Financial and Managerial Accounting / Carl S. Warren, Jefferson P. Jones and William B. Tayler

Overview :
Provide a solid foundation in accounting fundamentals as you motivate students by demonstrating accounting's importance in business with Warren/Jones/Tayler’s FINANCIAL AND MANAGERIAL ACCOUNTING, 15E. This leading book's business examples and new chapter schemas provide meaningful context for readers. The authors clearly demonstrate how each chapter’s content fits into the "big picture." This edition connects fundamental accounting concepts to challenges and success in real businesses today. In addition, new Certified Management Accountant (CMA) exam questions prepare students for professional success, while Pathways Challenges help readers hone critical-thinking skills. This edition also works seamlessly with CengageNOWv2 online resources to provide a range of activities that address each stage of the learning process from motivation to mastery.

What's New :

New PATHWAYS CHALLENGES PROMPT INTEREST AND HIGHLIGHT CRITICAL THINKING. A Pathways Challenge in each chapter encourages student interest in accounting and emphasizes the critical thinking aspects of accounting. A suggested answer to the Pathways Challenge is provided at the end of the chapter. This feature corresponds with the Pathways Commission's recommendations included in Charting a National Strategy for the Next Generation of Accountants.
IMPROVED DISCUSSION CLEARLY EXPLAINS THE NET AND GROSS METHODS IN CHAPTER 5. This presentation helps students better understand both the Net Method consistent with the revenue recognition standard, and the more complex Gross Method that many small businesses may still utilize. Differences between the two methods are illustrated. The authors also expose students to new accounts that they will see throughout the chapter, and the distinctions between a service and retail business.
TWO NEW CHAPTERS ADDRESS PRIORITY MANAGERIAL ACCOUNTING ISSUES. New coverage of support department and joint cost allocation appears in Chapter 19. A new Chapter 28, "The Balanced Scorecard and Corporate Responsibility," discusses the Balanced Scorecard in depth with a detailed example of the development of a Balanced Scorecard for Cordier Toys, Inc. The chapter concludes with a discussion of Corporate Social Responsibility (CSR), including sustainability initiatives and how to incorporate CSR into a Balanced Scorecard.
NEW CERTIFIED MANAGEMENT ACCOUNTANT (CMA) EXAMINATION QUESTIONS PREPARE READERS FOR SUCCESS ON THE EXAM. These new questions appear in the end-of-chapter materials for each managerial chapter. The questions, adapted from past CMA exams, correspond with the chapter's content and equip students for testing success.
UPDATED CHAPTER 4 CONTENT CLARIFIES THE CLOSING PROCESS. The Closing Entry Process now uses two closing entries, rather than four, for consistency with today’s computerized accounting systems. The first closing entry closes revenues and expenses (net income or loss) to retained earnings. The second closing entry does not change and closes the dividends account to retained earnings. The temporary account, Income Summary, is no longer used, which simplifies the process. In addition, the first closing entry is similar to the income statement, which students prepare before the closing process.

Features :

SHOW ME HOW VIDEOS IN CENGAGENOWV2 CLARIFY PROCESSES. Created for the most frequently assigned end-of-chapter items, hundreds of Show Me How problem demonstrations provide step-by-step models of similar problems. Embedded tips help students avoid common mistakes and pitfalls to reduce frustration. Show Me How videos, identified by icons in the text margins, correspond to specific assignments in CengageNOWv2 and offer ideal opportunities for self-study and review.
LINKS AND REFERENCES INTEGRATED THROUGHOUT EACH CHAPTER FEATURE THE REAL-WORLD COMPANY THAT OPENS THE CHAPTER. The real company highlighted at the beginning of each chapter is linked to material throughout the chapter, further emphasizing the practical application of accounting principles that students are learning. These links exemplify how the specific topic affects or is applied by the opening company.
AUTHORS EMPHASIZE ETHICS WITH FOCUS ON PRACTICAL APPROACH. Actual ethical situations related to the chapter’s topics are integrated throughout each chapter. In "Ethics: Do It" features, the situation illustrates a positive ethical response, while "Ethics: Don’t Do It" features demonstrate a negative ethical response.
ACCOUNTING EQUATIONS IN THE MARGIN CORRELATE TO SPECIFIC SECTIONS OF CHAPTER CONTENT. For each journal entry within a chapter, the accounting equation’s impact, positive or negative, on assets, liabilities, and stockholders’ equity appears in the margin.
AUTHOR-WRITTEN END-OF-CHAPTER MATERIALS PROVIDE AN ACCURACY YOU AND YOUR STUDENTS CAN TRUST. The authors apply their vast teaching and business experience to developing and revising this edition’s end-of-chapter materials. In addition, all end-of-chapter content is verified by dedicated Subject Matter Experts to further ensure accuracy.
SIMPLE-TO-COMPLEX STUDENT-FOCUSED LEARNING FEATURES ENSURE COMPREHENSION. The book’s authors integrate their own business experience and professional knowledge with input from leading accounting faculty. This edition presents a proven simple-to-complex pedagogy that facilitates student learning as readers progress through the text.
PRESENTATION STYLE APPEALS TO CONTEMPORARY LEARNERS. Built for today's students, this edition presents content in an appealing presentation style that reflects how the current generation of students reads and assimilates information. Short paragraphs, concise bullets, stepwise progression, and meaningful Illustrations and graphs engage students and ensure retention.
REVENUE RECOGNITION STANDARD COVERAGE KEEPS STUDENTS UP TO DATE. The latest coverage of revenue recognition integrates content with the chapter's illustration of NetSolutions, a realistic retail business.