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Financial and Managerial Accounting, International Edition 10e

ISBN-13: 9781133959007 / ISBN-10: 1133959008

Belverd E. Needles, DePaul University
Marian Powers, Northwestern University
Susan V. Crosson, Emory University
1280pp
Published by Cengage Learning, ©2014
Available Now
£167.00

Needles/Powers/Crosson's FINANCIAL AND MANAGERIAL ACCOUNTING, 10e, International Edition continuously evolves to meet the needs of today's learner. This edition's new structure is based on research about how to deliver content to students and how to mirror the way instructors have told us they teach. The authors have organized this edition into a new three-section approach:
1. The CONCEPTS section focuses on the overarching accounting concepts that require consistent reiteration throughout the course.
2. The ACCOUNTING APPLICATIONS section helps students apply the accounting procedures with features such as "Apply It!" and a new transaction analysis model.
3. The BUSINESS APPLICATIONS section illustrates how concepts and procedures are used to make real-world business decisions.
As students walk through the new three-section approach, they gain extra practice with new corresponding TriLevel Problems within CengageNOW. These problems mirror the three sections in each chapter—Concepts, Accounting Applications, and Business Applications—to foster a complete understanding of each section.
These substantial changes make students more efficient learners and prepare them to face a business world that is increasingly complicated by ethical issues, globalization, and technology.

Features

  • CengageNOW is an easy-to-use online homework solution that helps students study in less time to get the grade they want. CengageNOW has been updated with new content and assignment types.
  • USE OF WELL-KNOWN PUBLIC COMPANIES: This textbook offers examples from highly recognizable public companies such as CVS Caremark, Southwest Airlines, Dell Computer, and Netflix to relate basic accounting concepts and techniques to the real world. Chapter 5 helps students interpret financial information. The latest available data is used in exhibits to incorporate the most recent FASB pronouncements. The authors illustrate current practices in financial reporting by referring to data from Accounting Trends and Techniques (AICPA) and integrating international topics wherever appropriate.
  • Every chapter learning objective has an "Apply It!" feature that illustrates and solves a short exercise. This helps students apply their knowledge in a step-by-step manner.
  • Business Perspective and International Perspective features have been added or updated to reflect what is going on in the real world, such as IFRS.
  • Study Notes appear in the margins of the textbook and alert students to common misunderstandings of concepts and techniques; key ratio and cash flow icons, which highlight discussions of profitability and liquidity; and accounting equations. Icons and equations appear in the financial chapters.

1. Uses of Accounting Information and the Financial Statements.
Supplement to Chapter 1: How to Read an Annual Report.
2. Measurement Concepts: Recording Business Transactions.
3. Measuring Business Income: Adjusting the Accounts.
Supplement to Chapter 3: Closing Entries and the Work Sheet.
4. Foundations of Financial Reporting and the Classified Balance Sheet.
5. Accounting for Merchandising Operations.
6. Inventories.
7. Cash and Internal Control.
8. Receivables.
9. Long-Term Assets.
10. Current Liabilities and Fair Value Accounting.
11. Long-Term Liabilities.
12. Stockholders' Equity.
13. The Statement of Cash Flows.
Supplement to Chapter 13: The Direct Method of Preparing the Statement of Cash Flows.
14. Financial Statement Analysis.
15. Managerial Accounting and Cost Concepts.
16. Costing Systems: Job Order.
17. Costing Systems: Process Costing.
18. Value-Based Systems: Activity-Based-Costing and Lean Accounting.
19. Cost-Volume-Profit Analysis.
20. The Budgeting Process.
21. Flexible Budgets and Performance Analysis
22. Standard Costing and Variance Analysis.
23. Short-Run Decision Analysis.
24. Capital Investment Analysis.
25. Pricing Decisions, Including Target Costing and Transfer Pricing.
26. Quality Management and Measurement.
Appendix A: Accounting for Unincorporated Businesses.
Appendix B: Investments.
Appendix C: Present Value Tables.
  • The authors have organized this edition into a new three-section approach:
  • 1. The CONCEPTS section focuses on the overarching accounting concepts that require consistent reiteration throughout the course.
  • 2. The ACCOUNTING APPLICATIONS section helps students apply the accounting procedures with features such as "Apply It!" and a new transaction analysis model.
  • 3. The BUSINESS APPLICATIONS section illustrates how concepts and procedures are used to make real-world business decisions.
  • IMPROVED END-OF-CHAPTER ASSIGNMENTS: Based on market and syllabi research for introductory accounting courses , the following changes have been made to end-of-chapter assignments:
  • Added new discussion questions.
  • Added new discussion questions.
  • Added new B set for the exercises (available online).
  • Added new check figures to the margins for problems, where applicable.
  • Added more alternate problems.
  • Added labels for the cases to make it easier to identify appropriate assignments.
  • Updated end-of-chapter assignments with new numbers and current data, where applicable.
  • NEW CENGAGENOW WITH NEW TRILEVEL PROBLEMS: As students walk through the new three-section approach, they gain extra practice with new corresponding TriLevel Problems within CengageNOW. These algorithmic problems mirror the three sections in each chapter—Concepts, Accounting Applications, and Business Applications—to foster a complete understanding of each section.
  • NEW ANIMATED ACTIVITIES: Animated Activities in CengageNOW are videos that guide students through selected core topics using a realistic company to illustrate how the concepts relate to the everyday activities of a business. Animated Activities are assignable or available for self-study and review.
  • NEW BLUEPRINT PROBLEMS: In CengageNOW, these problems cover the primary learning objectives and help students understand the fundamental accounting concepts and their associated building blocks—not just memorize the formulas or journal entries required for a single concept. Blueprint Problems include rich feedback and explanations, providing students with an excellent learning resource. These comprehensive problems tie concepts together and support reinforcement of core accounting fundamentals.
  • NEW BLUEPRINT CONNECTIONS: Blueprint Connections in CengageNOW build on concepts covered and introduced in the Blueprint Problems. These scenario-based, interactive exercises help reinforce students'' knowledge of the concepts and strengthen their analytical skills.
  • NEW "Check My Work" FEEDBACK: Written feedback is now available when students click "Check My Work" in CengageNOW to provide valuable guidance as they work through homework items.
  • NEW POST-SUBMISSION FEEDBACK: Where appropriate, source calculations and further explanation have been added alongside the solution in CengageNOW to help students understand where they went wrong in solving questions.
  • NEW CONCEPTUAL CONVERSION QUESTIONS: End-of-chapter questions or requirements within larger questions that were previously short answer questions have been converted to be assignable and gradable within CengageNOW.
  • RATIO ANALYSIS MODEL: A new framework has been added that teaches students how to analyze company information and make informed decisions using ratio analysis.
  • BUSINESS TRANSACTION MODEL: A new business transaction model for all financial accounting chapters involving transactions has been added. This model visually guides students step-by-step through accounting for business transactions.
  • Based on market feedback, the text was reorganized and the chapters were renamed for better alignment with the balance sheet presentation.
  • SIMPLIFIED COMPLEX ACCOUNTING TOPICS: Extra care has been taken to clarify the topics students struggle with most by using simple language; setting equations, formulas, and steps apart for easier student reference; and revising exhibits. In addition, wherever possible, detailed information has been made more concise by shortening paragraphs and breaking sentences into bulleted lists.
{Supplements}
{Quotes}
Belverd E. Needles
Belverd E. Needles, Jr., received his BBA and MBA degrees from Texas Tech University and his PhD degree from the University of Illinois at Urbana-Champaign. He teaches financial accounting, managerial accounting, and auditing at DePaul University, where he is an internationally recognized expert in international accounting and education. He has published in leading journals and is the author or editor of more than 20 books and monographs. His current research relates to international financial reporting, performance measurement, and corporate governance of high-performance companies in the United States, Europe, India, and Australia. His textbooks are used throughout the world and have received many awards, including (in 2008) the McGuffey Award from the Text and Academic Authors Association. Active in many academic and professional organizations, he is immediate past vice president-education of the American Accounting Association. He received the Distinguished Alumni Award from Texas Tech University, the Illinois CPA Society Outstanding Educator Award and its Life-Time Achievement Award, the Joseph A. Silvoso Faculty Award of Merit from the Federation of Schools of Accountancy, the Ledger & Quill Award of Merit, and the Ledger & Quill Teaching Excellence Award. He was named Educator of the Year by the American Institute of CPAs, Accountant of the Year for Education by the national honorary society Beta Alpha Psi, and Outstanding International Accounting Educator by the American Accounting Association. He received the Excellence in Teaching Award from DePaul University.

