Thomas Edmonds - Survey of Accounting

edm62376_fm_i-xxxiv_1.indd Page i 11/11/13 3:49 PM user /202/MH02066/edm62376_disk1of1/0077862376/edm62376_pagefiles f o u r t h e d i t i o n Survey of Accounting Thomas P. Edmonds University of AlabamaBirmingham Christopher T. Edmonds University of AlabamaBirmingham Philip R. Olds Virginia Commonwealth University Frances M. McNair Mississippi State University Bor-Yi Tsay Southern Polytechnic State University edm62376_fm_i-xxxiv_1.indd Page ii 13/11/13 9:23 PM user-f-w-198 /202/MH02066/edm62376_disk1of1/0077862376/edm62376_pagefiles SURVEY OF ACCOUNTING, FOURTH EDITION Published by McGraw-Hill Education, 2 Penn Plaza, New York, NY 10121. Copyright 2015 by McGraw-Hill Education.

All rights reserved. Printed in the United States of America. Previous editions 2012, 2010, and 2007. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of McGraw-Hill Education, including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 ISBN 978-0-07-786237-4 MHID 0-07-786237-6 Senior Vice President, Products & Markets: Kurt L. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 ISBN 978-0-07-786237-4 MHID 0-07-786237-6 Senior Vice President, Products & Markets: Kurt L.

Strand Vice President, Content Production & Technology Services: Kimberly Meriwether David Director: Tim Vertovec Executive Brand Manager: Steve Schuetz Executive Director of Development: Ann Torbert Development Editor II: Katie Jones Director of Digital Content: Patricia Plumb Digital Development Editor: Julie Hankins Digital Product Analyst: Xin Lin Senior Marketing Manager: Michelle Nolte Director, Content Production: Terri Schiesl Content Project Manager: Diane L. Nowaczyk Content Project Manager: Rachel Townsend Senior Buyer: Michael R. McCormick Design: Matt Diamond Cover Image: Simon Carter/Getty Images Senior Content Licensing Specialist: Jeremy Cheshareck Typeface: 10.5/12 Times New Roman MT Std Compositor: Aptara, Inc.. Printer: R. R. Donnelley All credits appearing on page or at the end of the book are considered to be an extension of the copyright page. Library of Congress Cataloging-in-Publication Data Edmonds, Thomas P.

Survey of accounting / Thomas P. Edmonds [and four others]. Fourth edition. pages cm Includes index. Revised edition of: Survey of accounting / Thomas P. [et al.]. 3rd ed. 3rd ed.

ISBN 978-0-07-786237-4 (alk. paper) ISBN 0-07-786237-6 (alk. paper) 1. Accounting. I. Title.

HF5636.E36 2015 657dc23 2013041735 The Internet addresses listed in the text were accurate at the time of publication. The inclusion of a website does not indicate an endorsement by the authors or McGraw-Hill Education, and McGraw-Hill Education does not guarantee the accuracy of the information presented at these sites. www.mhhe.com edm62376_fm_i-xxxiv_1.indd Page iii 11/11/13 3:50 PM user /202/MH02066/edm62376_disk1of1/0077862376/edm62376_pagefiles This book is dedicated to our students, whose questions have so frequently caused us toreevaluate our method of presentation that they have, in fact, become majorcontributors to the development of this text. edm62376_fm_i-xxxiv_1.indd Page iv 11/11/13 3:50 PM user /202/MH02066/edm62376_disk1of1/0077862376/edm62376_pagefiles NOTE FROM THE AUTHORS LECTURE VIDEOS: A SEA CHANGE IN INSTRUCTIONAL METHODOLOGY We are excited to announce the availability of instructional videos that explain the content associated with every learning objective introduced throughout the text. These videos have been developed by a member of the author team andare available when assigned through McGraw-Hill Connect Accounting. They have the touch and feel of a live lecture as opposed to a canned PowerPoint presentation. The benefits are enormous. Videos allow students to pause for con templation and note-taking.

They permit students to repeat difficult concepts or fast-forward through content they have mastered. In other words, videos enable self-paced learning. No longer is the lecture too fast for some and too slow for others. Now the lecture satisfies the needs of each individual student. Many accounting educators have taught in professional exam prep courses that make extensive use of video lectures. Now you can bring that prep course learning approach into your everyday classroom.

You can use the videos we pro vide to transform the traditional classroom from a passive listening exercise into an active learning experience. Here are some examples of how you can use instruc tional videos to improve the classroom environment. Flip Courses Instructional videos enable instructors to flip the traditional teaching model. Specifically, instead of providing a lecture in class and then assigning homework, flip courses deliver the lecture at home and use the classroom as a place for students to work problems and ask questions. The teachers function moves from lecturer to coach and tutor. Without a requirement to deliver a lecture, the in structor is free to tutor students in small groups or individually.

Instruction be comes more focused and individualized. Indeed, when coupled with Connect technology, instructors can obtain real-time feedback that allows them to iden tify and approach specific students who are having difficulty without disturbing those students who are able to digest the material independently. Competency-Based Learning Courses Video instruction enables the implementation of a competency-based grading sys tem. Since learning is self-paced, grades can be assigned on the basis of how deep students go into the content as opposed to an averaging approach. For example, content could be divided into modules. Grades could be assigned based on the number of modules completed successfully.

Weaker students could repeat lower level modules, while stronger students move on to more advanced topics. When you are no longer forced to move students through your class in a lock-step fash ion, the potential for improving the learning environment is virtually limitless. There are many different competency-based models that can be applied to introductory accounting. At this point, our objective is to introduce the general possibilities for improving learning. If you are interested in developing a specific competency-based approach for your classroom, you can speak directly with a member of the author team who has used videos in a variety of settings (contact information is provided on the following page). iv Survey of Accounting edm62376_fm_i-xxxiv_1.indd Page v 11/11/13 3:50 PM user /202/MH02066/edm62376_disk1of1/0077862376/edm62376_pagefiles Mass Section Courses Many schools deliver live lectures to mass section classes. iv Survey of Accounting edm62376_fm_i-xxxiv_1.indd Page v 11/11/13 3:50 PM user /202/MH02066/edm62376_disk1of1/0077862376/edm62376_pagefiles Mass Section Courses Many schools deliver live lectures to mass section classes.