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Accounting Principles, 11th Edition

Accounting Principles, 11th Edition (EHEP002545) cover image


Accounting Principles 11th edition, by Weygandt, Kimmel, Kieso provides students with a clear introduction to financial accounting that is full of real world and relevant examples to students lives.  The Team for Success authors understand where students struggle in this course and have developed a learning system that illustrates the accounting cycle and key transactions, while giving them the tools to apply their learning through sample exercises throughout the chapter.  By expanding coverage of IFRS, this edition keeps students at the forefront of global issues that impact their future careers in business and accounting. 
Students get accounting when using Weygandt Accounting Principles with WileyPLUS because we make learning accounting easy and accessible for today’s different types of learners. Written in a concise, clear, and conversation way, Weygandt Accounting Principles provides just the right amount of information students need to come to class prepared, while powerful visuals and Interactive Tutorials make complex accounting concepts possible to absorb quickly.
Starting with the building blocks debits and credit of the accounting cycle through a sole proprietorship, Weygandt Accounting Principles creates a solid foundation for later success in the course and subsequent business and accounting courses. This accounting principles text is known for the most relevant and easy to understand examples, while teaching students the accounting cycle through the lens of one consistent story of Pioneer Advertising Agency.Students using WileyPLUS do real accounting, get real results. WileyPLUS is a student-centered learning and assessment online environment.

Students come to class prepared because the program is a designed to meet the needs of today’s accounting classroom with an innovative question design that facilitates effective learning of accounting concepts, skills, and procedures.

More students get accounting when using Weygandt, Accounting Principles with WileyPLUS, because they can Read It, See It, Do It – Get It.

