Financial Accounting,
6th Edition

1. Accounting and the Financial Statements.
1s. Reading a Company’s Annual Report (Form 10-K).
2. The Accounting Information System.
3. Accrual Accounting.
Making the Connection, Integrative Exercise: The Accounting Cycle.
4. Internal Control and Cash.
5. Sales and Receivables.
6. Cost of Goods Sold and Inventory.
7. Operating Assets.
Making the Connection, Integrative Exercise: Integrated Asset Accounting.
8. Current and Contingent Liabilities.
9. Long-Term Liabilities.
10. Stockholders' Equity.
Making the Connection, Integrative Exercise: Integrating Accounting for Liabilities and Equity.
11. The Statement of Cash Flows.
12. Financial Statements Analysis.
Appendix 1: Investments.
Appendix 2: Time Value of Money.
Appendix 3: International Financial Reporting Standards.
Appendix 4: Financial Statement Information: The Kroger Co.
Appendix 5: Financial Statement Information: Sprouts Farmers Market.
Glossary.
Check Figures.
Index.

• Jay S. Rich

  Jay Rich is a professor of accounting at Illinois State University. He received his B.S., M.S. and Ph.D. from the University of Illinois. Prior to entering the Ph.D. program, he worked as an auditor at Price Waterhouse & Co. in Chicago and earned his C.P.A. In 1985. Dr. Rich has published articles in numerous journals, including The Accounting Review, Auditing: A Journal of Practice & Theory, Accounting Horizons, Contemporary Accounting Research, Organizational Behavior and Human Decision Processes and Accounting Organizations and Society. He has also served on the editorial board of Auditing: A Journal of Practice & Theory and Current Issues in Auditing. Dr. Rich has received both the Outstanding Dissertation Award and Notable Contribution to the Literature Award from the Audit Section of the American Accounting Association. He was also recognized with the Outstanding Educator Award from the Illinois CPA Society. His primary teaching interest is financial accounting and he has taught numerous courses at the undergraduate, master and doctoral levels. Dr. Rich has a wife of 30 years, Jane, and three children, Dennis, Anne and Grace. His outside interests include his family, travel and reading. He also repeatedly develops plans to exercise and diet at some point in the future. By all accounts, he is a master at grilling meat, a mediocre skier and a shameful golfer.

• Jeff Jones

  Dr. Jefferson P. Jones is an associate professor of accounting in the School of Accountancy at Auburn University, where he teaches financial accounting and applied financial research courses. He received his B.A. and M.A. degrees from Auburn University and his Ph.D. from Florida State University. Dr. Jones has received numerous teaching awards, including the Auburn University Beta Alpha Psi Outstanding Teaching Award (eleven times), the Auburn University Outstanding Master of Accountancy Professor Teaching Award (five times), the Auburn University Outstanding Distance Master of Accountancy Teaching Award (three 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. Dr. Jones has public accounting experience as an auditor with Deloitte and Touche and holds a C.P.A. certificate in the state of Alabama (inactive). He is a member of the American Accounting Association, the American Institute of Certified Public Accountants (AICPA) and the Alabama Society of CPAs (ASCPA). 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. When not at work, Dr. Jones enjoys playing golf and watching college football.

• Linda Ann Myers

  Linda A. Myers is a distinguished professor of accounting and holder of the Haslam Chair of Business at The University of Tennessee, Knoxville (UTK). She holds a B.com. in accounting and M.B.A. from McMaster University and a Ph.D. from the University of Michigan. Dr. Myers has published more than 40 peer-reviewed articles in The Accounting Review; Journal of Accounting and Economics; Journal of Accounting Research; Contemporary Accounting Research; Review of Accounting Studies and Accounting, Organizations and Society. She is the recipient of the AAA’s Notable Contribution to the Auditing Literature Award, the AAA’s Financial Accounting and Reporting Section Best Paper Award and the Financial Executives Research Foundation’s Award for the Outstanding Accounting Review Article. Dr. Myers’ research has been cited in The New York Times and The Economist, as well as by the Public Company Accounting Oversight Board and the U.S. Securities and Exchange Commission. She has also been quoted on National Public Radio’s Marketplace Business. She is as an editor at Contemporary Accounting Research, Auditing: A Journal of Practice & Theory, Accounting Horizons, Journal of International Accounting Research and CAFR. Dr. Myers is also an associate editor at the Journal of Accounting and Auditing & Finance, and she serves on the editorial boards of The Accounting Review and European Accounting Research. She has taught financial accounting, managerial accounting, and Ph.D. seminars at McMaster University, University of Illinois, Texas A&M University, University of Arkansas and UTK. She currently serves as director of the Ph.D. program in accounting at UTK. When not traveling around the globe, Dr. Myers enjoys playing board games, cooking and entertaining, and spending time with her husband and two children.

• AUTHOR TOPIC VIDEOS. Author Jay Rich created a series of videos that review pivotal topics in each chapter. These videos are designed to supplement the book and provide students with an engaging way to help them understand complex concepts or gain an alternative perspective. Additionally, they can be assigned prior to class to prepare students for discussion and participation.

• DATA ANALYTICS SKILL BUILDERS. This collection of interactive activities in CNOWv2 introduces students to data analytics. Activities are tied to textbook topics and combine content and process. Students perform calculations in Excel, using functions like pivot tables to work with large data sets and solve accounting-related questions.

• UPDATED RESOURCES ON COMPANY ANNUAL REPORTS AND FORM 10-K. This supplement introduces students to the contents of the annual report (Form 10-K). It also describes the information found in each section of the 10-K as well as information contained in ESG reports.

• ANNUAL REPORT PROBLEMS. A library of author-created and algorithmic annual report problems allows students to use company’s Form 10-Ks and gain experience with real-world annual reports.

• KEY HOMEWORK AND STUDY RESOURCES IN CNOWv2. This online learning platform is designed to take students beyond homework. CNOWv2 prepares students for the real world with hands-on exercises and assessment carefully created to build experience and skills.

• CHAPTERS OPEN WITH AN EXPERIENCE-DRIVEN FINANCIAL ACCOUNTING VIGNETTE. These engaging vignettes highlight how real companies like Apple, Verizon or Disney, use accounting information to make stronger decisions. Real financial statements from leading, familiar companies illustrate key concepts. Each chapter includes an assignment that requires students to analyze and interpret actual financial data for companies, such as Vail Properties and Callaway Golf.

• FOCUS ON IMPORTANT RELATIONSHIPS BETWEEN ACCOUNTING, FINANCIAL STATEMENTS AND BUSINESS DECISIONS IN A REAL-WORLD CONTEXT. With earlier introduction to detailed financial statements (e.g., classified balance sheet, multiple step income statement), students can start reading, analyzing and using actual annual reports (Form 10Ks) earlier. This is enhanced with a supplement on “How to Read an Annual Report” that describes the contents of a Form 10-K and reinforced with algorithmic Annual Report Problems that require students to use actual information from company’s 10Ks.

• DATA ANALYTICS. Data analytics is integrated into the first chapter at an introductory level. Students will learn what data analytics is and how it can be used to answer accounting questions. Data Analytics Skill Builders accompany each chapter in CNOWv2 to help students begin to develop this essential skill.

• "ETHICAL DECISIONS" TEACH READERS TO MAKE INFORMED ETHICAL CHOICES. To succeed in today's business climate, students must know how to analyze business situations thoughtfully and make informed, ethical decisions. This edition weaves "Ethical Decisions" features into each chapter to encourage students to develop these essential skills. Students learn to consider the ethical implications of their actions in every situation.

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