Continued Emphasis on Helping Students Learn Accounting Concepts

Especially with this edition of the textbook, we have carefully scrutinized all chapter material to help students learn accounting concepts. We revised existing explanations and illustrations as well as added more explanations, examples, and illustrations. For example, we have added T-accounts in the margin to illustrate the effect of accounting procedures as well as discussed how tight credit policies nearly prevented Apple from fulfilling its first sale.

Corporate Social Responsibility

Today's companies are evaluating not just their profitability but also their corporate social responsibility. In this edition, we have profiled some of these companies in the new People, Planet, and Profit Insight boxes, such as PepsiCo, to highlight their sustainable business practices. We have also added a new Broadening Your Perspective problem, Considering People, Planet, and Profit, which offers students the opportunity to analyze current business practices.

Student-Friendly Companies

One of the goals of the financial accounting course is to orient students to the application of accounting principles and techniques in practice. Accordingly, we have expanded our practice of using numerous examples from real companies throughout the textbook to add more high-interest enterprises that we hope will increase student engagement, such as Clif Bar, Groupon, REI, and Skechers.

Enhanced Homework Material

In each chapter, we have updated Self-Test Questions, Questions, Brief Exercises, Do it! Review, Exercises, Problems, and Research Cases. Financial analysis and reporting problems have been updated in accordance with the new Tootsie Roll and Hershey financial statements. Finally, new Considering People, Planet, and Profit problems are included to offer students experience in evaluating corporate social responsibility.

Comprehensive Revision

This edition was also subject to an overall, comprehensive revision to ensure that it is technically accurate, relevant, and up-to-date. A chapter-by-chapter summary of content changes is provided in the chart on the next two pages.