Intermediate Accounting, 14th Canadian Edition
By Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Laura D. Wiley, Irene M. Wiecek, and Bruce J. McConomy
Intermediate Accounting continues to be the gold standard when it comes to helping students connect the what, how, and why of accounting. Through strategic content updates that will resonate with students and the integration of high-quality learning tools, the 14th Canadian Edition presents an active, hands-on approach designed to develop problem solving skills and better prepare the next generation of accounting professionals.
The transition from introductory accounting into intermediate can often be overwhelming, which is why WileyPLUS for Intermediate Accounting has been developed with a series of resources designed to more effectively support students, like our new Accounting Cycle Simulation and Adaptive Chapter 0: Accounting Cycle Review with remediation. To ensure maximum understanding while students work through the course content, WileyPLUS provides an interactive learning experience with solution walkthrough videos, demonstration problems, adaptive assignments, and high-quality homework that’s mapped to Blooms Taxonomy and scaffolded in difficulty. The course’s varied assessment types include but are not limited to, hundreds of algorithmic questions, multi-part problems, exercises, and Task based simulation end of chapter problems.
Throughout WileyPLUS, there are also a variety of practical activities to develop student decision making skills within the accounting context. These include Integrated Cases with real world applications and various data analytics activities such as Gradable Excel assignments, Tableau and Power BI Data Visualization assignments, and Analytics in Action problems. These applications all map to chapter material as well, making it easy for instructors to determine where and how to incorporate key skill development into their syllabus.
Take a Look Into WileyPLUS
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Learn Accounting Concepts Efficiently
New! Accounting Cycle Simulation helps students understand the accounting cycle through interactive, scenario-based practice with dynamic, just-in-time feedback.
Adaptive Assignments offer students an individualized learning path through course content that is tailored to their specific needs. By continuously assessing student understanding and providing just-in-time instruction and targeted remediation, Adaptive Assignments close knowledge gaps through scaffolded learning. With increased flexibility, customization, and actionable analytics to support student and class intervention, these Adaptive Assignments make teaching and learning more efficient than ever.
Solution Walkthrough Videos guide students through multi-learning objective problems to help consolidate understanding and provide 24/7 homework assistance for more than 50 end-of-chapter problems. These videos break down the process of completing complex questions to build students’ problem-solving skills and confidence.
Put into Practice (PiP) Exercises reinforce the basics while also explaining the reasoning behind key accounting concepts. Each PiP exercise includes a fact set, instructions, and a solution, and are included as algorithmic problems within WileyPLUS, allowing students to practice these scenario-based questions until they are mastered.
Develop Data Analytics Skills
New! Data Analysis Technology Bootcamps in WileyPLUS give students a scaffolded introduction to some of the most popular technologies used in industry, including Excel, Power BI, Tableau, Alteryx, and SQL. Each bootcamp features video walkthroughs, automatically graded concept check questions, and application questions with accompanying video solutions. Build student confidence and technological agility with these customizable assignments.
Gradable Excel Assignments ask students to complete specific exercises in a live Microsoft Excel worksheet using formulas and functions, helping them develop their Excel knowledge. With exercises based on accounting questions from the book, automatic grading, and immediate and detailed cell-level feedback, students build key skills needed to be competitive in today’s job market, while enhancing their understanding of core accounting concepts.
Solution Walkthrough Videos with Excel walk students through how to use basic and advanced Excel functions to solve select accounting problems from the text.
Data Analytics Problems in the end-of-chapter material provide students with opportunities to analyze information and prepare simple visualizations using Excel. These problems range in difficulty and offer varied data sets, providing instructors with the flexibility to assign problems that are at the appropriate level for their students.
Power BI and Tableau Visualization Assignments in WileyPLUS familiarize students with popular data analysis tools they will encounter in the workplace. Students analyze a variety of visualizations available in both software programs, completing assessment questions along the way to check their understanding and ability to interpret different forms of information, and practice making informed business decisions.
What’s New to This Course
- New! Accounting Cycle Simulation helps students understand the accounting cycle through interactive, scenario-based practice with dynamic, just-in-time feedback.
