Accounting: Tools for Business Decision Making, 7th Edition Accounting: Tools for Business Decision Making, 7th Edition By Paul Kimmel, Jerry Weygandt, and Don Kieso SINGLE-TERM $69 USD | $99 CAN MULTI-TERM $119 USD | $155 CAN Accounting: Tools for Business Decision Making, 7th Edition is a two-semester financial and managerial accounting course designed to show students the importance of accounting in their everyday lives. Emphasizing decision-making, this new edition features relevant topics such as data analytics as well as the time-tested features that have proven to be of most help to students. The next generation of WileyPLUS for Accounting gives instructors the freedom and flexibility to tailor content and easily manage their course to keep students engaged and on track. Schedule a Demo Request Instructor Account Want to learn more about WileyPLUS? Click Here “What I like about WileyPLUS is that it gives instructors the best of both worlds―they can take ownership and be creative with their course, but they can do this within a structured framework where the study material is very easy to locate.” – Paul Kimmel, author of Accounting What’s Inside About the Authors Table of Contents Relevant assistance and feedback is provided at the point of learning. Feedback goes beyond right or wrong indicators and includes Problem Walkthrough Videos with author Paul Kimmel, Applied Skills Videos that review key problem-solving techniques and their application to homework problems, and new Narrative Feedback that highlights the problem-solving process. Students experience real-world problem solving. A new problem material design for all assessment and practice questions gives students a clean, blank-sheet-of-paper interface. Improved navigation right at the objective level and a more modern design provide students with a simple and more real-world experience. New mobile-friendly interactive tutorials are ideal for students on the go. We’ve redesigned our popular Interactive Tutorials in an enhanced, mobile-friendly learning environment, giving students the opportunity to study anytime, anywhere. You can assign these as pre-lecture assignments to ensure that students come to class prepared. Features Include: Data Analytics: With the emergence of data analytics transforming the accounting profession, this course includes a new data analytics module with industry-validated content that prepares students for the CPA Exam and the changing workforce. DO IT! Exercises: Found in the body of the text, these exercises prompt students to stop and review key concepts. They outline the Action Plan necessary to complete the exercise as well as show a detailed solution. Review and Practice: Each chapter concludes with a Review and Practice section, which includes a review of learning objectives, Decision Tools review, key terms glossary, practice multiple-choice questions with annotated solutions, practice brief exercises with solutions, practice exercises with solutions, and a practice problem with a solution. Real-World Decision-Making: Real-world examples that illustrate interesting situations in companies and how managers make decisions using accounting information are integrated throughout the text. Decision Tools: Accounting concepts that are useful for management decision-making are highlighted throughout the text. A summary of Decision Tools is included in each chapter as well as a practice exercise and solution, Using the Decision Tools. Accounting, 7th Edition enhancements include: Solution Walkthrough Videos for Managerial Accounting: Author Paul Kimmel has expanded the number of Solution Walkthrough Videos, now with more walkthroughs focusing on the managerial accounting part of the course. Interactive Tutorials: The popular Interactive Tutorials are responsively designed to fit nearly on all screens, giving students the opportunity to study anytime, anywhere, and they are ADA compliant. Revised Test Bank: With 30% new or revised content, the test bank makes it easier for instructors to tailor examinations according to multiple learning outcomes. Excel Function Videos Related to Data Analytics: Data Analytics is a hot topic in accounting, and these videos help students learn the competencies they need to be successful in their careers. Paul D. Kimmel, PhD, CPA, received his bachelor’s degree from the University of Minnesota and his doctorate in accounting from the University of Wisconsin. He is an Associate Professor at the University of Wisconsin-Milwaukee (UWM) and has public accounting experience with Deloitte & Touche (Minneapolis). He was the recipient of the UWM School of Business Advisory Council Teaching Award, the Reggie Taite Excellence in Teaching Award, and a three-time winner of the Outstanding Teaching Assistant Award at the University of Wisconsin. He is also a recipient of the Elijah Watts Sells Award for Honorary Distinction for his results on the CPA exam. He is a member of the American Accounting Association and the Institute of Management Accountants and has published articles in Accounting Review, Accounting Horizons, Advances in Management Accounting, Managerial Finance, Issues in Accounting Education, Journal of Accounting Education, and in other journals. His research interests include accounting for financial instruments and innovation in accounting education. He has published papers and given numerous talks on incorporating critical thinking into accounting education and helped prepare a catalog of critical thinking resources for the Federated Schools of Accountancy. Jerry J. Weygandt, PhD, CPA, is Arthur Andersen Alumni Emeritus Professor of Accounting at the University of Wisconsin-Madison. He holds a Ph.D. in accounting from the University of Illinois. Articles by 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. Weygandt is the 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. Weygandt also 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 Financial Accounting Standards Board task force that examined the reporting issues related to accounting for income taxes and served as a trustee of the Financial Accounting Foundation. 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. 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. 1. Introduction to Financial Statements 2. A Further Look at Financial Statements 3. The Accounting Information System 4. Accrual Accounting Concepts 5. Merchandising Operations and the Multiple-Step Income Statement 6. Reporting and Analyzing Inventory 7. Fraud, Internal Control, and Cash 8. Reporting and Analyzing Receivables 9. Reporting and Analyzing Long-Lived Assets 10. Reporting and Analyzing Liabilities 11. Reporting and Analyzing Stockholders’ Equity 12. Statement of Cash Flows 13. Financial Analysis: The Big Picture 14. Managerial Accounting 15. Job Order Costing 15A. Job Order Costing (non-debit and credit approach)* 16. Process Costing 16A. Process Costing (non-debit and credit approach)* 17. Activity-Based Costing 17-1 18. Cost-Volume-Profit 18-1 19. Cost-Volume-Profit Analysis: Additional Issues 20. Incremental Analysis 21. Pricing 22. Budgetary Planning 23. Budgetary Control and Responsibility Accounting 24. Standard Costs and Balanced Scorecard 25. Planning for Capital Investments APPENDIX A Specimen Financial Statements: Apple Inc. APPENDIX B Specimen Financial Statements: Columbia Sportswear Company APPENDIX C Specimen Financial Statements: VF Corporation APPENDIX D Specimen Financial Statements: Amazon.com, Inc. APPENDIX E Specimen Financial Statements: Wal-Mart Stores, Inc. APPENDIX F Specimen Financial Statements: Louis Vuitton APPENDIX G Time Value of Money APPENDIX H Reporting and Analyzing Investments APPENDIX I Payroll Accounting APPENDIX J Subsidiary Ledgers and Special Journals APPENDIX K Accounting for Partnerships APPENDIX L Accounting for Sole Proprietorships Wiley Team for Success. Dedicated to Student Achievement. The Team for Success authors are dedicated to ensuring that all of their Accounting titles are accessible to students, current, accurate, and have a consistent voice and pedagogy from introductory accounting to the intermediate level. Millions of students worldwide have learned from their exceptional resources—and now students are getting real results using ORION Adaptive Practice available in WileyPLUS for Accounting.