For the one-semester undergraduate financial accounting course, this text takes a "user-oriented" approach.
This text was written in response to the recommendations made by the Accounting Education Change Commission (AECC). Developed around a decision making model, students are taught how to understand the financial accounting processes and how to interpret and use the resulting information. Rather than focus on the recording process, the text teaches why particular items appear in or are omitted from financial statements, how items are valued in the financial statements and the usefulness of report information in a decision-making contaxt.
Students will learn how to evaluate current reporting criteria in a decision-making context and be introduced to "what-if" analysis using specific business decisions. THrough the linking pog decisions and information, students will learn how to think and analyze rather than memorize. Recognizing the coverage of the basic recording process is necessary for transactional journal entries will be included in some chapters of the text. Broad concepts will be emphasized and those concepts will be illustrated through extensive use of business situations.
Author Biography
THOMAS E. KING, CPA, is Professor of Accounting in the
School of Business at Southern Illinois University at Edwardsville,
where he served as Chairman of the Accounting Department for seven
years. He received his B.S. degree in accounting from California
State University, Northridge, and holds an M.B.A. and Ph.D. from
the University of California, Los Angeles. Professor King has a
number of years of business and consulting experience, and he has
been teaching for more than 20 years. He previously was on the
faculty of The University of Iowa and has taught courses for the
Illinois and Iowa CPA Societies, the Iowa Department of Revenue,
the Institute of Internal Auditors, and a major international CPA
firm. Professor King has published numerous articles in journals
such as The Accounting Review, the Journal of Accounting,
Auditing, and Finance, Accounting Horizons, the
Journal of Accountancy, and Financial Executive. He
also coauthored Advanced financial Accounting, now in
its fourth edition. Professor King recently completed his second
term on the Board of Gov ernors of the St. Louis Chapter of the
Institute of Internal Auditors and is active in the financial
Executives Institute and the Institute of Management Accountants.
In addition, he serves on the editorial boards of Advances in
Accounting and Advances in Accounting Education.
Professor King has taught financial and managerial accounting
at all levels and has had a special interest in presenting
accounting information so that it can be understood and used by
non-accountants.
VALDEAN C. LEMBKE is Professor of Accounting in the
College of Business Administration at The University of Iowa. He
received his B.S. degree from Iowa State University and his MBA and
Ph.D. from the University of Michigan. He has internal audit and
public accounting experience. He has been active in the American
Accounting Association, including service as President of the
Midwest Region and book review editor for Issues in Accounting
Education. Professor Lembke has been a faculty member at The
University of Iowa for more than 25 years, where he was named the
first recipient of the Gilbert Maynard Excellence in Accounting
Instruction award. He has served two terms as department head and
is currently head of the professional program in accounting.
Professor Lembke has authored or coauthored articles in The
Accounting Review, the Journal of Accounting, Auditing, and
finance, the Journal of Accountancy, and the Internal
Auditor. He also coauthored an advanced financial accounting
textbook with Richard Bake and Thomas King. His teaching has been
in undergraduate and graduate financial accounting and governmental
and not-for-profit accounting coursework, including responsibility
for the introductory financial accounting course.
JOHN H. SMITH, CPA, is Professor of Accountancy,
Emeritus, at Northern Illinois University in Dekalb, Illinois. He
has served as Accounting Department Chairman at Northern Illinois
University and at The University of Iowa. He has held visiting
professorship at the University of Hawaii and has been a staff
member in the Office of the Chief Accountant of The Securities and
Exchange Commission. He also has experience with a major
international public accounting firm. Professor Smith holds a Ph.D.
from the University of Illinois and M.A. and B.B.A. degrees from
the University of Missouri. He has published in numerous journals
and has held offices in academic and professional accounting
organizations. He has published in numerous journals and has held
offices in academic and professional accounting organizations. He
also led the task force that organize the 150-hour education
requirement in Illinois. He has taught introductory accounting and
all levels of financial accounting, including financial accounting
for non-accountants at the S.E.C. and in numerous other programs.
He has won awards for teaching excellence at both the undergraduate
and M.B.A. levels. Teaching accounting to business managers has led
to a life-long interest in improving the instruction of accounting
and is reflected in this textbook. Professor Smith believes that
accounting should be a manager's best friend.