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1. W. STEVE ALBRECHT PhD, CPA, CIA, CFE Brigham Young
University EARL K. STICE PhD Brigham Young University JAMES D.
STICE PhD Brigham Young University MONTE R. SWAIN PhD, CPA, CMA
Brigham Young University TENTH EDITION W. STEVE ALBRECHT PhD, CPA,
CIA, CFE Brigham Young University EARL K. STICE PhD Brigham Young
University JAMES D. STICE PhD Brigham Young University MONTE R.
SWAIN PhD, CPA, CMA Brigham Young University ACCOUNTING Concepts
and Applications
2. Accounting: Concepts & Applications, 10e W. Steve
Albrecht, Earl K. Stice, James D. Stice, and Monte R. Swain
VP/Editorial Director: Jack W. Calhoun Publisher: Rob Dewey
Executive Editor: Sharon Oblinger Developmental Editor: Aaron
Arnsparger Marketing Manager: Kristen Hurd Content Project Manager:
Starratt E. Alexander Manager of Technology, Editorial: John Barans
Technology Project Editor: Scott Hamilton Manufacturing
Coordinator: Doug Wilke Production House/Composition: LEAP
Publishing Services and GGS Information Services Printer: R R
Donnelley Willard Manufacturing Division Art Director: Bethany
Casey Internal Designer: C Miller Design Cover Designer: Bethany
Casey Cover Illustrations: Larry Moore, Scott Hull Associates
Photography Manager: Deanna Ettinger Photo Researcher: Robin Samper
COPYRIGHT 2008, 2005 Thomson South-Western, a part of The Thomson
Corporation. Thomson, the Star logo, and South-Western are
trademarks used herein under license. Printed in the United States
of America 1 2 3 4 5 10 09 08 07 Student Edition ISBN 13:
978-0-324-37615-4 Student Edition ISBN 10: 0-324-37615-4
Instructors Edition ISBN 13: 978-0-324-64833-2 Instructors Edition
ISBN 10: 0-324-64833-2 ALL RIGHTS RESERVED. No part of this work
covered by the copyright hereon may be reproduced or used in any
form or by any meansgraphic, electronic, or mechanical, including
photocopying, recording, taping, Web distribution or information
storage and retrieval systems, or in any other manner without the
written permission of the publisher. For permission to use material
from this text or product, submit a request online at
http://www.thomsonrights.com. Library of Congress Control Number:
2006940161 For more information about our products, contact us at:
Thomson Learning Academic Resource Center 1-800-423-0563 Thomson
Higher Education 5191 Natorp Boulevard Mason, OH 45040 USA
3. TAKE A LOOK AT THE BEST GAME IN TOWN SEE page iv A STRATEGY
FOR SUCCESS Accounting, 10e continues to build upon a winning
strategy designed to help you meet the diverse needs of both
accounting majors and non-majors in your course. The texts solid
presentation of procedures blends with a balanced emphasis on
decision-making. Students learn how to effectively use and prepare
accounting information. With an emphasis on the activities of a
business, Accounting, 10e demonstrates accounting in action using a
wealth of actual examples from numerous leading companies
throughout the world. Student-focused learning features place
concepts within a business context. No matter what your students
career choices, this edition has the coverage to make them winners
in the game of life. THE WINNING SOLUTION STRONGER WITH EVERY ROUND
Building on the strengths that make this a market- leading text,
this edition takes the accounting experience to a new level. The
flexibility of expanded coverage, new applications in every
chapter, reorganized and streamlined content, and the innovative
online ThomsonNOW course management system are everything you need
to put your students ahead of the game! Now Its Your Turn. Take a
look for yourself! Staying on top of the game in todays competitive
world means consistently looking for ways to improve, building upon
existing strengths, and maximizing every opportunity. Accounting:
Concepts and Applications, 10e does just that to give you and your
students a competitive edge in accounting today. See for yourself
how proven accounting leaders Albrecht, Stice, Stice, and Swain
have improved this edition to help you and your students achieve
your personal best in todays classroom and the business world
beyond. ACCOUNTING: CONCEPTS AND APPLICATIONS, 10E WHERE FUTURE
BUSINESS CHAMPIONS BEGIN
4. YOU WIN WITH FLEXIBILITY TAILORED TO YOUR COURSE NEEDS
Always a hallmark of this text, expanded coverage within each
chapter, in addition to solid basic coverage of essential
accounting concepts, allows you to choose how much depth you wish
for exploring advanced topics. The result is maximum flexibility
for your class. YOUVE MET YOUR MATCH WITH ALL THE COVERAGE YOU NEED
ORGANIZATION PLAYS TO TODAYS BUSINESS STRENGTHS The texts unique
approach, emphasizing business activities, provides a solid
framework for understanding how an organization performs its
primary business activities. This realistic approach makes it
easier for students to understand accountings role.
