New to the Twelfth Edition

• Examples and end-of-chapter material have been updated throughout the text.

• All the test bank questions have been tagged with AASCB-AICPA standards and Bloom’s Taxonomy, making it easier to tie assessment to your school’s student learning outcomes.

• Chapter 26, Internal Control and the Voucher System, was eliminated as a standalone chapter. The voucher content has been incorporated into Chapter 8.

• Internal control content has been integrated into the text where appropriate and highlighted with an icon so students can immediately see the link between the concept of internal control and the topics they’re studying.

• Chapters 23 and 24 were combined to present the financial ratios and statement analysis in one chapter.

• The full text now has only 30 chapters, making it a perfect fit for semester or quarter institutions.

• The adjusting entries have been streamlined in Chapter 12 to allow professors to better focus on those that are most relevant for students.

• Chapter 14 now discusses the activities of the Public Company Accounting Oversight Board.

• Break-even analysis coverage has been added to Chapter 25.

• International Insights and Accounting on the Job boxes have been moved to the Web site, allowing professors and students to focus on the meat of the topics presented in each chapter.

• Full media integration with iPod icons throughout the text links content back to chapter-specific quizzes, audio and visual lecture presentations, and course-related videos available for download from the text’s Web site. This gives students access to a portable, electronic learning option to support their classroom instruction.

• The Quantum Tutors for the Accounting Cycle help tutor students on the fundamental accounting concepts and problem-solving skills needed for principles, financial, and managerial accounting courses. Just like working with an excellent instructor, students can enter their own work into the software, ask questions, and receive step-by-step feedback at a detailed level not available with any other software or homework management system. The Quantum Tutors are ideal when the student needs immediate help and the instructor is not available to answer questions. Accessed over the Internet, students have unlimited, convenient access day or night and can study independently at their own pace.