STARBUCKS CONTINUING THREAD CASE INTEGRATES ACTUAL FINANCIAL INFORMATION THROUGHOUT THE BOOK. Students are motivated and engaged by the integration of the real financial information and business strategy of Starbucks in discussions and examples throughout this edition. Specific end-of-chapter applications demonstrate how a wide variety of accounting concepts apply to a single company.

  • "REAL REPORTS" MOTIVATE READERS TO APPLY CONCEPTS. This unique feature enables students to interact with excerpts from actual annual reports, analyze this information, and apply what they have learned by answering corresponding questions.

  • IFRS COVERAGE AND APPLICATIONS CLARIFY THESE GLOBAL STANDARDS. "International Dimension" features illustrate the differences between International Financial Reporting Standards (IFRS) and U.S. GAAP. Accompanying IFRS Applications demonstrate how journal entries and financial statements are prepared under IFRS. When differences are significant, the feature shows side-by-side comparisons of excerpts prepared under both U.S. GAAP and IFRS. End-of-chapter IFRS assignments highlight real company financial statements from international companies, such as Louis Vuitton and Nestlé.

  • "LOOKING AHEAD" PREVIEWS SIGNIFICANT INDUSTRY CHANGES ON THE HORIZON. This insightful feature exposes a number of significant changes in the future, including the ongoing convergence between U.S. GAAP and IFRS, proposed changes to the financial statement presentation, and other pending developments.

  • CODIFICATION APPLICATIONS PROVIDE A STEP-BY-STEP GUIDE. Your students can use THE FASB'S ACCOUNTING STANDARDS CODIFICATION: A USER-FRIENDLY GUIDE as part of this edition's online collection of digital resources. Students learn how to use codification step-by-step. Brief assignments in the Guide and comprehensive assignments in the main book's end-of-chapter materials encourage students to research independently and become familiar with using codification effectively. This resource is available on the companion website.

  • NEXT LEVEL REQUIREMENTS ENCOURAGE STUDENTS TO MASTER ADVANCED THINKING SKILLS. These requirements within select end-of-chapter questions require students to go beyond the basic understanding of accounting rules and procedures and develop critical-thinking and decision-making skills. Specific open-ended requirements are now converted into fill-in-the-blank questions in CengageNOW™ and are automatically gradable assignments.

About the Author

James M. Wahlen

James M. Wahlen is the James R. Hodge Chair, Professor of Accounting, Chair of the Accounting Department and the former Chairman of the MBA Program at the Kelley School of Business at Indiana University. He received his Ph.D. from the University of Michigan and has served on the faculties of the University of Chicago, University of North Carolina at Chapel Hill, INSEAD, the University of Washington and Pacific Lutheran University. Dr. Wahlen’s teaching and research interests focus on financial accounting, financial statement analysis and the capital markets. His research investigates earnings quality and earnings management, earnings volatility as an indicator of risk, fair value accounting for financial instruments, accounting for loss reserve estimates by banks and insurers, stock market efficiency with respect to accounting information and testing the extent to which future stock returns can be predicted with earnings and other financial statement information. His research has been published in a wide array of academic and practitioner journals in accounting and finance. He has had public accounting experience in both Milwaukee and Seattle and is a member of the American Accounting Association. He has received numerous teaching awards during his career. In his free time Dr. Wahlen loves spending time with his wife and daughters; spoiling his incredibly adorable granddaughter, Ailsa; outdoor sports (biking, hiking, skiing, golf); cooking (and, of course, eating); and listening to rock music (especially if it is loud and live).

Jefferson P. Jones

Jefferson P. Jones is the PricewaterhouseCoopers associate professor of accounting at Auburn University. He received his bachelor’s and master of accountancy degrees from Auburn University and his Ph.D. in accounting from Florida State University. While earning his CPA, he worked for Deloitte & Touche. He has received numerous teaching awards, including the Outstanding Master of Accountancy Professor Award, the Beta Alpha Psi Outstanding Teaching Award (six times), the Auburn University College of Business McCartney Teaching Award, and the Auburn University School of Accountancy Teaching Award. In addition to writing an intermediate accounting text, he has published articles in Advances in Accounting, Review of Quantitative Finance and Accounting, Issues in Accounting Education, International Journal of Forecasting, The CPA Journal, Managerial Finance, Journal of Accounting and Finance Research, and The Journal of Corporate Accounting and Finance. Jones has made numerous presentations around the country on research and pedagogical issues. He is a member of the American Accounting Association (AAA), the American Institute of Certified Public Accountants (AICPA), and the Alabama Society of CPAs (ASCPA).

