Financial Accounting, Student Value Edition

NOTE: This edition features the same content as the traditional text in a convenient, three-hole-punched, loose-leaf version. Student Value Editions also offer a great value; this format costs significantly less than a new textbook. Before purchasing, check with your instructor or review your course syllabus to ensure that you select the correct ISBN. For Student Value Editions that include MyLab™ or Mastering™, several versions may exist for each title -- including customized versions for individual schools -- and registrations are not transferable. In addition, you may need a Course ID, provided by your instructor, to register for and use MyLab or Mastering platforms.

For courses in introductory financial accounting.

Understanding financial accounting as the language of business

Once students see that accounting is the language of business, they are well on their way to academic and professional success. Financial Accounting translates the essentials of accounting to students so they understand why and when financially sound decisions are made in business today. The 5th Edition uses real-world examples from Bold City Brewery and other businesses that students encounter in their everyday lives, making the material relevant and giving students more of those “I get it” moments.

Also available with MyLab  Accounting

MyLab™ is the teaching and learning platform that empowers you to reach every student. By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student.

NOTE: You are purchasing a standalone product; MyLab™ Accounting does not come packaged with this content. Students, if interested in purchasing this title with MyLab Accounting, ask your instructor to confirm the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.

If you would like to purchase both the loose-leaf version of the text and MyLab Accounting, search for:

Robert Kemp, DBA, CPA, is the Ramon W. Breeden, Sr., Research Professor at the McIntire School of Commerce in the University of Virginia. He is a certified public accountant and possesses baccalaureate, master’s, and doctorate degrees in business administration. Professor Kemp is an accomplished scholar who conducts research and writing in the theory and practice of contemporary business. He currently is conducting research in the funding of pensions, the management of financial institutions, and corporate finance.

His scholarly works include 70 completed projects, including monographs, articles, cases, research presentations, and working papers. His work is published in, among other places, The Financial Review; The Journal of Financial Research; Advances in Accounting, A Research Journal; Benefits Quarterly; The Journal of Mathematics Applied in Business and Industry; The Journal of Accountancy; The Journal of Commercial Bank Lending; The Journal of Bank Accounting and Auditing; and The Journal of Business Economics.

Professor Kemp is an accomplished teacher to university students and executives throughout the world. During his 36 years at the University of Virginia, he has taught numerous undergraduate and graduate courses using lectures, case studies, discussion groups, and distance learning. His consistently high evaluations by students reflect his devotion to the classroom. This high quality is also seen in his teaching of business executives. He has worked with and taught for organizations such as Bank of America, the FDIC, Navigant—Tucker Alan, the Siberian Banking Institute, the Barents Group, KPMG, Gerson Lehrman, Wellington Management, the Russian Bankers Association, the Central Asian American Enterprise Fund, the American Institute of Certified Public Accountants, and the Consumer Bankers Association.

Jeffrey Waybright teaches accounting at Spokane Community College, which is part of a multi-college district in eastern Washington. He has been a full-time, tenured, community college instructor for more than 25 years, and has also taught upper division courses for Linfield College. He is a co-recipient of the Washington Society of CPA’s Outstanding Educator Award. Waybright received his bachelor of arts degree in business administration (with an emphasis in accounting) and master’s of arts degree from Eastern Washington University.

Before becoming a professor, he spent eight years as a practicing CPA in Washington state, and still holds his license. During his teaching career, he has taught many disciplines of accounting, including financial, managerial, computerized, and payroll accounting, as well as the disciplines of entrepreneurship, economics, business math, and general business.

Waybright developed online courses in accounting, teaches online and traditional courses for financial and managerial accounting, and advises students. He is passionate about teaching students the subject of accounting.

1. Business, Accounting, and You 

2. Analyzing and Recording Business Transactions 

3. Adjusting and Closing Entries 

4. Accounting for a Merchandising Business 

5. Inventory 

6. The Challenges of Accounting: Standards, Internal Control, Audits, Fraud, and Ethics 

7. Cash and Receivables 

8. Long-Term and Other Assets 

9. Current Liabilities and Long-Term Debt 

10. Corporations: Paid-In Capital and Retained Earnings 

11. The Statement of Cash Flows 

12. Financial Statement Analysis 

Appendix A: Columbia Sportswear Company Annual Report 2016 to Shareholders 

Appendix B: Time Value of Money—Future and Present Value Concepts 

Appendix C: FASB Update—Revenue Recognition 

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