Students are often overwhelmed by the amount of information presented in the introductory financial accounting course. By focusing on fundamental concepts in a logical sequence, students are able to fully comprehend the material rather than memorize seemingly unrelated terms and topics. The goal of "Fundamental Financial Accounting Concepts" is to enable students to understand how any given business event affects the financial statements. The 'financial statements model' is a highly praised feature because it allows students to visualize the simultaneous impact of business events on all of the key financial statements (the income statement, the balance sheet, and the statement of cash flows).
Table of Contents
Fundamental Financial Accounting Concepts, 7th Edition Chapter 1: An Introduction to Accounting Chapter 2: Understanding the Accounting Cycle Chapter 3: The Double-Entry Accounting System Chapter 4: Accounting for Merchandising Businesses Chapter 5: Accounting for Inventories Chapter 6: Internal Control and Accounting for Cash Chapter 7: Accounting for Receivables Chapter 8: Accounting for Long-Term Operational Assets Chapter 9: Accounting for Current Liabilities and Payroll Chapter 10: Accounting for Long-Term Debt Chapter 11: Proprietorships, Partnerships, and Corporations Chapter 12: Statement of Cash Flow Chapter 13: (Online) Financial Statement Analysis Appendix A: Accessing the EDGAR Database through the Internet Appendix B: Portion of the Form 10-K for Target Corporation Appendix C: Summary of Financial Ratios Appendix D: Annual Report and Financial Statement Analysis Project Appendix E: Accounting for Investment Securities Appendix F: Time Value of Money
Thomas P. Edmonds, Ph.D.: Dr. Edmonds is Professor of Accountancy at the University of Alabama at Birmingham, (UAB). He has been actively involved in teaching accounting principles throughout his academic career. He has received several prestigious teaching awards, including the UAB President's Excellence in Teaching Award and the distinguished Ellen Gregg Ingalls Award for excellence in classroom teaching. His academic experience includes being published in the Journal of Accounting Education, the Accounting Review, and the Journal of Accounting, Auditing and Finance among others. Dr. Edmonds received his Ph.D. in Accounting from Georgia State University.y. Frances M. McNair, Ph.D., CPA: Dr. McNair holds the KPMG Peat Marwick Professorship of Accounting at Mississippi State University, (MSU) and received her Ph.D. in Accounting from the University of Mississippi. Her research has been published in the Journal of Accountancy, Management Accounting, and the Business and Professional Ethics Journal. Philip R. Olds, Ph.D., CPA: Dr. Olds is Professor of Accounting at Virginia Commonwealth University, and received his Ph.D. from Georgia State University.