Financial and Managerial Accounting, 2nd Edition

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    Financial and Managerial Accounting, 2nd Edition

    By Jerry J. Weygandt, Paul D. Kimmel, and Donald E. Kieso

    Financial and Managerial Accounting, 2nd Edition is ideal for a two-semester Financial and Managerial Accounting sequence where students spend equal time learning financial and managerial accounting concepts while learning about the accounting cycle from a corporate perspective. This program begins by introducing students to the building blocks of the accounting cycle and builds to financial statements.

    The new WileyPLUS Course Update offers newly designed assessment material and updated interactive tutorials all designed to enhance the student’s online learning experience. Financial and Managerial Accounting, 2nd Edition WileyPLUS Course Update offers instructors more algorithmic questions, pre-created assignments, and new online content updates.

    Available Digital Formats

    Instructors

    Featured Content

    What's Inside

    Students engage in real-world problem solving.

    A new design for all assessment and practice questions presents students with a clean blank sheet of paper interface. Improved navigation and a more modern design give students a simple and more real-world experience.

    Algorithmic Test Bank Questions are now available in WileyPLUS.

    New algorithmic, multiple-choice test bank questions in WileyPLUS allow instructors to assign questions where the values and company names change. These questions provide an additional layer of security and academic integrity to the assessment process.

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    Students have immediate access to interactive tutorials.

    The new Interactive Tutorials allow students to review content and respond to interactive questions in the videos anytime, anywhere.

    FEATURES INCLUDE

    • Additional Solution Walkthrough Videos from author Paul Kimmel
    • Real-World Financial Business Videos
    • Solution Feedback at the end of each chapter and in the Test Bank incorporated into WileyPLUS
    • Quick Start Assignments that will help instructors assign tests more easily

    About the Authors

    weygandt

    JERRY J. WEYGANDT

    Jerry J. Weygandt, PhD, CPA, is Arthur Andersen Alumni Emeritus Professor of Accounting at the University of Wisconsin-Madison. He holds a PhD in accounting from the University of Illinois. Articles by Professor Weygandt have appeared in the Accounting Review, Journal of Accounting Research, Accounting Horizons, Journal of Accountancy, and other academic and professional journals. These articles have examined such financial reporting issues as accounting for price-level adjustments, pensions, convertible securities, stock option contracts, and interim reports. Professor Weygandt is author of other accounting and financial reporting books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Wisconsin Society of Certified Public Accountants. He has served on numerous committees of the American Accounting Association and as a member of the editorial board of the Accounting Review; he also has served as President and Secretary-Treasurer of the American Accounting Association. In addition, he has been actively involved with the American Institute of Certified Public Accountants and has been a member of the Accounting Standards Executive Committee (AcSEC) of that organization. He has served on the FASB task force that examined the reporting issues related to accounting for income taxes and served as a trustee of the Financial Accounting Foundation. Professor Weygandt has received the Chancellor’s Award for Excellence in Teaching and the Beta Gamma Sigma Dean’s Teaching Award. He is the recipient of the Wisconsin Institute of CPA’s Outstanding Educator’s Award and the Lifetime Achievement Award. In 2001 he received the American Accounting Association’s Outstanding Educator Award.

    kimmel

    PAUL D. KIMMEL

    Paul D. Kimmel, PhD, CPA, received his bachelor’s degree from the University of Minnesota and his doctorate in accounting from the University of Wisconsin. He is an Associate Professor at the University of Wisconsin-Milwaukee and has public accounting experience with Deloitte & Touche (Minneapolis). He was the recipient of the UWM School of Business Advisory Council Teaching Award, the Reggie Taite Excellence in Teaching Award, and a three-time winner of the Outstanding Teaching Assistant Award at the University of Wisconsin. He is also a recipient of the Elijah Watts Sells Award for Honorary Distinction for his results on the CPA exam. He is a member of the American Accounting Association and the Institute of Management Accountants and has published articles in Accounting Review, Accounting Horizons, Advances in Management Accounting, Managerial Finance, Issues in Accounting Education, Journal of Accounting Education, as well as other journals. His research interests include accounting for financial instruments and innovation in accounting education. He has published papers and given numerous talks on incorporating critical thinking into accounting education and helped prepare a catalog of critical thinking resources for the Federated Schools of Accountancy.