Donald P. Pagach

Dr. Donald P. Pagach is Professor of Accounting at the Poole College of Management at North Carolina State University. He received his Ph.D. from Florida State University and his B.A. and M.A. in Accounting from the University of Wisconsin-Madison. His research interests focus on financial accounting and enterprise risk management, with a specific focus on forecasting and financial statement analysis. He has published articles in numerous journals, including Journal of Accounting Research, Contemporary Accounting Research, Journal of Accounting, Auditing and Finance, and The CPA Journal. Dr. Pagach has been named as a University Outstanding Teacher and has received awards for his research on Enterprise Risk Management. Previously, Dr. Pagach taught at Louisiana State University, and he also gained public accounting experience working for Coopers and Lybrand as an auditor. He holds a CPA certificate in the state of North Carolina and is a member of the American Accounting Association and the American Institute of Certified Public Accountants (AICPA). In 2017 he was named the chair of the Financial Accounting and Reporting Examinations Committee for the AICPA, which oversees the CPA exam. Dr. Pagach is married, has three children, and enjoys traveling, especially if the trip includes a beach.

Table of Contents

Part I: FINANCIAL REPORTING AND STATEMENTS: OBJECTIVES, CONCEPTS, AND ANALYSIS.
1. The Demand for and Supply of Financial Accounting Information.
2. Financial Reporting: Its Conceptual Framework.
3. Review of a Company's Accounting System.
4. The Balance Sheet and the Statement of Shareholders' Equity.
5. The Income Statement and the Statement of Cash Flows.
Time Value of Money Module.
Part II: BUSINESS OPERATING ACTIVITIES.
6. Cash and Receivables.
7. Inventories: Cost Measurement and Flow Assumptions.
8. Inventories: Special Valuation Issues.
9. Current Liabilities and Contingent Obligations.
Part III: INVESTING ACTIVITIES.
10. Property, Plant, and Equipment: Acquisition and Subsequent Investments.
11. Depreciation, Depletion, Impairment, and Disposal.
12. Intangibles.
13. Investments and Long-Term Receivables.
Part IV: FINANCING ACTIVITIES.
14. Financing Liabilities: Bonds and Long-Term Notes Payable.
15. Contributed Capital.
16. Retained Earnings and Earnings Per Share.
Part V: SPECIAL TOPICS IN FINANCIAL REPORTING.
17. Advanced Issues in Revenue Recognition.
18. Accounting for Income Taxes.
19. Accounting for Post-Retirement Benefits.
20. Accounting for Leases.
21. The Statement of Cash Flows.
22. Accounting for Changes and Errors.
Appendix A: Starbucks Financial Statements (full report).
Appendix B: List of the Official Pronouncements of the AICPA and FASB.
Appendix C: List of the Official Pronouncements of the IASB.
Appendix D: Brief Guide to Key Differences Between IFRS and GAAP by Chapter.

