HOW DOES THIS BOOK HELP STUDENTS SEE THE BIG PICTURE?

• HORIZONTAL FINANCIAL STATEMENTS MODEL: A horizontal financial statements model replaces the accounting equation as the predominant teaching platform in this text. The model arranges the balance sheet, income statement, and statement of cash flows horizontally across a single line of text as shown below. The statements model approach enables students to see how accounting relates to real-world decision making. The traditional approach teaches students to journalize a series of events and to present summarized information in financial statements. They never see how individual transactions affect financial statements. In contrast, when students record transactions into a statements model, they see a direct connection between business events and financial statements. Most business people think “if I take this particular action, how will it affect my financials,” not “if I do these fifteen things, how will they be journalized.” Accordingly, the statements model approach provides a learning experience that is more intuitive and relevant than the one provided by traditional teaching methodology.
• ESTABLISHING THE CONCEPTUAL FRAMEWORK: Chapter 1 introduces the key components of the conceptual framework for financial accounting. We expect students to master not only the definitions of financial statement elements but also the relationships between those elements. For example, the term “asset” is defined and then the term “revenue” is defined as an increase in assets. The definitions are expanded in a logical stepwise fashion. Once students have learned the elements, the text explains how to organize those elements into a set of financial statements. The financial statements model is introduced toward the end of the first chapter. Accruals and deferrals are introduced in Chapter 2 and it not only introduces new concepts but reinforces the core concepts introduced in Chapter 1. The basic conceptual components of the income statement are reinforced through repetition. By the time students have completed the first two chapters, they have a strong conceptual foundation.
• THE EFFECTS OF CASH FLOWS ARE SHOWN THROUGH THE ENTIRE TEXT: The statement of cash flows is introduced in the first chapter and included throughout the text. Students learn to prepare a statement of cash flows in the first chapter by learning to analyze each increase and decrease in the cash account. They can prepare a statement of cash flows by classifying each entry in the cash account as an operating, investing, or financing activity. This logical approach helps students understand the essential differences between cash flows and accrual-based income.
• EFFECTS OF FINANCIAL STATEMENTS OVER MULTIPLE ACCOUNTING CYCLES: The text also uses a vertical statements model that shows financial statements from top to bottom on a single page. This model displays financial results for consecutive accounting cycles in adjacent columns, thereby enabling the instructor to show how related events are reported over multiple accounting cycles.
• MANAGERIAL ACCOUNTING CONCEPTS: Traditional texts have emphasized accounting practices for manufacturing companies, while the business environment has shifted toward service companies. This text recognizes this critical shift by emphasizing decision-making concepts applicable to both service and manufacturing companies. Topics such as cost behavior, operating leverage, and cost allocation are introduced early. Traditional topics such as manufacturing cost flow, job-order costing, and process costing are deemphasized.
• A CONSISTENT POINT OF REFERENCE: Why do good students sometimes have so much trouble grasping the simplest concepts? A recent introductory accounting workshop participant supplied the answer. Most accounting events are described from the perspective of the business entity. For example, we say the business borrowed money, purchased assets, earned revenue, or incurred expenses. However, we usually shift the point of reference when describing equity transactions. We say the owners contributed capital, provided cash, or invested assets in the business. This reference shift confuses an entry-level accounting student. Your students will appreciate the fact that this text uses the business entity as a consistent point of reference in describing all accounting events. Accounting is a new language for most business students, so this text makes a conscious effort to minimize the road blocks that are frequently raised by the inconsistent use of technical terminology.
• FOCUS ON CORPORATE FORM OF ORGANIZATION: We want students to learn that businesses acquire assets from three primary sources: from creditors, from investors, and from earnings. The corporate organization structure highlights these three asset sources by using separate account categories for liabilities, contributed capital, and retained earnings. We have found the corporate form to be pedagogically superior to the proprietorship form in the educational setting. While we cover accounting for proprietorships and partnerships in a separate chapter of the text, we use the corporate form as the primary teaching platform.
• LESS IS MORE: Many educators recognize the detrimental effect of information overload. Research suggests that students resort to memorization when faced with too much content, and are unable to comprehend basic concepts. We make a conscious choice to reduce the breadth of content coverage in order to enhance student comprehension of concepts. For example, you don’t need to teach both the net and gross methods to explain how cash discounts affect financial statements. Demonstrating just one method is sufficient to demonstrate the critical interrelationships. By eliminating less critical details, this text is able to focus on developing a conceptual framework. This framework enables students to understand, rather than memorize, and less detail results in greater comprehension.
• ANNUAL REPORT: The 2003 annual report for The Topps Company, Inc., is printed in Appendix B. Business application problems related to the annual report are included at the end of each chapter. In the Annual Report and Financial Statement Analysis Projects, located on the text website and the Instructor’s Manual, projects for Topps Company are included, as well as a general purpose annual report project instructors can assign for any company’s annual report.
• EXCEL SPREADSHEETS: Spreadsheet applications are essential to contemporary accounting practice. Students must recognize the power of spreadsheets and know how accounting data are presented in spreadsheets. We discuss Excel applications where appropriate throughout the text. In most instances, the text illustrates actual spreadsheets. End-of-chapter materials include problems students can complete using spreadsheet software.
• USER-FRIENDLY WRITING STYLE: Every chapter of the text has been designed to encourage students to read the book. Students will find the content easy to read and comprehend.
• THE CURIOUS ACCOUNTANT: Each chapter opens with a short vignette that sets the stage and helps pique student interest. These pose a question about a real-world accounting issue related to the topic of the chapter. The answer to the question appears in a separate sidebar a few pages further into the chapter.
• FOCUS ON INTERNATIONAL ISSUES: These boxed inserts expose students to international issues in accounting.
