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Financial Accounting, 7th Edition

Jay S. Rich, Jeff Jones

  • Copyright 2028
  • {{checkPublicationMessage('Available 15 March 2027', '2027-03-15T00:00:00+0000')}}
Starting At $244.95 See pricing and ISBN options
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Financial Accounting 7th Edition by Jay S. Rich/Jeff Jones
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Overview

Help students focus on why accounting matters and understand the relationship between accounting, financial statements, and business decisions using Rich and Jones' "Financial Accounting," 7th Edition.

The text guides readers through the basics quickly and independently, allowing you to focus class time on the use of accounting information in real-world companies. With fundamental concepts embedded in the reading, students learn how to interpret a company's annual report. Practical application leads to a more engaging class and prepares students for long-term professional success. Cengage's learning platform, CNOWv2, provides key practice opportunities with auto-graded assignments, algorithmic Annual Report Problems, Excel Online activities, Tableau dashboard activities, and a comprehensive video library prepared and recorded by the authors to help students when they need it.

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Meet the Authors

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Jay S. Rich

Jay Rich is a professor emeritus of accounting at Illinois State University. He received his B.S., M.S., and Ph.D. from the University of Illinois. Prior to entering the Ph.D. program, he worked as an auditor at Price Waterhouse & Co. in Chicago and earned his CPA in 1985. Dr. Rich has published articles in numerous journals, including The Accounting Review, Auditing: A Journal of Practice & Theory, Accounting Horizons, Contemporary Accounting Research, Organizational Behavior and Human Decision Processes, and Accounting, Organizations and Society. He has also served on the editorial board of Auditing: A Journal of Practice & Theory and Current Issues in Auditing. Dr. Rich has received both the Outstanding Dissertation Award and Notable Contribution to the Literature Award from the Audit Section of the American Accounting Association. He was also recognized with the Outstanding Educator Award from the Illinois CPA Society. His primary teaching interest is financial accounting and he has taught numerous courses at the undergraduate, master, and doctoral levels. Dr. Rich has a wife of 35 years, Jane, and three children, Dennis, Anne, and Grace. His outside interests include his family, travel, and reading. He also repeatedly develops plans to exercise and diet at some point in the future. By all accounts, he is a master at grilling meat, a mediocre skier, and a shameful golfer.

Jeff Jones

Jeff Jones is an associate professor of accounting in the School of Accountancy at Auburn University, where he teaches financial accounting and applied financial research courses. He received his B.S. and Master of Accountancy degrees from Auburn University and his Ph.D. from Florida State University. Dr. Jones has received numerous teaching awards, including the Auburn University Final Lecture Award, Beta Alpha Psi Outstanding Teaching Award (14 times), the Outstanding Master of Accountancy Professor Teaching Award (five times), the Outstanding Distance Master of Accountancy Teaching Award (three times), the College of Business McCartney Teaching Award, the Lowder Teaching Award, and the Auburn. In addition, he has made numerous presentations around the country on research and pedagogical issues. Dr. Jones has public accounting experience as an auditor with Deloitte and Touche and holds a CPA. certificate in the state of Alabama (inactive). He is a member of the American Accounting Association, the American Institute of Certified Public Accountants (AICPA) and the Alabama Society of CPAs (ASCPA). His research interests focus on financial accounting, specifically investigating the quality of reported accounting information and accounting education. He has published articles in numerous journals, including Advances in Accounting, Review of Quantitative Finance and Accounting, Issues in Accounting Education, International Journal of Forecasting, and The CPA Journal. When not at work, Dr. Jones enjoys playing golf and spending time at the beach.

What's New

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  • Artificial intelligence features show how AI is transforming accounting with real-world applications, while highlighting the continued importance of professional judgment.
  • A new financial analysis framework organizes key ratios into five dimensions, helping students connect individual ratios to a broader evaluation of financial health.
  • Financial statement questions added to brief exercises reinforce how transactions impact financial statements without requiring debits and credits.

Features

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  • Annual report problems use company Form 10-Ks to give students experience analyzing real-world reports, with accessible solutions and a library of companies in CNOWv2.
  • Chapter-opening vignettes use real companies and financial statements to show how accounting information supports business decisions and brings key concepts to life.
  • Real-world financial statements introduce students to Form 10-Ks early, helping them connect accounting concepts, financial statement analysis, and business decisions.
  • Author-written end-of-chapter materials and a thorough verification process using dedicated subject matter experts ensure content accuracy for you and your students.

Table of Contents

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1. Accounting and the Financial Statements.
1s. Reading a Company’s Annual Report and Form 10-K.
2. The Accounting Information System.
3. Accrual Accounting.
Making the Connection, Integrative Exercise: The Accounting Cycle.
4. Internal Control and Cash.
5. Sales and Receivables.
6. Cost of Goods Sold and Inventory.
7. Operating Assets.
Making the Connection, Integrative Exercise: Integrated Asset Accounting.
8. Current and Contingent Liabilities.
9. Long-Term Liabilities.
10. Stockholders' Equity.
Making the Connection, Integrative Exercise: Integrating Accounting for Liabilities and Equity.
11. The Statement of Cash Flows.
12. Financial Statements Analysis.
Appendix 1: Investments.
Appendix 2: Time Value of Money.
Appendix 3: International Financial Reporting Standards.
Appendix 4: Financial Statement Information: The Kroger Co.
Appendix 5: Financial Statement Information: Sprouts Farmers Market.
Glossary.
Check Figures.
Index.

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  • ISBN-10: 8214517990
  • ISBN-13: 9798214517995
  • RETAIL $244.95
Instructor Next Steps
Students: Buy now