McGraw-Hill Education Fundamental Financial Accounting

Students are often overwhelmed by the amount of information presented in the introductory financial accounting course. By focusing on fundamental concepts in a logical sequence, students are able to fully comprehend the material rather than memorize seemingly unrelated terms and topics. The goal of "Fundamental Financial Accounting Concepts" is to enable students to understand how any given business event affects the financial statements. The "Financial Statements Model" is a highly praised feature because it allows students to visualize the simultaneous impact of business events on all of the key financial statements (the income statement, the balance sheet, and the statement of cash flows). The mechanics of accounting coverage (debits and credits) is delayed until chapter 4, providing faculty the flexibility as to the amount of emphasis they want to place on this topic. Synopsis Students are often overwhelmed by the amount of information presented in the introductory financial accounting course. By focusing on fundamental concepts in a logical sequence, students are able to fully comprehend the material rather than memorize seemingly unrelated terms and topics. The goal of "Fundamental Financial Accounting Concepts" is to enable students to understand how any given business event affects the financial statements. The "Financial Statements Model" is a highly praised feature because it allows students to visualize the simultaneous impact of business events on all of the key financial statements (the income statement, the balance sheet, and the statement of cash flows). The mechanics of accounting coverage (debits and credits) is delayed until chapter 4, providing faculty the flexibility as to the amount of emphasis they want to place on this topic. About the Author Thomas P. Edmonds, Ph.D.: Dr. Edmonds is Professor of Accountancy at the University of Alabama at Birmingham, (UAB). He has been actively involved in teaching accounting principles throughout his academic career. He has received several prestigious teaching awards, including the UAB President's Excellence in Teaching Award and the distinguished Ellen Gregg Ingalls Award for excellence in classroom teaching. His academic experience includes being published in the Journal of Accounting Education, the Accounting Review, and the Journal of Accounting, Auditing and Finance among others. Dr. Edmonds received his Ph.D. in Accounting from Georgia State University.y. Frances M. McNair, Ph.D., CPA: Dr. McNair holds the KPMG Peat Marwick Professorship of Accounting at Mississippi State University, (MSU) and received her Ph.D. in Accounting from the University of Mississippi. Her research has been published in the Journal of Accountancy, Management Accounting, and the Business and Professional Ethics Journal. Edward E. Milam, Ph.D., CPA: Dr. Milam is Professor of Accounting at Mississippi State University (MSU). His accolades include being named Mississippi's Educator of the Year by the Mississippi Society of CPA's, and being selected as Outstanding Teacher in the School of Accountancy at the University of Mississippi. Dr. Milam has served as President of the Federation of Schools of Accountancy, on the Standards committee of the AACSB (Business and Accounting Accrediting Association), Treasurer/ Secretary of the American Taxation Association, Chair of the Awards Committee of the ATA, Chair of the Membership Committee of the FSA, and on the Board of Directors of the Mississippi Tax Institute. Dr. Milam received his Ph.D. from Louisianna State University. Philip R. Olds, Ph.D., CPA: Dr. Olds is Professor of Accounting at Virginia Commonwealth University, and received his Ph.D. from Georgia State University.