Intermediate Accounting Volume 2

Learning Objectives Learning objectives have been updated and their number reduced throughout the text for the benefit of students and instructors. This feature enhances the ability to navigate the text by providing an organized path of study. Each chapter begins with a list of its own objectives which are then integrated throughout the chapter. The objectives guide students and highlight where to focus their efforts. As a result, students take an active role in their learning to ensure they have covered all of the learning objectives in their studies. The end-of-chapter materials are linked to the learning objectives, which reinforces the primary topics included.

New AI Reader. McGraw Hill's AI Reader provides students with an embedded AI learning tool that promotes active reading to drive meaningful engagements and conceptual understanding of course content, not just rote memorization. AI Reader allows instructors to maintain control over how students are using AI in their courses, with trusted materials and guardrails

Indigenous-Related Issues. Throughout the text, issues that are unique for Indigenous enterprises have been highlighted in side notes or in end-of-chapter material. For example, the issues surrounding the ownership of Traditional Knowledge are highlighted under intangible assets and leases on reserve lands are noted in the lease chapter. In addition, there are some end-of-chapter questions that include Indigenous businesses in the case facts.

Integrated Excel. With Integrated Excel the power of Microsoft Excel meets the power of Connect. In this new assignment type, Excel opens seamlessly inside Connect, with no need for uploading or downloading any additional files or software. Instructors choose their preferred auto-graded solution, with the optio;grading either;for formula accuracy or for the solution

DISTINGUISHED AUTHORSHIP.The Intermediate Accounting co-authors have been recognized for teaching excellence, case writing, dedicated involvement in professional accounting education, and authorship of professional development courses and elective modules for the CPA program.

CANADIAN AGENDA. A ground up Canadian product, Intermediate Accounting reflects the current International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE) guiding accounting policy and practices in the Canadian business environment. Every chapter is based first and foremost on IFRS. Differences between ASPE and IFRS are explained in a separate section, to provide clarity regarding one set of standards as compared with the other. Where there are significant differences in the standards, a separate section demonstrating the application of ASPE for certain types of transactions have also been included. In addition, a summary chart comparing IFRS and ASPE is also provided. Assignment material reflects both IFRS and ASPE so that applications reflect the dual GAAP environment.

TECHNICAL KNOWLEDGE.There is a base level of expertise that must become part of every accountant's body of knowledge: how to record a receivable, capitalize a lease, account for a pension, or prepare a statement of cash flows. Some of the transactions that need to be accounted for are very complex, and the specific rules must be mastered.

PROFESSIONAL JUDGEMENT.Intermediate Accounting guides students in developing professional judgement by explicitly examining the variables that companies consider when evaluating their options, and the criteria that accountants use to make choices. Many opportunities to develop and improve judgement are provided in the case material.

REALISTIC CASES. More than 60 cases are included in Intermediate Accounting.They portray realistic situations, including Indigenous ways of knowing, usually with multiple financial reporting implications. Students must put themselves into the situation and grapple with the facts to arrive at the most appropriate accounting policies for the circumstances. A blend of professional judgement and technical skills is needed to respond to a case. Case coverage is not limited to;one-chapter “bites” but often integrates material learned to date. For those trying to build a base of professionalism, the use of cases consistently over the term is highly recommended. Cases can be assigned for class debriefing, class presentations, or written assignments.

ETHICAL ISSUES. Many chapters discuss accounting issues that raise ethical concerns. These concerns are highlighted in the chapter. Where ethics is particularly problematic, Intermediate Accounting includes a separate “Ethical Issues” section to help students focus on the ethical aspects of policy choice. Ethics assignment material has also been incorporated into the case material.