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Introductory Financial Accounting for Business: 2024 Release
Introductory Financial Accounting for Business: 2024 Release

Introductory Financial Accounting for Business: 2024 Release

ISBN10: 1265212023 | ISBN13: 9781265212025
By Thomas Edmonds, Christopher Edmonds, Mark Edmonds and Jennifer Edmonds

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* 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.

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Learning Financial Accounting can often feel like learning a foreign language.  Before students even grasp the underlying concepts of accounting, they are immersed in unfamiliar terms, and before students fully realize the purpose of financial statements, they are asked to make detailed recording procedures. This early emphasis on terminology and recording can be a struggle for non-accounting majors to see the relevancy, leading to increased dropouts and higher failure rates. This creates a challenge for Financial Accounting instructors, who must balance the need to engage and retain non-majors while fully preparing accounting majors for the next level. 
The authors of Introductory Financial Accounting for Business offer a solution emphasizing an analytical approach to accounting – teaching students to think like business professionals and speak in terms of bottom-line consequences: How will a given transaction impact my overall business? How can I make better business decisions whether I’m an accountant, manager, or entrepreneur? 
Today's students will encounter new technological advances in automated data capture, data analytics, and artificial intelligence – processes that are automating traditional recording procedures. Rather than tallying transactions, students will be required to analyze and interpret data, making decisions early and often and thinking like business professionals. The Edmonds/Olds team’s fresh approach and modern pedagogy helps prepare students for future business careers. 

  1 An Introduction to Accounting 
  2 Accounting for Accruals and Deferrals 
  3 The Double-Entry Accounting System 
  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 Financial Statement Analysis (Available online in Connect)

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

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.

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.

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