Accounting: Tools for Business Decision Makers, 4th Edition
July 2011, ©2011
Kimmel Accounting 4e, helps students hit the road with a practical set of tools, and the confidence they need to use those tools effectively with its conceptual, decision-making approach. The authors have taken a new "macro- to micro-" approach to the Introductory course by starting with a discussion of real financial statements first, in order to establish how it communicates the financing, investing, and operating activities of a business to users of accounting information. They motivate and engage students by grounding the discussion in the real world, showing them the relevance of the topics covered to their future career.
2 A Further Look at Financial Statements 46
3 The Accounting Information System 100
4 Accrual Accounting Concepts 162
5 Merchandising Operations and the Multiple-Step Income Statement 226
6 Reporting and Analyzing Inventory 280
7 Fraud, Internal Control, and Cash 334
8 Reporting and Analyzing Receivables 396
9 Reporting and Analyzing Long-Lived Assets 446
10 Reporting and Analyzing Liabilities 504
11 Reporting and Analyzing Stockholders’ Equity 568
12 Statement of Cash Flows 622
13 Financial Analysis: The Big Picture 684
14 Managerial Accounting 746
15 Job Order Costing 796
16 Process Costing 838
17 Activity-Based Costing 888
18 Cost-Volume-Profit 938
19 Cost-Volume-Profit Analysis: Additional Issues 976
20 Budgetary Planning 1030
21 Budgetary Control and Responsibility Accounting 1078
22 Standard Costs and Balanced Scorecard 1136
23 Incremental Analysis and Capital Budgeting 1186
A Specimen Financial Statements: Tootsie Roll Industries, Inc. A-1
B Specimen Financial Statements: The Hershey Company B-1
C Specimen Financial Statements: Zetar plc C-1
D Time Value of Money D-1
E Reporting and Analyzing Investments E-1
F Payroll Accounting F-1
*G Subsidiary Ledgers and Special Journals G-1
*H Accounting for Partnerships H-1
*I Accounting for Sole Proprietorships I-1
*Available at the book’s companion website, www.wiley.com/college/kimmel.
- A Look at IFRS - Overview and Application: New section at end of each chapter addresses 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).
- 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
- Accounting Cycle Chapter Unification/Updates/Clarification:
- A unification of the Chapters 1-4 accounting cycle by focusing on the new story of Sierra Corporation, an outdoor adventure corporation. Text and new illustrations further the story of Chapters 1-4.
- Accounting Information System (Chapter 3): A new, more graphical and user-friendly analysis of the Accounting Information System transactions in Chapter 3 is provided. Basic analysis and Equation Analysis discussions are more clearly presented through new illustrations.
- Accrual Accounting Concepts (Chapter 4): New illustrations break textual discussing into clearer graphical explanations
- Complete Continuing Cookie Chronicle problem statements provided for Chapters 1-4 in the textbook.
- Updated End-of-Chapter Material:
- Data/Numbers in nearly all Brief Exercises, Exercises, and Problem Set A and B were updated with NEW numbers, names, and dates.
- New Bloom's Taxonomy codes added to EOC Exercises and Problems;
- New FASB Codification Activity
- Chart of Accounts: Number of accounts used in textbook , supplements, and WileyPLUS drastically reduced, titles used consistently throughout. We now have a common chart of accounts.
- 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.
- Terminology: Reflect latest terminology changes, that is:
- Expense recognition principle (previously matching)
- Periodicity assumption (previously time period)
- Fair value replaces market value in many instances
- Decision Tool Kit - summarizes the key features of the decision tools (accounting tools necessary for analyzing and solving the business problems discussed in that chapter) and reinforces their purpose.
- Keeping an Eye on Cash sections highlight differences between accrual accounting and cash accounting while increasing students' understanding of the statement of cash flows.
- Accounting Across the Organization places accounting issues within the context of marketing, management, IT, and finance.
- "Do It" Problems - increased number of Do It problems throughout the chapter. Students benefit from more examples of worked out problems.
- Comprehensive Do It Problem with Action Plan - gives students an opportunity to see a detailed solution to a representative problem before they do their homework. Coincides with the Do It problems within the chapter.
- International Notes - helps students understand the impact of International trends, topics, etc on Financial Accounting. Discusses the convergence between US GAAP and International GAAP.
- Ethics Notes - discussion of ethics in accounting as it pertains to a particular topic.
- All About You - Introduces challenging Accounting concepts with examples that are familiar to the student from their own personal lives. Select chapters and online
- Accounting Equation Analysis - Reinforces the understanding of the impact of an accounting transaction on the journal entries.
- Insight Boxes (Investor Insight, International Insight, Ethics Insight) - Give students glimpses into how real companies use accounting in practice.
- Continuing Cookie Chronicle Online Practice Set - follows the continuing saga of accounting for a small service and manufacturing business for each financial chapter.
- Waterways Continuing Online Practice Set - follows the continuing story of the managerial accounting decisions made by Waterways Corporation.
- Comprehensive Problem - combines problems across chapters.
- The Navigator - guides students through each chapter by pulling all the learning tools together into a learning system.
- EOC (end of chapter) Material - self study questions, questions, brief exercises, 2 sets of exercises (one online), 3 sets of problems (one online).
- Broadening Your Perspective - material at the end of each chapter which allows instructors to broaden the learning experience by bringing in more real-world decision making, analysis and critical thinking activities.
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