Nelson Higher Education

Higher Education

Financial & Managerial Accounting, 13th Edition

  • Carl Warren
  • James M. Reeve
  • Jonathan Duchac
  • ISBN-10: 1285866304
  • ISBN-13: 9781285866307
  • 1408 Pages | Hardcover
  • Previous Editions: 2014, 2012, 2009
  • COPYRIGHT: 2016 Published
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Overview

About the Product

Close the gap between homework and exam performance with Warren/Reeve/Duchac's FINANCIAL AND MANAGERIAL ACCOUNTING 13E and CengageNOWv2! Market-leading 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 FINANCIAL AND MANAGERIAL ACCOUNTING 13e and CengageNOWv2 help 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 FINANCIAL AND MANAGERIAL 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 FINANCIAL AND MANAGERIAL 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

  • Activation Exercises in CengageNOWv2: These author-written Activation Exercises focus on helping students develop a better understanding of (1) key terms and definitions, (2) the economics of business transactions, (3) how these transactions are recorded in the accounting system, and where relevant, (4) how these transactions are ultimately reflected in the financial statements. The Activation Exercise interactive structure builds the critical thinking skills that are necessary for students to succeed and can be used as an introduction to topics or for review and assessment. Activation Exercises are assignable/gradable in CengageNOWv2.

  • Blueprint Problems in CengageNOWv2: Blueprint Problems are teaching problems that walk students through a single accounting topic. These problems cover the primary learning objectives and are designed to help students understand foundational content and the associated building blocks versus memorizing the formulas or journal entries. Blueprint Problems are assignable/gradable in CengageNOWv2.

  • Blueprint Connections in CengageNOWv2: Blueprint Connections are scenario-based teaching problems that solidify concepts and demonstrate their interrelationships, as well as promote critical thinking. Blueprint Connections combine multiple topics, allowing students to explore a larger concept more fully, and strengthen analytical skills. Blueprint Connections are assignable/gradable in CengageNOWv2.

  • Video: Animated Activities in CengageNOWv2: Animated Activities are engaging animated scenarios that visually guide students through selected core topics in introductory accounting. Each activity uses a realistic company example to illustrate how the concepts relate to the everyday activities of a business. These activities include multiple-choice questions that gauge student understanding of the overarching chapter concepts. Animated Activities are assignable/gradable in CengageNOWv2 and available for self-study and review.

  • EXCEL "Try It" TUTORIALS in CengageNOWv2: Located in the Study Tools Tab in CengageNOWv2, these activities provide students with basic tutorials on how to use Excel to solve accounting problems. Students practice accounting and manipulate spreadsheets using basic Excel® formulas in a simple step-by-step format. The tutorials reinforce the accounting concepts and help build students' Excel competency.

Reviews

"This [Blank Sheet of Paper Experience in CNOWv2] will minimize students' complaints about how the exam looks different from the homework format."
— Rama Ramamurthy, Georgetown University

About the Author

Carl Warren

Dr. Carl S. Warren is professor emeritus of accounting at the University of Georgia, Athens. Dr. Warren has taught classes at the University of Georgia, University of Iowa, Michigan State University and University of Chicago. He has focused his teaching efforts on principles of accounting and auditing. Dr. Warren received his Ph.D. from Michigan State University and his B.B.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 has served on numerous committees of the American Accounting Association, the American Institute of Certified Public Accountants and the Institute of Internal Auditors. He also has consulted with numerous companies and public accounting firms. His outside interests include handball, golf, skiing, backpacking and fly-fishing.

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. Sarbanes-Oxley, Internal Control, and Cash.
8. Receivables.
9. Fixed Assets and Intangible Assets.
10. Current Liabilities and Payroll.
11. Corporations: Organization, Stock Transactions, and Dividends.
12. Long-Term Liabilities: Bonds and Notes.
13. Investments and Fair Value Accounting.
14. Statement of Cash Flows.
15. Financial Statement Analysis.
16. Managerial Accounting Concepts and Principles.
17. Job Order Costing.
18. Process Costing Systems.
19. Cost Behavior and Cost-Volume-Profit Analysis.
20. Variable Costing for Management Analysis.
21. Budgeting.
22. Performance Evaluation Using Variances from Standard Costs.
23. Performance Evaluation for Decentralized Operations.
24. Differential Analysis and Product Pricing.
25. Capital Investment Analysis.
26. Cost Allocation and Activity-Based Costing.
27. Lean Principles, Lean Accounting, and Activity Analysis.
Appendix A: Interest Tables.
Appendix B: Nike Inc., Form 10-K For the Fiscal Year Ended May 31, 2013.
Appendix C: International Financial Reporting Standards.
Appendix D: Reversing Entries.
Appendix E: Revenue Recognition Update.
Glossary.
Index.

