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Book details
ISBN: 9780078025389 / 0078025389
Division: Higher Education
Pub Date: JAN-12
Pages: 736

Copyright: 2013
Edition: 6
Format: Hardback
Financial Accounting: Information for Decisions

John Wild


About the book

Financial Accounting: Information for Decisions, 6h edition, addresses the topics and issues typically covered in the financial accounting course, while at the same time motivating student interest in accounting through its extensive use of entrepreneurial examples, application of analysis skills, integration of online course management, and a highly engaging pedagogical design. This book thoroughly integrates ideas and practices followed by today’s business entrepreneurs, speaking more directly to students and better preparing them to enter the work force.
Key features

  • New Fraud Boxes: Coverage in each chapter on fraud and accounting controls, with explanation on the role of accounting
  • New Feature Companies: Students are provided relevant, real-world companies as a resource tool and motivating force in learning accounting. Research in Motion is the new feature company, which means that each chapter has selected assignments that require student to use, analyze, or interpret its accounting data.
  • New Comparative Companies: For comparative purposes with Research in Motion, students are provided the financial statements of Apple and Palm. Assignments are included that ask students to compare and interpret Research in Motion, Apple, and Palm data. Nokia, an international company, serves as a global comparison for Research in Motion, Apple and Palm. Research in Motion’s 2009 Annual Report is included, as well as selected 2009 financial data for all three companies in end-of-book Appendix A. Each of these companies is integrated into the end-of-chapter material.
  • New Opener Companies: Each chapter of the book opens with the manager(s) of a company that applies accounting data for its business decisions. These companies are specifically chosen as motivating forces for students in that they typically reflect hip, innovative, and entertaining entrepreneurs that have successfully applied accounting data to aid in their success. Assignments are included for each chapter that asks students to further expand and apply the accounting methods of that chapter to these feature companies.
  • New and Updated Assignments: All assignments for each chapter are new, revised, and/or updated. Assignments reflect new accounting pronouncements and business developments in practice.
  • Updated for New Standards: Materials are updated to reflect new accounting standards that are applicable to the introductory course.
  • New and Revised Exhibits: The exhibits throughout the book have been updated and revised as necessary to reflect recent data and developments in practice.
  • Updated Marginal Annotations: Marginal annotations have been updated to include new data when applicable.
  • Revised Decision Insights: Most Decision Insight boxes are new and reflect recent developments in the business world that are relevant to accounting practice
  • New or Updated Decision Analysis: The Decision Analysis section at the end of each chapter has been updated to include new or revised company information, analysis, and interpretation. New industry and comparative data are provided where applicable.
  • Revised Beyond the Numbers Assignments: Beyond the Numbers assignments are revised as necessary to reflect more current financial statements and reports, and other current developments in practice.
  • New features in McGraw-Hill Connect:
    • LearnSmart adaptive self-study technology within Connect Accounting helps students make the best use of their study time. LearnSmart provides a seamless combination of practice, assessment, and remediation for every concept in the textbook. LearnSmart’s intelligent software adapts to students by supplying questions on a new concept when they are ready to learn it. With LearnSmart, students will spend less time on topics they understand and practice more on those they have yet to master.
    • Guided Examples provide a narrated, animated, step-by-step walk-through of select exercises similar to those assigned. These short presentations provide reinforcement when students need it most.
    • Interactive Presentations provide engaging narratives of all chapter learning objectives in an interactive online format. The presentations are tied specifically to Financial Accounting, 6e. They follow the structure of the text and are organized to match the learning objectives within each chapter. While the interactive presentations are not meant to replace the textbook in this course, they provide additional explanation and enhancement of material from the text chapter, allowing students to learn, study, and practice with instant feedback at their own pace.
    • Entrepreneurial Chapter Openers and Follow-Up Assignments: Each chapter is launched with a Decision Feature that introduces an engaging entrepreneurial scenario and shows the relevance of accounting to business. These companies are specifically chosen as motivating forces for students in that they typically reflect hip, innovative, and entertaining entrepreneurs that have successfully applied accounting data. Decision Feature openers are connected to the end-of-chapter material with the Entrepreneurial Decision follow-up assignment, which uses the same entrepreneurial business in the opener to apply one or more learning objectives from the chapter.
    • Global View section: Financial accounting according to U.S. GAAP is similar, but not identical, to IFRS. Towards the end of each chapter, a “Global View” section highlights the international accounting practices, including the similarities and differences for financial reporting under IFRS versus U.S. GAAP.
    • IFRS (International Financial Reporting Standards) Boxes: These boxes reflect recent developments in the business world that are relevant to accounting practice and how IFRS may differ from current practices in the U.S. GAAP reporting.
    • Presentation of Transaction Analysis: Identify – Analyze – Record – Post: a more logical and simple presentation of transaction analysis that students understand.
    • Multiple Choice Quiz: A multiple choice quiz is included at the end of each chapter to check students on their comprehension of the materials read. This quiz is in addition to an interactive quiz, which continues to be provided on the text Online Learning Center.
    • The Decision Center provides students with a framework that reinforces the relevance of accounting information to make business decisions. The following pedagogical tools reinforce the Decision Center framework:
      • Decision Feature vignettes open each chapter. All chapter openers use a real world, entrepreneurial company. The entrepreneurial flavor is unique to this textbook – providing additional motivation and interest to students.
      • Decision Maker feature develops critical thinking and decision-making skills by requiring business decisions using accounting information. Each chapter contains two to four of these features. They are purposely chosen to reflect different kinds of users. Examples include investors, consultants, programmers, financial planners, analysts, and creditors. Guidance answers are provided at the end of each chapter.
      • Decision Ethics feature requires readers to make accounting and business decisions with ethical consequences. It uses role-playing to show the interaction of judgment and ethics, the need for ethical awareness, and the impact of ethics. Guidance answers are provided at the end of each chapter.
      • Decision Insight feature highlights interesting and current items from practice that are relevant for accounting. This element helps students link accounting directly to business activities.
      • Decision Analysis section concludes each chapter and emphasizes critical thinking and decision-making skills. Each section introduces one or more tools (ratios) of analysis. It applies these tools to actual companies and evaluates the findings. This section often compares (benchmarks) the performance and financial condition of a company with its competitors.
      • Beyond the Numbers: a special set of assignment materials that reinforce critical thinking skills and decision making with real company examples and Internet applications. There are up to ten types of these assignments in each chapter, including:
        • Reporting in Action requires analysis and use of accounting data for feature companies. The unique FastForward feature allows use of the most current information in the marketplace.
        • Comparative Analysis compares the performance and financial condition of the feature companies. These activities help develop analytical and evaluation skills.
        • Ethics Challenge confronts ethical concerns based on chapter material. Many of these challenges involve actions where the ethical path is blurred.
        • Communicating in Practice exercises aim at applying accounting knowledge to develop written and verbal communication skills.
        • Taking It to the Net requires accessing a website and obtaining information relevant to the chapter. It aims to make readers familiar with online information that is available.
        • Teamwork in Action assignments require preparing, analyzing, and using information in teams. They can be completed in or outside of class. These active learning activities reinforce understanding of key topics and help develop interpersonal skills.
        • Entrepreneurial Decision requires readers to apply chapter content and use accounting information to make business decisions in an entrepreneurial setting.
        • Hitting the Road activities require readers to work outside of the book and often apply interpersonal and communication skills. Tasks range from visits to local merchandisers, to phone interviews, to critical observations of business activities. These assignments help readers understand and appreciate the relevance of accounting.
        • Global Decisions require analysis and evaluation of international companies using accounting information.
        • CAP Learning Objectives Model categorizes and color-codes learning objectives based on whether they are Conceptual, Analytical, or Procedural. This model helps instructors select and execute a focus for their course. These objectives link text material to the assignments along with additional links to the Test Bank, Solutions Manual, and the Instructor’s Resource Manual.
        • Chapter Linkages (A Look Back, A Look at this Chapter, A Look Ahead) launch each chapter and establish bridges between prior, current, and upcoming chapters. This organizational tool assists readers in effectively learning the materials and helps them link concepts across topics.
        • Financial Statements of familiar companies are used to acquaint readers with the format, content, and use of accounting information. The financial statements for Research in Motion, Apple, Nokia and Palm are reproduced in the book and referenced often.
        • Quick Check boxes in the chapter reinforce the immediately preceding materials. They allow the reader to momentarily pause and reflect on the topics described. They give immediate feedback on the reader’s comprehension before moving along to new topics. Answers are provided at the end of each chapter.
        • Varied End of Chapter Materials including: glossary, summary, guidance answers to Decision Maker and Ethics features, guidance answers to Quick Check, demonstration problem, questions, quick studies, exercises, check figures, problems, alternate problems, and the Beyond The Numbers section.
        • Comprehensive and Serial Problems are included in several chapters and focus on multiple learning objectives from multiple chapters. They integrate and summarize key principles. They can also act as brief “practice sets” incorporating real world scenarios and technology.