- New! Data Analysis Technology Bootcamps in WileyPLUS give students a scaffolded introduction to some of the most popular technologies used in industry, including Excel, Power BI, Tableau, Alteryx, and SQL. Each bootcamp features video walkthroughs, automatically graded concept check questions, and application questions with accompanying video solutions. Build student confidence and technological agility with these customizable assignments.
- Updated! WileyPLUS Adaptive Assignments, including updated questions in the Adaptive Chapter 0: Accounting Cycle Review help students recall and retain foundational material, increasing their mastery of course concepts.
- Updated! Gradable Excel Assignments are available in WileyPLUS. These questions ask students to complete specific exercises in a live Microsoft Excel worksheet using formulas and functions, helping them develop their Excel knowledge. With exercises based on accounting questions from the book, automatic grading, and immediate and detailed cell-level feedback, students build key skills needed to be competitive in today’s job market, while enhancing their understanding of core accounting concepts.
Content Changes:
- Enhanced emphasis on sustainability has been included throughout the text, including relevant cases and research assignments. Since stakeholders are increasingly calling on accountants to collect data, prepare reports, and provide assurance on sustainability matters, the inclusion of this topic is important in the preparation of students for their future careers.
- New emphasis on readability focuses on using fewer abbreviations, clearer language, shorter sentences, numbered lists, and clearer headings.
- New Indigenous Perspectives written by Elaine Uppahuak have been incorporated throughout the text. Elaine has spent her career working with the Government of Nunavut and is an active member of the Aboriginal Financial Officers Association board where she is devoted to helping advance financial literacy and economic development within Indigenous communities. Each story will highlight Indigenous businesses and communities across Canada in relation to select chapter concepts, encouraging students to reflect on the diverse experiences of Indigenous peoples within the business world.
- New AI coverage and discussion throughout the text.
- New IFRS 18 Standard has been incorporated into relevant chapters and select end of chapter questions to reflect the upcoming 2027 changes.
- Analytics in Action features have been updated throughout the text. These features use Power BI visualizations and dashboards to tell the stories of various business scenarios through data.
- Updated Put into Practice (PiP) exercises have been edited for clarity where necessary.
- New CPA Competency Map Integration has been added which includes a mapping of the content in each chapter against the 2022 CPA Competency Map and Knowledge Supplement. This appears in Appendix E.
- Updates to the material have been made where needed to ensure all content is current and accurate. In instances where an important change in an accounting standard or its application has occurred, a significant change wordmark will appear in the text.
Donald E. Kieso, PhD, CPA, received his bachelor’s degree from Aurora University and his doctorate in accounting from the University of Illinois. He has served as chairman of the Department of Accountancy and is currently the KPMG Emeritus Professor of Accountancy at Northern Illinois University. He has public accounting experience with Price Waterhouse & Co. (San Francisco and Chicago) and Arthur Andersen & Co. (Chicago) and research experience with the Research Division of the American Institute of Certified Public Accountants (New York). He has done post doctorate work as a Visiting Scholar at the University of California at Berkeley and is a recipient of NIU’s Teaching Excellence Award and four Golden Apple Teaching Awards. Professor Kieso is the author of other accounting and business books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Illinois CPA Society. He has served as a member of the Board of Directors of the Illinois CPA Society, the AACSB’s Accounting Accreditation Committees, the State of Illinois Comptroller’s Commission, and he has served as Secretary-Treasurer of the Federation of Schools of Accountancy and as Secretary-Treasurer of the American Accounting Association. Professor Kieso is currently serving on the Board of Trustees and Executive Committee of Aurora University, as a member of the Board of Directors of Kishwaukee Community Hospital, and as Treasurer and Director of Valley West Community Hospital. From 1989 to 1993, he served as a charter member of the national Accounting Education Change Commission. He is the recipient of the Outstanding Accounting Educator Award from the Illinois CPA Society, the FSA’s Joseph A. Silvoso Award of Merit, the NIU Foundation’s Humanitarian Award for Service to Higher Education, a Distinguished Service Award from the Illinois CPA Society, and in 2003, an honorary doctorate from Aurora University.
