Introductory Financial Accounting for Business 2nd Edition by Thomas Edmonds, ISBN-13: 978-1260814446
[PDF eBook eTextbook]
- Publisher: McGraw Hill; 2nd edition (January 7, 2020)
- Language: English
- 816 pages
- ISBN-10: 1260814440
- ISBN-13: 978-1260814446
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
Mark A. Edmonds, Ph.D., CPA, is an assistant professor in the Department of Accounting and Finance at the University of Alabama at Birmingham. He has taught principles and advanced accounting classes in face-to-face, flipped, and online formats. Dr. Edmonds began his career providing assurance services for the internationally recognized accounting firm Ernst & Young. At the conclusion of his professional service, he obtained his Ph.D. from Southern Illinois University Carbondale. He serves as the education adviser on the board of the Institute of Internal Auditors Birmingham Chapter. Dr. Edmonds’s research focuses on alternative learning strategies and auditor decision making.
Jennifer Echols Edmonds, Ph.D., is an Associate Professor at the UAB Collat School of Business. Her primary teaching areas are financial and managerial accounting. She has experience teaching in the Undergraduate, MAC, and MBA programs and currently serves as the course coordinator for the managerial accounting sequence at UAB. She has received the UAB Loudell Ellis Robinson Classroom Teaching Award, as well as teaching grants from Deloitte, UAB, and Virginia Tech. She created teaching resources for incorporating International Financial Reporting Standards into Intermediate Accounting. The teaching resources were drafted online at the American Accounting Association. Dr. Edmonds is also active in the research community. She has drafted articles in prominent journals such as Journal of Accounting and Public Policy, Advances in Accounting, Research in Accounting Regulation, and The CPA Journal. Dr. Edmonds received a Bachelor’s in Accounting from Birmingham-Southern College and completed her Master’s and Ph.D. in Accounting at Virginia Polytechnic Institute and State University.
Professor Philip R. Olds, PhD, is associate professor of accounting at Virginia Commonwealth University (VCU). He serves as the coordinator of the introduction to accounting courses at VCU. Professor Olds received his AS degree from Brunswick Junior College in Brunswick, Georgia (now College of Coastal Georgia). He received a BBA in accounting from Georgia Southern College (now Georgia Southern University); his MPA and PhD degrees are from Georgia State University. After graduating from Georgia Southern, he worked as an auditor with the U.S. Department of Labor in Atlanta, Georgia. A former CPA in Virginia, Professor Olds has drafted articles in various professional journals and presented papers at national and regional conferences. He also served as the faculty adviser to the VCU chapter of Beta Alpha Psi for five years. In 1989, he was recognized with an Outstanding Faculty Vice-President Award by the national Beta Alpha Psi organization. Professor Olds has received both the Distinguished Teaching Award and the Distinguished Service Award from the VCU School of Business. Most recently he received the university’s award for maintaining High Ethical and Academic Standards While Advocating for Student-Athletes and Their Quest Towards a Degree.
Christopher T. Edmonds, Ph.D., is an associate professor in the Department of Accounting and Finance at the UAB Collat School of Business. He coordinates the mass section face-to-face and online principles of accounting courses. Dr. Edmonds specializes in developing flipped and online accounting courses and frequently speaks on these topics at universities and conferences. His passion for helping students learn inspired him to create hundreds of short videos teaching the fundamental concepts of accounting. Dr. Edmonds has received six prestigious teaching awards including the UAB Faculty Student Success Award, UAB Transformative Online Course Award, UAB Loudell Ellis Robinson Classroom Teaching Award, UAB Disability Support Recognition Award, and the Virginia Tech Favorite Faculty Award. He has drafted three textbooks where he is the lead video author and has written numerous articles that have appeared in publications including The Accounting Review, Journal of Accounting and Public Policy, Issues in Accounting Education, Advances in Accounting Education, Advances in Accounting, and Review of Quantitative Finance and Accounting. Dr. Edmonds began his academic training at Colorado State University. He obtained an M.B.A. degree from UAB. His Ph.D. degree with a major in accounting was awarded by Virginia Polytechnic Institute and State University.
Thomas P. Edmonds, Ph.D., is Professor Emeritus in the Department of Accounting at the University of Alabama at Birmingham (UAB). He has been actively involved in teaching accounting principles throughout his academic career. Dr. Edmonds has coordinated the accounting principles courses at the University of Houston and UAB. He has taught introductory accounting in mass sections and in distance learning programs. He has received five prestigious teaching awards, including the Alabama Society of CPAs Outstanding Educator Award, the UAB President’s Excellence in Teaching Award, and the distinguished Ellen Gregg Ingalls Award for excellence in classroom teaching. He has written numerous articles that have appeared in many publications, including Issues in Accounting, the Journal of Accounting Education, Advances in Accounting Education, Accounting Education: A Journal of Theory, Practice and Research, the Accounting Review, Advances in Accounting, the Journal of Accountancy, Management Accounting, the Journal of Commercial Bank Lending, the Banker’s Magazine, and the Journal of Accounting, Auditing, and Finance. Dr. Edmonds has served as a member of the editorial board for Advances in Accounting: Teaching and Curriculum Innovations and Issues in Accounting Education. He has drafted five textbooks, five practice problems (including two computerized problems), and a variety of supplemental materials including study guides, work papers, and solutions manuals. Dr. Edmonds’s writing is influenced by a wide range of business experience. He is a successful entrepreneur. He has worked as a management accountant for Refrigerated Transport, a trucking company. Dr. Edmonds also worked in the not-for-profit sector as a commercial lending officer for the Federal Home Loan Bank. In addition, he has acted as a consultant to major corporations, including First City Bank of Houston (now Citi Bank), AmSouth Bank in Birmingham (now Regions Bank), Texaco, and Cortland Chemicals. Dr. Edmonds began his academic training at Young Harris Community College in Young Harris, Georgia. He received a B.B.A. degree with a major in finance from Georgia State University in Atlanta, Georgia. He obtained an M.B.A. degree with a concentration in finance from St. Mary’s University in San Antonio, Texas. His Ph.D. degree with a major in accounting was awarded by Georgia State University. Dr. Edmonds’s work experience and academic training have enabled him to bring a unique user perspective to this textbook.
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