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Intermediate Accounting Update, International Edition 11e

ISBN-13: 9780538468053 / ISBN-10: 053846805X

John D. Bazley, University of Denver
Loren A. Nikolai, University of Missouri at Columbia
Jefferson P. Jones, Auburn University
Published by Cengage Learning, ©2010
Available Now

INTERMEDIATE ACCOUNTING, 11e, International Edition provides the perfect combination of professional language and vibrant pedagogy to facilitate the transition from financial principles to the larger environment of financial reporting. To prepare students for professional accounting careers, the text’s comprehensive coverage of GAAP and discussion of IFRS is clearly and consistently presented throughout the text. This coverage complements the authors’ insight, which is in both the in-text commentary and the fully coordinated, author-written end-of-chapter material.


  • Chapter openers: These entertaining and informative vignettes briefly introduce concepts in the upcoming chapter through real aspects of the professional accounting world. In addition, these openers include references to industry journals and newspapers for further reading.
  • Enhanced chapter structure: Through the C-A-R framework, the eleventh edition provides a blended approach that integrates coverage of the conceptual framework of accounting, financial analysis or real-world scenarios, and important reporting issues with GAAP principles and practice. This unique framework provides students with a strong foundational knowledge of GAAP rules and regulations, as well as the logic behind these rules and their application in the accounting profession.
  • Real reports: This key feature tests the students’ understanding by providing them with excerpts from real company reports and challenging them to answer several questions about the information they see. Students learn by doing and stretch their understanding of each topic to its limit. With the answers provided in the end-of-chapter material, these self-contained features give students a chance to test themselves as they read. This feature is included as an element in the enhanced chapter structure.
  • Ethical dilemmas: The ethical link between accounting practices and applications in the business world grows in importance daily. To help students develop their ethical compass, this feature puts students in the role of the decision maker faced with an ethical dilemma.
  • End of chapter: INTERMEDIATE ACCOUNTING, 11e, International Edition offers exercises, problems, and questions about contemporary accounting issues, while being the only such text on the market to contain AICPA-adapted multiple choice questions.

1. The Environment of Financial Reporting.
2. Financial Reporting: Its Conceptual Framework.
3. Review of a Company’s Accounting System.
4. The Balance Sheet and the Statement of Changes in Stockholders’ Equity.
5. The Income Statement and the Statement of Cash Flows.
6. Additional Aspects of Financial Reporting and Financial Analysis.
Time Value of Money Module.
7. Cash and Receivables.
8. Inventories: Cost Measurement and Flow Assumptions.
9. Inventories: Special Valuation Issues.
10. Property, Plant, and Equipment: Acquisition and Disposal.
11. Depreciation and Depletion.
12. Intangibles.
13. Current Liabilities and Contingencies.
14. Long-Term Liabilities and Receivables.
15. Investments.
16. Contributed Capital.
17. Earnings Per Share and Retained Earnings.
18. Income Recognition and Measurement of Net Assets.
19. Accounting for Income Taxes.
20. Accounting for Postemployment Benefits.
21. Accounting for Leases.
22. The Statement of Cash Flows.
23. Accounting Changes and Errors.
Appendix A: Coca-Cola 2007 Financial Statements and Supplementary Data.
Appendix B: List of the Official Pronouncements of the AICPA and FASB.
Appendix C: List of International Financial Reporting Standards (IFRS).
  • New FASB Accounting Standards Codification: The FASB has developed the FASB Accounting Standards Codification. This codification includes all accounting standards included in the hierarchy of GAAP established by FASB Statement No. 162. The codification does not change GAAP but reorganizes the contents of U.S. GAAP pronouncements into accounting topical areas. When approved in 2009, the codification will be the single source of authoritative U.S. GAAP. To help students get acquainted with the codification, whenever a U.S. GAAP pronouncement is cited, the eleventh edition lists the expected codification source in parentheses.
  • New Chapter One has been packaged with this Update Edition to provide students with further specifics about the recent codification of GAAP--keeping this text current, accurate, and relevant.
  • New convergence overview: Appendix to Chapter 1 details the process that the FASB and IASB are using to converge U.S. GAAP and international GAAP. The Appendix includes a discussion of the short-term and long-term convergence projects, as well as a discussion of the issues involved in the convergence process.
  • New Joint Conceptual Framework: Appendix to Chapter 2 summarizes the tentative Joint FASB and IASB Conceptual Framework. Notably, Exhibit 2-9 identifies the fundamental qualitative characteristics and their components, the enhancing qualitative characteristics, and the constraints to the framework. When adopted, this framework will replace the separate FASB and IASB Conceptual Frameworks and will be the conceptual underpinning for future GAAP.
  • New IFRS financial statements: In Chapter 4, Example 4-3 shows a company’s (Vodafone Group Plc) balance sheet prepared under IFRS. In Chapter 5, new Example 5-6 shows the company’s income statement prepared under IFRS.
  • Revised IFRS versus U.S GAAP: In previous editions, the text included a section in chapters 4 through 23 that described the differences between IFRS and U.S. GAAP. In the eleventh edition, for each of these chapters the text includes at least one IFRS versus U.S. discussion box that contains an updated and expanded summary of the differences between the two.
John D. Bazley
John D. Bazley, Ph.D., CPA, is the John J. Gilbert Professor in School of Accountancy of the Daniels College of Business at the University of Denver, where he has received numerous teaching awards, including the University’s Distinguished Teaching Award. Professor Bazley earned a B.A. from the University of Bristol in England and an M.S. and Ph.D. from the University of Minnesota. He has taught at the University of North Carolina at Chapel Hill and holds a CPA certificate in the state of Colorado. He has taught national professional development classes for a major CPA firm and was consultant for another CPA firm. Professor Bazley is the coauthor of INTERMEDIATE ACCOUNTING and has also been an author on three other accounting texts. Professor Bazley has published articles in professional journals, and is also a coauthor of a monograph on environmental accounting published by the National Association of Accountants. Professor Bazley is a member of the American Institute of Certified Public Accountants, the Colorado Society of CPAs (CSCPA), and the American Accounting Association. He is a member of the Board of Trustees of the Educational Foundation of the CSCPA. He has recently appeared as an expert witness for the Securities and Exchange Commission and as a consultant for a defendant in a securities fraud case.

