Financial Accounting,3rd Edition

■ Financial Accounting,3rd Edition


■ Authors : J. David Spiceland, Wayne M Thomas, Don Herrmann


■ Pub Date : 2013.7.10 /   Copyright : 2014 


■ 764 Page /  McGraw-Hill International Edition


■ 정가 40,000원


■ ISBN : 9780071315814


■ About the Authors

J. David Spiceland received his MBA at Southern Illinois University and his Ph.D. at University of Arkansas. Dr. Spiceland has been recognized for his teaching, and is active in the AAA.

Wayne Thomas is the John T. Steed Chair in Accounting at the University of Oklahoma, where he teaches Introductory Financial Accounting to nearly 600 students per year. He received his bachelor's degree in accounting from Southwestern Oklahoma State University, and his master's and PhD in accounting from Oklahoma State University. 

Don Herrmann is the Arthur Andersen Professor of Accounting at Oklahoma State University where he teaches financial accounting, intermediate accounting, and a doctoral-level course in financial accounting research. He received his bachelor's degree in business from John Brown University, his master's degree in accounting from Kansas State University, and his PhD in accounting from Oklahoma State University.


■  About the book



The financial accounting course is taken by all business majors, usually in their sophomore year. Financial accounting reports summarise the financial health, operating results, and changes in financial status for a business as viewed over a specific period of time. This information is used by outside parties such as stockholders, creditors, prospective investors, regulatory agencies, and the general public. The financial accounting market can be segmented into three categories: preparer (traditional), balanced, and user (innovative). Spiceland/Thomas/Herrmann falls into the balanced segment by offering a balance between the user and preparer orientation. The decision maker's perspective used throughout the book competes directly with Kimmel's pedagogical approach.


Financial Accounting has been revised based on the great success of Financial Accounting 2e, Spiceland, Thomas, Herrmann. The content was developed with feedback from over 480 reviewers and focus group participants from across the country. The authors, David Spiceland, Wayne Thomas and Don Herrmann, have developed a unique text based on over 50 collective years of experience in the classroom. They've brought together best practices like highlighting Common Mistakes, offering frequent Let's Review exercises, integrating the course with a running Continuing Problem, demonstrating the relevance of the course to non-majors with a Career Corner, and communicating it all in a student-friendly Conversational Writing Style.

■ Table of Contents


Chapter 1: A Framework for Financial Accounting
Chapter 2: The Accounting Cycle: During the Period
Chapter 3: The Accounting Cycle: End of the Period
Chapter 4: Cash and Internal Controls
Chapter 5: Receivables and Sales
Chapter 6: Inventory and Cost of Goods Sold
Chapter 7: Long-Term Assets
Chapter 8: Current Liabilities
Chapter 9: Long-Term Liabilities
Chapter 10: Stockholders' Equity
Chapter 11: Statement of Cash Flows
Chapter 12: Financial Statement Analysis
Appendix A: American Eagle Outfitters, Inc., 2012 Annual Report
Appendix B: The Buckle, Inc., 2012 Annual Report
Appendix C: Time Value of Money
Appendix D: Investments
Appendix E: International Financial Reporting Standards
Future Value and Present Value Tables
Summary of Ratios Used in This Book
Framework for Financial Accounting
Representative Chart of Accounts



■  Key features


McGraw-Hill Connect Accounting features available for Spiceland, Financial Accounting 3e include:

New Intelligent Response Technology Connect Accounting's redesigned student interface for end-of-chapter assessment content that:

Improves answer acceptance to reduce student frustration with formatting issues (such as rounding);

Provides a general journal application that looks and feels more like what you would find in a general ledger software package; and

For select questions, provides an expanded table that guides students through the process of solving the problem.

New SmartBook Fueled by LearnSmart, the most widely used and intelligent adaptive learning resource, SmartBook is the first and only adaptive reading experience available today. SmartBook personalises content for each student in a continuously adapting and engaging reading experience. Students are more likely to master and retain important concepts, coming to class better prepared, and are more likely to retain knowledge, stay in class and get better grades.

New Media-rich eBook allows students to highlight, take notes, and bookmark important spots in the text, making reviewing for quizzes and tests easier than ever.

New 26 Interactive Illustrations provide online explanations of key illustrations in the chapter, walking students step-by-step through the illustration, to deepen students' understanding of the concept or the calculation shown. Available via embedded eBook links, Connect Accounting Library tab-chapter dropdown menu, and Online Learning Center chapter dropdown menu.

Revised Chapter 2 content based on reviewer comments-key material coverage that often determines adoption decisions

Illustrations of the ten transactions have been changed to show the detailed account names that appear under the three components of the basic accounting equation. The illustrations now show the cumulative impact of all transactions, making the format and treatment of this content consistent in Chapters 2 and 3 for clearer teaching and surer learning.

In addition, multi-part Summary of the Measurement Process illustrations (pages 77 through 81 in 2e) have been replaced with text-based discussion and presentation of journal entries and posting to T-accounts for all 10 transactions covered in the chapter. The text-based treatment walks students through the content, helping them know what to focus on.

