Financial and Managerial Accounting » (9th Edition)

Belverd E. Needles, Jr., received B.B.A. and M.B.A. degrees from Texas Tech University and the Ph.D. degree from the University of Illinois at Urbana-Champaign. He teaches financial accounting, managerial accounting, and auditing at DePaul University, where he is an internationally recognized expert in international accounting and education. He has published in leading journals and is the author or editor of more than 20 books and monographs. His current research relates to international financial reporting, performance measurement, and corporate governance of high performance companies in the United States, Europe, India, and Australia. His textbooks are used throughout the world and have received many awards, including (in 2008) the McGuffey Award from the Text and Academic Authors Association. Active in many academic and professional organizations, he is currently Vice-President-Education-Elect of the American Accounting Association. He has received the Distinguished Alumni Award from Texas Tech University, the Illinois CPA Society Outstanding Educator Award and its Life-Time Achievement Award, the Joseph A. Silvoso Faculty Award of Merit from the Federation of Schools of Accountancy, the Ledger & Quill Award of Merit, and the Ledger & Quill Teaching Excellence Award. He was named Educator of the Year by the American Institute of CPAs, Accountant of the Year for Education by the national honorary society Beta Alpha Psi, and Outstanding International Accounting Educator by the American Accounting Association. He has received the Excellence in Teaching Award from DePaul University.

Marian Powers received the B.S. degree from Chicago State University and the Ph.D. degree from University of Illinois at Urbana-Champaign. In addition to the Kellogg Graduate School of Management at Northwestern University, she has taught financial reporting at the University of Illinois, Chicago, and at the Lake Forest Graduate School of Management. Internationally recognized as a dynamic teacher in executive education, she specializes in teaching non-financial managers how to read and understand internal and external financial reports, including the impact of international financial reporting standards (IFRS). Dr. Powers's current research relates to international financial reporting, performance measurement, and corporate governance of high performance companies in the United States, Europe, India, and Australia. Her research has been published in leading journals. Dr. Powers's textbooks, coauthored with Belverd E. Needles, Jr., are used throughout the world and have received many awards, including the Textbook Excellence Award and the McGuffey Award from the Text and Academic Authors Association. She has also coauthored three interactive multimedia software products. Dr. Powers currently serves on the Board of Directors of the Illinois CPA Society, the Board of the CPA Endowment Fund of Illinois, and the Board of Governors of the Winnetka Community House. She is a member of the American Accounting Association, European Accounting Association, International Association of Accounting Education and Research, and Illinois CPA Society. She has served as Vice President Programs and Secretary of the Educational Foundation. She is a past national officer of the ASWA and past president of its Chicago chapter.

Susan V. Crosson is the Accounting Program Coordinator and Professor of Accounting at Santa Fe College, Gainesville, FL. Susan has also taught at the University of Florida; Washington University in St. Louis; University of Oklahoma; Johnson County Community College in Kansas; and Kansas City Kansas Community College. She is known for her innovative application of pedagogical strategies online and in the classroom. She is a recipient of the Outstanding Educator Award from the American Accounting Association's Two Year College Section, an Institute of Management Accountants' Faculty Development Grant to blend technology into the classroom, the Florida Association of Community Colleges Professor of the Year Award for Instructional Excellence, and the University of Oklahoma's Halliburton Education Award for Excellence. Susan is active in many academic and professional organizations. She serves on the American Institute of CPA Pre-certification Education Executive Committee and is on the Florida Institute of CPAs Accounting Careers and Education committee and the Florida Association of Accounting Educators Steering Committee. She has served as the American Accounting Association's Vice President for Sections and Regions and as a Council Member-at-Large, Chairperson of the Membership Committee, and was Chairperson of the Two-Year Accounting Section. Previously she served as Chairperson of the Florida Institute of CPAs Accounting Careers and Education Committee and was Chair of the Florida Institute of CPAs Relations with Accounting Educators Committee. Crosson was on the American Institute of CPAs' Core Competencies Best Practices Task Force also. Crosson holds a B.B.A. in economics and accounting from Southern Methodist University and a M.S. in accounting from Texas Tech.

Needles/Powers/Crosson delivers interactive pedagogy by illustrating accounting principles and real-world examples to encourage critical thinking. This revision is based on an understanding of the nature, culture, and motivations of today's students and on extensive feedback from instructors. These substantial changes meet the needs of students, who not only face a business world increasingly complicated by ethical issues, globalization, and technology but also have more demands on their time. To help them meet these challenges, this textbook shows students how business transactions, which are the result of business decisions, are recorded in a way to show their effects on the financial statements. Built on historically strong pedagogy, this edition demonstrates strengthened transaction analysis and its link to the accounting cycle. Proven Presentation: Students learn from a trusted approach built on proper accounting principles and technical detail to ensure mastery of core accounting concepts. Relevant Coverage: Chapter-opening Decision Points have been enhanced to expose students to the changing financial reporting environment and IFRS. Critical-Thinking Tools: New Stop & Think features help students develop the judgment skills they need in the modern business world. Needles/Powers/Crosson demonstrates accounting in motion!

1. Uses of Accounting Information and the Financial Statements. Supplement: How To Read An Annual Report. CVS Corporation Annual Report. Southwest Airline Co. Financial Statements. 2. Analyzing Business Transactions. 3. Measuring Business Income. Supplement: Closing Entries and the Work Sheet. 4. Financial Reporting and Analysis. Supplement: The Annual Report Project 5. The Operating Cycle and Merchandising Operations. 6. Inventories. 7. Cash and Receivables. 8. Current Liabilities and Fair Value Accounting. 9. Long-Term Assets. 10. Long-Term Liabilities. 11. Contributed Capital. 12. Investments 13. The Corporate Income Statement and the Statement of Stockholders' Equity. 14. The Statement of Cash Flows. 15. The Changing Business Environment: A Manager's Perspective. 16. Cost Concepts and Cost Allocation. 17. Costing Systems: Job Order. 18. Costing Systems: Process Costing. 19. Value-Based Systems: ABM and Lean. 20. Cost Behavior Analysis. 21. The Budgeting Process. 22. Performance Management and Evaluation. 23. Standard Costing and Variance Analysis. 24. Short-Run Decision Analysis. 25. Capital Investment Analysis. 26. Pricing Decisions, Including Target Costing and Transfer Pricing. 27. Quality Management and Measurement. 28. Financial Analysis of Performance. Appendix A: Accounting for Investments. Appendix B: Present Value Tables.