5. STREAMLINED SOLUTIONS ADD UP TO SUCCESS FINANCIAL CHAPTERS
LEAVE NOTHING TO CHANCE Based on your feedback, the financial
statement analysis chapter appears as the last chapter (Ch. 14) in
the financial section. This now serves as a capstone chapter,
getting students into analysis. The unique chapter on financial
statement integrity (now Ch. 5) provides a strong ethical
foundation for students to better understand the impact of the
Sarbanes-Oxley Act and todays increased focus on earnings
management. MANAGERIAL CHAPTER REVISIONS ON THE ROLL Completely
reorganized, streamlined managerial chapters now center around a
new conceptual model that covers topics in a logical progression
thats ideal for the introductory level. Chapters now begin with
traditional product costing methods and discussion of cost flows
before moving to control topics, such as budgeting and variances.
Managerial chapters now conclude with decision-making subjects,
such as CVP and investments. Streamlined chapter on activity-based
costing (Ch. 17) provides an intriguing presentation thats careful
not to overwhelm students. The use of a continuing example Lily Ice
Cream Company is featured to allow students to see ongoing
applications of accounting concepts in decision-making. MODIFIED
TABLE OF CONTENTS Based on your feedback, the table of contents has
been modified to introduce topics similar to the order they are
presented on the balance sheet.
6. GAME ON! UNRAVEL THE PUZZLE LEARNING FEATURES STUDENTS
REALLY USE Brief Explanations that accompany Learning Objectives at
the beginning of every chapter direct students attention while
reading. They are an ideal resource to refresh student
understanding before lectures and tests. Revised Remember This
Summaries at the end of each topical section of the chapter
highlight the most important material within that section. Bulleted
lists assist with retention, while tables visually demonstrate
important relationships or connections. Improved Chapter-Opening
Exhibits place events in context, while showing both the timeline
of events for a particular business activity and the impact of
these events on the financial statements. These enhanced exhibits
provide a clear visual aid as students begin to conceptualize the
relationships between various activities of a business and the
proper accounting procedures that accompany them. FYI boxes draw
examples from real business events or situations to show students
the immediate relevance of the information they are learning. Stop
and Think features highlight thought- provoking issues or concepts
that reinforce the importance of developing critical-thinking
skills for success in todays competitive business world. Caution
boxes remind students of the important points to consider when
resolving more difficult situations or learning more complex
concepts.
7. FROM NOVICE TO PROFESSIONAL A variety of homework and
assignment opportunities at the end of each chapter provides a
wealth of hands-on, focused practice. Practice Exercises offer
quick-hit concept checks ideal for in-class practice. Exercises and
Problems delve deeper into concepts, testing students retention of
critical topics and procedures. Margin References to Learning
Objectives have been added to all exercise and problem materials
for quick reference and focused practice. Analytical Assignments,
following the problems in each chapter, provide dynamic new
discussion and critical-thinking activities. From discussion cases
and judgment calls, to assign- ments that require the analysis of
real company financial statements, this new section is a source for
assignments that take learning a step beyond the typical.
End-of-chapter practice exercises and problems are now available
online through the innovative ThomsonNOW for Accounting, 10e with
instant grading and homework management capabilities! VARIETY IS
THE NAME OF THE GAME! EXCEPTIONAL END-OF-CHAPTER RESOURCES
8. JUST WHAT YOU NEED TO KNOW AND DO NOW TECHNOLOGY NOW KEEPS
YOU AT THE TOP OF YOUR GAME The new ThomsonNOW for Accounting, 10e
provides a robust, flexible online course management system!