New to this edition

  • NEW FOCUS ON BUILDING STUDENT CONFIDENCE BETTER PREPARES STUDENTS FOR SUCCESS. This edition incorporates a fresh new approach to student readiness based on extensive student and instructor research. Text and electronic resources are designed to counter the consistent challenge of students entering your course unprepared for the volume and intensity of work required for success in intermediate accounting.
  • NEW COVERAGE OF THE REVISED REVENUE RECOGNITION STANDARD KEEPS COURSE CONTENT UP TO DATE WITH THE LATEST DEVELOPMENTS. This edition presents the latest information on new Revenue Recognition Standards. After carefully considering the most effective methods for covering this topic, the authors have incorporated updates throughout the book with special spotlight coverage in Chapter 17.
  • NEW CENGAGENOWv2 HELPS CLOSE THE GAP BETWEEN HOMEWORK AND EXAM PERFORMANCE. The new Multi-Panel View enables students to see all the elements of a problem on one screen, making it easier for them to navigate the problem and understand the accounting system. The new Adaptive Feedback responds to students based upon their 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. Visit www.cnowv2demo.cengage.com for more information and an interactive demo.
  • NEW "GOT IT?" QUICK CHECK AT THE END OF EACH SECTION ALLOWS STUDENTS TO IMMEDIATELY CHECK THEIR COMPREHENSION OF A TOPIC. A helpful "Got It?" series of questions appears after coverage of each Learning Objective to confirm students understand the material presented and are ready to continue in the chapter. Students have the opportunity to spend additional time reviewing and mastering a concept before moving ahead.
  • NEW "REVIEW CENTERS" AT THE END OF EACH CHAPTER SUMMARIZE ALL MAJOR CONCEPTS FROM THE CHAPTER AT A GLANCE. These timely Review Centers condense and summarize review material for each Learning Objective. These review features also present Key Terms and Formulas grouped by Learning Objective for quick review. This at-a-glance resource is ideal in saving time as students find chapter highlights in one consistent place that's easy to locate in each chapter.

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

Instructor's Companion Website  (ISBN-10: 1285453816 | ISBN-13: 9781285453811)

The instructor website has the supplements you need to enhance your lesson planning and classroom instruction. You'll find PowerPoints, Excel templates, a test bank in Word format, transparency masters, and more.

Solutions Manual, Volume 1  (ISBN-10: 1305503430 | ISBN-13: 9781305503434)

Author-written and carefully verified multiple times to ensure accuracy and consistency with the text, the Solutions Manual contains answers to all questions, review exercises, exercises, problems, and cases that appear in the text for Chapters 1-13. These solutions help you easily and efficiently plan, assign, and grade assignments.

Solutions Manual, Volume 2  (ISBN-10: 1305503465 | ISBN-13: 9781305503465)

Author-written and carefully verified multiple times to ensure accuracy and consistency with the text, the Solutions Manual contains answers to all questions, review exercises, exercises, problems, and cases that appear in the text for Chapters 14-22. These solutions help you easily and efficiently plan, assign, and grade assignments.

Cengage Testing, powered by Cognero® Instant Access  (ISBN-10: 1305501624 | ISBN-13: 9781305501621)

Cengage Learning Testing Powered by Cognero is a flexible, online system that allows you to author, edit, and manage test bank content from multiple Cengage Learning solutions; create multiple test versions in an instant; and deliver tests from your learning management system, your classroom, or wherever you want!

CengageNOWv2, 2 terms Instant Access for Wahlen/Jones/Pagach's Intermediate Accounting: Reporting and Analysis  (ISBN-10: 1305405668 | ISBN-13: 9781305405660)

CengageNOWv2 helps elevate student thinking with content that addresses each stage of the learning process from motivation to mastery. CengageNOWv2 motivates and prepares students to learn, provides practice opportunities that better prepare students for the exam, and helps students achieve mastery with tools to help them make connections and see the big picture.

LMS Integrated for CengageNOWv2, 2 terms Instant Access for Wahlen/Jones/Pagach's Intermediate Accounting: Reporting and Analysis  (ISBN-10: 1305662393 | ISBN-13: 9781305662391)

This access code will provide your students with seamless access to their 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

CengageNOWv2, 2 terms Instant Access for Wahlen/Jones/Pagach's Intermediate Accounting: Reporting and Analysis  (ISBN-10: 1305405668 | ISBN-13: 9781305405660)

CengageNOWv2 is an easy-to-use online resource that helps you study in less time to get the grade you want. This integrated system helps you efficiently manage and complete homework assignments from the text. Take quizzes and get feedback to determine the areas which require more practice and direct you to review tutorials, demonstration exercises, videos, eBook content, and fun accounting games to help learn the material. This one-stop, online passport allows access to CengageNOWv2 for all of your courses without having to sign in again.

LMS Integrated for CengageNOWv2, 2 terms Instant Access for Wahlen/Jones/Pagach's Intermediate Accounting: Reporting and Analysis  (ISBN-10: 1305662393 | ISBN-13: 9781305662391)

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.