Jerry J. Weygandt, PhD, CPA, is Arthur Andersen Alumni Emeritus Professor of Accounting at the University of Wisconsin-Madison. He holds a PhD in accounting from the University of Illinois. Articles by Professor Weygandt have appeared in the Accounting Review, Journal of Accounting Research, Accounting Horizons, Journal of Accountancy, and other academic and professional journals. These articles have examined such financial reporting issues as accounting for price-level adjustments, pensions, convertible securities, stock option contracts, and interim reports. Professor Weygandt is author of other accounting and financial reporting books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Wisconsin Society of Certified Public Accountants. He has served on numerous committees of the American Accounting Association and as a member of the editorial board of the Accounting Review; he also has served as president and secretary-treasurer of the American Accounting Association. In addition, he has been actively involved with the American Institute of Certified Public Accountants and has been a member of the Accounting Standards Executive Committee (AcSEC). He has served on the FASB task force that examined the reporting issues related to accounting for income taxes and served as a trustee of the Financial Accounting Foundation. Professor Weygandt has received the Chancellor’s Award for Excellence in Teaching and the Beta Gamma Sigma Dean’s Teaching Award. He is the recipient of the Wisconsin Institute of CPA’s Outstanding Educator’s Award and the Lifetime Achievement Award. In 2001, he received the American Accounting Association’s Outstanding Educator Award.
Terry D. Warfield, PhD, CPA, is the PwC Professor in Accounting at the University of Wisconsin-Madison. He received a B.S. and M.B.A. from Indiana University and a Ph.D. in accounting from the University of Iowa. Professor Warfield’s area of expertise is financial reporting, and prior to his academic career, he worked for five years in the banking industry. He served as the Academic Accounting Fellow in the Office of the Chief Accountant at the U.S. Securities and Exchange Commission in Washington, D.C., from 1995–1996. Professor Warfield’s primary research interests concern financial accounting standards and disclosure policies. He has published scholarly articles in The Accounting Review, Journal of Accounting and Economics, Research in Accounting Regulation, and Accounting Horizons, and he has served on the editorial boards of The Accounting Review, Accounting Horizons, and Issues in Accounting Education. He has served as president of the Financial Accounting and Reporting Section, the Financial Accounting Standards Committee of the American Accounting Association (Chair 1995–1996), and on the AAAFASB Research Conference Committee. He also served on the Financial Accounting Standards Advisory Council of the Financial Accounting Standards Board, and he currently serves as a trustee of the Financial Accounting Foundation. Professor Warfield has received teaching awards at both the University of Iowa and the University of Wisconsin, and he was named to the Teaching Academy at the University of Wisconsin in 1995. Professor Warfield has developed and published several case studies based on his research for use in accounting classes. These cases have been selected for the AICPA Professor-Practitioner Case Development Program and have been published in Issues in Accounting Education. He served on the Board of the Illinois CPA Society, then AACSB’s Accounting Accreditation Committees, the State of Illinois Comptroller’s Commission, as secretary-treasurer of the Federation of Schools of Accountancy, and as secretary-treasurer of the American Accounting Association.
Laura D. Wiley, PhD, CPA is the Assistant Department Chair and distinguished instructor in the Department of Accounting at the E. J. Ourso College of Business, Louisiana State University (LSU). She also serves as the Director of International Experience for the E. J. Ourso College of Business in which she leads study abroad excursions to Central and South America and Europe. She joined the faculty at LSU in 1996 and teaches financial accounting and auditing courses. Dr. Wiley is active in the Society of Louisiana CPAs (LCPA) and served as the chair of the Accounting Education Issues committee from 2014 to 2023. In 2022, she was awarded the LSU Communication Across the Curriculum Outstanding Faculty Award. She also received the LSU Tiger Athletic Foundation Outstanding Instructor Award in 2019 and the LCPA’s Distinguished Achievement in Education award in 2015. Dr. Wiley is co-author of an auditing textbook, currently in its second edition, also published by John Wiley & Sons, titled Auditing: A Practical Approach with Data Analytics. Dr. Wiley has consulted with large and small companies on accounting-related matters and conducted onsite training sessions for company employees. Over her career, she has also been a presenter at numerous CPE events and published in the Journal of Accounting Education. Prior to coming to LSU, she was an auditor with PricewaterhouseCoopers in Atlanta, Georgia. She earned her bachelor’s degree in accounting from The University of Alabama, her master’s degree in accounting from LSU, and her doctorate in human resource education and workforce development from LSU. Her research interests are accounting education and financial literacy. She is an active licensed CPA in the state of Louisiana.
