Nelson Higher Education

Higher Education

Corporate Financial Accounting, 12th Edition

  • Carl Warren
  • James M. Reeve
  • Jonathan Duchac
  • ISBN-10: 1133952410
  • ISBN-13: 9781133952411
  • 864 Pages | Hardcover
  • Previous Editions: 2012, 2009, 2007
  • COPYRIGHT: 2014 Published
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Overview

About the Product

Activate Learning with Warren/Reeve/Duchac's, CORPORATE FINANCIAL ACCOUNTING! 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 offers students clear guidance to complete homework with an efficient presentation for today's learner. The high impact writing style and streamlined design makes important information accessible, with a focus on providing the best and most complete examples. The Complete Learning System in CORPORATE FINANCIAL ACCOUNTING and CengageNOW 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 to this edition, the authors created innovative, unique content that is focused on unique student and instructor needs before and after lecture – and the type of activities best-suited to each point in learning. New content like the author-written Activation Exercises, helps students come to class more prepared, and enables them to more easily connect the dots, enhance their depth of knowledge and have better tools for remediation and review. The end goal of Warren/Reeve/Duchac's text and technology learning system is to Activate Learning & create more empowered & prepared students—ready to take on the rest of their educational and career goals.

Features

  • One-line features: Example Exercises: Based on extensive market feedback, Example Exercises were developed to reinforce concepts and procedures in a bold, new way. Like a teacher in the classroom, students follow the authors' example to see how to complete accounting applications in the textbook. Each Example Exercise references the parallel Practice Exercises in the homework so students get the accounting experience they need. Animated Example Exercises are also tied to the Practice Exercises within CengageNOW to provide students with an easily accessible audiovisual walk-through of how to solve these questions.

  • Example Exercises: Based on extensive market feedback, Example Exercises were developed to reinforce concepts and procedures in a bold, new way. Like a teacher in the classroom, students follow the authors' example to see how to complete accounting applications in the textbook. Each Example Exercise references the parallel Practice Exercises in the homework so students get the accounting experience they need. Animated Example Exercises are also tied to the Practice Exercises within CengageNOW to provide students with an easily accessible audiovisual walk-through of how to solve these questions.

  • Complete Learning System: Students can easily locate the information they need to efficiently master course concepts using the "Guiding Principles System." At the beginning of every chapter, students have a map of the chapter objectives, related topics and outcomes, Example Exercises in the chapter, and corresponding Practice Exercises in the homework. The "At a Glance" chapter summary completes this proven system that leads students quickly to the information they need.

  • Blueprint Problems: Blueprint Problems are teaching problems that cover the primary learning objectives and help students understand the fundamental accounting concepts and their associated building blocks—not just memorize the formulas or journal entries required for a single concept. Whether used as group or in-class exercises, homework, or review before an exam, these comprehensive problems tie together concepts and support reinforcement of core accounting fundamentals.

  • Market Leading End-of-Chapter Material: Students need to practice accounting so that they can understand and use it. To give students the greatest possible advantage in the real world, CORPORATE FINANCIAL ACCOUNTING, 12E, goes beyond presenting theory and procedure with comprehensive, time-tested end-of-chapter material.

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.
Appendix A Interest Tables.
Appendix B Nike, Inc. 2011 Annual Report.
Appendix C International Financial Reporting Standards.
Appendix D Reversing Entries.
Appendix E Special Journals and Subsidiary Ledgers.
Glossary.
Subject Index.
Company Index.

New to this edition

  • REORGANIZATION OF CHAPTER 5: "Accounting for Merchandising Businesses" (Chapter 5) was re-organized to start with purchases and sales transactions and then end with the creation of the multi-step income statement. This model more intuitively follows a similar structure as the cycle chapters (starting with the entries and moving to the financial statements).
  • EXPANDED INVENTORY COVERAGE: "Inventories" (Chapter 6) now includes coverage of the weighted average cost method under a perpetual inventory system. The trend to cover perpetual inventory (vs. periodic) and the wide use of popular accounting software packages that use weighted average cost-perpetual (point-of-sale) led to this change. All exhibits and illustrations pertaining to the weighted average cost method have been updated.
  • REFRESHED REAL-WORLD INTEGRATION: As with every new edition, the authors have ensured that new real-world companies have been added, real-world data has been updated, and names and values of end-of-chapter material have been changed.
  • NEW ACTIVATION EXERCISES: These author-written Activation Exercises in CengageNOW and Aplia are an extension of the Complete Learning System and 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. 100% consistent with the book's approach and terminology, the Activation Exercises' 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. Use them as a means of reinforcing chapter concepts before or after a lecture. A student that has completed an Activation Exercise is a student on the way towards building mastery.
  • NEW ANIMATED ACTIVITIES: Animated Activities in CengageNOW and Aplia are the perfect pre-lecture assignment to expose students to concepts before class! These illustrations visually guide students through selected core topics using a realistic company example to illustrate how the concepts relate to the everyday activities of a business. Animated Activities are assignable or 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