Instructors may assign end-of-chapter materials online while also
assessing students incoming knowledge through pre- and post-tests.
Students interact with a variety of multimedia as they create
personalized study plans that address specific gaps within their
individual understanding of accounting. ThomsonNOW is effective in
complementing the standard lecture-based course, also serving as a
strong foundation for full distance learning programs. ThomsonNOW
is compatible with WebCT and Blackboard platforms. I love the ease
of use for both students and me. I love that the program will grade
student work translating to less work for me the program taps the
power of electronic/media and enhances the learning experience For
more information, visit www.thomsonedu.com/thomsonnow by assigning
homework with ThomsonNOW, the students did better overall on the
final exam I have much less grading to do. For the student, there
is more practice which translates into better performance (This)
online manager allows me to track the work that (students) dothe
immediate feedbackleads to quicker mastery and the step-by-step
approach translates into better critical thinking.
9. JUST WHAT YOU NEED TO KNOW AND DO NOW ITS YOUR TURN TO SAVE
TIME AND ENSURE INTERACTIVE LEARNING Assign Online Homework All
end-of- chapter problems and exercises are available online with
hints and links to the eBook. This helps students to effectively
complete assignments. Check Course Credibility and Compliance
ThomsonNOW identifies assignment and test bank questions as they
relate to AACSB, AICPA, and IMA standards with customizable reports
that allow you to track progress as well as course content. Manage
Your Gradebook with Ease ThomsonNOW automatically grades homework
and tests and provides students with immediate results. Students
take responsibility for their own assignments as they can easily
view assignments completed, due dates, and current grades from one
convenient screen. You can even weight grades to best fit your
overall course plan. Integrated eBook Brings Content to Life
Students can read the latest edition sequentially or follow links
from specific assignments and end-of-chapter activities for
remedial review. Interactive Learning Games and Assignments
Reinforce Key Concepts Multimedia games provide a fun way to learn
accounting concepts. Both creative and challenging, these games
reinforce core content and provide immediate feedback to help
students improve knowledge and skills. Personalized Study Plans
Reinforce Student Comprehension Diagnostic pre- and post-assessment
quizzes identify gaps in knowledge and help students develop
Personalized Study Plans that provide practice with links to
tutorials, demonstration exercises, videos, eBook content,
accounting games and other multimedia tools.
10. QUALITY RESOURCES HELP SOLVE THE ACCOUNTING PUZZLE! FULL
SUITE OF INSTRUCTOR SUPPORT GIVES YOU THE WINNING HAND A complete
selection of reliable supplements, including PowerPoint slides and
a revised Test Bank edited personally by the authors, ensures
consistency throughout your course and full continuity with the
text! In addition to the innovative new technology offered with
ThomsonNOW , Accounting, 10e delivers a wealth of choices for your
teaching convenience. Here are just a few highlights from the
complete package: Experience Accounting Videos highlight managerial
accounting concepts in Accounting, 10e. These 14 video clips cover
many industry segments by spanning manufacturing, retail, and
service industries. Students watch managerial accounting concepts
come to life as they view brief videos that feature familiar
organizations such as Hard Rock Caf and BP. The videos are ideal
for launching a dynamic, interactive lecture in the classroom.
These videos are available in ThomsonNOW or as a standalone item.
Improved Test Bank now tags questions to AACSB standards as well as
AICPA (in the Financial portion) and IMA standards (in the
Managerial portion) so you can efficiently monitor student
progress. This is particularly valuable during the accreditation
process or when your school wants to standardize assessment. Test
bank questions are also identified as easy, moderate, and difficult
to help you create exams best suited for your individual students.
