Retained Features

• Comprehensive Problem - Chapters 1 through 12 include a comprehensive problem designed to integrate concepts across chapters. By studying a problem series with the same company facing different accounting issues, students can focus on particular accounting concepts without the distraction of a new setting for each concept and gain a better understanding of the interrelationships between various accounting concepts.
  
  
• Emphasis on decision-making concepts applicable to both service and manufacturing companies. The TOC places decision making up front. Topics are introduced within a decision-making context. For example “cost behavior” is introduced within the context of operating leverage. The focus is on how cost behavior affects decisions such as “Am I sure that volume will be high that I want to employ a fixed cost structure or reduce operating leverage risk by building a variable cost structure.”
  
  
• Check Yourself areas throughout each chapter ask students to stop and think about the concept before moving on to the next.
  
  
• Inclusion of a Self-Study Review Problem at the end of each chapter. This is a representative problem with a detailed solution to be worked before attempting end of chapter problems. There are also audio-narrated slide presentations on the Online Learning Center.
  
  
• Distinctive organization allows for greater emphasis to be placed on decision-making and easier comprehension of concepts. For example, cost behavior and cost/volume/profit analysis are covered before cost accumulation. Important cost terms and concepts are introduced in context where they can be linked with decision-making skills.
  
  
• Delayed focus on manufacturing - Procedural topics like manufacturing cost flow, job-order and process costing are placed at the end of the text while traditional books discuss these topics early. Understanding the assignment of overhead costs within a manufacturing context requires a comprehension of cost behavior, direct versus indirect costs, and the mechanics of allocation. Therefore, coverage of these topics precedes the introduction of manufacturing cost flow. This also allows the text to focus more on service and not-for-profit entities.
  
  
• A Look Back/A Look Forward - Each chapter ends with a look back at the main points of the chapter, followed by a preview of the upcoming chapter, with an emphasis on how the concepts build on one another. This approach is yet another example of the focus on key concepts.
  
  
• Real World Focus - Each chapter begins with The Curious Accountant which poses a thought-provoking question based on the chapter content. These questions involve real accounting issues faced by real companies. The questions are answers later in the chapter.
  
  
• Throughout the book, Reality Bytes and Focus on International Issues boxes provide diverse examples of accounting applications. When real-world companies are used in an example, Edmonds uses actual data from the company. Real companies are highlighted in blue font.
  
  
• Brief, manageable length proves “less is more.” This 14-chapter textbook reflects the effort to address the information overload problem.
  
  
• Exercises Series A & B and Problem Series A & B - There are two sets of exercises and problems, allowing instructors to assign one set for homework and one for in-class work.
  
  
• Check Figures - The figures provide a quick reference for students to check they are on the right track to solving the problem.
  
  
• Analyze, Think, Communicate - End-of-chapter material concludes with a section of analytical, critical thinking, and communication problems that require critical thinking and interpretation. These include a Business Application Case (drawn from real-world events), a Group Assignment, a Research Assignment (based on current articles), a Writing Assignment, an Ethics Case, and Working with Excel and Mastering Excel problems.
  
  
• Excel Spreadsheet screenshots are used as examples for students where applicable. Each chapter includes Working with Excel and Mastering Excel problems. Both problems require students to create spreadsheets and include Excel tips to help students. Excel templates are provided for specific end-of-chapter problems and noted by a logo.
  
  
• Coverage of Corporate Governance - The enactment of Sarbanes-Oxley (SOX) has signaled the need for educators to expand the subject of ethics to a broader concept of corporate governance. The coverage begins in Chapter 1, including four exercises, two problems, and one case on the topic. Coverage is also included on four specific areas including:
  
  
• Quality of Earnings explains how accountants manipulate financial statements.
  
  
• Standards of Ethical Conduct for Management Accountants focuses on the policies and practices promulgated by the Institute of Management Accountants.
  
  
• The Fraud Triangle discusses the three common features of criminal and ethical misconduct including opportunity, pressure and rationalization.
  
  
• Specified Features of Sarbanes-Oxley (SOX) covers four key provisions of SOX that are applicable to managerial accountants.
  
  
• Corporate Governance Cases - Following introduction of corporate governance in Chapter 1, each chapter includes a case study on the topic, allowing continual coverage of this critical topic throughout the course.