Accounting Fundamentals OLC
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Student Edition
Instructor Edition
Fundamental Accounting Principles, 12/e

Kermit D. Larson, University of Texas - Austin
Tilly Jensen, Northern Alberta Institute of Technology

ISBN: 9970951713
Copyright year: 2007

Feature Summary


Student Success Cycle
Student success at the post-secondary level is not measured by how much knowledge a student has acquired, but rather by how well a student can use knowledge. The Student Success Cycle, illustrated by a circular icon, reinforces decision-making skills by highlighting key steps toward understanding and critically evaluating the information the student has just read. Read, Do, Check, Apply—this reinforces active learning (as opposed to passive learning). Displayed on each chapter-opening page (as well as with Checkpoint questions, Demonstration Problems, and end-of-chapter material), the Student Success Cycle is also fully integrated with the Student Success Centre.

Student Success Centre
Reinforcing its commitment to student success, the Larson/Jensen Online Learning Centre has been completely redesigned and redeveloped with the student in mind. Complementing the pedagogy of the text, the Student Success Cycle is now fully integrated into this online resource. Students can review each learning objective and following the steps of the Student Success Cycle, work through self-study quizzes and critical thinking exercises for each learning outcome. Or, they can start at the chapter level and if challenged by a particular concept while completing the quizzes, focus into this specific learning objective using the Student Success Cycle as a guide.

The Centre continues to offer self-study quizzes, a searchable glossary, crossword puzzles to practice key terms for each chapter, Excel Templates for select problems in the text, and additional resources including “Extend Your Knowledge” modules and video segments.

Critical Thinking Challenge
An essential element of critical thinking is the ability to ask questions while reading (or listening or speaking). These exercises are designed to help students develop the skills related to questioning. Suggested answers are posted on the online Student Success Centre.

Previously called Flashback, this series of questions within the chapter reinforces the immediately preceding material. These questions allow the student to “Do” problem material referencing what they have just learned, and answers at the end of each chapter will then allow them to “Check” their work. Additional Quick Study questions (available at the end of each chapter) are identified for the student to “Do,” with answers available online to “Check.”

Analysis Component
An analysis component has been added to each mid- and end-of-chapter demonstration problem, taking students beyond the numbers and promoting critical thinking. Several exercises, problems, and Focus on Financial Statements questions also include an analysis component to provide opportunities for students to practise these skills.


Real-World Focus
Like previous editions, the Twelfth Canadian Edition includes strong ties to the real world of accounting, be it through detailed interviews with businesspeople for the chapter-opening vignettes, examples of ethical standards and treatments, or annual reports for end-of-chapter material. This integration with real-world companies helps engage students while they read.

Learning Objectives
Learning Objectives have long been a standard in the Larson textbook. By giving students a head start on what the following material encompasses, the text readies them for the work ahead. These Learning Objectives are fully integrated into the online Student Success Centre, allowing the students to actively focus on one objective at a time.

Did You Know?
Social responsibility continues to be important for students to learn early in their accounting courses. Through the Did You Know? feature, accounting’s role in ethics and social responsibility is described by both reporting and assessing its impact. Relating theory to a real-life situation piques interest and reinforces active learning.

Judgement Call
This feature requires students to make accounting and business decisions by using role-playing to show the interaction of judgement, awareness, and the impact of decisions made. Guidance answers are available at the end of each chapter.

Extend Your Knowledge
Supplementary material has been developed to explore some topics in more detail than the textbook can allow. When available, the Student Success Centre icon is displayed in the margin, alerting students to visit if they choose to delve deeper into the material.

Annual Reports
Features and assignments that highlight companies such as WestJet (a company that provides services) and Danier (a merchandiser) show accounting in a modern and global context. By having students go directly to the financial statements of real companies, they remain engaged in the active learning process. Portions of these annual reports are reproduced at the end of both Volumes 1 and 2.


Each chapter includes a summary of the chapter by Learning Objective, to reinforce what students have just learned.

Guidance Answers to Judgement Call
These discuss the Judgement Call boxes presented earlier in the chapter, and reinforce the need for decision making and critical thinking skills. This feature fits into the Student Success Cycle by reinforcing the “Apply” step.

Guidance Answers to Checkpoint
The Checkpoint material throughout the chapter allows students to pause and check their progress. This feature reinforces the “Do,” “Check,” and “Apply” steps of the Student Succes Cycle.

All terms highlighted in the chapter and their page references are included.


Demonstration Problems
These problems reinforce the chapter material and further bolster the Student Success Cycle.

These short-answer questions reinforce the chapter content by Learning Objective.

Quick Study
These single-topic exercises give the students a quick test of each key element in the chapter and are referenced to Learning Objectives. Answers to these items are available on the online Student Success Centre.

Exercises provide students with an additional opportunity to reinforce basic chapter concepts by Learning Objective.

Problems typically incorporate two or more concepts. As well, there are two groups of problems: A problems and Alternate or B problems. B problems mirror the A problems to help improve understanding through repetition.

Ethics Challenge
Each chapter includes at least one Ethics Challenge to reinforce critical thinking skills for the students and open up discussion about various ethical topics.

Focus on Financial Statements
Each chapter includes a technical and analytical question that incorporates into the financial statements all major topics covered up to that point. New to the Twelfth Canadian Edition are additional Focus on Financial Statements questions, available online at the Student Success Centre.

Critical Thinking Mini Cases
New to the Twelfth Canadian Edition, the Mini Cases give students the opportunity to apply critical thinking skills to concepts learned in the chapter, thus further reinforcing the “Apply” step of the Student Success Cycle.

Instructors: To experience this product firsthand, contact your McGraw-Hill Education Learning Technology Specialist.