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Table of Contents

Chapter 1 Accounting in Action 2

Feature Story: Knowing the Numbers 2

What Is Accounting? 4

Three Activities 4

Who Uses Accounting Data? 5

The Building Blocks of Accounting 7

Ethics in Financial Reporting 7

Generally Accepted Accounting Principles 8

Measurement Principles 9

Assumptions 10

The Basic Accounting Equation 12

Assets 13

Liabilities 13

Owner’s Equity 13

Using the Accounting Equation 15

Transaction Analysis 15

Summary of Transactions 20

Financial Statements 21

Income Statement 23

Owner’s Equity Statement 23

Balance Sheet 24

Statement of Cash Flows 24

APPENDIX 1A Accounting Career Opportunities 29

Public Accounting 29

Private Accounting 30

Governmental Accounting 30

Forensic Accounting 30

“Show Me the Money” 30

A Look at IFRS 48

Chapter 2 The Recording Process 52

Feature Story: Accidents Happen 52

The Account 54

Debits and Credits 54

Summary of Debit/Credit Rules 58

Steps in the Recording Process 58

The Journal 59

The Ledger 62

The Recording Process Illustrated 65

Summary Illustration of Journalizing and Posting 71

The Trial Balance 72

Limitations of a Trial Balance 73

Locating Errors 74

Use of Dollar Signs 74

A Look at IFRS 96

Chapter 3 Adjusting the Accounts 98

Feature Story: Keeping Track of Groupons 98

Timing Issues 100

Fiscal and Calendar Years 100

Accrual- vs. Cash-Basis Accounting 100

Recognizing Revenues and Expenses 100

The Basics of Adjusting Entries 102

Types of Adjusting Entries 103

Adjusting Entries for Deferrals 104

Adjusting Entries for Accruals 110

Summary of Basic Relationships 116

The Adjusted Trial Balance and Financial Statements 119

Preparing the Adjusted Trial Balance 119

Preparing Financial Statements 119

APPENDIX 3A Alternative Treatment of Prepaid

Expenses and Unearned Revenues 124

Prepaid Expenses 125

Unearned Revenues 126

Summary of Additional Adjustment Relationships 127

A Look at IFRS 157

Chapter 4 Completing the Accounting Cycle 160

Feature Story: Everyone Likes to Win 160

Using a Worksheet 162

Steps in Preparing a Worksheet 163

Preparing Financial Statements from a Worksheet 165

Preparing Adjusting Entries from a Worksheet 167

Closing the Books 167

Preparing Closing Entries 168

Posting Closing Entries 170

Preparing a Post-Closing Trial Balance 172

Summary of the Accounting Cycle 174

Reversing Entries—An Optional Step 175

Correcting Entries—An Avoidable Step 176

The Classified Balance Sheet 177

Current Assets 178

Long-Term Investments 179

Property, Plant, and Equipment 180

Intangible Assets 180

Current Liabilities 182

Long-Term Liabilities 183

Owner’s Equity 183

APPENDIX 4A Reversing Entries 188

Reversing Entries Example 188

A Look at IFRS 212

Chapter 5 Accounting for Merchandising Operations 216

Feature Story: Buy Now, Vote Later 216

Merchandising Operations 218

Operating Cycles 218

Flow of Costs 219

Recording Purchases of Merchandise 221

Freight Costs 222

Purchase Returns and Allowances 223

Purchase Discounts 224

Summary of Purchasing Transactions 225

Recording Sales of Merchandise 226

Sales Returns and Allowances 227

Sales Discounts 228

Completing the Accounting Cycle 230

Adjusting Entries 230

Closing Entries 230

Summary of Merchandising Entries 231

Forms of Financial Statements 232

Multiple-Step Income Statement 232

Single-Step Income Statement 236

Classified Balance Sheet 236

APPENDIX 5A Worksheet for a Merchandising Company—Perpetual Inventory 240

Using a Worksheet 240

APPENDIX 5B Periodic Inventory System 241

Determining Cost of Goods Sold Under a

Periodic System 242

Recording Merchandise Transactions 243

Recording Purchases of Merchandise 243

Recording Sales of Merchandise 244

Journalizing and Posting Closing Entries 245

Using a Worksheet 246

A Look at IFRS 271

Chapter 6 Inventories 274

Feature Story: “Where Is That Spare Bulldozer Blade?” 274

Classifying and Determining Inventory 276

Classifying Inventory 276

Determining Inventory Quantities 277

