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Corporate Financial Accounting 14e

ISBN-13: 9781305653535 / ISBN-10: 130565353X

Carl S. Warren, University of Georgia
James M. Reeve, University of Tennessee
Jonathan Duchac, Wake Forest University
Published by Cengage Learning, ©2017
Available Now

Gain a solid foundation in the core accounting concepts as you develop a true appreciation for why accounting is important to business and a prosperous society with Warren/Reeve/Duchac’s CORPORATE FINANCIAL ACCOUNTING 14E, now available as a bundle option with CengageNOW™v2. This latest edition clearly demonstrates how accounting is more than just data and black and white rules. Instead, you see how accounting provides key information used to make critical business decisions. A new chapter schema provides context that emphasizes how each chapter’s content fits into the big picture. The book focuses on why accounting is important and consistently reinforces connections to the big picture throughout the text and CengageNOW™v2 by connecting journal entries to the accounting equation. You also gain important practice in making business decisions.


  • ACCOUNTING CYCLE COVERAGE PROVIDES UNMATCHED FOUNDATION IN THE BASICS FOR LATER SUCCESS: The accounting cycle is presented in a simple to complex format over four chapters, using one company example throughout (NetSolutions) and illustrating two months of transactions (November and December). The authors repeat and reinforce the accounting cycle with a capstone illustration (Kelly Consulting) of the accounting cycle for one period. Comprehensive Problem 1 provides additional reinforcement of the accounting cycle with transactions for Kelly Consulting for the next period (May).
  • PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS: Built for today''s students, the Warren/Reeve/Duchac presentation style provides content in a way that reflects how the current generation of students read and assimilate information. The authors use short/concise paragraphs and bullets, stepwise progression, and meaningful Illustrations and graphs to engage students and ensure retention.
  • REVENUE RECOGNITION STANDARD COVERAGE KEEP STUDENTS UP-TO-DATE: The authors have updated this edition''s coverage of revenue recognition and integrated the content with the chapter illustration of NetSolutions.
  • CENGAGENOW™V2 CLOSES THE GAP BETWEEN HOMEWORK AND EXAM PERFORMANCE: The new Multi-Panel View enables students to see all elements of a problem on one screen, making it easier for them to navigate the problem and understand the accounting system. New Adaptive Feedback responds to students'' unique answers and alerts them to the type of error they have made, keeping students checked-in and progressing. The new Blank Sheet of Paper Experience provides a less leading response system for journal entries and financial statements that discourages over-reliance on the system.
  • "SHOW ME HOW" VIDEOS IN CENGAGENOW™V2 CLARIFY PROCESSES: Created for the most frequently assigned end-of-chapter items, hundreds of "Show Me How" problem demonstrations provide a step-by-step model of a similar problem. Embedded tips and warnings help students avoid common mistakes and pitfalls, keeping them on track and reducing frustration. Identified by an icon in the text margins, "Show Me How" videos correspond to specific assignments in CengageNOW™v2 and offer ideal opportunities for self-study and review.
  • "DYNAMIC EXHIBITS" IN CENGAGENOW™V2 DEMONSTRATE ACCOUNTING IN ACTION: Dynamic Exhibits allow students to change the variables in a scenario and see how a change ripples through the accounting system. Students see connections and relationships like never before. Clearly identified by icons in the text, Dynamic Exhibits are embedded within the MindTap® eReader in CengageNOWv2™. They are assignable and gradable in CengageNOW™v2 and offer valuable tools for students to study and review.