• CHECK YOURSELF: These short question/answer features occur at the end of each main topic and ask students to stop and think about the material just covered. The answer follows to provide immediate feedback before students go on to a new topic.
• REALITY BYTES: This feature provides examples or expansions of the topics presented by highlighting companies and showing how they use the accounting concepts discussed in the chapter to make business decisions.
• THE FINANCIAL ANALYST: Financial statement analysis is highlighted in each chapter under this heading.
• A LOOK BACK / A LOOK FORWARD: Students need a roadmap to make sense of where the chapter topics fit into the whole picture. A Look Back reviews the chapter material and a Look Forward introduces new material to come in the next chapter.
• SELF-STUDY REVIEW PROBLEM: These sections offer problems and solutions of major chapter concepts.
• EXERCISE AND PROBLEM SETS:
  • Check figures: The figures provide a quick reference for students to check on their progress in solving the problem. These are included for all problems in Series A.
  • Excel: Many exercises and problems can be solved using the Excel™ spreadsheet templates contained on the text’s Online Learning Center. A logo appears in the margins next to these exercises and problems for easy identification.
• ANALYZE, THINK, COMMUNICATE (ATC): Each chapter includes an innovative section entitled Analyze, Think, Communicate (ATC). This section contains: Business application cases related to the annual reports from Harley- Davidson and Topps Company
• McGRAW-HILL’S HOMEWORK MANAGER™: McGraw-Hill's Homework Manager is a web-based homework management system that gives you unparalleled power and flexibility in creating homework assignments, tests, and quizzes. Homework Manager duplicates problem structures directly from the end-of-chapter material in your McGraw-Hill textbook, using algorithms to provide limitless variations of textbook problems. Use Homework Manager to supply online self-graded practice for students, or create assignments and tests with unique versions of every problem: Homework Manager can grade assignments automatically, provide instant feedback to students, and store all results in your private gradebook. Detailed results let you see at a glance how each student does and easily track the progress of every student in your course.
• McGRAW-HILL’S HOMEWORK MANAGER PLUS™: McGraw-Hill's Homework Manager Plus combines the power of Homework Manager with the latest interactive learning technology to create a comprehensive, fully integrated online study package. Students using Homework Manager Plus can access not only Homework Manager itself, but the Interactive Online Textbook as well. Far more than a textbook on a screen, this resource is completely integrated into Homework Manager, allowing students working on assignments to click a hotlink and instantly review the appropriate material in the textbook. NetTutor rounds out the package by offering live tutoring with a qualified expert in the course material, using our innovative virtual whiteboard to allow student and tutor to communicate in real time. By including Homework Manager Plus with your textbook adoption, you're giving your students a vital edge as they progress through the course and ensuring that the help they need is never more than a mouse click away.
• NETTUTOR: Many students work or have other commitments outside of class, making it difficult for them to get help with their questions during regular school hours. NetTutor connects students with qualified tutors online. Students can work with an online tutor in real time, or post a question to be answered within 24 hours. Only available through Homework Manager Plus, adopters receive unlimited tutoring time on NetTutor.
• INTERACTIVE ONLINE VERSION OF THE TEXTBOOK: In addition to the textbook, students can rely on this online version of the text for a convenient way to study. While other publishers offer a simple PDF, this interactive Web-based textbook contains hotlinks to key definitions and is integrated with Homework Manager to give students quick access to relevant content as they work through problems, exercises, and practice quizzes.
• ONLINE LEARNING CENTER (OLC):-- www.mhhe.com/edmonds/survey-- More and more students are studying online. That’s why we offer an Online Learning Center (OLC) that follows Survey of Accounting chapter by chapter. The OLC now includes the following:
  • Excel Spreadsheets
  • Spreadsheet Tips
  • Text Updates
  • Glossary
  • Key Term Flashcards
  • Chapter Learning Objectives
  • Interactive Quizzes
  • E Lectures (audio-narrated slide presentations)
  • Additional Check Figures
  • Mobile Resources
  • For instructors, the book’s secured OLC contains essential course materials. You can pull all of this material into your PageOut course syllabus or use it as part of another online course management system. It doesn’t require any building or maintenance on your part. It’s ready to go the moment you type in the URL.
• ALEKS: ALEKS for the Accounting Cycle and ALEKS for Financial Accounting ALEKS (Assessment and Learning in Knowledge Spaces) provides precise assessment and individualized instruction in the fundamental skills your students need to succeed in accounting. ALEKS motivates your students because it can tell what a student knows, doesn’t know, and is most ready to learn next. ALEKS uses an artificial intelligence engine to exactly identify a student’s knowledge of accounting. To learn more about adding ALEKS to your accounting course, visit www.business.aleks.com.
• CPS CLASSROOM PERFORMANCE SYSTEM: This is a revolutionary system that brings ultimate interactivity to the classroom. CPS is a wireless response system that gives you immediate feedback from every student in the class. CPS units include easy-to-use software for creating and delivering questions and assessments to your class. With CPS you can ask subjective and objective questions. Then every student simply responds with their individual, wireless response pad, providing instant results. CPS is the perfect tool for engaging students while gathering important assessment data.
• PAGE OUT: McGraw-Hill’s Course Management System PageOut is the easiest way to create a website for your accounting course. Just fill in a series of boxes with plain English and click on one of our professional designs. In no time your course is online with a website that contains your syllabus. If you need help, our team of specialists is ready to take your course materials and build a custom website to your specifications. To learn more visit www.pageout.net.
• ONLINE COURSE MANAGEMENT WEBCT, ECOLLEGE, AND BLACKBOARD: We offer Survey of Accounting content for complete online courses. You can customize the Online Learning Center content and author your own course materials. No matter which online course solution you choose, you can count on the highest level of support. Our specialists offer free training and answer any question you have through the life of your adoption.