Inventory Costing 280

Specific Identification 281

Cost Flow Assumptions 281

Financial Statement and Tax Effects of Cost Flow Methods 286

Using Inventory Cost Flow Methods Consistently 288

Lower-of-Cost-or-Market 289

Inventory Errors 290

Income Statement Effects 290

Balance Sheet Effects 291

Statement Presentation and Analysis 292

Presentation 292

Analysis 293

APPENDIX 6A Inventory Cost Flow Methods in Perpetual Inventory Systems 297

First-In, First-Out (FIFO) 297

Last-In, First-Out (LIFO) 298

Average-Cost 298

APPENDIX 6B Estimating Inventories 300

Gross Profit Method 301

Retail Inventory Method 302

A Look at IFRS 324

Chapter 7 Accounting Information Systems 328

Feature Story: QuickBooks® Helps This Retailer Sell Guitars 328

Basic Concepts of Accounting Information Systems 330

Computerized Accounting Systems 330

Manual Accounting Systems 332

Subsidiary Ledgers 332

Subsidiary Ledger Example 333

Advantages of Subsidiary Ledgers 334

Special Journals 335

Sales Journal 336

Cash Receipts Journal 339

Purchases Journal 342

Cash Payments Journal 344

Effects of Special Journals on the General Journal 347

A Look at IFRS 371

Chapter 8 Fraud, Internal Control, and Cash 374

Feature Story: Minding the Money in Moose Jaw 374

Fraud and Internal Control 376

Fraud 376

The Sarbanes-Oxley Act 376

Internal Control 377

Principles of Internal Control Activities 378

Limitations of Internal Control 384

Cash Controls 386

Cash Receipts Controls 386

Cash Disbursements Controls 389

Petty Cash Fund 390

Control Features: Use of a Bank 394

Making Bank Deposits 394

Writing Checks 394

Bank Statements 395

Reconciling the Bank Account 397

Electronic Funds Transfer (EFT) System 401

Reporting Cash 402

Cash Equivalents 402

Restricted Cash 403

A Look at IFRS 425

Chapter 9 Accounting for Receivables 428

Feature Story: A Dose of Careful Management Keeps Receivables Healthy 428

Types of Receivables 430

Accounts Receivable 430

Recognizing Accounts Receivable 431

Valuing Accounts Receivable 432

Disposing of Accounts Receivable 438

Notes Receivable 441

Determining the Maturity Date 442

Computing Interest 443

Recognizing Notes Receivable 443

Valuing Notes Receivable 443

Disposing of Notes Receivable 444

Statement Presentation and Analysis 447

Presentation 447

Analysis 447

A Look at IFRS 468

Chapter 10 Plant Assets, Natural Resources, and Intangible Assets 470

Feature Story: How Much for a Ride to the Beach? 470

Plant Assets 472

Determining the Cost of Plant Assets 472

Depreciation 475

Expenditures During Useful Life 483

Plant Assets Disposals 484

Natural Resources 486

Depletion 487

Presentation 487

Intangible Assets 488

Accounting for Intangible Assets 489

Research and Development Costs 491

Statement Presentation and Analysis 492

Presentation 492

Analysis 493

APPENDIX 10A Exchange of Plant Assets 497

Loss Treatment 497

Gain Treatment 498

A Look at IFRS 517

Chapter 11 Current Liabilities and Payroll Accounting 522

Feature Story: Financing His Dreams 522

Current Liabilities 524

Notes Payable 524

Sales Taxes Payable 525

Unearned Revenues 526

Current Maturities of Long-Term Debt 526

Statement Presentation and Analysis 527

Contingent Liabilities 529

Recording a Contingent Liability 529

Disclosure of Contingent Liabilities 530

Payroll Accounting 532

Determining the Payroll 532

Recording the Payroll 535

Employer Payroll Taxes 539

Filing and Remitting Payroll Taxes 541

Internal Control for Payroll 542

APPENDIX 11A Additional Fringe Benefits 545

Paid Absences 545

Postretirement Benefits 546

A Look at IFRS 564

Chapter 12 Accounting for Partnerships 566

Feature Story: From Trials to the Top Ten 566

Partnership Form of Organization 568

Characteristics of Partnerships 568

Organizations with Partnership Characteristics 569

Advantages and Disadvantages of Partnerships 571

The Partnership Agreement 571

Basic Partnership Accounting 572

Forming a Partnership 572

Dividing Net Income or Net Loss 574

Partnership Financial Statements 576