Revised Chapter 5 content based on reviewer comments-content now sets the stage for material that follows

Based on reviewer feedback, two pieces of chapter content have been reorganized, for a more logical presentation and flow: (1) Sales returns and allowances are now covered before sales discounts; 2) The aging method is now covered before demonstrating how to write off accounts receivable as uncollectible.

Revised Chapter 6 content based on reviewer comments-improves flow of material

The coverage of the multiple-step income statement has been moved earlier in the chapter, so that students can follow the flow of inventory costs into the format and presentation of those costs in the multiple-step income statement.

Illustration 6-9 have been significantly revised to more clearly compare the cost of goods sold and ending inventory under the three cost flow assumptions.

Also, based on reviewers' suggestions, an illustration has been added to demonstrate freight-shipping terminology.

New Exercise Presentation PowerPoints Instructors will appreciate the ability to access the powerpoint slides used to create Connect Accounting's Guided Examples available via the Online Learning Center and Connect Accounting Library tab.

Revised all EOC numbers, including all real-world data.

Added a heading (in the form of a question) to each IFRS box in the chapters.

McGraw-Hill Connect Accounting features

Interactive Presentations

Guided Examples

Learnsmart's adaptive learning system ensures students are learning faster, studying more efficiently, and retaining more knowledge. It pinpoints concepts the student does not understand and maps out a personalized study plan for success. Based on students' self-diagnoses of their proficiency, LearnSmart intelligently provides students with a series of adaptive questions. This provides students with a personalized one-on-one tutor experience.

Conversational Writing Style The authors took special care to write a textbook that fosters a friendly dialogue between the text and each individual student. The tone of the presentation is intentionally conversational - creating the impression of speaking with the student, as opposed to teaching to the student.

Common Mistakes boxes highlight mistakes made by financial accounting students throughout each of the chapters. With greater awareness of the pitfalls the average student will find in their first accounting class, students can avoid making the same mistakes and gain a deeper understanding of the chapter material.

The Flip Side feature demonstrates how various transactions are viewed by each participant. Including the “flip side” of a transaction ' in context ' enhances the student’s understanding of both the initial and the related transaction. Selected homework in the end-of-chapter materials also includes the Flip Side transactions for students to reinforce their understanding of this concept.

Continuing Problem The story of Great Adventures progresses from chapter to chapter, encompassing the accounting issues of each new chapter as the story unfolds. This progressive problem allows students to see how each chapter’s topics can be integrated into the operations of a single company.

Decision Maker's Perspective Each chapter includes one or more distinctive Decision Maker's Perspective sections, which offer insights into how the information discussed in the chapters affects decisions made by investors, creditors, managers, and others. Each chapter also contains Decision Points highlighting specific decisions in the chapter that can be made using financial accounting information. This feature competes directly with Kimmel's Decision Toolkit.

Real World Focus Students learn best when they see how concepts are applied in the real world. For that reason, real-world examples from companies, such as Dell and Apple, are used extensively and routinely to enhance the presentation. The real-world focus adds realism to discussions and serves as the foundation for exercises, problems, and cases.

Strong Supplements Package The authors write all of the major supplements for Financial Accounting, including the Testbank, Solutions Manual, and Instructor’s Manual. With iPod material, narrated PowerPoints, online quizzing, Working Papers, Excel templates and QuickBooks templates integrated into the end-of-chapter material, Spiceland, Financial Accounting provides the cutting-edge technology demanded by today’s accounting instructors and students.

Unique End-of-Chapter Cases The Additional Perspectives section of each chapter offers the most distinctive variety of case material available in financial accounting textbooks. Cases and activities are designed to allow students to apply the knowledge and skills they’ve learned in provocative, real or realistic situations. Each chapter offers an engaging mix of activities and opportunities to perform real-world financial accounting analysis.

The Inventory (6) chapter focuses only on the perpetual system. Appendix A, “Recording Inventory Transactions Using a Periodic System.” In this appendix, journal entries for periodic and perpetual appear side-by-side

The same content development editor (Ann Torbert, director of development) who edited Kimmel’s Financial Accounting worked closely with the authors on every line, every illustration and every problem to ensure we have market-leading material in every chapter.

Concise Chart of Accounts appears in Ch. 2 and a full Chart of Accounts is inside the back cover. Account titles used in text and EOC are consistent with Chart of Accounts.

Let's Review exercises provide a mid-chapter exercises that provided a more comprehensive and meaningful review of key chapter segments.

IFRS boxes appear in select chapters and marginal notes are in the IFRS appendix (E) highlighting differences between GAAP and IFRS.

Marginal Accounting Equation Analyses clearly demonstrate the equality of the accounting equation, as well as the effects of the transactions on the stockholders' equity accounts. Marginal Equation Analyses appear where there is no existing mini-financial statement display.

Analysis Section comparing 2 well-known, publicly traded companies, American Eagle and Buckle, appears at the end of chapters 4-11. Chapter 12 provides a comprehensive financial analysis of UnderArmour and Nike

Earnings Management Cases are included in chapters 5-12, featuring Nike.

Added several narrated Let's Review exercises.

Revised the line art for newer look.

Updated the real-world data in the analysis sections in all chapters.


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