ExamView Electronic Testing Software allows you to easily generate
and customize tests from the reliable test bank questions for
traditional or online quizzes or exams. Instructors Manual includes
an overview of chapter Learning Objectives, detailed lecture
outlines, descriptions of key illustrations and boxed items with
page references, and a topical overview grid of end-of-chapter
assignments with assignments classified by level of difficulty and
estimated time of completion. Companion Web Site Find all of the
resources you and your students need on the texts companion Web
site. Online, password-protected access allows you to easily
download numerous valuable resources and teaching tools, including
Solutions Manual, Instructors Manual, PowerPoint slides, and
Spreadsheet Solutions. Students can easily access Student
Spreadsheet Templates.They can test their understanding with
interactive online quizzes and other interactive learning tools.
www.thomsonedu.com/accounting/albrecht
11. Content Providers: Cameron Pratt Brigham Young University
Jason Bond Brigham Young University John Morley Brigham Young
University Michael and Becky Blue Bloomsburg University David ODell
McPherson College Dave Cottrell Brigham Young University Verifiers:
James Emig Villanova University Beth Woods Howell, MI W. Steve
Albrecht James D. Stice Earl K. Stice Monte R. Swain The tenth
edition of Accounting: Concepts and Applications reflects many
comments from colleagues and students, all of which are deeply
appreciated. In particular we would like to thank the following:
Laurie Hays Western Michigan University Samuel Tiras University of
Buffalo Bob Hartman University of Iowa Cathy Lumbattis Southern
Illinois University- Carbondale Hubert Glover Howard University
Diane Tanner University of North Florida Kem Edwards Bryant College
James Bannister University of Hartford Linda Chase Baldwin Wallace
College K.D. Hatheway-Dial University of Idaho Doug Asbury
University of Findlay Louann Cummings University of Findlay Josie
Mathias Mercer County Community College Ibrahim Badawi St. Johns
University Christie Comunale Long Island University- C.W. Post
Keren Deal Auburn University Rafik Elias California State
University- Los Angeles Marian Boscia Kings College Mary MacAusland
Reading Area Community College Bonnie Slager Santiago Canyon
College Joey Styron Augusta State University Robert Holtfreter
Central Washington University Donald Raux Siena College William
Braberry Bluefield State College William Goodman Bluefield State
College Anne Rich Quinnipac University Paul Holt Texas A&M
University- Kingsville Ralph Lindeman Kent State University Susan
Minke Indiana University- Purdue University at Fort Wayne Lynne
Shoaf Belmont Abbey College ACKNOWLE DG M E NTS In addition, we
would like to thank the following content providers and verifiers
for their profes- sional services and consideration in providing a
more concise, higher-quality product.
12. W. Steve Albrecht W.SteveAlbrechtistheAssociateDean of the
Marriott School of Management and Andersen Professor at Brigham
Young University. Dr. Albrecht, a cer- tified public accountant,
certified in- ternal auditor, and certified fraud examiner, came to
BYU in 1977 after teaching at Stanford and at the University of
Illinois. Earlier, he worked as a staff accountant for Deloitte
& Touche. Prior to becom- ing associate dean of the Marriott
School, Dr. Albrecht served for nine years as the director of the
School of Accountancy and Information Systems at BYU. Dr. Albrecht
received a bache- lors degree in accounting from Brigham Young
University and his MBA and PhD degrees from the University of
Wisconsin at Madison. He is past President of the American
Accounting Association and the Association of Certified Fraud
Examiners. He was a former member of the Board of Regents of the
Institute of Internal Auditors and the Board of Directors of the
Utah Association of CPAs. He was also president of the Accounting
Program Leadership Group (chairs of accounting departments and
programs) and served on the task force of the American Institute of
CPAs that wrote a fraud auditing standard. He was a mem- ber of the
Committee of Sponsoring Organizations (COSO) from 19972000 and is
past president of Beta Alpha Psi, the national accounting honors
fraternity. He was a member of the AICPA Council and chaired their
Pre- Certification Executive Education Committee. Dr. Albrecht has
done extensive research on business fraud. His research has
resulted in the publica- tion of over one hundred articles in
academic and professional journals. He is the author or co-author
of over 20 books or monographs, several of which are on fraud. His