Liquidation of a Partnership 578

No Capital Deficiency 579

Capital Deficiency 581

APPENDIX 12A Admission and Withdrawal of Partners 585

Admission of a Partner 585

Withdrawal of a Partner 589

Chapter 13 Corporations: Organization and Capital Stock Transactions 606

Feature Story: What’s Cooking? 606

The Corporate Form of Organization 608

Characteristics of a Corporation 608

Forming a Corporation 610

Stockholder Rights 612

Stock Issue Considerations 612

Corporate Capital 615

Accounting for Issues of Common Stock 617

Issuing Par Value Common Stock for Cash 618

Issuing No-Par Common Stock for Cash 618

Issuing Common Stock for Services or Noncash Assets 619

Accounting for Treasury Stock 620

Purchase of Treasury Stock 621

Disposal of Treasury Stock 622

Accounting for Preferred Stock 624

Dividend Preferences 625

Liquidation Preference 625

Statement Presentation 626

A Look at IFRS 644

Chapter 14 Corporations: Dividends, Retained Earnings, and Income Reporting 648

Feature Story: Owning a Piece of the Action 648

Dividends 650

Cash Dividends 650

Stock Dividends 654

Stock Splits 656

Retained Earnings 658

Retained Earnings Restrictions 658

Prior Period Adjustments 659

Retained Earnings Statement 660

Statement Presentation and Analysis 661

Presentation 661

Analysis 662

Income Statement Presentation 663

Income Statement Analysis 663

A Look at IFRS 682

Chapter 15 Long-Term Liabilities 684

Feature Story: And Then There Were Two 684

Bond Basics 686

Types of Bonds 687

Issuing Procedures 687

Determining the Market Price of a Bond 688

Accounting for Bond Issues 690

Issuing Bonds at Face Value 690

Discount or Premium on Bonds 691

Issuing Bonds at a Discount 692

Issuing Bonds at a Premium 693

Accounting for Bond Redemptions 694

Redeeming Bonds at Maturity 695

Redeeming Bonds before Maturity 695

Converting Bonds into Common Stock 695

Accounting for Other Long-Term Liabilities 696

Long-Term Notes Payable 696

Lease Liabilities 699

Statement Presentation and Analysis 700

Presentation 700

Analysis 701

APPENDIX 15A Present Value Concepts Related to Bond Pricing 705

Present Value of a Single Amount 706

Present Value of Interest Payments (Annuities) 707

Time Periods and Discounting 709

Computing the Present Value of a Bond 709

APPENDIX 15B Effective-Interest Method of Bond Amortization 711

Amortizing Bond Discount 711

Amortizing Bond Premium 713


Straight-Line Amortization 715

Amortizing Bond Discount 715

Amortizing Bond Premium 716

A Look at IFRS 735

Chapter 16 Investments 738

Feature Story: “Is There Anything Else We Can Buy?” 738

Why Corporations Invest 740

Accounting for Debt Investments 741

Recording Acquisition of Bonds 741

Recording Bond Interest 741

Recording Sale of Bonds 742

Accounting for Stock Investments 743

Holdings of Less than 20% 743

Holdings Between 20% and 50% 743

Holdings of More than 50% 743

Valuing and Reporting Investments 748

Categories of Securities 748

Balance Sheet Presentation 752

Presentation of Realized and Unrealized Gain or Loss 753

Classified Balance Sheet 754

A Look at IFRS 773

Chapter 17 Statement of Cash Flows 776

Feature Story: Got Cash? 776

The Statement of Cash Flows: Usefulness and Format 778

Usefulness of the Statement of Cash Flows 778

Classification of Cash Flows 778

Significant Noncash Activities 780

Format of the Statement of Cash Flows 780

Preparing the Statement of Cash Flows 782

Indirect and Direct Methods 782

Preparing the Statement of Cash Flows—Indirect Method 783

Step 1: Operating Activities 784

Summary of Conversion to Net Cash Provided by Operating Activities—Indirect Method 788

Step 2: Investing and Financing Activities 789

Step 3: Net Change in Cash 790

Using Cash Flows to Evaluate a Company 793

Free Cash Flow 793

APPENDIX 17A Statement of Cash Flows—Direct Method 798

Step 1: Operating Activities 799

Step 2: Investing and Financing Activities 803

Step 3: Net Change in Cash 805

APPENDIX 17B Using a Worksheet to Prepare the Statement of Cash Flows—Indirect Method 806

