Accounting Principles, 4th Canadian Edition, Part 1
March 2007, ©2007
1. Accounting in Action
2. The Recording Process
3. Adjusting the Accounts
4. Completion of the Accounting Cycle
5. Accounting for Merchandising Operations
6. Inventory Costing
7. Internal Control and Cash
8. Accounting for Receivables
9. Long-lived Assets
10. Current Liabilities
11. Accounting Principles
12. Accounting for Partnerships
13. Corporations: Organization and Share Capital Transactions
14. Corporations: Dividends, Retained Earnings, and Income Reporting
15. Long-term Liabilities
17. The Cash Flow Statement
18. Financial Statement Analysis
Donald E. Kieso, PhD, CPA, received his bachelor’s degree from
Paul D. Kimmel, PhD, CPA, received his bachelor’s degree from the
Barbara Trenholm, MBA, FCA, is a professor of accounting at the University of New Brunswick. Her teaching and educational leadership is well-known. She is a recipient of the Leaders in Management Education Award, the Global Teaching Excellence Award, and the University of New Brunswick's Merit Award and Dr. Allan P. Stuart Award for Excellence in Teaching. Several editions of the Maclean's Guide to Canadian Universities and Colleges have cited her as one of the University of New Brunswick's most popular professors. In 2003, she was named a Teaching Fellow of the University of New Brunswick. Her experience and involvement in professional accounting education is widely recognized throughout Canada. She is a past-president of the New Brunswick Institute of Chartered Accountants and past-chair of the Canadian Institute of Chartered Accountants Academic Research Committee and Interprovincial Education Committee. She has served as a member of the Canadian Institute of Chartered Accountants Qualification Committee, International Qualifications Appraisal Board, Education Reeingineering Task Force, and the American Accounting Association's Globalization Initiatives Task Force. She has chaired and been a member of numerous other education committees at both the national and provincial levels of the profession. Professor Trenholm is a member of the boards of several organizations, including Atomic Energy of Canada and Plazacorp Retail Properties. She chairs the audit committee of both of these organizations. She is a member of the Institute of Corporate Directors and has had training in best practices for corporate governance. She is a past member of the Canadian Institute of Chartered Accountants Board of Directors and the Atlantic School of Chartered Accountancy Board of Governors. In addition to her involvement with her profession, she has an extensive record of service in leadership roles in the university and community. She has served as acting dean of the Faculty of Administration and as a member of the University Senate, in addition to chairing and serving on many university and faculty committees. She has published widely in the field of accounting standard- setting and explored various director and auditor liability issues in journals including Accounting Horizons, International Journal of Production Economics, CAMagazine, CGA Magazine, and CMA Magazine. She is also the Canadian author of the Kimmel, Weygandt, Kieso, Trenholm, Financial Accounting: Tools for Business Decision-Making, published by John Wiley & Sons Canada, Ltd.
Valerie A. Kinnear, MSc (Bus. Admin.), CA is an accounting faculty member in the Bissett School of Business, Mount Royal College, in Calgary, Alberta. Valerie has a wide range of teaching experience, including introductory, intermediate, and advanced financial accounting as well as introductory management accounting and finance courses. She has been nominated for the Distinguished Faculty Award at Mount Royal College for her teaching expertise. Valerie has served on numerous faculty and college committees and held a variety of administrative positions at Mount Royal College, including acting dean of the School of Business, acting director of Business Education and Training in the Faculty of Continuing Education and Extension, and Program Chair of the Accounting, Financial Services, Supply Chain Management, and General Business and Insurance programs, amongst others. She has also been active in the accounting profession. She participated in the Institute of Chartered Accountants of Alberta student education program in a variety of roles, including as an instructor, marker, author, and member of the Alberta Institute's Examinations Committee. Valerie has also served as a member of the Professional Services Policy Board of the Canadian Institute of Chartered Accountants, as a board member of the Canadian Accounting Academic Association, and as treasurer for many volunteer community organizations in Calgary.Valerie has a Bachelor of Social Work from the University of Calgary, a Master of Science in Business Administration from the University of British Columbia, and has professional accounting experience with Price Waterhouse & Co., Farvolden and Company Chartered Accountants, and Kinnear & Smistad Chartered Accountants.
- This edition reinforces the importance of accounting to all disciplines, emphasizing the relevance of accounting and the use of accounting information for all areas of business. This is done through a new pedagogical feature. Accounting Across the Organization places accounting issues within the context of marketing, management, IT, and finance so students can readily see the relevance of accounting.
- All boxes, Accounting Across the Organization, along with Business, International, and Ethics Insights, now each have questions to engage critical thinking skills.
- All material previously on the Navigator CD has been moved to the web. New tutorials have been prepared on key topics that students have trouble with – cash flow and bonds.
All of these changes add to the already extremely strong student-friendly nature of the text and its building-block approach. Further changes relate to the end-of-chapter material:
- In the Broadening Your Perspective section, the difficulty level of Critical Thinking section has been increased, especially in the Communication Activity.
- All new Collaborative Learning Activities reflect the latest research on group learning. They are truly group exercises and not just regular problems that can be done in a group.
The final group of changes relate to the Instructor Resources.
- The focus of our ongoing series of workshops has been on how instructors teach this course, how they prepare for classes, and assess student comprehension. In all of the workshops, the inadequacy of the current Instructor’s Manuals was confirmed. With this in mind, we are launching an all-new Instructor Resource Site. This does not contain a traditional IM divided into chapters but provides an easily searchable database of resources for instructors with all levels of experience in teaching. Similar in structure to our student resource sites, it lists the types of resources available to the left and allows instructors to access them directly or search by chapter. Resource types include games, transition notes, how to teach what’s new (e.g., new accounting standards) at a basic level, a database of news stories and real-world examples, video clips, lecture notes with blanks for students to fill in, pre-lecture quizzes, an idea exchange, and more!
- One of the key items on the site is a significantly-revised testbank that addresses comments that available testbank material does not match the level of current texts. Ours contains more problems than any other testbank and they reflect the level of the text.
The Navigator is a learning system designed to guide students through each chapter and consists of a series of checklists tied to the chapter's study aids, text features, and study skills.
- A Learning Styles Model is introduced in the preface and incorporated throughout the book to enable students with different learning approaches to better understand the material.
- Feature Stories are brief stories of real Canadian companies that relate the chapter information to the real world and discussed further throughout the chapter.
- Chapter Previews at the beginning of each chapter feature a paragraph linking the opening vignette to chapter material. A visual outline of the topics and subtopics of the chapter is also presented to provide students with a chapter roadmap.
- The text has been thoroughly reviewed by an instructor of English as a Second Language in manuscript stage to ensure that Accounting Principles provides an unprecedented level of clarity and readability to all readers.
- Stepped-out pedagogy breaks down complex topics making the material more manageable for students. Some examples of this pedagogy are:
- Concepts for Review - Concepts learned in previous chapters that are essential in order to understand the topics about to be covered are listed at the start of each chapter with pages references.
- Before You Go On -These "Review it and Do It" sections ensure that students understand what has just been covered before going further in the chapter.
- Accounting Equation Analyses appear in the margins next to key journal entries. They help your students understand the impact of accounting transactions and cash flow on the financial statements.
- Design makes strategic use of colour, photographs, and illustrations to enhance learning and features Infographics that provide visual anchors to help students recall and apply accounting concepts to the real world.