Skip to main content

Humanities, Social Science and Language


Digital Products


Connect®
Course managementreporting, and student learning tools backed by great support.

McGraw Hill GO
Greenlight learning with the new eBook+

ALEKS®
Personalize learning and assessment

ALEKS® Placement, Preparation, and Learning
Achieve accurate math placement

SIMnet
Ignite mastery of MS Office and IT skills

McGraw Hill eBook & ReadAnywhere App
Get learning that fits anytime, anywhere

Sharpen: Study App
A reliable study app for students

Virtual Labs
Flexible, realistic science simulations

Services


Inclusive Access
Reduce costs and increase success

LMS Integration
Log in and sync up

Math Placement
Achieve accurate math placement

Content Collections powered by Create®
Curate and deliver your ideal content

Custom Courseware Solutions
Teach your course your way

Professional Services
Collaborate to optimize outcomes

Remote Proctoring
Validate online exams even offsite

Institutional Solutions
Increase engagement, lower costs, and improve access for your students

Support


General Help & Support Info
Customer Service & Tech Support contact information

Online Technical Support Center
FAQs, articles, chat, email or phone support

Support At Every Step
Instructor tools, training and resources for ALEKS, Connect & SIMnet

Instructor Sample Requests
Get step by step instructions for requesting an evaluation, exam, or desk copy

Platform System Check
System status in real time

Fundamental Financial Accounting Concepts: 2024 Release
Fundamental Financial Accounting Concepts: 2024 Release

Fundamental Financial Accounting Concepts: 2024 Release

ISBN10: 1266787496 | ISBN13: 9781266787492
By Thomas Edmonds, Christopher Edmonds, Philip Olds, Mark Edmonds and Jennifer Edmonds

Format Options:

* The estimated amount of time this product will be on the market is based on a number of factors, including faculty input to instructional design and the prior revision cycle and updates to academic research-which typically results in a revision cycle ranging from every two to four years for this product. Pricing subject to change at any time.

Instructor Information

Quick Actions (Only for Validated Instructor Accounts):

Students are often overwhelmed by the amount of information presented in the introductory financial accounting course, while instructors want their students to grasp the big picture of the role financial accounting plays in business. Fundamentals of Financial Accounting Concepts takes a unique approach to building accounting skills, focusing students on the impact business transactions have on financial statements while maintaining a more traditional use of debits and credits. With this method, the authors drive student curiosity and inspire them to ask the “why” questions that get at the heart of how accounting works.  

Through use of the financial statements model and horizontal transaction analysis, students quickly see how any given business event affects the financial statements. With straightforward writing, popular lecture videos, and a unique approach, Fundamentals of Financial Accounting Concepts equips students with the critical thinking skills needed by future business decision-makers and leaders.   

  1 An Introduction to Accounting 
  2 Accounting for Accruals 
  3 Accounting for Deferrals 
  4 Accounting for Merchandising Businesses 
  5 Accounting for Inventories 
  6 Internal Control and Accounting for Cash 
  7 Accounting for Receivables 
  8 Accounting for Long-Term Operational Assets 
  9 Accounting for Current Liabilities and Payroll 
 10 Accounting for Long-Term Debt 
 11 Proprietorships, Partnerships, and Corporations 
 12 Statement of Cash Flows 
 13 The Double-Entry Accounting System 
 14 Financial Statement Analysis (Available online in Connect) 

 Appendix A: Accessing the EDGAR Database through the Internet 
 Appendix B: Portion of the Form 10-K for Target Corporation 
 Appendix C: Summary of Financial Ratios 
 Appendix D: General Ledger Capstone Project 
 Appendix E: Capstone Financial Statement Analysis and Annual Report Projects 
 Appendix F: Accounting for Investment Securities 
 Appendix G: Time Value of Money 
 Appendix H: Big Data and Data Visualizations Overview 
 Appendix I: Chart of Accounts 

About the Author

Thomas Edmonds

Thomas P. Edmonds, Ph.D., is Professor Emeritus in the Department of Accounting at the University of Alabama at Birmingham (UAB). He has been actively involved in teaching accounting principles throughout his academic career. Dr. Edmonds has coordinated the accounting principles courses at the University of Houston and UAB. He has taught introductory accounting in mass sections and in distance learning programs. He has received five prestigious teaching awards, including the Alabama Society of CPAs Outstanding Educator Award, the UAB President’s Excellence in Teaching Award, and the distinguished Ellen Gregg Ingalls Award for excellence in classroom teaching. He has written numerous articles that have appeared in many publications, including Issues in Accounting, the Journal of Accounting Education, Advances in Accounting Education, Accounting Education: A Journal of Theory, Practice and Research, the Accounting Review, Advances in Accounting, the Journal of Accountancy, Management Accounting, the Journal of Commercial Bank Lending, the Banker’s Magazine, and the Journal of Accounting, Auditing, and Finance. Dr. Edmonds has served as a member of the editorial board for Advances in Accounting: Teaching and Curriculum Innovations and Issues in Accounting Education. He has published five textbooks, five practice problems (including two computerized problems), and a variety of supplemental materials including study guides, work papers, and solutions manuals. Dr. Edmonds’s writing is influenced by a wide range of business experience. He is a successful entrepreneur. He has worked as a management accountant for Refrigerated Transport, a trucking company. Dr. Edmonds also worked in the not-for-profit sector as a commercial lending officer for the Federal Home Loan Bank. In addition, he has acted as a consultant to major corporations, including First City Bank of Houston (now Citi Bank), AmSouth Bank in Birmingham (now Regions Bank), Texaco, and Cortland Chemicals. Dr. Edmonds began his academic training at Young Harris Community College in Young Harris, Georgia. He received a B.B.A. degree with a major in finance from Georgia State University in Atlanta, Georgia. He obtained an M.B.A. degree with a concentration in finance from St. Mary’s University in San Antonio, Texas. His Ph.D. degree with a major in accounting was awarded by Georgia State University. Dr. Edmonds’s work experience and academic training have enabled him to bring a unique user perspective to this textbook.

