New Features:

• New Global Business and Accounting Chapter brings the world into the classroom through discussions of globalization, global environmental forces, foreign currency, and global financial reporting standards among other topics. New International Financial Reporting Standards (IFRS) coverage throughout the book introduces students to the concept in relation to important topics in accounting such as LIFO, statement of cash flows, and fixed assets
• NEW! McGraw-Hill’s Connect uses end-of-chapter material pulled directly from the textbook to create static and algorithmic questions that can be used for homework and practice tests

Retained Features:

• Selected excerpts from the 2007 Home Depot Financial Statements appear in the text appendix and are incorporated into end-of-chapter problem material. Students gain valuable practical experience reading and analyzing real-world financial statements.
• Unstructured Cases in Chapter 5 address Sarbanes-Oxley (SOX) issues.
• Color-coded Accounting Cycle – Students often struggle when learning to record transactions. To help with this challenging topic (starting in chapter three), the authors have broken the process down into four easy steps that are uniform, color-coded, and tied to the accounting equation. Step 1: Analysis—which accounts were recorded with an increase or decrease. Step 2: Debit/Credit rules—This helps students remember whether the account should be debited or credited. Step 3: The Journal Entry is shown to illustrate what has happened in the 2 previous steps. Step 4: The ledger T-accounts are shown.
• Ethics, Fraud & Corporate Governance – Boxed examples on Ethics, Fraud & Corporate Governance appear throughout the book, highlighting the importance of these topics in business today. The EOC material also includes cases on these topics (specifically marked with an icon) to alert students to dilemmas they will encounter in the real world.
• Comprehensive Problems Give Students “The Big Picture” – These problems, which occur every three to six chapters, challenge students by incorporating all the skill sets they have learned in the previous chapters into one inclusive “case-exercise.” This distinctive feature not found in most texts allows students to identify the strengths and realize where they might need to brush up. Clearly, students also find these very helpful in studying for exams.
• My Mentor – Available on the Online Learning Center. This text-specific resource demonstrates accounting concepts visually, to show students how everyday business events (such as selling goods and services) turn into accounting numbers. My Mentor uses animated info-graphics to first represent a business event visually, so that students can understand it at a visual level, then shows the transaction a second time, but with numbers so the student can relate the concept to the numerical transaction. Finally, students practice with Excel spreadsheet exercises that show application of concepts and how they impact financial statements. Video clips are included for each segment.