  • About the author

    John Wild
    John J. Wild is Professor of Business and Vilas Research Scholar at The University of Wisconsin at Madison, where he also received his Ph.D. He has received numerous teaching awards at Wisconsin as well as from Michigan State University. He is a frequent speaker at universities and national and international conferences.

    Table of contents

    Chapter 1: Introducing Accounting in Business
    Chapter 2: Analyzing and Recording Transactions
    Chapter 3: Adjusting Accounts and Preparing Financial Statements
    Chapter 4: Reporting and Analyzing Merchandising Operations
    Chapter 5: Reporting and Analyzing Inventories
    Chapter 6: Reporting and Analyzing Cash and Internal Controls
    Chapter 7: Reporting and Analyzing Receivables
    Chapter 8: Reporting and Analyzing Long-Term Assets
    Chapter 9: Reporting and Analyzing Current Liabilities
    Chapter 10: Reporting and Analyzing Long-Term Liabilities
    Chapter 11: Reporting and Analyzing Equity
    Chapter 12: Reporting and Analyzing Cash Flows
    Chapter 13: Analyzing and Interpreting Financial Statements
    Appendix A: Financial Statements Information
    Appendix B: Applying Present and Future Values
    Appendix C: Investments and International Operations
    Appendix D: Reporting and Analyzing Partnerships (online only
    Appendix E: Reporting and Analyzing Special Journals (online only



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