Introduction to Financial Accounting: A User Perspective: United States Edition

For Financial Accounting Courses.

This introduction to financial accounting and its significant role in making sound business decisions teaches students how to be wise users, not necessarily preparers of accounting information - a strong user-based approach that's endorsed and supported by the AECC. The authors present accounting information in a broader business context―emphasizing what accounting information is, why it is important, and how it is used to make economic decisions. Optional coverage of accounting procedures is included.

Mike Werner and Kumen Jones have crafted an exciting series of texts designed to meet the needs of those faculty and students who are eager to embrace a user perspective in first-year accounting.

Introduction to Financial Accounting: A User Perspective, Third Edition, covers the essential topics of financial accounting. Rather than rote memorization, the text first introduces a concept framework that emphasizes understanding of how all employees use accounting information to make effective business decisions. Additional features include:

• Optional Treatment of Debits and Credits. Starting with Chapter 7, the authors include optional appendices on debits and credits at the ends of chapters to complement the material in stand-alone Chapter 6, "Accumulating Accounting Data." This material may be included or omitted at the discretion of each faculty member.
• Annual Report Project Included in Assignment Material. Faculty members can tailor the project to suit their needs by assigning all of it or selected parts.
• NEW?Fewer Chapters. The financial portion of the text is now only 11 chapters. (Chapters 3 and 4 from the second edition are combined into a single Chapter 3 on the balance sheet.)
• NEW?Distinctive Presentation of Accounting Procedures (Chapter 6). Part I describes each step of the accounting cycle. Part II introduces debits and credits and demonstrates each accounting cycle step from journalizing transactions to closing entries.
• NEW?Integration of Financial Topics. Statement of Cash Flows and Key Financial Ratios are introduced now in Chapter 3 and are integrated throughout the text where appropriate.
• In-depth coverage of the direct method of the statement of cash flows is moved to an appendix.
• Financial statement analysis chapter presents charts for each of the 17 ratios calculated for Pier 1 Imports and two peer companies.

Introduction to Management Accounting: A User Perspective, Second Edition, maintains the authors' well-received user approach and places a high emphasis on decision making. Other unique features include:

• NEW-Separate Chapter on Cost Allocation and ABC (Chapter 4).
• User-Driven Approach to Cost Behavior (Chapters 5 and 6).
• Unique Chapter on Evaluating Performance (Chapter 11) discusses evaluation methods; centralized and decentralized management styles, business segments, return on investment and residual income; nonfinancial measures, such as quality, customer satisfaction, employee morale, employee safety, efficiency, and just-in-time philosophy.
• Distinctive Presentation of the Operating Budget (Chapter 9). Part I describes the importance and uses of the operating budget and compares/contrasts various approaches to preparation. Part II shows step-by-step preparation of the budgets that comprise the operating budget and details the use of the operating budget in the overall management process.

Of course, if you want the best of both books, then Introduction to Accounting: A User Perspective, Second Edition, is the best solution because this single volume contains the full versions of both Introduction to Financial Accounting: A User Perspective, Third Edition, and Introduction to Management Accounting: A User Perspective, Second Edition. A seamless year of principles material included within one book!

And an extensive technology support package includes Internet tools, PowerPoints, and general ledger software available to accompany each text!