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Learning Financial Accounting can often feel like learning a foreign language to students. Before students even grasp the underlying concepts of Accounting, they are immersed in unfamiliar terms, and before students fully realize the purpose of financial statements, they are asked to make detailed recording procedures. This early emphasis on terminology and recording can be a struggle for non-accounting majors to see the relevancy, leading to increased dropouts and higher failure rates. This creates a challenge for Financial Accounting instructors, who must balance the need to engage and retain non-majors while fully preparing Accounting majors for the next level. The authors of Introductory Financial Accounting for Business offer a solution emphasizing an analytical approach to Accounting – teaching students to think like business professionals and speak in terms of bottom-line consequences: How will a given transaction impact my overall business? How can I make better business decisions whether I’m an accountant, manager, or entrepreneur? Business leaders are demanding that new graduates have these critical thinking skills in order to handle a rapidly changing modern business environment. Today's students will encounter new technological advances in automated data capture, data analytics, and artificial intelligence – processes that are automating traditional recording procedures. Rather than tallying transactions, students will be required to analyze and interpret data, making decisions early and often and thinking like business professionals. The Edmonds/Olds team’s fresh approach and modern pedagogy helps prepare students for their business careers.
Designed for students studying introductory financial accounting as part of a business degree or MBA, this textbook includes examples and exercises to aid students' understanding.
Accurate accounting is the key to a successful business. But when you’re dealing with assets and liabilities, profit and loss, and debits and credits, juggling all the numbers can quickly get confusing. Introductory Accounting gives you everything you need to know about basic financial accounting to manage your dollars and cents and keep your accounts in order. Ideal for small businesses, as well as any large company bookkeeper, this book covers: • Structuring your business and choosing an accounting method. • Setting up an accounting system and basic operating procedures (tracking sales, determining costs, managing cash, etc.). • Creating employee records, maintaining a payroll system, and accounting for benefits. • Keeping tax and benefit records. • Reporting costs. • Closing out cash journals and employee accounts at month-end and balancing ledgers. • Preparing month-end and year-end statements and reports. • Producing a balance sheet and monthly profit-and-loss (P&L) statements. • Using accounting software.
For one-term courses in Financial Accounting at the undergraduate and graduate levels. This best-selling text offers a relevant, real-world approach to financial accounting theory, terminology, and procedures. Students learn how to comprehend a typical corporate annual report and to use accounting as a tool in understanding how economic events affect business. An exceptionally strong pedagogy and flexible structure provide instructors with great latitude in choosing various combinations of breadth and depth, theory and procedures, simplicity and complexity. Simple concepts are introduced early and revisited at more sophisticated levels as students gain sophistication and understanding, and concepts are made concrete at every step with actual, current company illustrations. An extensive selection of supplements help students move beyond the text for hands-on experience with the real world of financial accounting.