Working Papers, Volume 1  (ISBN-10: 1285085396 | ISBN-13: 9781285085395)

The traditional working papers include problem-specific forms for preparing solutions for Exercises, A& B Problems, the Continuing Problem, and the Comprehensive problems from the textbook. These forms, with preprinted headings, provide a structure for the problems, which helps students get started and saves time. New to this edition: All forms have been updated to coincide with core text changes.

Instructor's Resource CD-ROM  (ISBN-10: 1285179625 | ISBN-13: 9781285179629)

The IRCD includes the PowerPoint presentations, Instructor's Manual, Solutions Manual, Test Bank, ExamView, General Ledger Inspector, and Excel Template Solutions. New to this edition: All supplements on the IRCD have been updated to coincide with core text changes.

Solutions Manual, Volume 1  (ISBN-10: 128508537X | ISBN-13: 9781285085371)

Clear solutions to all end-of-chapter problems. Includes answers to discussion questions, Practice Exercises, Exercises, Problem Series A and B, Comprehensive Problems, Continuing Problems, and Cases and Projects. New to this edition: All solutions have been updated to match new names and values from the core text. Solutions have gone through a rigorous process of verification.

K&A Inspector Software for Practice Sets  (ISBN-10: 1285758366 | ISBN-13: 9781285758367)

This software will help you grade student work for each of the practice sets.

Study Guide, Volume 1  (ISBN-10: 1285085418 | ISBN-13: 9781285085418)

This author-written guide provides students quiz and test hints, matching questions, fill-in-the-blank questions (parts A & B), multiple-choice questions, true/false questions, exercises, and problems for each chapter. New to this edition: All time-sensitive material has been updated for currency. Exercises and problems have been edited with new names and values.

Spreadsheet Success in Accounting  (ISBN-10: 1285196341 | ISBN-13: 9781285196343)

The Spreadsheet Success booklet helps students use Excel to learn and reinforce accounting concepts through 4 steps: (1) Read the accounting concept; (2) Follow along as the Spreadsheet Success Example shows how to solve the accounting concept; (3) Practice using the TryIt! Tutorial; (4) Apply knowledge by completing the Spreadsheet Success Special Activity. The booklet contains Spreadsheet Success Examples and Special Activity problems. The printed access card gives students access to a website that has the TryIt! Tutorials and data files needed for the Spreadsheet Success Special Activities.

General Ledger Software CD-ROM  (ISBN-10: 1285462564 | ISBN-13: 9781285462561)

Prepared by Dale Klooster and Warren Allen, this best-selling, educational, general ledger package introduces students to the world of computerized accounting through a more intuitive, user-friendly system than the commercial software they'll use in the future. In addition, students have access to general ledger files with information based on problems from the textbook and practice sets. This context allows them to see the difference between manual and computerized accounting systems firsthand and includes a problem checker. Problems that can be used with Klooster/Allen are highlighted by an icon.

Lawn Ranger Landscaping Practice Set with GL Software  (ISBN-10: 1285180992 | ISBN-13: 9781285180991)

This practice set covers the complete accounting cycle for a small service business operated as a sole proprietorship. Students follow a narrative of transactions to make general journal entries. The estimated time to complete this practice set is 15-16 hours.

Lightning Fitness Equipment Practice Set with GL Software  (ISBN-10: 1285178947 | ISBN-13: 9781285178943)

This practice set is for 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. The business is a sole proprietorship. The estimated time to complete this practice set is 14-15 hours.

Galas by Jacki Practice Set with GL Software  (ISBN-10: 1285178882 | ISBN-13: 9781285178882)

This practice set is for a company that plans wedding, anniversary and birthday parties, and corporate events. The company also sells party supplies. It includes payroll transactions and purchases and sales with discounts for a merchandising business operated as a proprietorship. The estimated time to complete this practice set is 12-15 hours.

My Place, House of Décor Practice Set  (ISBN-10: 1285180976 | ISBN-13: 9781285180977)

This practice 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. It is a service/ merchandise business operated as a corporation. The estimated time to complete this practice set is 15-17 hours.