Marian Powers
Marian Powers received her B.S. degree from Chicago State University and her Ph.D. degree from University of Illinois at Urbana-Champaign. In addition to the Kellogg School of Management at Northwestern University, she has taught financial accounting at the University of Illinois, Chicago, and at the Lake Forest Graduate School of Management. Internationally recognized as a dynamic teacher in executive education, she specializes in teaching nonfinancial managers how to read and understand internal and external financial reports, including the impact of international financial reporting standards (IFRS). Her current research relates to international financial reporting, performance measurement, and corporate governance of high-performance companies in the United States, Europe, India, and Australia. Her research has been published in leading journals. Her textbooks, coauthored with Belverd E. Needles, Jr., are used throughout the world and have received many awards, including the Textbook Excellence Award and the McGuffey Award from the Text and Academic Authors Association. She has also coauthored three interactive multimedia software products. She currently serves on the Board of the CPA Endowment Fund of Illinois and is immediate past-chair of the Board of Governors of the Winnetka Community House. She is a member of International Association of Accounting Education and Research, and Illinois CPA Society. She has served on the Board of Directors of the Illinois CPA Society, the Educational Foundation of Women in Accounting, and both the national as well as Chicago chapters of ASWA.

Susan V. Crosson
Susan V. Crosson received her B.B.A. degree in economics and accounting from Southern Methodist University and her M.S. degree in accounting from Texas Tech University. She is currently teaching in the Goizueta Business School at Emory University in Atlanta, Georgia. Until recently, she was the Accounting Faculty Lead and Professor at Santa Fe College in Gainesville, Florida. She has also been on the faculty of the University of Florida; Washington University in St. Louis; University of Oklahoma; Johnson County Community College in Kansas; and Kansas City Kansas Community College. She is internationally known for her YouTube accounting videos as an innovative application of pedagogical strategies. In recognition of her professional and academic activities, she was a recipient of the Outstanding Service Award from the American Accounting Association (AAA), an Institute of Management Accountants’ Faculty Development Grant to blend technology into the classroom, the Florida Association of Community Colleges Professor of the Year Award for Instructional Excellence, and the University of Oklahoma’s Halliburton Education Award for Excellence. Currently, she serves as President of the Teaching, Learning, and Curriculum section of the AAA. Recently, she served as a Supply Chain Leader for The Commission on Accounting Higher Education which published “Pathways to a Profession” Charting a National Strategy for the Next Generation of Accountants. She has also served on various committees for the AICPA, Florida Institute of CPAs, and the Florida Association of Accounting Educators.