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Financial Accounting 10e

ISBN-13: 9781305654174 / ISBN-10: 130565417X

The Impact on Decision Makers
Gary A. Porter, Drake University
Curtis L. Norton, Arizona State University
Published by Cengage Learning, ©2017
Available Now

FINANCIAL ACCOUNTING: THE IMPACT ON DECISION MAKERS 10E, now available as a bundle option with CengageNOW™v2, will help you learn how to use accounting information to make business decisions and focus on the big picture. Journal entries in the text and CengageNOW™v2 demonstrate the balance sheet and income statement impact of transactions, helping you see how business events ultimately impact the financial statements. In addition to exposing you to annual reports of highly recognizable companies such as Nike, Porter’s exclusive Ratio Decision-Model provides a framework for reading and interpreting financial statements to make decisions. The focus on financial statements and decision-making carries through to the end-of-chapter with a suite of case materials so you can practice reading and interpreting financial statements. In addition, this edition uses a new modular organization, allowing you to absorb the content in smaller sections for better retention.


  • THE TRANSACTION ANALYSIS MODEL HELPS STUDENTS SEE THE EFFECTS AN ECONOMIC EVENT HAS ON THE ACCOUNTING EQUATION AND FINANCIAL STATEMENTS. The Journal Entry Analysis shows both the journal entry and the transaction-effects equation in one integrated notation, allowing for a clear view of how transactions affect the balance sheet and better communicates the relationship between the net income and stockholder''s equity. The model asks students to be able to state the event, understand the accounts used and how they''re impacted, understand how to apply debit/credit rules to journalizing, know what effect transactions will have on the accounting equation and, ultimately, on the financial statements. This model is extended into the end of chapter questions and CengageNOWv2™ with questions that measure students'' understanding of the effects of transactions they''re asked to record.
  • FINANCIAL DECISION FRAMEWORK EMPHASIZES RELEVANCE, ANALYSIS AND BUSINESS DECISIONS. This framework teaches students to identify relevant information and analyze it to make better business decisions. The two-part framework includes a Ratio Decision Model and a Business Decision Model. Models help students hone their analysis and decision-making skills using real company information in a relevant, applicable context. The models extend into end-of-chapter question and CengageNOWv2™ so students not only learn these models for making financial decisions, but also apply them in practice.
  • REAL DATA TO PREPARE STUDENTS FOR THE REAL WORLD. Porter/Norton takes students through recognizable companies and their real financial data and business strategies, imparting students with real-life experience and a model to hone the skills necessary to making important decisions. Real company information is used throughout the narrative and end-of-chapter activities.
  • FOCUS ON HIGHLY RECOGNIZABLE FIRMS. Focus on highly recognizable firm such as Nike in each chapter draw students into the chapter by demonstrating how accounting drives value.