financial and principles of accounting textbooks are in their 10th
editions. In 2000, he completed a major study (Accounting
Education: Charting the Course through a Perilous Future) on the
future of accounting education in the United States. His fraud
textbook is currently in its second edition. He is a frequent
speaker on the topics of fraud examination, ac- counting education,
and personal financial planning. Dr. Albrecht has received numerous
awards and honors, including BYUs highest faculty honor, the Karl
G. Maeser Distinguished Faculty Lecturer Award for superior
scholarship and teaching. He has also received the BYU School of
Managements Outstanding Faculty Award and the BYU Outstanding
Researcher Award. He has been recognized by Beta Alpha Psi, the
Federation of Schools of Accountancy, the Auditing Section of the
American Association and the AICPA as Educator of the Year. He has
also received awards for outstanding teaching at Stanford
University, the University of Illinois, and the University of
Wisconsin. In 1997, 2001, 2002, and 2003 he was chosen as one of
the 100 most influential accounting professionals in the United
States by Accounting Today magazine. In 1998, he received the
Cressey Award from the Association of Certified Fraud Examiners,
the highest award given for a lifetime of achievement in fraud
detection and deterrence. (Past win- ners were Jane Bryant Quinn of
Newsweek magazine and Rudolph Giuliani, past United States Attorney
for the Southern District of New York and past mayor of New York
City.) In 2002, in honor of his contribution in fighting fraud, the
Association of Certified Fraud Examiners named one of the buildings
at their headquarters after Dr. Albrecht. And in 2001, in
recognition of his contributions to BYU and to academia, an
anonymous donor endowed the W. Steve Albrecht Professorship in
Accounting. Dr. Albrecht has consulted with numerous organizations,
including a variety of Fortune 500 compa- nies, major financial
institutions, the United Nations, FBI, and other organizations, and
he has been an ex- pert witness in some of the largest fraud cases
in America. He currently serves on the audit committees and boards
of directors of four public and three private companies. Dr.
Albrecht is married to the former LeAnn Christiansen, and they have
six children and 10 grandchildren. AB OUT TH E AUTHOR S
13. About the Authors xiii Earl K. Stice Earl K. Stice is the
PricewaterhouseCoopers Professor of Accounting in the School of
Accountancy and Information Systems at Brigham Young University
where he has been on the faculty since 1998. He holds bachelors and
masters degrees from Brigham Young University and a PhD from
Cornell University. Dr. Stice has taught at Rice University, the
University of Arizona, Cornell University, and the Hong Kong
University of Science and Technology (HKUST). He won the Phi Beta
Kappa teaching award at Rice University and was twice selected at
HKUST as one of the ten best lecturers on campus. Dr. Stice has
also taught in a variety of executive education and corporate
training programs in the United States, Hong Kong, China, and South
Africa, and he is currently on the executive MBA faculty of the
China Europe International Business School in Shanghai. He has
published papers in the Journal of Financial and Quantitative
Analysis, The Accounting Review, Review of Accounting Studies,
Issues in Accounting Education, and the Journal of Accounting
Education, and his research on stock splits has been cited in
Business Week, Money, and Forbes. Dr. Stice has presented his
research results at seminars in the United States, Finland, Taiwan,
Australia, and Hong Kong. He is co-author of Intermediate
Accounting, 16th edition and Financial Accounting: Reporting and
Analysis, 7th Edition. Dr. Stice and his wife, Ramona, are the
parents of seven children: Derrald, Han, Ryan Marie, Lorien, Lily,
Taraz, and Kamila. James D. Stice James D. Stice is the
Distinguished Teaching Professor in the Marriott School of
Management at Brigham Young University. He is currently the
Director of the Marriott Schools MBA Program. He holds bachelors
and masters degrees from BYU and a PhD from the University of
Washington, all in accounting. Professor Stice has been on the
faculty at BYU since 1988. During that time, he has been selected
by graduating accounting students as Teacher of the Year on
numerous occasions, he was selected by his peers in the Marriott
School at BYU to receive the Outstanding Teaching Award in 1995,
and in 1999 he was selected by the University to receive its
highest teaching award, the Maeser Excellence in Teaching Award.