    kieso

    DONALD E. KIESO

    Donald E. Kieso, PhD, CPA, received his bachelor’s degree from Aurora University and his doctorate in accounting from the University of Illinois. He has served as chairman of the Department of Accountancy and is currently the KPMG Emeritus Professor of Accountancy at Northern Illinois University. He has public accounting experience with Price Waterhouse & Co. (San Francisco and Chicago) and Arthur Andersen & Co. (Chicago) and research experience with the Research Division of the American Institute of Certified Public Accountants (New York). He has done post doctorate work as a Visiting Scholar at the University of California at Berkeley and is a recipient of NIU’s Teaching Excellence Award and four Golden Apple Teaching Awards. Professor Kieso is the author of other accounting and business books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Illinois CPA Society. He has served as a member of the Board of Directors of the Illinois CPA Society, then AACSB’s Accounting Accreditation Committees, the State of Illinois Comptroller’s Commission, as Secretary-Treasurer of the Federation of Schools of Accountancy, and as Secretary-Treasurer of the American Accounting Association. Professor Kieso is currently serving on the Board of Trustees and Executive Committee of Aurora University, as a member of the Board of Directors of Kishwaukee Community Hospital, and as Treasurer and Director of Valley West Community Hospital. From 1989 to 1993, he served as a charter member of the national Accounting Education Change Commission. He is the recipient of the Outstanding Accounting Educator Award from the Illinois CPA Society, the FSA’s Joseph A. Silvoso Award of Merit, the NIU Foundation’s Humanitarian Award for Service to Higher Education, a Distinguished Service Award from the Illinois CPA Society, and an honorary doctorate from Aurora University in 2003.

    Table of Contents

    Chapter 1: Accounting in Action
    Chapter 2: The Recording Process
    Chapter 3: Adjusting the Accounts
    Chapter 4: Completing the Accounting Cycle
    Chapter 5: Accounting for Merchandising Operations
    Chapter 6: Inventories
    Chapter 7: Fraud, Internal Control, and Cash
    Chapter 8: Accounting for Receivables
    Chapter 9: Plant Assets, Natural Resources, and Intangible Assets
    Chapter 10: Liabilities
    Chapter 11: Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings
    Chapter 12: Investments
    Chapter 13: Statement of Cash Flows
    Chapter 14: Financial Statement Analysis
    Chapter 15: Managerial Accounting
    Chapter 16: Job Order Costing
    Chapter 17: Process Costing
    Chapter 18: Activity-Based Costing
    Chapter 19: Cost-Volume-Profit
    Chapter 20: Cost-Volume-Profit Analysis: Additional Issues
    Chapter 21: Incremental Analysis
    Chapter 22: Pricing
    Chapter 23: Budgetary Planning
    Chapter 24: Budgetary Control and Responsibility Accounting
    Chapter 25: Standard Costs and Balanced Scorecard
    Chapter 26: Planning for Capital Investments
    A Specimen Financial Statements: Apple, Inc.
    B Specimen Financial Statements: PepsiCo, Inc.
    C Specimen Financial Statements: The Coca-Cola Company
    D Specimen Financial Statements: Amazon.com, Inc.
    E Specimen Financial Statements: Wal-Mart Stores, Inc.
    F Specimen Financial Statements: Louis Vuitton
    G Time Value of Money
    H Payroll Accounting
    I Subsidiary Ledgers and Special Journals
    J Other Significant Liabilities
    K Standards of Ethical Conduct for Management Accountants
    Cases for Managerial Decision-Making

    Resources

    INSTRUCTOR RESOURCES

    • Accounting Weekly Updates (wileyaccountingupdates.com): Delivers the latest news relevant to your Accounting WileyPLUS course (password only available to current users)
    • Managerial Accounting Video Series (wiley.com//college/managerialvideos): Videos that engage students with a dynamic overview of managerial accounting topics presented through real-world examples
    • PowerPoint Presentations: Contain a combination of key concepts and problems from the textbook
    • Instructor’s Manual: Includes lecture outlines, chapter reviews, a sample syllabus, and an end-of-chapter correlation guide
    • Key Figures Checklist: Reference tool that students can use to confirm they are on the right track when working longer problems
    • Solutions Manual: Contains solutions to all exercises and problems in the text as well as suggested answers to the cases
    • Test Bank and Computerized Test Bank: Provides assessment questions that allow instructors to tailor examinations according to multiple learning outcomes
    • End-of-Chapter Correlation Chart: A handy tool for current users moving to the new edition that helps with assignment planning and identifying favorite problems in the new edition

    STUDENT RESOURCES

    • Excel Templates: Allow students to complete end-of-chapter exercises and problems identified by a spreadsheet icon in the margin of the textbook
    • Excel Tutorial Videos: Brief videos that explain how to apply Excel concepts to specific managerial accounting topics
    • Excel Working Papers and Printed Working Papers: Templates that help students correctly format their textbook accounting solutions and Excel Working Papers available in WileyPLUS

    Students engage in real-world problem solving.