1. Accounting as a Form of Communication.
2. Financial Statements and the Annual Report.
3. Processing Accounting Information.
4. Income Measurement and Accrual Accounting.
5. Inventories and Cost of Goods Sold.
6. Cash and Internal Control.
7. Receivables and Investments.
8. Operating Assets: Property, Plant, and Equipment, and Intangibles.
9. Current Liabilities, Contingencies, and the Time Value of Money.
10. Long-Term Liabilities.
11. Stockholders' Equity.
12. The Statement of Cash Flows.
13. Financial Statement Analysis.
Appendix A. International Financial Reporting Standards.
Appendix B. Excerpts from Chipotle's Form 10-K.
Appendix C. Excerpts from Panera Bread's Form 10-K.
  • NEW CENGAGENOWV2™ PREPARES STUDENTS FOR THE EXAM. CengageNOWv2™ better prepares students for the exam by providing an online homework experience that is similar to what students will experience on the exam and in the real world. The new Blank Sheet of Paper Experience discourages overreliance on the system and requires students problem-solve on their own, as if taking a test on a blank sheet of paper. The new Multi-Panel View enables users to see all elements of a problem on one screen, helping them to better grasp the big picture and understand the accounting system.
  • NEW ADAPTIVE STUDY PLAN KEEPS STUDENTS ON TRACK. The Adaptive Study Plan, within CengageNOWv2™, adjusts to each student''s unique needs and provides a remediation pathway to keep students progressing.
  • NEW MODULAR ORGANIZATION IS BUILT FOR HOW TODAY''S STUDENTS READ AND ASSIMILATE INFORMATION. This new chapter structure provides several modules in each chapter that focus on smaller portions of content. Each module is followed by a set of related activities that students can use for review. This organization allows students to absorb the chapter content in smaller sections for better retention.
  • NEW MODULAR TEST YOURSELF FEATURE BUILDS CONFIDENCE. At the end of each module, the Test Yourself feature provides students with an opportunity to check their understanding, work practice problems and build confidence.
  • NEW IMPACT OF TRANSACTIONS ON FINANCIAL STATEMENTS IN CENGAGENOWV2™. Journal entries in CengageNOWv2™ require students to demonstrate understanding of not only debits and credits but the impact of transactions on the Balance Sheet and Income Statement.
  • NEW EXCEL PROBLEMS IN CENGAGENOWV2™ BUILD SKILLS. Auto-graded Excel problems, integrated into CengageNOWv2™, build Excel skills by having students use Microsoft Office Excel Online to solve accounting problems. Grading is carefully structured on these algorithmic problems to ensure that students use Excel to both get the correct answer and use the appropriate formula.
  • TWO NEW FLAGSHIP FOCUS COMPANIES--CHIPOTLE AND PANERA BREAD--EXEMPLIFY CONCEPTS IN ACTION THROUGHOUT THE TEXT. These familiar companies allow students to apply the accounting models they''re learning to real financial data from two companies within the same industry. The authors selected these Focus Companies for their high profile (many students will be regular customers of one or both of these restaurants) and for the straightforward nature of their financial statements.
  • CONNECT TO THE REAL WORLD FEATURES ASK STUDENTS TO APPLY CONCEPTS TO ACTUAL FINANCIAL INFORMATION. Students practice concepts using financial detail from the focus company featured in the Making Business Decisions Opening Vignette. Answers provided at the end of the chapter allow students to immediately check their understanding.
  • HOW WILL I USE ACCOUNTING? PROVIDES HELPFUL PROFESSIONAL TIPS AND QUOTES. Readers gain insights from real people who incorporate accounting into their careers and everyday lives.

"Having taught the course for many years (over 30) I think that the modular approach fits current student learning trends. Depending on how well the material is structured, it also gives the instructor more flexibility in material coverage."
Ann Selk, University of Wisconsin-Green Bay

"Displaying homework, exercises, problems, reviews at the end of the chapter is too far removed from the student's actual learning/retention experience. This has historically been publishers' preference. The modular concept, as presented, however brings learning, discovery, application, solution, and recall all together for the student's benefit."
Leslie "Andy" Speck, Embry-Riddle Aeronautical University

Gary A. Porter
Dr. Gary A. Porter earned his M.B.A. and Ph.D. degrees from the University of Colorado. Throughout his career, Dr. Porter has taught at several universities, including San Diego State; Loyola University Chicago; and the University of Montana. He has also served as a department chair. He is currently Distinguished Lecturer at Drake University. Widely published and the recipient of numerous teaching awards, Dr. Porter has conducted workshops on introductory accounting education and corporate financial reporting, has worked as a staff accountant with Deloitte & Touche, and has actively served the Illinois CPA Society, American Accounting Association, and Financial Executives International.

Curtis L. Norton
Dr. Curtis L. Norton received his Ph.D. from Arizona State University and an M.B.A. from the University of South Dakota. He is currently Clinical Professor of Accounting at Arizona State University. As Professor of Accounting at Northern Illinois University for more than 30 years, Dr. Norton earned the University Excellence Teaching Award and has published in The Accounting Review, The Journal of Accounting Education, CPA Journal, and many other professional journals. A member of the American Accounting Association and Financial Executives International, he also consults and conducts training for private and governmental authorities, banks, and utilities.