Loren A. Nikolai
Loren Nikolai is the Ernst & Young Professor in the School of Accountancy at the University of Missouri-Columbia (MU). He received his B.A. and M.B.A. from St. Cloud State University and his Ph.D. from the University of Minnesota. Professor Nikolai has taught at the University of Wisconsin and at the University of North Carolina, Chapel Hill. Professor Nikolai has received numerous teaching awards. He is the recipient of the MU Student-Athlete Advisory Council 2004 Most Inspiring Professor Award, the University of Missouri System 1999 Presidential Award for Outstanding Teaching, the MU Alumni Association 1996 Faculty Award, the MU College of Business 1994 Accounting Professor of the Year Award, the Missouri Society of CPAs 1993 Outstanding Accounting Educator of the Year Award, the MU 1992 Kemper Fellowship for Teaching Excellence, the St. Cloud State University 1990 Distinguished Alumni Award, and the Federation of Schools of Accountancy 1989 Faculty Award of Merit. He holds a CPA certificate in the state of Missouri and previously worked for the 3M Company. Professor Nikolai is the lead author of INTERMEDIATE ACCOUNTING and has also been an author on four other accounting textbooks. Professor Nikolai has published numerous articles professional journals, and has made numerous presentations around the country on curricular and pedagogical issues in accounting education and was advisor for Beta Alpha Psi for twenty years. Professor Nikolai is a member of the American Accounting Association, the American Institute of Certified Public Accountants (AICPA), and the Missouri Society of CPAs (MSCPA). He has chaired and served on numerous committees of the AICPA, the MSCPA, and Federation of Schools of Accountancy (FSA), and the AAA. He is past president of the FSA and currently is serving on the Board of Directors of the MSCPA.

Jefferson P. Jones
Dr. Jefferson P. Jones is an Associate Professor of Accounting in the School of Accountancy at Auburn University. He received his Bachelor’s in Accounting and Master of Accountancy degrees from Auburn University and his Ph.D. from Florida State University. His research interests focus on financial accounting, specifically investigating the quality of reported accounting information, and accounting education. He has published articles in numerous journals, including Advances in Accounting, Review of Quantitative Finance and Accounting, Issues in Accounting Education, International Journal of Forecasting, and The CPA Journal. Dr. Jones has received numerous teaching awards, including the Auburn University Beta Alpha Psi Outstanding Teaching Award (seven times); the Auburn University Outstanding Master of Accountancy Professor Teaching Award (five times); the Auburn University Outstanding Distance Master of Accountancy Teaching Award (two times); and the Auburn University College of Business McCartney Teaching Award. In addition, he has made numerous presentations around the country on research and pedagogical issues. He holds a CPA certificate in the state of Alabama (inactive) and is a member of the American Accounting Association, the American Institute of Certified Public Accountants (AICPA), and the Alabama Society of CPAs (ASCPA). He has public accounting experience as an auditor for Deloitte and Touche. Dr. Jones is also a co-author of CORNERSTONES OF FINANCIAL ACCOUNTING. He is married, has two children, and enjoys playing golf and watching college football.