Libby Financial Accounting 7e
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What's New in 7e
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MH Connect Accounting

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Financial Accounting, 7/e

Robert Libby, Cornell University - Ithaca
Patricia A. Libby, Ithaca College
Daniel G. Short, Texas Christian University

ISBN: 0078111021
Copyright year: 2011

What's New in 7e

  • NEW McGraw-Hill’s Connect uses end-of-chapter material pulled directly from the textbook to create static and algorithmic questions that can be used for practice, homework, quizzes, and tests. FAF 3e Connect also includes Self Quiz and Study (SQS) that connects each student to the learning resources needed for success in the course. For each chapter, students: Take a practice test to initiate the Self Quiz and Study; Immediately upon completing the practice test, see how their performance compares to chapter learning objectives within chapters; Receive a Study Plan that recommends specific readings from the text, supplemental study material, and practice work that will improve their understanding and mastery of each learning objective.
  • IFRS Coverage Anticipating a greater emphasis on International Financial Reporting Standards (IFRS) in the United States and recognizing its presence in more than 100 countries worldwide, we have integrated selected IFRS topics in appropriate chapters at a level suitable for introductory financial accounting so students will be well-prepared to use statements prepared under IFRS in their careers. The coverage in Libby/Libby/Short exceeds the standards suggested by the PricewaterhouseCoopers (PwC) IFRS Ready program (2010) for sophomores and juniors.
  • Pause for Feedback and Self-Study Quiz The Self-Study Quizzes from previous editions have been revised to Pause for Feedback and Self-Study Quiz. Research shows that students learn best when they are actively engaged in the learning process. This active learning feature engages the student, provides interactivity, and promotes efficient learning. These quizzes ask students to pause at strategic points throughout each chapter to ensure they understand key points before moving ahead.
  • New Comprehensive Problems Selected chapters include problems that cover topics from earlier chapters to refresh, reinforce, and build an integrative understanding of the course material.
  • Ratios The authors have reorganized the coverage of ratios, moving the current ratio to the discussion of the classified balance sheet in Chapter 2 (in place of debt/equity) and simplifying the discussion in Chapter 5 by substituting return on assets for return on equity which has been moved to Chapter 14.

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