Irene M. Wiecek, is a Professor of Accounting, Teaching Stream, at the University of Toronto, where she is cross-appointed to the Institute for Management & Innovation and the Joseph L. Rotman School of Management. She has taught financial reporting in various programs, including the Commerce Program (Accounting Specialist) and the CPA-accredited Master of Management & Professional Accounting Program (MMPA). The Director of the MMPA Program, she co-founded (in 2004) and was Director of the CPA/Rotman Centre for Innovation in Accounting Education, which supported and facilitated innovation in accounting education until 2018. Irene founded and currently directs the BIGDataAIHUB, an interdisciplinary space for faculty, students, and stakeholders to discuss and learn about issues related to big data and artificial intelligence. She has been involved in professional accounting education for many years, sitting on various provincial and national professional accounting organization committees. In the area of standard setting, she was a member of the IFRS Discussion Group (IDG) until 2020. Irene has authored and co-authored numerous publications and is on the editorial board of Accounting Perspectives. In 2019 she was appointed to the CPA Competency Map Task Force (which is taking a blank slate approach to creating a fresh CPA Competency Map, laying out the skills and competencies required of the future-focused CPA). She is a member of CPA Canada’s Data Governance Committee, which examines the prominent role that CPAs will continue to play in a data-rich environment.
Bruce J. McConomy, PhD, CPA, CA, is a Professor of Accounting and a KPMG Foundation Fellow in Accounting at the Lazaridis School of Business and Economics at Wilfrid Laurier University in Waterloo, Ontario. He was a Senior Audit Manager with Deloitte before returning to Queen’s University to obtain his Ph.D. in accounting. Bruce is Director of the Graduate Diploma in Accounting program at Laurier and was Director of the CPA Ontario Centre for Capital Markets and Behavioural Decision Making, and its predecessor Centre, from 2005 to 2018. He has been teaching intermediate financial accounting since 2000 in Laurier’s B.B.A. and M.B.A. programs, and also teaches in Laurier’s Ph.D. in Management program. Bruce has published articles in Contemporary Accounting Research; Journal of Accounting, Auditing and Finance; Journal of Business, Finance and Accounting; Accounting, Auditing & Accountability Journal; Canadian Journal of Administrative Sciences; Critical Perspectives on Accounting; Accounting History; and Accounting Perspectives. He has also published cases in Issues in Accounting Education, Canadian Financial Accounting Cases—3rd edition, Accounting Perspectives, and Journal of Accounting Case Research. Bruce is a member of the Academic Advisory Committee of the Accounting Standards Board. He is also an Associate Editor and is on the Advisory Committee of Accounting Perspectives and is on the Editorial Advisory Board of the International Journal of Accounting & Information Management.
Volume 1
1. The Canadian Financial Reporting Environment 2. Conceptual Framework Underlying Financial Reporting 3. Data, Decisions, and Measurement 4. Reporting Financial Performance 5. Financial Position and Cash Flows 6. Revenue Recognition 7. Cash and Receivables 8. Inventory 9. Investments 10. Property, Plant, and Equipment: Accounting Model Basics 11. Depreciation, Impairment, and Disposition 12. Intangible Assets and Goodwill
Volume 2
13. Non-Financial and Current Liabilities 14. Long-Term Financial Liabilities 15. Shareholders’ Equity 16. Complex Financial Instruments 17. Earnings per Share 18. Income Taxes 19. Pensions and Other Post-Employment Benefits 20. Leases 21. Accounting Changes and Error Analysis 22. Statement of Cash Flows 23. Other Measurement and Disclosure Issues
Appendix A: Time Value of Money Tables Appendix B: A Summary of the Case Primer Appendix C: The Accounting Information System* Appendix D: Sustainability Reporting Appendix E: CPA Competency Map Coverage* *Online only