Preparing the Worksheet 807

A Look at IFRS 837

Chapter 18 Financial Statement Analysis 840

Feature Story: It Pays to Be Patient 840

Basics of Financial Statement Analysis 842

Need for Comparative Analysis 842

Tools of Analysis 842

Horizontal Analysis 843

Balance Sheet 844

Income Statement 844

Retained Earnings Statement 845

Vertical Analysis 846

Balance Sheet 846

Income Statement 847

Ratio Analysis 848

Liquidity Ratios 850

Profitability Ratios 853

Solvency Ratios 857

Summary of Ratios 858

Earning Power and Irregular Items 861

Discontinued Operations 861

Extraordinary Items 862

Changes in Accounting Principle 863

Comprehensive Income 864

Quality of Earnings 865

Alternative Accounting Methods 865

Pro Forma Income 865

Improper Recognition 866

A Look at IFRS 889

Chapter 19 Managerial Accounting 892

Feature Story: Just Add Water . . . and Paddle 892

Managerial Accounting Basics 894

Comparing Managerial and Financial Accounting 894

Management Functions 894

Organizational Structure 896

Business Ethics 897

Managerial Cost Concepts 899

Manufacturing Costs 899

Product versus Period Costs 901

Manufacturing Costs in Financial Statements 902

Income Statement 902

Cost of Goods Manufactured 903

Cost of Goods Manufactured Schedule 904

Balance Sheet 905

Cost Concepts—A Review 906

Product Costing for Service Industries 908

Managerial Accounting Today 909

Focus on the Value Chain 909

Balanced Scorecard 910

Corporate Social Responsibility 911

Chapter 20 Job Order Costing 938

Feature Story: She Succeeds Where Others Have Failed 938

Cost Accounting Systems 940

Job Order Cost System 940

Process Cost System 940

Job Order Cost Flow 941

Accumulating Manufacturing Costs 942

Assigning Manufacturing Costs to Work in Process 944

Manufacturing Overhead Costs 948

Assigning Costs to Finished Goods 952

Assigning Costs to Cost of Goods Sold 953

Summary of Job Order Cost Flows 954

Job Order Costing for Service Companies 955

Advantages and Disadvantages of Job Order Costing 957

Reporting Job Cost Data 958

Under- or Overapplied Manufacturing Overhead 958

Chapter 21 Process Costing 982

Feature Story: Ben & Jerry’s Tracks Its Mix-Ups 982

The Nature of Process Cost Systems 984

Uses of Process Cost Systems 984

Process Costing for Service Companies 985

Similarities and Differences Between Job Order Cost and Process Cost Systems 985

Process Cost Flow 987

Assigning Manufacturing Costs—Journal Entries 987

Equivalent Units 990

Weighted-Average Method 990

Refinements on the Weighted-Average Method 991

Production Cost Report 993

Compute the Physical Unit Flow (Step 1) 994

Compute Equivalent Units of Production (Step 2) 994

Compute Unit Production Costs (Step 3) 995

Prepare a Cost Reconciliation Schedule (Step 4) 995

Preparing the Production Cost Report 996

Costing Systems—Final Comments 998

Contemporary Developments 998

Just-in-Time Processing 998

Activity-Based Costing 1000

APPENDIX 21A Example of Traditional Costing versus Activity-Based Costing 1006

Production and Cost Data 1006

Unit Costs Under Traditional Costing 1006

Unit Costs Under ABC 1006

Comparing Unit Costs 1007

Benefits of ABC 1008

Limitations of ABC 1008

Chapter 22 Cost-Volume-Profit 1030

Feature Story: Don’t Worry—Just Get Big 1030

Cost Behavior Analysis 1032

Variable Costs 1032

Fixed Costs 1033

Relevant Range 1034

Mixed Costs 1035

Importance of Identifying Variable and Fixed Costs 1039

Cost-Volume-Profit Analysis 1040

Basic Components 1040

CVP Income Statement 1040

Break-Even Analysis 1043

Target Net Income 1047

Margin of Safety 1048

CVP and Changes in the Business Environment 1050

CVP Income Statement Revisited 1052

APPENDIX 22A Variable Costing 1055

Example Comparing Absorption Costing with Variable Costing 1055

Absorption Costing Example 1056

Variable Costing Example 1056

Rationale for Variable Costing 1058

Chapter 23 Budgetary Planning 1074

Feature Story: Was This the Next Amazon.com? Not Quite 1074

Budgeting Basics 1076

Budgeting and Accounting 1076

The Benefits of Budgeting 1076

Essentials of Effective Budgeting 1076

Length of the Budget Period 1077

The Budgeting Process 1077

Budgeting and Human Behavior 1078

Budgeting and Long-Range Planning 1079

The Master Budget 1079

Preparing the Operating Budgets 1081

Sales Budget 1081

Production Budget 1082

Direct Materials Budget 1084

Direct Labor Budget 1086

Manufacturing Overhead Budget 1087

Selling and Administrative Expense Budget 1087

Budgeted Income Statement 1089

Preparing the Financial Budgets 1090

Cash Budget 1090

Budgeted Balance Sheet 1093

