Financial Accounting
Explore Financial Accounting
SmartBook 2.0
Preface
Data Analytics Throughout the Accounting Curriculum
Tableau Dashboards
Integrated Excel
Financial Statements and Business Decisions
CHAPTER TWO
Investing and Financing Decisions and the Accounting System
CHAPTER THREE
Operating Decisions and the Accounting System
CHAPTER FOUR
Adjustments, Financial Statements, and the Closing Process
CHAPTER FIVE
Reporting and Interpreting Sales Revenue, Receivables, and Cash
CHAPTER SIX
Reporting and Interpreting Cost of Sales and Inventory
CHAPTER SEVEN
Reporting and Interpreting Long-Lived Assets
CHAPTER EIGHT
Reporting and Interpreting Current Liabilities
CHAPTER NINE
Reporting and Interpreting Non-current Liabilities
CHAPTER TEN
Reporting and Interpreting Shareholders' Equity
CHAPTER ELEVEN
Statement of Cash Flows
CHAPTER TWELVE
Communicating Accounting Information and Analyzing Financial Statements
CHAPTER THIRTEEN
Reporting and Interpreting Investments in Other Corporations
APPENDIX A
Extracts of the Annual Consolidated Financial Statements of Metro Inc.
APPENDIX B
Industry Ratio Report
APPENDIX C
The Formal Recordkeeping System (Online)
INDEX
Since it was first published, Financial Accounting has grown to be a market-leading financial accounting textbook on which both students and instructors rely. The authors of the Eighth Canadian Edition continue to make financial accounting a more relevant and interesting introduction to financial accounting for students. How? By helping the instructor and student become partners in learning, with a remarkable learning approach using real examples of companies familiar to students, which keeps them engaged and involved in the material from the first day of class.
The Eighth Canadian Edition is new in look, content, features, and resources:
- Greater focus on reporting by tech companies including Alphabet (Google), Meta Platforms (Facebook), Apple, Amazon, Microsoft + more.
- Updated real company information throughout to reflect the most recent annual report data.
- New feature on Environmental, Social, and Governance (ESG) Reporting with excerpts from sustainability reports of focus companies.
- New marginal Important Tip feature to add clarity and remind students of important information.
- New Related Homework after each Pause for Feedback Self-Study Quiz.
- New Guided Help videos for Self-Study Quizzes to illustrate the application of accounting methods and procedures, and calculation of financial ratios. New parallel Alternate Problems that are also now available as algorithmic auto-graded Connect assignments.
New Connect Interface. Featuring significant improvements to instructor workflows in Connect, with new features designed to make course management easier:
- NEW! Add Co-Instructors to a Section. Instructors can easily add additional instructors to any section.
- Updated: Section Dashboard. The redesigned section dashboard surfaces important information about student performance and assignments without additional clicks.
- New: Optimized for Mobile and More Accessibility
Data Analytics and Visualization Skills are an important competency for today's students. Several new features are focused on providing today's business students with an introduction to these important skills:
- New auto-graded data analyticsexercises on Connect titledBusiness Analytics and Data Visualization for most chapters.
- Data Analytics Boxed feature introduces students to how companies analyze and use data for both business decisions and accounting applications. These boxes also highlight how technology has affected how readily businesses analyze and report financial data.
- New Integrated Excel Activities-pair the power of Microsoft Excel with the power of Connect in a seamless live integration.
- New Tableau Dashboard Activities-easily introduce students to Tableau. Students learn to gather the information they need from a live embedded Tableau dashboard. No prior knowledge of Tableau is needed.
Focus Company Approach. Libby’s distinctive focus company approach motivates students by involving them in the business decisions of a real company and engaging them with relevant real-world financial statements. The focus company in each chapter provides the perfect setting for discussing the importance of accounting, and how businesses use accounting information.
A Building-Block Approach to Teaching Transaction Analysis. Faculty agree the accounting cycle is the most critical concept to master for students. Libby believes students struggle when transaction analysis is covered in one chapter. Libby spreads the coverage of transaction analysis over two chapters so students have time to master the material. In Chapter 2, students are exposed to the accounting equation and transaction analysis for investing and financing transactions that affect only elements of the statement of financial position. In Chapter 3, students are exposed to more complex operating transactions that also affect elements of the statement of earnings. By slowing down the introduction of transactions and giving students time to practise and gain mastery, this building-block approach leads to greater student success in their study of later topics in financial accounting.
Balanced Coverage. Libby ensures students understand both the use and preparation of financial statements. Technical requirements for financial reporting are presented within a context that helps students learn the technical material and better understand its importance. The decision-making focus then prepares students to analyze and interpret real financial information to make better business decisions.
Currency. International Financial Reporting Standards (IFRS) are completely integrated within each chapter and throughout the text, while an Accounting Standards for Private Enterprises (ASPE) box addresses the differences between the two types of reporting and conclude each chapter.
Clarity. Libby's clear presentation keeps students engaged throughout the course. The organization of the material ensures maximum readability for students and flexibility for instructors.
Wealth of Problem Material. Based on real Canadian and International companies, the extensive selection of end-of-chapter Exercise and Problem material examines single concepts or integrate multiple concepts presented in the chapter. The "Cases and Projects" selection of assignments require students to analyze and think conceptually, calculate, and enhance their written communication skills.
McGraw-Hill Connect is an award-winning digital teaching and learning solution that empowers students to achieve better outcomes and enables instructors to improve course management efficiency.
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