Principles of Accounting 12th Edition

Book Preface

In developing and refining the twelfth edition of Principles of Accounting, we wanted to ensure that we were creating a textbook that truly reflected the way we teach accounting. To do so, we asked for feedback from over 150 professors, other professional colleagues, and students. We want to recognize those who made special contributions to our efforts in preparing this edition through their reviews, suggestions, and participation in surveys, interviews, and focus groups. We cannot begin to say how grateful we are for the feedback from the many instructors who have generously shared their responses and teaching experiences with us.

Content

1 Accounting Principles and the Financial Statements 1
2 Analyzing and Recording Business Transactions 39
3 Adjusting the Accounts 85
4 Completing the Accounting Cycle 131
5 Foundations of Financial Reporting and the Classified Balance Sheet 169
6 Accounting for Merchandising Operations 205
SUPPLEMENT to Chapter 6 Special-Purpose Journals 249
7 Inventories 263
8 Cash and Internal Control 301
9 Receivables 335
10 Long-Term Assets 367
11 Current Liabilities and Fair Value Accounting 409
12 Accounting for Partnerships 451
13 Accounting for Corporations 491
14 Long-Term Liabilities 545
15 The Statement of Cash Flows 601
SUPPLEMENT to Chapter 15 The Direct Method of Preparing the Statement of Cash Flows 649
16 Financial Statement Analysis 659
SUPPLEMENT to Chapter 16 How to Read an Annual Report 715
17 Managerial Accounting and Cost Concepts 759
18 Costing Systems: Job Order Costing 803
19 Costing Systems: Process Costing 843
20 Valued-Based Systems: Activity-Based Costing and Lean Accounting 881
21 Cost-Volume-Profit Analysis 921
22 The Budgeting Process 957
23 Flexible Budgets and Performance Analysis 1005
24 Standard Costing and Variance Analysis 1047
25 Short-Run Decision Analysis and Capital Budgeting 1089
Appendix A Investments 1131
Appendix B Present Value Tables 1147
Endnotes 1155
Glossary 1159
Company Name Index 1176
Subject Index 1178