3 Review(s)

With the fourteenth edition of Financial and Managerial Accounting: The Basis for Business Decisions, the Williams author team carries on the tradition of being a solid foundation for students learning basic accounting concepts. Through the revision, the authors have further refined the financial accounting topics, while slightly expanding the managerial accounting material to provide even more balanced coverage. Hallmarks of the text-including the solid Accounting Cycle Presentation, relevant pedagogy, and high quality, end-of-chapter material-have all been updated and enhanced through the revision. A new design enhances the graphical elements of the text, while the integration of several boxed elements provides a more streamlined approach to chapter topics. Salient Features New coauthor Joe Carcello brings a focus on corporate governance to this new edition. Nearly 250 new exercises and problems. The focus on ethics in accounting has been enhanced, with new Ethics, Fraud & Corporate Management boxes in each chapter. New Brief Exercises-ten or more per chapter-provide a shorter, more concise exercise option to test basic concepts at the end of the chapter. Inclusion of Problem Set B in each chapter doubles the amount of problem material. An overall new design and revised graphics improve the illustration of key concepts. Selected excerpts from the 2005 Home Depot Financial Statements appear in the text appendix and are incorporated into end-of-chapter problem material. Students gain valuable practical experience reading and analyzing real-world financial statements. Two new Unstructured Cases in Chapter 5 address Sarbanes-Oxley (SOX) issues. (SOX is the most important development in accounting in recent years.) Previously supplemental topics have been incorporated into the text, including Other Depreciation Methods, Special Types of Liabilities, and a worksheet for Preparing a Statement of Cash Flows. The discussion has been streamlined by incorporating these and other boxed elements throughout the text. Incorporation of Management Strategy and Cash Effects into the text to streamline the discussion. Balanced Coverage. The 14th edition of Williams provides the most balanced coverage of financial and managerial topics on the market. The author team has revised and refined the presentation of traditional financial accounting topics-such as updating to reflect important changes made as a result of the Sarbanes/Oxley Act. Clear Accounting Cycle Presentation. In the first five chapters of Financial and Managerial Accounting, the authors present the Accounting Cycle in a clear, graphically interesting 4-step process. Central to this presentation is the dedication of three subsequent chapters to three key components of the cycle: recording, adjusting, and close entries. The Williams team places the easy-to-read margin notes explaining each equation used in particular journal entries. My Mentor provides a visual learning tool with interactive videos and self-tests; available online, this supplement provides interactive content for each chapter of the book. McGraw-Hill's Homework Manager uses end-of-chapter material pulled directly from the textbook to create static and algorithmic questions that can be used for homework and practice tests. Boxed elements placed throughout the text present real-world situations and encourage students to put themselves in the role of the decision maker. Case-In-Point , Your Turn, and Ethics, Fraud & Corporate Governance boxes provide current, and engaging, topics for discussion in class. Students reference the 2005 Home Depot Financial Statements-included in the text as an appendix-to further hone problem-solving skills by evaluating real world financial data. Critical Thinking Cases and Problems in each chapter reference the Home Depot statements so students learn how to read real-world financial data. Managerial Chapter Coverage: The managerial chapters cover timely topics, such as Just In Time Systems and Total Quality Management in Chapter 19: Costing and the Value Chain, and DuPont performance evaluation system and Economic Value Added (EVA) concepts, and the Balanced Scorecard in Chapter 25: Rewarding Business Performance. Corporate Approach: The corporate approach begins in chapter 3 and is carried throughout the text. Business Week Cases: Only text with Business Week cases. This unique feature presents real-world scenarios that incorporate concepts from each chapter, selected by the authors from one of the world's most recognized and respected business magazines, and a name students will recognize. Wide variety of End of Chapter materials: Summary of Learning Objectives, Key Terms, Demonstration Problems, Self-Test Questions, Discussion Questions, Exercises, Problems, Critical Thinking Cases and Problems, Business Week Assignments, and Internet Assignments. Icons in the EOC material denote problems involving: Excel Templates, ethical issues, group activities, and international issues. Students also work with journal entries and financial statements. Beyond general accounting skills, all of the above help develop communication skills, demonstrate the value of teamwork, and enhance critical thinking and students knowledge of technology. Comprehensive Problems provide students with THE BIG PICTURE: These problems, which occur every three to six chapters, challenge students by incorporating all of the skill sets they've learned in the previous chapters into one inclusive Case/Exercise. This distinctive feature, not found in most texts, allows students to identify their strengths and realize where they might need to brush up. Students may also find these very helpful while studying for exams