Budgeting in Nonmanufacturing Companies 1095

Merchandisers 1095

Service Enterprises 1096

Not-for-Profit Organizations 1096

Chapter 24 Budgetary Control and Responsibility Accounting 1122

Feature Story: Turning Trash into Treasure 1122

Budgetary Control 1124

Static Budget Reports 1125

Examples 1125

Uses and Limitations 1126

Flexible Budgets 1126

Why Flexible Budgets? 1127

Developing the Flexible Budget 1128

Flexible Budget—A Case Study 1130

Flexible Budget Reports 1133

Responsibility Accounting 1135

Controllable versus Noncontrollable Revenues and Costs 1137

Principles of Performance Evaluation 1137

Responsibility Reporting System 1139

Types of Responsibility Centers 1142

Responsibility Accounting for Cost Centers 1143

Responsibility Accounting for Profit Centers 1143

Responsibility Accounting for Investment Centers 1145

Chapter 25 Standard Costs and Balanced Scorecard 1176

Feature Story: 80,000 Different Caffeinated Combinations 1176

The Need for Standards 1178

Distinguishing Between Standards and Budgets 1178

Why Standard Costs? 1178

Setting Standard Costs 1178

Ideal versus Normal Standards 1179

A Case Study 1180

Analyzing and Reporting Variances from Standards 1184

Direct Materials Variances 1185

Direct Labor Variances 1188

Manufacturing Overhead Variances 1190

Reporting Variances 1193

Statement Presentation of Variances 1193

Balanced Scorecard 1194

APPENDIX 25A Standard Cost Accounting System 1200

Journal Entries 1200

Ledger Accounts 1202

APPENDIX 25B A Closer Look at Overhead Variances 1203

Overhead Controllable Variance 1203

Overhead Volume Variance 1204

Chapter 26 Incremental Analysis and Capital Budgeting 1226

Feature Story: Make It or Buy It? 1226

Incremental Analysis 1228

Management’s Decision-Making Process 1228

Incremental Analysis Approach 1228

How Incremental Analysis Works 1229

Accept an Order at a Special Price 1230

Make or Buy 1232

Sell or Process Further 1234

Repair, Retain, or Replace Equipment 1235

Eliminate an Unprofitable Segment or Product 1236

Allocate Limited Resources 1239

Capital Budgeting 1240

Evaluation Process 1240

Annual Rate of Return 1241

Cash Payback 1243

Discounted Cash Flow 1245

Comparing Discounted Cash Flow Methods 1249

Appendix A Specimen Financial Statements: Apple Inc. A1

Appendix B Specimen Financial Statements: PepsiCo, Inc. B1

Appendix C Specimen Financial Statements: The Coca-Cola Company C1

Appendix D Specimen Financial Statements: Amazon.com, Inc. D1

Appendix E Specimen Financial Statements: Wal-Mart Stores, Inc. E1

Appendix F Specimen Financial Statements: Zetar plc F1

Appendix G Time Value of Money G1

Nature of Interest G1

Simple Interest G1

Compound Interest G2

Present Value Variables G3

Present Value of a Single Amount G3

Present Value of an Annuity G5

Time Periods and Discounting G7

Computing the Present Value of a Long-Term Note or Bond G7

Appendix H (available online at www.wiley.com/college/weygandt)

Using Financial Calculators H1

Present Value of a Single Sum H1

Plus and Minus H2

Compounding Periods H2

Rounding H2

Present Value of an Annuity H2

Useful Applications of the Financial Calculator H3

Auto Loan H3

Mortgage Loan Amount H3

Appendix I (available online at www.wiley.com/college/weygandt)

Standards of Ethical Conduct for Management Accountants I1

IMA Statement of Ethical Professional Practice I1

Principles I1

Standards I1

Resolution of Ethical Conflict I2

company index IN-1

subject index IN-3

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New To This Edition

  • A revision designed to engage today’s students with the most current examples and mobile friendly design 
  • Brand new opening stories engage students and include companies students know and whose products and services they use, like Groupon, Clif Bar, REI, and Sketchers
  • New Financialy Analysis and Reporting Problem based on Apple Inc. 
  • New analysis problem presents managerial accounting situations that are based on the operations of a real company called Current Designs (kayak-making company), which is introduced in Managerial Accounting chapter opener.
  • New sustainability coverage throughout the book called People, Planet, Profit and reinforced with a People Planet Profit end of chapter question
  • New research cases based on business world events give students the opportunities to critical apply their knowledge to real world business scenarios.
  • Updated Fraud, Internal Control, and Cash chapter includes use of more recent technology, such as point-of-sale terminals instead of cash registers.
  • New Problem Set B for additional practice

