Financial Accounting: Tools for Business Decision Making, 7th Edition
October 2012, ©2013
Students get accounting when using Kimmel Financial Accounting 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, Kimmel Financial Accounting 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 big picture of financial statements first, Paul Kimmel shows students why financial accounting is important to their everyday lives, business majors, and future careers. This best-selling financial accounting 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 Sierra Corp, an outdoor adventure company.
The automatically graded WileyPLUS problem-solving experience imitates a blank sheet of paper with type-ahead for entering account titles, so that students use recall memory when they practice or do homework online. More students get accounting when using Kimmel Financial Accounting with WileyPLUS, because they can Read It, See It, Do It – Get It.
1 Introduction to Financial Statements 2
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 228
6 Reporting and Analyzing Inventory 282
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 624
13 Financial Analysis: The Big Picture 688
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
Company Index I-1
Subject Index I-4
- A revision designed to engage today’s students with the most current examples and mobile friendly design.
- Now Available! Quantum’s intelligent adaptive learning and assessment software inspires students to achieve more and empowers instructors with real-time, actionable assessment tools to improve student learning and test performance.
- Brand new opening stories engage students and include companies students know and whose products and services they use, like Groupon, ClifBar, REI, Nike, and JetBlue
- 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 New Problem Walkthrough Videos
- Test bank brief exercises and exercises
- Continuing Cookie Chronicle
- Comprehensive Problems
- Broadening Your Perspective Problems
More students get accounting when using Kimmel Accounting with 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 introductory accounting course covering financial and managerial accounting. 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. Kimmel, Accounting 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
- Real-World Focus
- Management Decision Making (managerial chapters only)
- New Decision Making at Current Designs
- Decision-Making Across the Organization
- Managerial Analysis
- Real-World Focus
- 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 Kimmel Financial Accounting students will make better decisions by learning how to analyze and solve business problems using tools provided throughout each chapter.
- The Decision Toolkit and the Decision Toolkit Summary direct students to the tools and information they need when evaluating business issues.
- Using the Decision Toolkit asks students to apply toolkit lessons to a financial statement analysis exercise. Suggested solutions are provided.
- Accounting Across the Organization places accounting issues within the context of marketing, management, IT, and finance.
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