Accounting Principles, 13e

Book Preface

Dear Student,

WHY THIS COURSE? Remember your biology course in high school? Did you have one of those “invisible man” models (or maybe something more high-tech than that) that gave you the opportunity to look “inside” the human body? This accounting course off ers something similar. To understand a business, you have to understand the financial insides of a business organization. An
accounting course will help you understand the essential financial components of businesses. Whether you are looking at a large multinational company like Apple or Starbucks or a single-owner software consulting business or coff ee shop, knowing the fundamentals of accounting will help you understand what is happening. As an employee, a manager, an investor, a business owner, or a director of your own personal fi nances— any of which roles you will have at some point in your life—you will make better decisions for having taken this course.

WHY THIS TEXT? Your instructor has chosen this text for you because of the authors’ trusted reputation. The authors have worked hard to write a text that is engaging, timely, and accurate. HOW TO SUCCEED? We’ve asked many students and many instructors whether there is a secret for success in this course. The nearly unanimous answer turns out to be not much of a secret: “Do the homework.” This is one course where doing is learning. The more time you spend on the homework assignments—using the various tools that this text provides—the more likely you are to learn the essential concepts, techniques, and methods of accounting. Besides the text itself, WileyPLUS also offers various support resources.

Good luck in this course. We hope you enjoy the experience and that you put to good use throughout a lifetime of success the knowledge you obtain in this course. We are sure you will not be disappointed.

Jerry J. Weygandt
Paul D. Kimmel
Donald E. Kieso

Brief Contents
1 Accounting in Action 1-1
2 The Recording Process 2-1
3 Adjusting the Accounts 3-1
4 Completing the Accounting Cycle 4-1
5 Accounting for Merchandising Operations 5-1
5A Accounting for Merchandising Operations (periodic approach)*
6 Inventories 6-1
6A Inventories (perpetual approach)*
7 Accounting Information Systems 7-1
8 Fraud, Internal Control, and Cash 8-1
9 Accounting for Receivables 9-1
10 Plant Assets, Natural Resources, and Intangible Assets 10-1
11 Current Liabilities and Payroll Accounting 11-1
12 Accounting for Partnerships 12-1
13 Corporations: Organization and Capital Stock Transactions 13-1
14 Corporations: Dividends, Retained Earnings, and Income
Reporting 14-1
15 Long-Term Liabilities 15-1
16 Investments 16-1
17 Statement of Cash Flows 17-1
18 Financial Analysis: The Big Picture 18-1
19 Managerial Accounting 19-1
20 Job Order Costing 20-1
20A Job Order Costing (non-debit and credit approach)*
21 Process Costing 21-1
21A Process Costing (non-debit and credit approach)*
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