Financial Accounting: The Impact on Decision Makers

  • AUTHORS: Gary A. Porter; Curtis L. Norton
  • ISBN-13: 9781111534868 
  • Grade(s): 9 | 10 | 11 | 12
  • 912 Pages  Hardcover 
  • 8th Edition  |  Previous Editions: 2011, 2009, 2007
  • ©2013     Published
  • Prices are valid only in the respective region


About The Product

Porter and Norton pack FINANCIAL ACCOUNTING: THE IMPACT ON DECISION MAKERS, 8/E, with decades of academic and real-world accounting experience. This student-friendly text provides the appropriate blend of academic rigor with step-by-step learning models that reach today's students. Instead of an abstract approach to accounting, you will journey with students through focus companies and their specific financial data and business strategies, imparting students with real-life experience and the decisions they may face. This edition includes a Looking Ahead feature that includes discussions of the current environment of financial reporting, specifically the International Financial Reporting Standards.


  • Transaction-effects Equation Format: Transactions are notated using a
  • IFRS Coverage: Coverage appears in selected sections of the text which are called out by an icon. These references provide a brief background for the upcoming changes in financial standards that are fully covered in the book's IFRS appendix.
  • Portable On-Demand (POD) Reviews give instant feedback to students to help them master key concepts. Found after each chapter objective, this feature combines a conceptual overview with a quick quiz to engage students in the content. POD Reviews are available to download onto electronic devices and in multiple formats.
  • Key annual report excerpts from Kellogg's and General Mills bring the role of accounting in business into focus for students and provide for an interesting industry comparison.
  • Early introduction of the statement of cash flows exposes students to the delicate balance between operations and a company's investing and financing activities, and how its management impacts an organization's viability.
  • Ratio Decision Process Model. Each time a new ratio is introduced, the Ratio Decision Model helps you walk students through it, step by step—from developing and using a financial ratio to financial statement excerpts that highlight ratio terms—helping them analyze and apply ratios most effectively.
  • Alternate Terms and Problems Sections. Found at the end of each chapter, the Alternate Terms Section illustrates variations in terminology across companies, regions, and users. Further, Alternate Problems Sections include additional problems to assign, which are modeled after problems in regular Problems Sections and designed to deepen students' understanding.

About the Contributor

  • Gary A. Porter

    Dr. Gary A. Porter earned his M.B.A. and Ph.D. degrees from the University of Colorado. Throughout his career, Dr. Porter has taught at several universities, including San Diego State; Loyola University Chicago; and the University of Montana. He has also served as a department chair. He is currently Distinguished Lecturer at Drake University. Widely published and the recipient of numerous teaching awards, Dr. Porter has conducted workshops on introductory accounting education and corporate financial reporting, has worked as a staff accountant with Deloitte & Touche, and has actively served the Illinois CPA Society, American Accounting Association, and Financial Executives International.

  • Curtis L. Norton

    Dr. Curtis L. Norton received his Ph.D. from Arizona State University and an M.B.A. from the University of South Dakota. He is currently Clinical Professor of Accounting at Arizona State University. As Professor of Accounting at Northern Illinois University for more than 30 years, Dr. Norton earned the University Excellence Teaching Award and has published in The Accounting Review, The Journal of Accounting Education, CPA Journal, and many other professional journals. A member of the American Accounting Association and Financial Executives International, he also consults and conducts training for private and governmental authorities, banks, and utilities.

Table of Contents

1. Accounting as a Form of Communication.
2. Financial Statements and the Annual Report.
3. Processing Accounting Information.
4. Income Measurement and Accrual Accounting.
5. Inventories and Cost of Goods Sold.
6. Cash and Internal Control.
7. Receivables and Investments.
8. Operating Assets: Property, Plant, and Equipment, and Intangibles.
9. Current Liabilities, Contingencies, and the Time Value of Money.
10. Long-Term Liabilities.
11. Stockholders' Equity.
12. The Statement of Cash Flows.
13. Financial Statement Analysis.
Appendix A. International Financial Reporting Standards.
Appendix B.Excerpts from Kellogg's Form 10-K
Appendix C. Excerpts from General Mills's Form 10-K

New to this Edition

  • NEW Focus on Users: Ten interviews with selected businesspeople discussing the use of accounting in their careers are included in boxed vignettes within the text and available by video to help students understand the relevance of accounting to their future careers.
  • NEW User Text and Video Interviews: Ten interviews with selected businesspeople discussing the use of accounting in their careers are included in boxed vignettes within the text and available by video to help students understand the relevance of accounting to their future careers.
  • UPDATED Financial Information: Included real-company financial statements have been updated to provide students and instructors with current financial reporting and business conditions as well as accurate company descriptions and ratios based on the latest 10-K financials.
  • UPDATED IFRS Content: Updated topical and appendix coverage of International Financial Reporting Standards provides up-to-publication details of GAAP vs. IFRS regulatory changes globally and in the U.S.
  • ENHANCED Feedback in CengageNOW: CengageNOW now includes more specific feedback to help students get further in their coursework by completing homework assignments. Feedback will be available when students click on "Check my Work" as well as after they have submitted their assignment for grading. All feedback settings are dependent on how instructors set up their courses.
  • NEW Conceptual Extenders in CengageNOW: CengageNOW for Porter/Norton now includes Conceptual Extenders that turn open-ended essay questions and
  • NEW and UPDATED: “Working-backward” exercises have been added to end-of-chapter homework. Working-backward exercises generally give students a "result:"—either journal entries, account balances, balance sheet , or income statement presentations/amounts, or ratios. With this information, students are then asked to work backward to arrive at an answer to the exercise. This type of problem solving will help students think critically about key accounting concepts.

Alternate Formats

Choose the Format that Best Fits Your Student's Budget and Course Goals

  • Looseleaf Edition
    ISBN-10: 111153487X | ISBN-13: 9781111534875
    Price = $135.00