JP's Tech Solutions Practice Set with General Ledger Software  (ISBN-10: 1285178858 | ISBN-13: 9781285178851)
Hydro Paddle Boards Practice Set with GL Software  (ISBN-10: 1285178777 | ISBN-13: 9781285178776)

This practice set is for a manufacturing corporation that 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. The estimated time to complete this practice set is 13-15 hours.

Spreadsheet Success in Accounting, 2 terms (12 months) Instant Access  (ISBN-10: 1285196392 | ISBN-13: 9781285196398)

Student Supplements

Working Papers, Volume 1  (ISBN-10: 1285085396 | ISBN-13: 9781285085395)

The traditional working papers include problem-specific forms for preparing solutions for Exercises, A& B Problems, the Continuing Problem, and the Comprehensive problems from the textbook. These forms, with preprinted headings, provide a structure for the problems, which helps you get started and saves time. New to this edition: All forms have been updated to coincide with core text changes.

LMS Integrated for Aplia, 1 term Instant Access  (ISBN-10: 1285752945 | ISBN-13: 9781285752945)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

Study Guide, Volume 1  (ISBN-10: 1285085418 | ISBN-13: 9781285085418)

This author-written guide provides students quiz and test hints, matching questions, fill-in-the-blank questions (parts A & B), multiple-choice questions, true/false questions, exercises, and problems for each chapter. New to this edition: All time-sensitive material has been updated for currency. Exercises and problems have been edited with new names and values.

Spreadsheet Success in Accounting  (ISBN-10: 1285196341 | ISBN-13: 9781285196343)

The Spreadsheet Success booklet helps students use Excel to learn and reinforce accounting concepts through 4 steps: (1) Read the accounting concept; (2) Follow along as the Spreadsheet Success Example shows how to solve the accounting concept; (3) Practice using the TryIt! Tutorial; (4) Apply knowledge by completing the Spreadsheet Success Special Activity. The booklet contains Spreadsheet Success Examples and Special Activity problems. The printed access card gives students access to a website that has the TryIt! Tutorials and data files needed for the Spreadsheet Success Special Activities.

General Ledger Software CD-ROM  (ISBN-10: 1285462564 | ISBN-13: 9781285462561)

Prepared by Dale Klooster and Warren Allen, this best-selling, educational, general ledger package introduces students to the world of computerized accounting through a more intuitive, user-friendly system than the commercial software they'll use in the future. In addition, students have access to general ledger files with information based on problems from the textbook and practice sets. This context allows them to see the difference between manual and computerized accounting systems firsthand and includes a problem checker. Problems that can be used with Klooster/Allen are highlighted by an icon.

Lawn Ranger Landscaping Practice Set with GL Software  (ISBN-10: 1285180992 | ISBN-13: 9781285180991)

This practice set covers the complete accounting cycle for a small service business operated as a sole proprietorship. Students follow a narrative of transactions to make general journal entries. The estimated time to complete this practice set is 15-16 hours.

Lightning Fitness Equipment Practice Set with GL Software  (ISBN-10: 1285178947 | ISBN-13: 9781285178943)

This practice set is for 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. The business is a sole proprietorship. The estimated time to complete this practice set is 14-15 hours.

Galas by Jacki Practice Set with GL Software  (ISBN-10: 1285178882 | ISBN-13: 9781285178882)

This practice set is for a company that plans wedding, anniversary and birthday parties, and corporate events. The company also sells party supplies. It includes payroll transactions and purchases and sales with discounts for a merchandising business operated as a proprietorship. The estimated time to complete this practice set is 12-15 hours.

My Place, House of Décor Practice Set  (ISBN-10: 1285180976 | ISBN-13: 9781285180977)

This practice 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. It is a service/ merchandise business operated as a corporation. The estimated time to complete this practice set is 15-17 hours.

JP's Tech Solutions Practice Set with General Ledger Software  (ISBN-10: 1285178858 | ISBN-13: 9781285178851)
Hydro Paddle Boards Practice Set with GL Software  (ISBN-10: 1285178777 | ISBN-13: 9781285178776)

This practice set is for a manufacturing corporation that 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. The estimated time to complete this practice set is 13-15 hours.

Aplia, 1 term Instant Access  (ISBN-10: 128516363X | ISBN-13: 9781285163635)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for CORPORATE FINANCIAL ACCOUNTING, 12th Edition. Aplia has already helped more than a million students succeed in college classes.

Spreadsheet Success in Accounting, 2 terms (12 months) Instant Access  (ISBN-10: 1285196392 | ISBN-13: 9781285196398)