    A new design for all assessment and practice questions presents students with a clean blank sheet of paper interface. Improved navigation and a more modern design give students a simple and more real-world experience.

    Algorithmic Test Bank Questions are now available in WileyPLUS.

    New algorithmic, multiple-choice test bank questions in WileyPLUS allow instructors to assign questions where the values and company names change. These questions provide an additional layer of security and academic integrity to the assessment process.

    sox

    Students have immediate access to interactive tutorials.

    The new Interactive Tutorials allow students to review content and respond to interactive questions in the videos anytime, anywhere.

    FEATURES INCLUDE

    • Additional Solution Walkthrough Videos from author Paul Kimmel
    • Real-World Financial Business Videos
    • Solution Feedback at the end of each chapter and in the Test Bank incorporated into WileyPLUS
    • Quick Start Assignments that will help instructors assign tests more easily
    weygandt

    JERRY J. WEYGANDT

    Jerry J. Weygandt, PhD, CPA, is Arthur Andersen Alumni Emeritus Professor of Accounting at the University of Wisconsin-Madison. He holds a PhD in accounting from the University of Illinois. Articles by Professor Weygandt have appeared in the Accounting Review, Journal of Accounting Research, Accounting Horizons, Journal of Accountancy, and other academic and professional journals. These articles have examined such financial reporting issues as accounting for price-level adjustments, pensions, convertible securities, stock option contracts, and interim reports. Professor Weygandt is author of other accounting and financial reporting books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Wisconsin Society of Certified Public Accountants. He has served on numerous committees of the American Accounting Association and as a member of the editorial board of the Accounting Review; he also has served as President and Secretary-Treasurer of the American Accounting Association. In addition, he has been actively involved with the American Institute of Certified Public Accountants and has been a member of the Accounting Standards Executive Committee (AcSEC) of that organization. He has served on the FASB task force that examined the reporting issues related to accounting for income taxes and served as a trustee of the Financial Accounting Foundation. Professor Weygandt has received the Chancellor’s Award for Excellence in Teaching and the Beta Gamma Sigma Dean’s Teaching Award. He is the recipient of the Wisconsin Institute of CPA’s Outstanding Educator’s Award and the Lifetime Achievement Award. In 2001, he received the American Accounting Association’s Outstanding Educator Award.

    kimmel

    PAUL D. KIMMEL

    Paul D. Kimmel, PhD, CPA, received his bachelor’s degree from the University of Minnesota and his doctorate in accounting from the University of Wisconsin. He is an Associate Professor at the University of Wisconsin-Milwaukee and has public accounting experience with Deloitte & Touche (Minneapolis). He was the recipient of the UWM School of Business Advisory Council Teaching Award, the Reggie Taite Excellence in Teaching Award, and a three-time winner of the Outstanding Teaching Assistant Award at the University of Wisconsin. He is also a recipient of the Elijah Watts Sells Award for Honorary Distinction for his results on the CPA exam. He is a member of the American Accounting Association and the Institute of Management Accountants and has published articles in Accounting Review, Accounting Horizons, Advances in Management Accounting, Managerial Finance, Issues in Accounting Education, Journal of Accounting Education, as well as other journals. His research interests include accounting for financial instruments and innovation in accounting education. He has published papers and given numerous talks on incorporating critical thinking into accounting education and helped prepare a catalog of critical thinking resources for the Federated Schools of Accountancy.

