Financial Accounting

David Spiceland is Accounting Professor Emeritus at the University of Memphis. He received his BS degree in finance from the University of Tennessee, his MBA from Southern Illinois University, and his PhD in accounting from the University of Arkansas. Professor Spicelands primary research interests are in earnings management and educational research. He has published articles in a variety of journals including The Accounting Review, Accounting and Business Research, Journal of Financial Research, Advances in Quantitative Analysis of Finance and Accounting, and most accounting education journals: Issues in Accounting Education, Journal of Accounting Education, Advances in Accounting Education, The Accounting Educators Journal, Accounting Education, The Journal of Asynchronous Learning Networks, and Journal of Business Education. David has received university and college awards and recognition for his teaching, research, and technological innovations in the classroom. David is a co-author on McGraw-Hills best-selling Intermediate Accounting text, with Mark Nelson and Wayne Thomas. David enjoys playing basketball, is a former all-state linebacker, and is an avid fisherman. Cooking is a passion for David, who served as sous chef for Paula Deen at a Mid-South Fair cooking demonstration. Wayne Thomas is the W. K. Newton Chair in Accounting at the University of Oklahoma, where he teaches introductory financial accounting and intermediate accounting. He received his bachelors degree in accounting from Southwestern Oklahoma State University, and his masters and PhD in accounting from Oklahoma State University. Professor Thomas has won teaching awards at the university, college, and departmental levels, and has received the Outstanding Educator Award from the Oklahoma Society of CPAs. Wayne is also a co-author on McGraw-Hills best-selling Financial Accounting, with David Spiceland and Don Herrmann. His primary research interests are in markets-based accounting research, financial disclosures, financial statement analysis, and international accounting issues. He previously served as an editor of The Accounting Review and has published articles in a variety of journals including The Accounting Review, Journal of Accounting and Economics, Journal of Accounting Research, Review of Accounting Studies, and Contemporary Accounting Research. He has won several research awards, including the American Accounting Associations Competitive Manuscript Award. Professor Thomas enjoys various activities such as tennis, basketball, golf, and crossword puzzles, and most of all, he enjoys spending time with his wife and kids. Don Herrmann passed away on May 8, 2018, after a 14-month battle with brain cancer. He was the Deloitte Professor of Accounting at Oklahoma State University, where he had been on the faculty since 2005. Don won several teaching awards and enjoyed teaching financial accounting, intermediate accounting, and doctoral students. He received his bachelors degree in business from John Brown University, his masters degree in accounting from Kansas State University, and his PhD in accounting from Oklahoma State University. He was active in the AAA and served as president of the International Accounting Section. Don was best known for his warm and welcoming personality. He enjoyed serving in his local community and church, as well as hosting families and students in his home. His outgoing nature wasnt the type that filled a room with his presence, but it was the type that filled a one-on-one conversation with purpose. Above all else, family was first to Don. Some of his favorite family activities included camping, going to amusement parks, and coaching little league sports. He is survived by his wonderful wife Mary and four amazing children Rachel, David, Nathan, and Micah. As he battled through the different stages of cancer, he often reflected on his family. He was so proud of them and talked about them with a humble thankfulness. Those who knew Don were fortunate to share their lives with him. He lived with a sense of purpose and a solid foundation. That foundation continues through his family and the people hes touched. He will be missed by many.

Spiceland, Financial Accounting, 4th Edition

1 A Framework for Financial Accounting

2 The Accounting Cycle: During the Period

3 The Accounting Cycle: End of the Period

4 Cash and Internal Controls

5 Receivables and Sales

6 Inventory and Cost of Goods Sold

7 Long-Term Assets

8 Current Liabilities

9 Long-Term Liabilities

10 Stockholders’ Equity

11 Statement of Cash Flows

12 Financial Statement Analysis


Appendix A: American Eagle Outfitters,Inc., 2014 Annual Report A–1

Appendix B: The Buckle, Inc., 2014Annual Report B–1

Appendix C: Time Value of Money C–1

Appendix D: Investments D–1

Appendix E: International Financial Reporting Standards E–1

Index I–1

Future Value and Present Value Tables P–1

Summary of Ratios Used in This BookS-1

Framework for Financial Accounting S-2

Representative Chart of Accounts S-3
Representative Chart of Accounts