1. Introduction to Accounting and Business.
2. Analyzing Transactions.
3. The Adjusting Process.
4. Completing the Accounting Cycle.
5. Accounting for Merchandising Businesses.
6. Inventories.
7. Internal Control and Cash.
8. Receivables.
9. Long Term Assets: Fixed and Intangible.
10. Liabilities: Current, Installment Notes, and Contingencies.
11. Liabilities: Bonds Payable.
12. Corporations: Organization, Stock Transactions, and Dividends.
13. Statement of Cash Flows.
14. Financial Statement Analysis.
Appendix A: Interest Tables.
Appendix B: Revenue Recognition Update.
Appendix C: International Financial Reporting Standards.
Appendix D: Investments.
Appendix E: Nike Inc., Form 10-K For the Fiscal Year Ended May 31, 2015.
Appendix F: Special Journals (online)
  • NEW CHAPTER SCHEMA PLACES INDIVIDUAL CHAPTER TOPICS INTO A BROADER CONTEXT: A new schema opens each chapter and provides a "you are here" map to help students navigate course content. The schema shows how the concept the student is going to learn connects to the larger business and accounting picture. In the early chapters, the schema demonstrates how the steps in the accounting cycle are interrelated. In later chapters, the schema highlights how the chapter''s topics connect to the financial statements.
  • ENHANCED REAL COMPANY INTEGRATION EMPHASIZES THE IMPORTANCE OF CONCEPTS IN BUSINESS: Each chapter opener focuses on a well-known contemporary company. New corresponding "Link to" features throughout the chapter revisit the company to clearly demonstrate how the chapter''s concepts consistently apply to this real world business.
  • NEW JOURNAL ENTRY FORMAT AIDS STUDENT COMPREHENSION: To demonstrate the impact of the transaction on the business, each journal entry includes the net effect of the transaction on the accounting equation. This link between the journal entry and the accounting equation is also emphasized in the accompanying CengageNOW™v2 product as a new journal entry tool illustrates the impact of the transaction on the accounting equation.
  • TOGGLE BETWEEN DROP DOWNS AND BLANK SHEET OF PAPER: In addition to Blank Sheet of Paper activities, instructors also have the option of assigning – or using in class for demonstration purposes – assignments with drop downs. Instructors can now carefully tailor their assignments to the needs of their students at that moment.
  • NEW "WHY IT MATTERS" FEATURES HIGHLIGHT HOW ACCOUNTING IMPACTS BUSINESS SUCCESS: New "Why It Matters" features help students connect accounting information with its larger application to business decisions. These features use memorable examples from real companies to illustrate why accounting is so important.
  • NEW "CHECK UP CORNER" HELPS STUDENTS TEST THEIR UNDERSTANDING: To aid learning and encourage problem solving, "Check Up Corner" features in each chapter provide students with representative problems and solutions. Tips help students improve problem-solving skills and avoid common errors.
  • NEW "ANALYSIS FOR DECISION MAKING" PUTS PROCEDURES INTO CONTEXT: The end of each chapter includes this new section that uses real company illustrations to emphasize how businesses use accounting information to make decisions or evaluate the health of the company. Related Analysis for Decision Making assignments allow students to improve analytical skills using real world company data.
  • NEW "LET''S REVIEW" HELP STUDENTS PREPARE FOR EXAMS: These new end-of-chapter features assist busy, distracted students in reviewing and studying for exams. Each "Let''s Review" includes a summary of the chapter, multiple-choice questions, exercises, and a sample problem for students to practice and test themselves. Clear solutions are provided for all practice items. "Show Me How" problem demonstration videos and additional algorithmic practice opportunities are available within CengageNOW™v2 for the Exercises in the "Let''s Review" Sections.
Carl S. Warren
Dr. Carl S. Warren is Professor Emeritus of Accounting at the University of Georgia, Athens. Dr. Warren has taught classes at the University of Georgia, University of Iowa, Michigan State University, and University of Chicago. He focused his teaching efforts on principles of accounting and auditing. Dr. Warren received his PhD from Michigan State University and his BBA and MA from the University of Iowa. During his career, Dr. Warren published numerous articles in professional journals, including The Accounting Review, Journal of Accounting Research, Journal of Accountancy, The CPA Journal, and Auditing: A Journal of Practice and Theory. Dr. Warren has served on numerous committees of the American Accounting Association, the American Institute of Certified Public Accountants, and the Institute of Internal Auditors. He also has consulted with numerous companies and public accounting firms. His outside interests include handball, golf, skiing, backpacking, and fly-fishing.

James M. Reeve
Dr. James M. Reeve is Professor Emeritus of Accounting and Information Management at the University of Tennessee. Dr. Reeve taught full-time as part of the accounting faculty for twenty-five years after graduating with his PhD from Oklahoma State University. He presently teaches part-time at UT. His teaching efforts focused on Senior Executive MBA programs. His research interests are varied and include work in managerial accounting, supply chain management, lean manufacturing, and information management. He has published more than forty articles in academic and professional journals, including Journal of Cost Management, Journal of Management Accounting Research, Accounting Review, Management Accounting Quarterly, Supply Chain Management Review, and Accounting Horizons. He has consulted or provided training around the world for a variety of organizations, including Boeing, Procter & Gamble, Norfolk Southern, Hershey Foods, Coca-Cola, and Sony. When not writing books, Dr. Reeve plays golf and is involved in faith-based activities.

Jonathan Duchac
Dr. Jonathan Duchac is the Wayne Calloway Professor of Accounting and Acting Associate Dean of Accounting Programs at Wake Forest University. He earned his PhD in accounting from the University of Georgia and currently teaches introductory and advanced courses in financial accounting. Dr. Duchac has received a number of awards during his career, including the Wake Forest University Outstanding Graduate Professor Award, the T.B. Rose award for Instructional Innovation, and the University of Georgia Outstanding Teaching Assistant Award. In addition to his teaching responsibilities, Dr. Duchac has served as Accounting Advisor to Merrill Lynch Equity Research, where he worked with research analysts in reviewing and evaluating the financial reporting practices of public companies. He has testified before the U.S. House of Representatives, the Financial Accounting Standards Board, and the Securities and Exchange Commission and has worked with a number of major public companies on financial reporting and accounting policy issues. In addition to his professional interests, Dr. Duchac is an avid mountain biker and snow skier.