Professor Stice has taught at INSEAD in France and at the China
Europe International Business School in Shanghai. Professor Stice
has published articles in The Journal of Accounting Research, The
Accounting Review, Decision Sciences, Issues in Accounting
Education, The CPA Journal, and other academic and professional
journals. In addition to this textbook, he has published two other
textbooks: Financial Accounting: Reporting and Analysis, and
Intermediate Accounting. In addition to his teaching and research,
Dr. Stice has been involved in executive education for such
companies as IBM, Bank of America, Ernst & Young, RSM McGladrey
and currently serves on the board of directors of Nutraceutical
Corporation. Dr. Stice and his wife, Kaye, have seven children:
Crystal, J.D., Ashley, Whitney, Kara, Skyler, and Cierra and two
grandchildren. Monte R. Swain Monte R. Swain is the Deloitte
Professor of Accounting in the School of Accountancy at Brigham
Young University. He received his PhD in managerial accounting and
information systems from Michigan State University and joined the
BYU faculty in 1991. His dissertation, which examined the impact of
information load on capital budgeting decision processes, was
awarded an Institute of Management Accountants Dissertation Grant.
At BYU, Dr. Swain has received the Teaching Excellence Award for
Management Skills in 1994, 1995, and 1997; the Marriott School of
Management Outstanding Teacher in 1999. In addition to his research
work involving human decision processes, Dr. Swain studies and
writes on activity-based cost- ing, the Balanced Scorecard, and the
Theory of Constraints in management information systems. He has
published papers in leading academic and practitioner journals such
as Behavioral Research in Accounting, Decision Sciences, Strategic
Finance, and The Internal Auditor. In addition, Dr. Swain is deeply
commit- ted to the scholarship of teaching and has published a
number of papers and cases on education in Issues in Accounting
Education, Journal of Accounting Education, The Journal of
Accounting Case Research, Journal of Education for Business, and
the Case Research Journal. Dr. Swain sits on the editorial board
for Issues in Accounting Education. Dr. Swain has spent significant
time working with or researching or- ganizations such as IBM,
Clorox, and Deere and Company. He is a Certified Public Accountant
and a Certified Management Accountant. Dr. Swain took an academic
leave from BYU from July 1999 to July 2000 to serve as the Chief
Financial Officer for Authorize.Net (payment-processing service for
e-commerce). As a result of that experience, he has published
papers and cases on the impact of eCommerce on financial and
managerial accounting. Dr. Swain is active in the American
Accounting Association where he serves in various capacities
helping to promote the objectives of that organization. He and his
wife, Shannon, have seven children.
14. SU PPLE M E NTS For the Instructor. ThomsonNOW for
Accounting: Concepts and Applications, 10e Description: Save time
and ensure all of your studentregardless of their majorhave the
understanding they need of accounting procedures and concepts with
the integrated, online innovation of ThomsonNOW. This integrated
online course management and learn- ing system combines the best of
current technology to save you time in planning your course and
manag- ing student assignments. You can teach with the latest
built-in technology support, reinforce comprehen- sion with
customized student learning paths, effi- ciently test and
automatically grade assignments with reports that correspond to
AACSB, AICPA and IMA standards. ThomsonNOW is effective for the
stan- dard lecture-based course or can serve as a strong foundation
for full distance-learning programs. For your convenience,
ThomsonNOW is even com- patible with WebCT and Blackboard . For
more information, visit www.thomsonedu. com/thomsonnow. Experience
Accounting Videos Description: The ideal tool for launching a
dynamic, interactive lec- ture in your course, these new Experience
Accounting Videos highlight managerial accounting concepts in ac-
tion from Accounting, 10e. Each brief video clip, which is
approximately five minutes, features recognizable companies, such
as Hard Rock Caf and BP, who are using managerial accounting to
strengthen their busi- ness performance. These videos are available
in ThomsonNOW or standalone via the web. Instructors Manual
Description: Simplify class preparation with these detailed lecture
outlines, overview of Learning Objectives, descrip- tions of key
illustrations and boxed items with page references, and topical
overview grid of end-of- chapter assignments with assignments
classified by level of difficulty and estimated time of completion.
Available online or on the Instructors Resource CD- ROM.
