Financial and Managerial Accounting, 2nd Edition provides students with a clear introduction to fundamental accounting concepts. The Second Edition helps students get the most out of their accounting course by making practice simple. Newly streamlined learning objectives help students use their study time efficiently by creating a clear connections between the reading and video content, and the practice, homework, and assessments questions.

Weygandt, Financial and Managerial Accounting is ideal for a two-semester Financial and Managerial Accounting sequence where students spend equal time learning financial and managerial accounting concepts, and learn the accounting cycle from a corporate perspective. This program begins by introducing students to the building blocks of the accounting cycle and builds to financial statements. WileyPLUS sold separately from the text.

Jerry J. Weygandt, PhD, CPA, is Arthur Andersen Alumni Professor of Accounting at the University of Wisconsin-Madison. He holds a Ph.D. in accounting from the University of Illinois. Articles by Professor Weygandt have appeared in the Accounting Review, Journal of Accounting Research, Accounting Horizons, Journal of Accountancy, and other academic and professional journals. These articles have examined such financial reporting issues as accounting for price-level adjustments, pensions, convertible securities, stock option contracts, and interim reports. Professor Weygandt is author of other accounting and financial reporting books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Wisconsin Society of Certified Public Accountants. He has served on numerous committees of the American Accounting Association and as a member of the editorial board of the Accounting Review; he also has served as President and Secretary-Treasurer of the American Accounting Association. He is the recipient of the Wisconsin Institute of CPAs Outstanding Educator's Award and the Lifetime Achievement Award. In 2001 he received the American Accounting Association's Outstanding Accounting Educator Award.

Paul D. Kimmel, PhD, CPA, received his bachelor's degree from the University of Minnesota and his doctorate in accounting from the University of Wisconsin. He is an Associate Professor at the University of Wisconsin -Milwaukee, and has public accounting experience with Deloitte & Touche (Minneapolis). He was the recipient of the UWM School of Business Advisory Council Teaching Award and the Reggie Taite Excellence in Teaching Award, and is a three-time winner of the Outstanding Teaching Assisting Award at the University of Wisconsin. He is also a recipient of the Elijah Watts Sells Award for Honorary Distinction for his results on the CPA exam. He is a member of the American Accounting Association and has published articles in Accounting Review, Accounting Horizons, Advances in Management Accounting, Managerial Finance, Issues in Accounting Education, Journal of Accounting Education, as well as other journals. His research interests include accounting for financial instruments and innovation in accounting education. He has published papers and given numerous talks on incorporating critical thinking into accounting education, and helped prepare a catalog of critical thinking resources for the Federated Schools of Accountancy.

Donald E. Kieso, PhD, CPA, received his bachelor's degree from Aurora University and his doctorate in accounting from the University of Illinois. He is currently the KPMG Peat Marwick Emeritus Professor of Accounting at Northern Illinois University. He has public accounting experience with Price Waterhouse & Co. (San Francisco and Chicago) and Arthur Andersen & Co. (Chicago) and research experience with the Research Division of the American Institute of Certified Public Accountants (New York). He has done postdoctorate work as a Visiting Scholar at the University of California at Berkeley and is a recipient of NIU's Teaching Excellence Award and four Golden Apple Teaching Awards. Professor Kieso is the author of other accounting and business books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Illinois CPA Society. He is currently serving on the Board of Trustees and Executive Committee of Aurora University, as a member of the Board of Directors of Castle BancGroup Inc., and as Treasurer and  Director of Valley West Community Hospital.

1 Accounting in Action 2

2 The Recording Process 48

3 Adjusting the Accounts 94

4 Completing the Accounting Cycle 150

5 Accounting for Merchadising Operations 204

6 Inventories 258

7 Fraud, Internal Control, and Cash 306

8 Accounting for Receivables 356

9 Plant Assets, Natural Resources, and Intangible Assets 396

10 Liabilities 444

11 Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings 498

12 Investments 558

13 Statement of Cash Flows 598

14 Financial Statement Analysis 658

15 Managerial Accounting 710

16 Job Order Costing 752

17 Process Costing 794

18 Activity-Based Costing 838

19 Cost-Volume-Profit 884

20 Cost-Volume-Profit Analysis: Additional Issues 922

21 Incremental Analysis 972

22 Pricing 1012

23 Budgetary Planning 1056

24 Budgetary Control and Responsibility Accounting 1106

25 Standard Costs and Balanced Scorecard 1158

26 Planning for Capital Investments 1204

A Specimen Financial Statements: Apple Inc.

B Specimen Financial Statements: PepsiCo, Inc.

C Specimen Financial Statements: The Coca-Cola Company

D Specimen Financial Statements: Amazon.com, Inc.

E Specimen Financial Statements: Wal-Mart Stores, Inc.

F Specimen Financial Statements: Louis Vuitton

G Time Value of Money

H Payroll Accounting

I Subsidiary Ledgers and Special Journals

J Other Significant Liabilities

K Standards of Ethical Conduct for Management Accountants

Cases for Managerial Decision-Making