New in WileyPLUS

  • Additional and Updated Problem Walkthrough Videos
  • Test bank brief exercises and exercises
  • Continuing Cookie Chronicle
  • Comprehensive Problems
  • Broadening Your Perspective Problems
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The Wiley Advantage

More students get accounting when using Weygandt Accounting Principleswith WileyPLUS, because they can Read It, See It, Do It – Get It.

Read It! Real World Context

Championed by users as easy to read and providing just the right amount of information students need to come to class prepared and succeed in the two semester principles of accounting course. Real-world companies and business situations give students a glimpse into how real companies use accounting.

  • Feature Stories introduce chapter topics in fun ways using real-world companies that are engaging.
  • Issues that affect today’s business world are highlighted in the textbook.
  • Insight Boxes frame real-world company issues through international, ethical, and investor and sustainability perspectives.


See It! Content for All Learning Styles

Sometimes a picture is worth a thousand words. Weygandt, Accounting Principles conveys complex accounting ideas through powerful visuals making it possible to absorb accounting concepts quickly and see the connections between journal entries and financial statements.  In addition to a textbook consistently reviewed as very readable, over 50% of the textbook provides visual presentations and interpretations of content.

  • Equation Analysis Illustrations visually walk students through the steps of journal transactions.
  • Cash Flow Analyses visually summarize the effects of transactions on cash flows.
  • Infographics reinforce important textual concepts. Infographics were revised in the Fifth Edition.
  • Illustrations are clearly identified and often present data in a real-world format.


Do It! Know the Fundamentals

Students need to do accounting to get accounting.  Do it! exercises throughout the textbook help students practice their understanding of accounting, while market leading end-of-chapter material in the book and available in WileyPLUS gives instructors the flexibility to assign the problems that align with specific learning objectives. 

  • Clear Do it! exercises in the textbook narrative provide step-by-step applications of a concept at the precise moment you acquire the knowledge. Each Do it! in the textbook narrative includes a solution, an Action Plan, and a path of related homework exercises.
  • Comprehensive Do it!’s at the end of each chapter apply the Do it! and address multiple topics.
  • End-of-Chapter Do it! exercises provide further practice with alternate versions of the in-chapter Do It! exercises.
  • Market Leading End-of-Chapter Material – End of chapter material includes self-test questions, questions, brief exercises, exercises (Online Exercise Set B), Problem Set A &B (Online Problem Set C).
  • Comprehensive Problems – Beginning with chapter 5, Comprehensive Problems offer the perfect accounting cycle review at the end of each chapter. 
  • Continuing Cookie Chronicle Serial Problem– designed for the financial chapters, the Continuing Cookie Chronicle is a serial problem that continues through every chapter and follows the story and business events of accounting for a cookie making school. 
  • Waterways Continuing Problem –designed for the managerial accounting chapters follows the continuing story of the managerial accounting decisions made by Waterways Corporation, that provides products and services needed to irrigate parks, farms, commercial projects, and private lawns.
  • Broadening Your Perspective Section – is designed to help develop students’ analysis and critical thinking skills with these elements:
    • Financial Reporting and Analysis (financial chapters only)
      • Financial Reporting Problem: Tootsie Roll Industries
      • Comparative Analysis Problem: Tootsie Roll vs. Hershey
      • Research Case
      • Interpreting Financial Statements
    • Management Decision Making (managerial chapters only)
      • New Decision Making at Current Designs
      • Decision-Making Across the Organization
      • Managerial Analysis
    • Critical Thinking
      • Communication Activity
      • Ethics Cases
      • All About You
      • FASB Codification Activity (financial chapters only)
      • New Considering People, Planet, and Profit
      • Considering Your Costs and Benefits.
    • A Look at IFRS (financial chapters only)
      • Key Points
      • Looking Into the Future
      • IFRS Practice
      • IFRS Concepts and Application
      • International Financial Statement Analysis

Get It! Tools for Decision Making

As an employee, manager, or even a director of students’ personal finances, with Weygandt, Accounting Principles students will make better decisions by learning how to analyze and solve business problems using tools provided throughout each chapter.