Instructors Resource CD-ROM ISBN: 0324645783 Description: Place all
of the key teaching resources you need for a winning course at your
fingertips with this all-in- one source. Find everything you need
to plan, teach, grade and assess student understanding and
progress. This CD includes the Solutions Manual, Instructors
Manual, Test Bank in Word and ExamView , PowerPoint slides,
spreadsheet solutions, and solu- tions to the Cumulative
Spreadsheet Analysis assign- ments from the textbook. PowerPoint
Presentation Slides Description: Bring your lectures to life and
clarify difficult con- cepts with these slides for this edition to
capture and keep your students attention. Ideal as guides for stu-
dent note-taking and study, print the slides or simply use with an
overhead projector. Available online or on the Instructors Resource
CD-Rom. Solutions Manual ISBN: 0324648308 and 0324648316
Description: Carefully verified to ensure accuracy, these solutions
and answers to all end-of-chapter materials from the textbook help
you easily plan, assign and efficiently grade assignments.
Solutions Transparencies ISBN: 0324645848 and 032464583X
Description: Clarify learning for students with these acetate mas-
ters that detail solutions for the exercises and prob- lems from
the text. These are specifically created for instructors who wish
to use overheads in class. Test Bank ISBN: 0324645775 and
0324645767 Description: This revised test bank helps you
efficiently assess your students understanding with problems and
questions that are now tagged to AACSB and AICPA standards. This is
particularly valuable during the ac- creditation process or when
your school wants to standardize assessment. Test bank questions
are also identified by easy, medium or challenging level of
difficulty for easy selection. Title: ExamView 5.0 Computerized
Test Bank Description: This easy-to-use test-creation program for
Microsoft Windows or Macintosh contains all questions from the
printed Test Bank with AACSB, AICPA and IMA standards and level of
difficulty indicated for each question. Its simple to customize
tests to your spe- cific class needs as you edit or create
questions and
15. Supplements xv store customized exams. This is an ideal
tool for online testing. Available on the IRCD. WebTutor Toolbox
for Blackboard and WebCT ISBN: 0534272401 (Blackboard) or
053427241x (WebCT) Description: Leverage the power of the Internet
and bring your course to life with this course management pro-
gram. You or your students can use this wealth of in- teractive
resources with those on the texts companion website to supplement
the classroom ex- perience and ensure positive outcomes. Use this
ef- fective resource as an integrated solution for your distance
learning or web-enhanced course. Visit
http://webtutor.swlearning.com. Working Papers t/a Financial
Accounting (chapters 114) ISBN: 0324648227 Description: Verified by
the text authors to ensure accuracy and quality consistent with the
text, the working papers for problems from the financial accounting
chapters in the textbook are provided together in one conve- nient
resource. Albrecht/Stice/Stice/Swains Accounting: Concepts and
Applications, 10e Companion Web Site URL:
www.thomsonedu.com/accounting/albrecht Description: Now you and
your students can reach the top of your game in accounting with
immediate access to a rich array of teaching and learning resources
at Accounting: Concepts and Applications, 10es inter- active
companion website. This resource features chapter-by-chapter online
tutorial quizzes, a final exam, chapter outlines and review, online
learning games, flashcards, expanded coverage of certain top- ics
not found in the textbook and more! Easily down- load the
instructor resources you need from the password-protected,
instructor-only section of the site. For Students. Companion Web
Site Description: Now you can stay on top of your game, master the
pro- cedures and concepts of accounting and earn the grade you want
in your accounting course with the rich ar- ray of learning
resources at the Accounting: Concepts and Applications, 10e
interactive companion web- site. Designed specifically for your
accounting needs, this website features chapter-by-chapter online
quizzes and solutions, learning games, flashcards, ex- panded
coverage of topics not covered in the text, and more! Working
Papers t/a Financial Accounting (chap- ters 114) ISBN: 0324648227
Description: The working papers for problems from the textbook are
provided together in one resource for your con- venience. Verified
by the text authors to ensure accuracy and consistent quality,
youll find the tools you need to enhance your learning experience.
TM
33. FinancialReportingandtheAccountingCycle 1 P A R T 1 2 3
Accounting Information: Users and Uses Financial Statements: An
Overview 5Ensuring the Integrity of Financial Information The
Mechanics of Accounting 4 Completing the Accounting Cycle DUNCAN
SMITH/PHOTODISC GREEN/GETTY IMAGES INC.
34. This page intentionally left blank
35. 1 2 3 4 Accounting Information: Users and Uses After
studying this chapter, you should be able to: C H A P T E R
Describe the purpose of accounting and explain its