ISE Introductory Financial Accounting for Business

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.

Table of Contents:
Chapter 1: An Introduction to Accounting Chapter 2: Accounting for Accruals Chapter 3: Accounting for Deferrals Chapter 4: Accounting for Merchandising Businesses Chapter 5: Accounting for Inventories Chapter 6: Internal Control and Accounting for Cash Chapter 7: Accounting for Receivables Chapter 8: Accounting for Long-Term Operational Assets Chapter 9: Accounting for Current Liabilities and Payroll Chapter 10: Accounting for Long-Term Debt Chapter 11: Proprietorships, Partnerships, and Corporations Chapter 12: Statement of Cash Flows Chapter 13: The Double-Entry Accounting System Chapter 14: Financial Statement Analysis (Available online in Connect) Appendix A: Accessing the EDGAR Database through the Internet Appendix B: Portion of the Form 10-K for Target Corporation Appendix C: Summary of Financial Ratios Appendix D: General Ledger Capstone Project Appendix E: Capstone Financial Statement Analysis and Annual Report Projects Appendix F: Accounting for Investment Securities Appendix G: Time Value of Money Appendix H: Big Data and Data Visualizations Overview Appendix I: Chart of Accounts