    kieso

    DONALD E. KIESO

    Donald E. Kieso, PhD, CPA, received his bachelor’s degree from Aurora University and his doctorate in accounting from the University of Illinois. He has served as chairman of the Department of Accountancy and is currently the KPMG Emeritus Professor of Accountancy at Northern Illinois University. He has public accounting experience with Price Waterhouse & Co. (San Francisco and Chicago) and Arthur Andersen & Co. (Chicago) and research experience with the Research Division of the American Institute of Certified Public Accountants (New York). He has done post doctorate work as a Visiting Scholar at the University of California at Berkeley and is a recipient of NIU’s Teaching Excellence Award and four Golden Apple Teaching Awards. Professor Kieso is the author of other accounting and business books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Illinois CPA Society. He has served as a member of the Board of Directors of the Illinois CPA Society, then AACSB’s Accounting Accreditation Committees, the State of Illinois Comptroller’s Commission, as Secretary-Treasurer of the Federation of Schools of Accountancy, and as Secretary-Treasurer of the American Accounting Association. Professor Kieso is currently serving on the Board of Trustees and Executive Committee of Aurora University, as a member of the Board of Directors of Kishwaukee Community Hospital, and as Treasurer and Director of Valley West Community Hospital. From 1989 to 1993, he served as a charter member of the national Accounting Education Change Commission. He is the recipient of the Outstanding Accounting Educator Award from the Illinois CPA Society, the FSA’s Joseph A. Silvoso Award of Merit, the NIU Foundation’s Humanitarian Award for Service to Higher Education, a Distinguished Service Award from the Illinois CPA Society, and an honorary doctorate from Aurora University in 2003.

    Chapter 1: Accounting in Action
    Chapter 2: The Recording Process
    Chapter 3: Adjusting the Accounts
    Chapter 4: Completing the Accounting Cycle
    Chapter 5: Accounting for Merchandising Operations
    Chapter 6: Inventories
    Chapter 7: Fraud, Internal Control, and Cash
    Chapter 8: Accounting for Receivables
    Chapter 9: Plant Assets, Natural Resources, and Intangible Assets
    Chapter 10: Liabilities
    Chapter 11: Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings
    Chapter 12: Investments
    Chapter 13: Statement of Cash Flows
    Chapter 14: Financial Statement Analysis
    Chapter 15: Managerial Accounting
    Chapter 16: Job Order Costing
    Chapter 17: Process Costing
    Chapter 18: Activity-Based Costing
    Chapter 19: Cost-Volume-Profit
    Chapter 20: Cost-Volume-Profit Analysis: Additional Issues
    Chapter 21: Incremental Analysis
    Chapter 22: Pricing
    Chapter 23: Budgetary Planning
    Chapter 24: Budgetary Control and Responsibility Accounting
    Chapter 25: Standard Costs and Balanced Scorecard
    Chapter 26: Planning for Capital Investments
    A Specimen Financial Statements: Apple, Inc.
    B Specimen Financial Statements: PepsiCo, Inc.
    C Specimen Financial Statements: The Coca-Cola Company
    D Specimen Financial Statements: Amazon.com, Inc.
    E Specimen Financial Statements: Wal-Mart Stores, Inc.
    F Specimen Financial Statements: Louis Vuitton
    G Time Value of Money
    H Payroll Accounting
    I Subsidiary Ledgers and Special Journals
    J Other Significant Liabilities
    K Standards of Ethical Conduct for Management Accountants
    Cases for Managerial Decision-Making

    INSTRUCTOR RESOURCES

    • Accounting Weekly Updates (wileyaccountingupdates.com): Delivers the latest news relevant to your Accounting WileyPLUS course (password only available to current users)
    • Managerial Accounting Video Series (wiley.com//college/managerialvideos): Videos that engage students with a dynamic overview of managerial accounting topics presented through real-world examples
    • PowerPoint Presentations: Contain a combination of key concepts and problems from the textbook
    • Instructor’s Manual: Includes lecture outlines, chapter reviews, a sample syllabus, and an end-of-chapter correlation guide
    • Key Figures Checklist: Reference tool that students can use to confirm they are on the right track when working longer problems
    • Solutions Manual: Contains solutions to all exercises and problems in the text as well as suggested answers to the cases
    • Test Bank and Computerized Test Bank: Provides assessment questions that allow instructors to tailor examinations according to multiple learning outcomes
    • End-of-Chapter Correlation Chart: A handy tool for current users moving to the new edition that helps with assignment planning and identifying favorite problems in the new edition

    STUDENT RESOURCES

    • Excel Templates: Allow students to complete end-of-chapter exercises and problems identified by a spreadsheet icon in the margin of the textbook
    • Excel Tutorial Videos: Brief videos that explain how to apply Excel concepts to specific managerial accounting topics
    • Excel Working Papers and Printed Working Papers: Templates that help students correctly format their textbook accounting solutions and Excel Working Papers available in WileyPLUS

    Paul Kimmel on WileyPLUS with ORION

    Watch this quick video to see how Paul Kimmel successfully integrates WileyPLUS with ORION in the course he teaches. For a full sample syllabus, please contact us.