Accounting Principles, Campus Cycle Practice Set, 10th Edition
July 2011, ©2011
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- A Look at IFRS: New section at end of each chapter section includes an IFRS overview, differences between GAAP and IFRS (Key Points), IFRS/GAAP convergence efforts (Looking to the Future), and IFRS Self-Test Questions (plus answers). An IFRS Application section is also included with IFRS review exercises (including an International Comparative Analysis Problem: Tootsie Roll vs Zetar (Zetar is U.K. candy company).
- Accounting Cycle Chapter Unification/Updates/Clarification:
- For many students, success in an introductory accounting course hinges on developing a sound conceptual understanding of the accounting cycle. In the past, we have received positive feedback regarding the expanded equation analysis that we have employed to introduce the recording process in Chapters 1 and 2. In the 10th edition Chapter 3 offers a new, more graphical and user-friendly analysis of Adjusting the Accounts. Basic analysis and Equation Analysis discussions are more clearly presented through new illustrations.
- Complete Continuing Cookie Chronicle problem statements provided for Chapters 1-4 in the textbook.
- Service Company Expanded Emphasis:
- New sections within each chapter discuss similarities and differences of applying managerial accounting techniques in a service rather than a manufacturing environment
- New Service Company Insight boxes apply managerial accounting concepts to real-world service company examples.
- Additional service company examples were added to the end-of-chapter content Service content is highlighted throughout the textbook with a new "Service" icon.
- Terminology: Reflect latest terminology changes required by changes to the conceptual framework:
- Expense recognition principle (previously matching)
- Periodicity assumption (previously time period)
- Fair value replaces market value in many instances
- Anatomy of a Fraud: In the 9th Edition we added the new feature "Anatomy of a Fraud" to illustrate how the lack of specific internal controls resulted in real-world frauds. In this edition, we have expanded it throughout the textbook to demonstrate the importance of internal controls to all assets and liabilities.
- Enhanced Homework Material:
- Updated with the new Pepsi-Co and The Coca-Cola Company Statements
- New FASB codification Activities now appear at the end of every chapter and offer students experience in using the system.
- Chart of Accounts: Streamlined in order to reduce possible confusion and keep students focused on concepts that really matter.