Financial Accounting, 9th Edition

Content Changes by Chapter

Chapter 1: Accounting in Action

• New Feature Story, on Clif Bar and its open-book management program.

Chapter 2: The Recording Process

• Heavily revised Feature Story, now on MF Global's failure to segregate company accounts from customer accounts.
• Added cash flow effects in transaction illustrations, to raise student awareness of how business activities also affect a company's cash.
• New Ethics Insight, on Credit Suisse Group's failure to properly write down the value of its securities.
• New BYP problems: Real-World Focus based on New York Times article discussing Green Bay Packers' annual report publication, Ethics Case on résumé fabrications, and Considering People, Planet, and Profit on the role of auditor certifications in the coffee business.

Chapter 3: Adjusting the Accounts

• New Feature Story, on Groupon and the complexity of accounting for its revenues.
• Updated Appendix 3B, Concepts in Action, to reflect current conceptual framework which only includes one constraint, that of cost. Materiality now discussed as an aspect of relevance.

Chapter 5: Accounting for Merchandising Operations

• New Feature Story, on REI and its unique business model.
• Revised Ethics Insight, on improving company clarity of financial disclosures, by citing eBay's sale of Skype.
• Significantly added material to Appendix 5B, Periodic Inventory System, to ensure comprehensive coverage and explanatory material.

Chapter 6: Inventories

• Revised the Accounting Across the ...