Christopher Edmonds

Christopher T. Edmonds, PhD, is a professor in the Department of Accounting and Finance at the UAB Collat School of Business. He also is the course coordinator for the face-to-face and online principles of accounting courses. Dr. Edmonds specializes in teaching and developing engaging face-to-face and online introductory accounting courses. He is a frequent speaker at conferences and universities on best teaching practices and has delivered over 40 professional teaching workshops. His passion for helping students learn inspired him to create hundreds of short videos teaching the fundamental concepts of accounting. This work led to the publication of the first interactive video textbook for introductory accounting.

Dr. Edmonds has received seven prestigious teaching awards including the UAB President’s Outstanding Teaching Award, UAB Faculty Student Success Award, UAB Transformative Online Course Award, UAB Loudell Ellis Robinson Classroom Teaching Award, UAB Disability Support Recognition Award, and the Virginia Tech Favorite Faculty Award. He has published four textbooks and has written numerous articles that have appeared in publications including The Accounting Review, Auditing: A Journal of Theory and Practice, Journal of Accounting and Public Policy, Issues in Accounting Education, Advances in Accounting Education, Advances in Accounting, and Review of Quantitative Finance and Accounting. He currently serves on several editorial boards. Dr. Edmonds started his career as a web application developer creating software solutions to put newspapers online.

He began his academic training at Colorado State University. He obtained an MBA from UAB. His PhD with a major in accounting was awarded by Virginia Polytechnic Institute and State University.


Philip Olds

Professor Olds is associate professor of accounting at Virginia Commonwealth University (VCU). He serves as the coordinator of the introduction to accounting courses at VCU. Professor Olds received his AS degree from Brunswick Junior College in Brunswick, Georgia (now Costal Georgia College). He received a BBA in accounting from Georgia Southern College (now Georgia Southern University), and his MPA and PhD degrees are from Georgia State University. After graduating from Georgia Southern, he worked as an auditor with the U.S. Department of Labor in Atlanta, Georgia. A former CPA in Virginia, Professor Olds has published articles in various professional journals and presented papers at national and regional conferences. He also served as the faculty adviser to the VCU chapter of Beta Alpha Psi for five years.

In 1989, he was recognized with an Outstanding Faculty Vice-President Award by the national Beta Alpha Psi organization. Professor Olds has received both the Distinguished Teaching Award and the Distinguished Service Award from the VCU School of Business. Most recently, he received the university’s award for maintaining High Ethical and Academic Standards While Advocating for Student-Athletes and Their Quest Towards a Degree.

Mark Edmonds

Mark A. Edmonds, Ph.D., CPA, is an assistant professor in the Department of Accounting and Finance at the University of Alabama at Birmingham (UAB). He has taught principles and advanced accounting classes in face-to-face, flipped, and online formats.

Dr. Edmonds is currently spearheading the effort within the Collât School of Business to integrate data analytics into the accounting curriculum. He has developed business analytics teaching tools at both the graduate and undergraduate level. Several contributions have been made to this text revolving around the data analytics concepts Dr. Edmonds incorporates into his classes. He is the recipient of the Loudell Ellis Robinson excellence in teaching award.

Dr. Edmonds began his career providing assurance services for the internationally recognized accounting firm Ernst & Young. He utilizes this professional experience to bring a practical approach to the concepts covered in this text. At the conclusion of his professional service, he obtained his PhD from Southern Illinois University Carbondale. He serves as the education adviser on the board of the Institute of Internal Auditors Birmingham Chapter. Dr. Edmonds’ research focuses on alternative learning strategies in accounting. He frequently publishes in prominent journals such as Issues in Accounting Education and Journal of Accounting Education.


Jennifer Edmonds

Jennifer Echols Edmonds, Ph.D., is an associate professor at the University of Alabama at Birmingham (UAB) Collat School of Business. Her primary teaching areas are financial and managerial accounting. She has experience teaching in the Undergraduate, MAC, and MBA programs.

Dr. Edmonds is passionate about increasing engagement and creating a community for all students. She has spoken at numerous conferences such as the AAA Annual Meeting, AAA Conference on Teaching and Learning in Accounting, AAA Teaching, Learning & Curriculum section, Teachers of Accounting at Two-Year Colleges, and Annual Accounting Educators’ Symposium. She has received the UAB Loudell Ellis Robinson Classroom Teaching Award, as well as teaching grants from Deloitte, UAB, and Virginia Tech. She created teaching resources for incorporating International Financial Reporting Standards into Intermediate Accounting. The teaching resources were published online at the American Accounting Association.

Also active in the research community, Dr. Edmonds serves on the editorial board for Advances in Accounting and Journal of International Accounting, Auditing, and Taxation. She has published articles in prominent journals such as Journal of Accounting and Public Policy, Advances in Accounting, Research in Accounting Regulation, and The CPA Journal.

Dr. Edmonds received a bachelor’s degree in accounting from Birmingham-Southern College and completed her master’s and PhD degrees in accounting at Virginia Polytechnic Institute and State University.

Need support?   We're here to help - Get real-world support and resources every step of the way.