Patricia Libby,
Ithaca College Robert Libby,
Cornell University Fred Phillips,
University of Saskatchewan Stacey Whitecotton,
Arizona State University
ISBN: 0073526843 Copyright year: 2009
Feature Summary
Teaching Accounting in the Context of Business
For a great number of students, this is their first course in business and this book wants students to understand why accounting matters and how it relates to starting, establishing and operation a business. It’s the true story about Mauricio Rosa from El Salvador and how he starts his own business, Pizza Aroma, a small pizza company in upstate New York. It’s about being a successful business owner and the realities of using accounting in a real business. It’s about engaging the students with a continuous focus company in the opening 4 chapters so they see the story unfold, the business become established and the role accounting played. Focus Company Approach
The authors first introduced their trademark focus company approach as the best method for helping students understand financial statements and real world implications of financial accounting for future managers. This approach shows that accounting is relevant and motivates students by explaining accounting in a real-world context. In each chapter, the material is integrated around a familiar focus company, its decisions, and its financial statements. This provides the perfect setting for discussing the importance of accounting and how businesses use accounting information. Furthering its real-world applicability, the end-of-chapter cases tie directly to the Home Depot Annual Report and the contrasting report from Lowe’s Form 10-K in Appendix C. This gives students valuable practice reading and interpreting real financial data. In addition, real-world excerpts expand on important chapter topics with insight into how real firms use financial accounting to their competitive advantage.Overcoming the Accounting Cycle Hurdle - Slowing Down Coverage of Transaction Analysis
Almost all faculty agree that mastery of the accounting cycle is critical to success in principles of accounting. And yet all other books introduce and develop transaction analysis in one chapter, bombarding a student early in the course with an overload of new concepts and terms. The authors believe that most faculty take more time with the accounting cycle, but other principles of accounting textbooks don’t. By slowing down the introduction of transactions and giving students time to practice and gain mastery, this building-block approach leads to earlier student success in their course of later topics in financial accounting.Technology
Students have different learning styles and conflicting time commitments, so they want technology tools that help them study more efficiently and effectively. McGraw-Hill’s Homework Manager and Homework Manager Plus, iPod downloadable content, and ALEKS provide students with three powerful tools tied directly to the textbook, which will help them maximize their study time and make their learning experience more enjoyable. In addition, the Algorithmic Test Bank allows instructors to create an infinite number of algorithm-generated quizzes and test assignments, and gives students an endless number of problems with which to practice.
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2009 McGraw-Hill Higher Education