Textbook

Intermediate Accounting: Principles and Analysis, 2nd Edition

Terry D. Warfield, Jerry J. Weygandt, Donald E. Kieso

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Intermediate Accounting: Principles and Analysis, Second Edition, provides a solid foundation for instructors whose goal is to help accounting students to build an understanding of the principles, concepts, and methods of financial accounting and reporting. Warfield, 2/e incorporates a more conceptual focus, new pedagogy within each chapter, and redesigned end of chapter material to better enhance the connections between content and homework assignments.

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Table of Contents

Chapter 1.  Financial Accounting and Accounting Standards.

Chapter 2.  Conceptual Framework Underlying Financial Accounting.

Chapter 3.  The Accounting Information System.

Chapter 4.  Balance Sheet.

Chapter 5.  Income Statement.

Chapter 6.  Statement of Cash Flows.

Chapter 7.  Revenue Recognition.

Chapter 8.  Cash and Receivables.

Chapter 9.  Accounting for Inventories.

Chapter 10.  Accounting for Property, Plant, and Equipment.

Chapter 11.  Intangible Assets.

Chapter 12.  Accounting for Liabilities.

Chapter 13.  Stockholders’ Equity.

Chapter 14.  Investments.

Chapter 15.  Accounting for Income Taxes.

Chapter 16.  Accounting for Compensation.

Chapter 17.  Accounting for Leases.

Chapter 18. Other Reporting Issues.

Appendix A Accounting and the Time Value of Money.

Online at Companion Website:

Appendix A - Accounting and the Time Value of Money.

Appendix B - Reporting Cash Flows.

Appendix C - Using Financial Calculators.

Appendix D - Retail Inventory Method.

Appendix E - Accounting for Natural Resources.

Appendix F - Accounting for Computer Software Costs.

Appendix G - Accounting for Troubled Debt.

Appendix H - Accounting for Derivative Instruments.

Appendix I -   Error Analysis.

Author Information

Terry D. Warfield, Ph.D. is associate professor of accounting at the University of Wisconsin-Madison. He received a B.S. and M.B.A from Indiana University and a Ph.D. in accounting from the University of Iowa. Professor Warfield's area of expertise is financial reporting, and prior to his academic career, he worked for five years in the banking industry. He served as the Academic Accounting Fellow in the Office of the Chief Accountant at the U.S. Securities and Exchange commission in Washington, D.C. from 1995-1996). Professor Warfield's primary research interests concern financial accounting standards and disclosure policies. He has published scholarly articles in the Accounting Review, Journal of Accounting and Economics, Research in Accounting Regulation, and Accounting Horizons, and he has served on the editorial boards of the Accounting Review, Accounting Horizons, and Issues in Accenting Education. He has served as president of the Financial Accounting and Reporting Section, the Financial Accounting Standards Committee of the American Accounting Association (Chair 1995-1996), and on the AAA-FASB Research Conference Committee. Professor Warfield has received teaching awards at both the University of Iowa and the University of Wisconsin, and he was named to the teaching Academy at the University of Wisconsin in 1995. Professor Warfield has developed and published several case studies based on his research for use in accounting classes. Theses cases have been selected for the AICPA Professor-Practitioner Case Development Program and have been published in Issues in Accounting Education.

Jerry J. Weygandt, PhD, CPA, is Arthur Andersen Alumni Professor of Accounting at the University of Wisconsin-Madison. He has a Ph.D. from the Univ. of Illinois. His articles have appeared in the Accounting Review, Journal of Accounting Research, Accounting Horizons, Journal of Accountancy, and other academic and professional journals. Professor Weygandt is author of other accounting and financial reporting books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Wisconsin Society of Certified Public Accountants. He is the recipient of the Wisconsin Institute of CPAs Outstanding Educator’s Award and the Lifetime Achievement Award. In 2001 he received the American Accounting Association’s Outstanding Accounting Educator Award.

Donald E. Kieso, PhD, CPA, received his bachelor’s degree from Aurora University and his Ph.D. from the University of Illinois. He has served as chairman of the Department of Accountancy and is currently KPMG Emeritus Professor of Accountancy at Northern Illinois University. He has public accounting experience with Price Waterhouse & Co. (San Francisco and Chicago) and Arthur Andersen & Co. (Chicago) and research experience with the Research Division of the American Institute of Certified Public Accountants (NY). He has done postdoctorate work as a Visiting Scholar at the University of California at Berkeley and is a recipient of NIU’s Teaching Excellence Award and four Golden Apple teaching Awards. Professor Kieso is the author of numerous other accounting and business books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Illinois CPA Society.

New To This Edition

“What’s the Principle?”- Marginal notes that relate topics covered within each chapter back to the conceptual principles introduced in the beginning of the book.
“Try It Out” review exercises (with suggested solutions), following key text sections, engage students in active learning as they work their way through a chapter.
Convergence Corner - describes the convergence progress between U.S. GAAP and international accounting standards; and will allow students to appreciate the converging nature of accounting standards.
Accounting, Analysis, and Principles Review - summarizes the three important elements of each chapter and helps student to focus on the key accounting concepts introduced.
“Accounting in Action”- groups problems that require students to apply their accounting knowledge while expanding competencies in analysis and decision making contexts.
NEW “Financial Accounting and Reporting” Professional Research problem, using the Financial Accounting and Research System (FARS) database has been added to the Accounting in Action section of the end-of-chapter material.

Hallmark Features

Chapter Opening Vignettes-updated and added to provide real-world context and increase motivation.
“What Do the Numbers Mean?” boxes in every chapter introduce accounting issues at real companies; and now include “Beyond the Numbers” critical thinking questions, with guideline answers at the end.
Review Exercises- gives students another chance to check their understanding of chapter concepts before beginning homework assignments.
End-of-chapter Brief Exercises, Exercises, and Problems now classified by Learning Objective.
International Insight paragraphs (in margins) describe or compare the accounting practices in other countries.