Provide future business professionals with a practical introduction to financial and managerial accounting without the use of debits and credits. With its unique focus on building students’ decision-making skills and emphasis on financial statements, Survey of Accounting, 3rd Edition meaningfully integrates data analytics and the importance of using accounting information in real-world decision-making. Adaptive practice opportunities and engaging real-world industry examples and videos strengthen student understanding of accounting concepts and illustrate how these are relevant to their everyday lives and future careers in business and accounting.

1 Introduction to Financial Statements 1-1

Knowing the Numbers: Columbia Sportswear Company 1-1

1.1 Business Organization and Accounting Information Uses 1-2

1.2 The Three Types of Business Activity 1-8

1.3 The Four Financial Statements 1-11

2 A Further Look at the Balance Sheet 2-1

Just Fooling Around?: The Motley Fool 2-2

2.1 The Classified Balance Sheet 2-2

2.2 Analyzing the Balance Sheet Using Ratios 2-8

3 The Accounting Information System 3-1

Accidents Happen: MF Global Holdings Ltd 3-1

3.1 Financial Reporting Concepts 3-2

3.2 Using the Accounting Equation to Analyze Transactions 3-8

4 Accrual Accounting Concepts 4-1

Keeping Track of Groupons: Groupon 4-1

4.1 Accrual-Basis Accounting and Adjustments 4-2

4.2 Adjustments for Deferrals 4-8

4.3 Adjustments for Accruals 4-15

4.4 Preparing Financial Statements 4-21

5 Fraud, Internal Control, and Cash 5-1

Minding the Money in Madison: Barriques 5-1

5.1 Fraud and Internal Control 5-3

5.2 Cash Controls 5-12

5.3 Control Features of a Bank Account 5-17

5.4 Reporting Cash 5-26

6 Merchandising Operations and the Multiple-Step Income Statement 6-1

Buy Now, Vote Later: REI 6-1

6.1 Merchandising Operations and Inventory Purchases 6-2

6.2 Recording Sales Under a Perpetual Inventory System 6-9

6.3 Multiple-Step Income Statement 6-13

6.4 Gross Profit Rate and Profit Margin 6-17

7 Reporting and Analyzing Inventory and Receivables 7-1

"Where Is That Spare Bulldozer Blade?": Caterpillar 7-1

7.1 Classifying and Determining Inventory 7-3

7.2 Inventory Methods and Financial Effects 7-6

7.3 Reporting Receivables 7-15

7.4 Inventory Presentation and Analysis 7-23

8 Reporting and Analyzing Long-Lived Assets 8-1

A Tale of Two Airlines: American Airlines 8-1

8.1 Plant Asset Expenditures 8-3

8.2 Depreciation Methods 8-8

8.3 Plant Asset Disposals 8-16

8.4 Intangible Assets 8-18

8.5 Statement Presentation and Analysis 8-23

9 Reporting and Analyzing Liabilities and Stockholders' Equity 9-1

And Then There Were Two: Maxwell Car Company 9-1

9.1 Accounting for Current Liabilities 9-3

9.2 Accounting for Bond Transactions 9-9

9.3 Accounting for Common, Preferred, and Treasury Stock 9-15

9.4 Accounting for Cash Dividends 9-24

9.5 Presentation and Analysis of Stockholders’ Equity 9-28

10 Financial Analysis: The Big Picture 10-1

It Pays to Be Patient: Warren Buffett 10-2

10.1 Sustainable Income and Quality of Earnings 10-3

10.2 Horizontal Analysis and Vertical Analysis 10-9

10.3 Ratio Analysis 10-15

11 Managerial Accounting 11-1

Just Add Water … and Paddle: Current Designs 11-1

11.1 Managerial Accounting Basics 11-3

11.2 Managerial Cost Concepts 11-7

11.3 Manufacturing Costs in Financial Statements 11-12

11.4 Managerial Accounting Today 11-16

12 Job Order Costing 12-1

Profiting from the Silver Screen: Disney 12-1

12.1 Cost Accounting Systems 12-3

12.2 Assigning Manufacturing Costs 12-8

12.3 Predetermined Overhead Rates 12-13

12.4 Jobs Completed and Sold 12-16

12.5 Applied Manufacturing Overhead 12-22

13 Cost-Volume-Profit 13-1

Don't Worry--Just Get Big: Amazon.com 13-1

13.1 Cost Behavior Analysis 13-3

13.2 Mixed Costs Analysis 13-8

13.3 Cost-Volume-Profit Analysis 13-11

13.4 Break-Even Analysis 13-16

13.5 Target Net Income and Margin of Safety 13-20

14 Incremental Analysis 14-1

Keeping It Clean: Method Products 14-1

14.1 Decision-Making and Incremental Analysis 14-3

14.2 Special Orders 14-6

14.3 Make or Buy 14-8

14.4 Sell or Process Further 14-11

14.5 Repair, Retain, or Replace Equipment 14-14

14.6 Eliminate Unprofitable Segment or Product 14-16

15 Budgetary Planning 15-1

What's in Your Cupcake?: Erin McKenna's Bakery NYC 15-1

15.1 Effective Budgeting and the Master Budget 15-3

15.2 Sales, Production, and Direct Materials Budgets 15-8

15.3 Direct Labor, Manufacturing Overhead, and S&A Expense Budgets 15-14

15.4 Cash Budget and Budgeted Balance Sheet 15-18

15.5 Budgeting in Nonmanufacturing Companies 15-23

16 Budgetary Control and Responsibility Accounting 16-1

Pumpkin Madeleines and a Movie: The Roxy Hotel Tribeca 16-1

16.1 Budgetary Control and Static Budget Reports 16-3

16.2 Flexible Budget Reports 16-7

16.3 Responsibility Accounting and Responsibility Centers 16-14

16.4 Investment Centers 16-24

17 Standard Costs and Balanced Scorecard 17-1

80,000 Different Caffeinated Combinations: Starbucks 17-2

17.1 Overview of Standard Costs 17-3

17.2 Direct Materials Variances 17-8

17.3 Direct Labor and Manufacturing Overhead Variances 17-13

17.4 Variance Reports and Balanced Scorecards 17-18

18 Planning for Capital Investments 18-1

Floating Hotels: Holland America Line 18-2

18.1 Capital Budgeting and Cash Payback 18-3

18.2 Net Present Value Method 18-6

18.3 Capital Budgeting Challenges and Refinements 18-12

18.4 Internal Rate of Return 18-17

18.5 Annual Rate of Return 18-20

APPENDIX A Specimen Financial Statements: Apple Inc. A-1

APPENDIX B Specimen Financial Statements: Columbia Sportswear Company B-1

APPENDIX C Specimen Financial Statements: Under Armour, Inc. C-1

APPENDIX D Double-Entry Accounting System D-1

APPENDIX E Time Value of Money E-1

COMPANY INDEX / SUBJECT INDEX I-1

Available in the Wiley Online Course and Wiley Custom:

19 Statement of Cash Flows 19-1

Got Cash?: Microsoft 19-1

19.1 Usefulness and Format of the Statement of Cash Flows 19-3

19.2 Preparing the Statement of Cash Flows--Indirect Method 19-6

19.3 Analyzing the Statement of Cash Flows 19-18

APPENDIX F Activity-Based Costing F-1

APPENDIX G Cost-Volume-Profit Analysis: Additional Issues G-1

APPENDIX H Pricing H-1

Data Analytics and Pricing H-16

Data Analytics in Action H-27