New to this edition

  • Content Updates: In addition to the many new digital assets created for this edition, the textbook content itself has also been revised. The most significant changes for this edition involve the inclusion of the new revenue recognition standard and a greater emphasis on service companies in the managerial accounting chapters.
  • CengageNOWv2: 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.
  • Dynamic Exhibits in CengageNOWv2: NEW Dynamic Exhibits allow students to change the variables in a scenario and see how a change ripples through the accounting system. Dynamic Exhibits allow students to see connections and relationships like never before! Identified by an icon in the text, Dynamic Exhibits are embedded within the MindTap eReader in CengageNOWv2. They are assignable/gradable in CengageNOWv2 and available for self-study and review.
  • Video: ConceptClips in CengageNOWv2: NEW ConceptClips address the challenge of understanding the "language of business" that students often face when first introduced to the subject matter. These animations provide students with a memorable auditory and visual representation of the important concepts in each chapter. ConceptClips are embedded throughout the MindTap eReader in CengageNOWv2. They are assignable/gradable in CengageNOWv2 and available for self-study and review.

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 1-15  (ISBN-10: 1285868838 | ISBN-13: 9781285868837)

Author-written and carefully verified multiple times to ensure accuracy and consistency with the text, the Solutions Manual contains answers to the Discussion Questions, Practice Exercises, Exercises, Problems (Series A and Series B), and Cases 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. Also available on the password –protected instructor website.

Solutions Manual, Volume 2, Chapters 16-27  (ISBN-10: 1285869575 | ISBN-13: 9781285869575)

Author-written and carefully verified multiple times to ensure accuracy and consistency with the text, the Solutions Manual contains answers to the Discussion Questions, Practice Exercises, Exercises, Problems (Series A and Series B), and Cases 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. Also available on the password –protected instructor website.

Companion Website  (ISBN-10: 1285873238 | ISBN-13: 9781285873237)

This robust companion website provides immediate access to the following rich array of teaching and learning resources: This robust companion website provides immediate access to a rich array of teaching and learning resources– including the Instructor's Manual, Solutions 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: 1305279689 | ISBN-13: 9781305279681)

Master the procedures and concepts of accounting and earn the grade you want in your accounting course with the rich array of learning resources at the companion website. Designed specifically for your accounting needs, this website features student PowerPoint slides, Excel Templates, learning games, and flashcards.

Working Papers, Volume 1, Chapters 1-15  (ISBN-10: 1285869583 | ISBN-13: 9781285869582)

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

Working Papers, Volume 2, Chapters 16-27  (ISBN-10: 1285869591 | ISBN-13: 9781285869599)

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 term (12 months) Printed Access Card  (ISBN-10: 1305581458 | ISBN-13: 9781305581456)

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.

Chic Events by Jada Practice Set with Cengage Learning General Ledger Software, 2 term (12 months) Printed Access Card  (ISBN-10: 1305581555 | ISBN-13: 9781305581555)

This practice set includes payroll transactions and purchases and sales for a merchandising business operated as a proprietorship. It includes business documents for a company that plans weddings, anniversaries, birthday parties, and corporate events, as well as sells party supplies. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 12-15 hours.

My Place: House of Décor Practice Set with Cengage Learning General Ledger, 2 terms (12 months) Printed Access Card  (ISBN-10: 1305671597 | ISBN-13: 9781305671591)

This practice set is a service and merchandising business operated as a corporation. This set is for an interior design firm providing services to clients for the first months, and then adds a new component to the business for the last months, which is purchasing and selling antique furniture. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 15-17 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, 2 terms Instant Access for Warren//Reeve/Duchac's Financial & Managerial Accounting  (ISBN-10: 1305267842 | ISBN-13: 9781305267848)

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 Warren/Reeve/Duchac's Financial & Managerial Accounting  (ISBN-10: 1305662334 | ISBN-13: 9781305662339)

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, Volume 1, Chapters 1-15  (ISBN-10: 1285869583 | ISBN-13: 9781285869582)

You'll find the 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.

Working Papers, Volume 2, Chapters 16-27  (ISBN-10: 1285869591 | ISBN-13: 9781285869599)

You'll find the 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 term (12 months) Printed Access Card  (ISBN-10: 1305581458 | ISBN-13: 9781305581456)

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.

Chic Events by Jada Practice Set with Cengage Learning General Ledger Software, 2 term (12 months) Printed Access Card  (ISBN-10: 1305581555 | ISBN-13: 9781305581555)

This practice set includes payroll transactions and purchases and sales for a merchandising business operated as a proprietorship. It includes business documents for a company that plans weddings, anniversaries, birthday parties, and corporate events, as well as sells party supplies. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 12-15 hours.

My Place: House of Décor Practice Set with Cengage Learning General Ledger, 2 terms (12 months) Printed Access Card  (ISBN-10: 1305671597 | ISBN-13: 9781305671591)

This practice set is a service and merchandising business operated as a corporation. This set is for an interior design firm providing services to clients for the first months, and then adds a new component to the business for the last months, which is purchasing and selling antique furniture. This set can be solved manually or with the General Ledger software. The estimated time to complete this practice set is 15-17 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, 2 terms Instant Access for Warren//Reeve/Duchac's Financial & Managerial Accounting  (ISBN-10: 1305267842 | ISBN-13: 9781305267848)

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 Warren/Reeve/Duchac's Financial & Managerial Accounting  (ISBN-10: 1305662334 | ISBN-13: 9781305662339)

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.