  • Broadening Your Perspective questions help you pull together concepts from a particular chapter and apply them to real-world business situations. Critical thinking, communication, ethics, and other questions are included in this section at the end of each textbook chapter.
  • Continuing Cookie Chronicle, Waterways Continuing Problem, and Comprehensive Problems pull together concepts from multiple chapters and provide a macro perspective of accounting in action.
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Instructors Resources
Wiley Instructor Companion Site
Instructor Companion Site
Test Bank
Allow instructors to tailor exams according to study objectives and learning outcomes. Achievement tests, comprehensive examinations, and a final exam are included.
Computerized Test Bank
Allow instructors to tailor exams according to study objectives and learning outcomes. Achievement tests, comprehensive examinations, and a final exam are included
Instructor’s Manual
Included in each chapter are lecture outlines with teaching tips, chapter reviews, illustrations, and review quizzes
Powerpoint Presentations
The new PowerPoint™ presentations contain a combination of key concepts, images, and problems from the textbook
Excel Workbook and Template Solutions
Allow students to complete select end-of-chapter exercises and problems identified by a spreadsheet icon in the margin of the textbook
Checklist of Key Figures
Reference tool students can use to confirm the are on the right track when working longer problems
Sample Syllabi
Do real accounting, get real results. WileyPLUS student-centered online environment for effective teaching and learning is designed to meet the needs of today’s accounting classroom with an innovative question design that facilitates effective learning of accounting concepts, skills, and procedures.
Accounting Weekly Updates
Keep you and your students updated and informed on the very latest in business news stories. Each week you will find links to 3-5 new articles, video clips, business news stories, and so much more along with discussion questions
Wiley Managerial Accounting Video Series:
Engage students with 5-6 minute videos that introduce important managerial topics
Social Media
Wiley Accounting is on Facebook and Twitter: Join our communities and stay current with accounting and teaching best practices, learn about free CPE online events, and connect with colleagues from around the world. www.facebook.com/wileyaccounting www.twitter.com/wileyaccounting
Available Materials
by Jerry J. Weygandt
January 2013, ©2013, Software
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Students Resources
Wiley Student Companion Site
Student Companion Site
Checklist of Key Figures
Reference tool students can use to confirm the are on the right track when working longer problems
PSSG Volume II to accompany Accounting Principles, 11th edition
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by Jerry J. Weygandt
February 2013, ©2013, Paperback
by Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
November 2012, ©2013, Paperback
by Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
February 2013, ©2013, Paperback
by Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
January 2013, ©2013, Paperback
by Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
February 2013, ©2013, Paperback
by Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
February 2013, ©2013, Paperback
by Jerry J. Weygandt
January 2013, ©2013, Paperback
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General Ledger Software to accompany Accounting Principles, 11e
ISBN : 978-1-118-34210-7
January 2013, ©2013
$43.95   BUY

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Accounting Principles, 11th Edition
ISBN : 978-1-118-56089-1
1272 pages
January 2013, ©2013
$103.50   BUY

Accounting Principles, 11th Edition Binder Ready Version
ISBN : 978-1-118-18089-1
1368 pages
January 2013, ©2013
$219.95   BUY

Paperback Volume 1 of Accounting Principles Chapters 1-12, 11th Edition
ISBN : 978-1-118-34206-0
664 pages
January 2013, ©2013
$224.95   BUY

Accounting Principles, Volume 2: Chapters 13 - 26, 11th Edition
ISBN : 978-1-118-34207-7
728 pages
January 2013, ©2013
$231.95   BUY

Principles of Financial Accounting: Chapters 1-18, 11th Edition
ISBN : 978-1-118-34208-4
952 pages
January 2013, ©2013
$240.95   BUY

Accounting Principles, 11th Edition
ISBN : 978-1-118-13003-2
1344 pages
January 2013, ©2013
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