Principles of Financial Accounting » (11st 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 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 accounting 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' 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. Her 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 the CPA Endowment Fund of Illinois and the Board of Governors of the Winnetka Community House. She is a member of International Association of Accounting Education and Research, and Illinois CPA Society. She has served on the Board of Directors of the Illinois CPA Society, the Educational Foundation of Women in Accounting and both the national as well as Chicago chapter of ASWA.

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 & Apply 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. 2. Analyzing Business Transactions. 3. Measuring Business Income. 4. Completing the Accounting Cycle. 5. Financial Reporting and Analysis. 6. The Operating Cycle and Merchandising Operations. 7. Internal Control. 8. Inventories. 9. Cash and Receivables. 10. Internal Control. 11. Long-Term Assets. 12. Contributed Capital. 13. Long-Term Liabilities. 14. The Corporate Income Statement and the Statement of Stockholders' Equity. 15. The Statement of Cash Flows. 16. Financial Performance Measurement. 17. Partnerships. Appendix A: Investments. Appendix B: Consolidations. Appendix C: Future Value and Present Value Tables.