Financial Accounting, 14th edition
Published by Pearson (June 16, 2024) © 2025
- Wendy M. Tietz Kent State University
- C William Thomas Baylor University
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For introductory financial accounting courses.
A student-centered approach to financial accounting
Financial Accounting gives readers a solid foundation in the fundamentals of accounting and financial statements. It then builds upon that groundwork by offering more challenging concepts and problems. This approach helps students to better understand and analyze financial information and see its significance within a real-world context.
The 14th Edition features new author-created videos, examples, cases and the award-winning Accounting in the Headlines blog. Together, they help students grasp the practical concepts of accounting, so that they can apply them in both their courses and career.
Hallmark features of this title
- A continuing Case throughout the text focuses on the Cheesecake Factory to inspire critical thinking and connect the content with real life.
- Try Its provide Q&A snapshots, asking students to apply what they've just learned.
- Decision Guidelines demonstrate how financial statements are used and how accounting info aids companies in decision making.
- Ethics Checks present ethical business situations and ask students to identify which of the principles from the AICPA Code of Professional Conduct has been violated.
- Ethical Issues include ethical circumstances and have students work through the decision framework for making ethical judgments.
- Review Questions map to specific learning objectives and help students review material that they may find difficult.
New and updated features of this title
- NEW: Information about accounting as a career explores the required skills, education, professional certifications, and career opportunities for professionals working in financial accounting roles (Chapters 1,12).
- NEW: Coverage of Environmental, Social, and Governance (ESG) topics examines basics concepts. It also discusses the reasons for assessing ESG factors and ways to assess ESG performance in the financial analysis of a company.
- NEW: Discussions with particular emphasis on technology and analytics in accounting help prepare students for their future careers. They show how these technologies can increase the value and understandability of accounting info.
- UPDATED: Throughout the book, an emphasis has been placed on making content flexible and modular to suit individual instructor preferences.
- UPDATED: Chapter content has been streamlined and simplified to focus on key ideas.
- UPDATED: Cases provide real-world examples from companies such as Disney, Apple, FedEx and Under Armour.
Features of MyLab Accounting for the 14th Edition
- NEW: Data Analytics Projects lets students analyze and manipulate real company data to make important decisions.
- NEW: Mini Sims put students in professional roles and give them the opportunity to apply course concepts and develop decision-making skills through real-world business challenges.
- Using proven, field-tested technology, auto-graded Excel Projects let you seamlessly integrate Microsoft® Excel® content into your course without having to manually grade spreadsheets.
- Author-created instructor videos include 4 to 10 short videos about the major concepts in each chapter, step-by-step videos for 3 to 6 of the homework exercises in each chapter, and step-by-step tutorial videos to show how new technology and analytics can be used.
- The Accounting Cycle Tutorial lets students practice each step of the accounting cycle using engaging, interactive content. It helps them master the cycle for early and continued success in their course.
- UPDATED: Accounting in the Headlines, an award-winning blog by Wendy Tietz, features real companies and events, helping you to effectively illustrate introductory financial and managerial accounting concepts.
- Financial Statements
- Transaction Analysis
- Accrual Accounting and Income
- Internal Control and Cash
- Receivables and Revenue
- Inventory and Cost of Goods Sold
- Plant Assets, Natural Resources, and Intangibles
- Current and Contingent Liabilities
- Long-Term Liabilities
- Stockholders' Equity
- The Statement of Cash Flows
- Financial Statement Analysis
APPENDICES
- Apple Inc. Annual Report 2022
- Typical Charts of Accounts for Different Types of Businesses
- Summary of US Generally Accepted Accounting Principles (GAAP)
- Summary of Differences between US GAAP and IFRS Cross Referenced to Chapter
- Investments
- Time Value of Money
About our authors
Wendy M. Tietz is a professor in the Department of Accounting in the Ambassador Crawford College of Business and Entrepreneurship at Kent State University. She teaches introductory financial and managerial accounting in a variety of formats. She also teaches advanced management accounting and advanced accounting analytics and technology in the masters program.
Dr. Tietz is a Certified Public Accountant (Ohio), a Certified Management Accountant, and a Chartered Global Management Accountant. She is a member of the American Accounting Association, the Institute of Management Accountants, and the AICPA-CIMA. She has published articles in such journals as Issues in Accounting Education, Accounting Education: An International Journal, IMA Educational Case Journal, and Journal of Accounting & Public Policy. Dr. Tietz is also the coauthor of a managerial accounting textbook, Managerial Accounting, with Dr. Karen Braun. She is a recipient of the American Accounting Association/J. Michael and Mary Anne Cook/Deloitte Foundation Prize for superior undergraduate teaching. She is a co-recipient of the a Jim Bulloch Award for Innovations in Management Accounting Education from the American Accounting Association/Institute of Management Accountants for data analytics projects for introductory accounting. She has also won the Bea Sanders/AICPA Innovation in Teaching Award in multiple years for her blog, data analytics projects, and more. She regularly presents at AAA regional and national meetings, educator conferences, and state society of CPAs. She is intensely interested in the power of educational technology to promote engagement and understanding.
Dr. Tietz earned her PhD from Kent State University. She received both her MBA and BSA from the University of Akron. Prior to teaching, she worked in industry for several years, both as a controller for a financial institution and as the operations manager and controller for a recycled plastics manufacturer.
William (Bill) Thomas is Emeritus Professor of Accounting and a Master Teacher at Baylor University. A Baylor University alumnus, he received both his BBA and MBA there and went on to earn his PhD from The University of Texas at Austin.
With primary interests in the areas of financial accounting and auditing, Dr. Thomas served as the J.E. Bush Professor of Accounting from 1995 until his retirement in 2020. He was a member of the faculty of the Accounting and Business Law Department of the Hankamer School of Business from 1971 until his retirement in 2020, and served as chair of the department for 12 years. He was recognized as an Outstanding Faculty Member of Baylor University as well as a Distinguished Professor for the Hankamer School of Business. Dr. Thomas received many awards for outstanding teaching, including the Outstanding Professor in the Executive MBA Programs as well as the designation of Master Teacher. Thomas is the author of textbooks in auditing and financial accounting, as well as many articles in auditing, financial accounting and reporting, taxation, ethics, and accounting education. His scholarly work focuses on the subject of fraud prevention and detection, as well as ethical issues among accountants in public practice. He served as the accounting and auditing editor of Today's CPA, the journal of the Texas Society of Certified Public Accountants, with a circulation of approximately 28,000. Thomas is a Certified Public Accountant in Texas. Prior to becoming a professor, Thomas was a practicing accountant with the firms of KPMG, LLP, and BDO Seidman, LLP. He is a member of the American Accounting Association, the American Institute of CPAs and Association of International Certified Professional Accountants, and the Texas Society of Certified Public Accountants.
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