New to this Edition
New Transaction Analysis Model: Maintaining a solid foundation in double-entry accounting, there are more in-text journal entries and T-accounts throughout the financial accounting chapters. In Chapter 2 of Business Transactions, the relationship of transaction analysis to the accounting cycle has been clarified. In Chapter 6 on Merchandising Accounting, transaction illustrations exist for all transactions mentioned in the chapter. The authors have reduced excessive detail, shortened headings, simplified explanations, and increased readability.
New Content: Partnerships, Special Journals, and T-Accounts have returned to the 11th edition! A completely new, streamlined textbook design emphasizes the pedagogy. T-accounts and journals have assigned colors to help new accounting students identify them easily.
Revised IFRS Coverage: International Financial Reporting Standards and fair value have been integrated throughout the book where accounting standards have changed and also in the Business Perspective features where applicable. All current events, statistics, and tables have been updated for the latest data.
New and Revised End of Chapter Assignments have been carefully scrutinized for direct relevancy to the learning objectives in the chapters. Names and numbers on all Short Exercises, Exercises, and Problems have been changed except those used on videos. Alternate and main problems have been reversed. Most importantly, alternative problems have been expanded in chapter 1-17 so that there are ample problems for any school.
New Tri-Level Problems: Algorithmic Tri-Level Problems in CengageNOW follow the three section approach of the chapter by including Concepts, Accounting Applications and Business Applications. The problems reinforce and apply overarching concepts while also tying the three sections together to give students a more complete understanding.
NEW ANIMATED ACTIVITIES: Animated Activities in CengageNOW are the perfect pre-lecture assignment to expose students to concepts before class! These illustrations visually guide students through selected core topics using a realistic company example to illustrate how the concepts relate to the everyday activities of a business. Animated Activities are assignable or available for self-study and review.
New Blueprint Problems: In CengageNOW, these problems cover the primary learning objectives and help students understand the fundamental accounting concepts and their associated building blocks – not just memorize the formulas or journal entries required for a single concept. Blueprint Problems include rich feedback and explanations, providing students with an excellent learning resource. Whether these are assigned as homework or available as review before an exam, these comprehensive problems tie together concepts and support reinforcement of core accounting fundamentals.