Patricia Libby

Fundamentals of Financial Accounting introduces students to financial accounting using a balanced mix of conversational wording, clear and concise presentations, and everyday examples, allowing students to grasp concepts fundamental to financial accounting without sacrificing rigor or coverage. It incorporates carefully chosen focus companies that students recognize and engage within their everyday lives. From tech start-ups to some of the world's most familiar trademark brands, each chapter opens with an engaging scenario or story using a familiar company. The same focus company is used throughout the entire chapter so that students can see how the concepts and calculations apply to a real-world company they are already familiar with.Fundamentals of Financial Accounting uses peer-reviewed research and careful analysis of data to inform pedagogy and presentation of concepts. For example, the authors research on various approaches to teaching the accounting cycle informed the step-by-step model used in the text -- a model proven to lead to better results in short-term assessment as well as in long-term understanding and application of the material. By breaking the accounting cycle down into more cohesive, bite-sized segments, students develop a stronger foundational understanding.

Fundamentals of Financial Accounting uses a balanced mix of conversational wording and clear and concise presentations, allowing students to grasp concepts fundamental to financial accounting without sacrificing rigor or coverage. The authors incorporate focus companies, carefully chosen to foster student recognition and engagement, and use peer-reviewed research to inform pedagogy and presentation of concepts. This research informs the step-by-step accounting cycle model used in the text. By breaking the accounting cycle down into more cohesive, bite-sized segments, students develop a stronger foundational understanding that leads to better results in short-term assessment as well as in long-term understanding and application of the material. New co-author Shana Clor-Proell is an associate professor at Texas Christian University. Shana has 14 years of teaching experience. She received her PhD from Cornell University. She is a CPA and previously worked as an auditor for Arthur Andersen.

Fundamentals of Financial Accounting combines an engaging writing style, entrepreneurial focus, and data-driven pedagogy in a balanced approach to Financial Accounting. Its extended coverage of the Accounting Cycle is proven to yield better short- and long-term results for students by building steadily their confidence and understanding instead of hastily rushing through challenging concepts. To better help students grasp both the practical and conceptual side of Accounting, Phillips has created the most extensive database of high-quality video assets available in the market. Located within the Connect platform, these include:Concept Overview Videos – Focusing on core concepts tied to individual learning objectives, this animated and narrated content includes checkpoint questions that allow instructors to grade for accuracy, not just completion. Spotlight Videos – Newsmagazine-style videos providing an overview of business decisions, ethics, and internal control issues that highlight real-world situations.Flash Topic Videos – An introduction to hot topics in the accounting industry to expose students to important trends that will impact their careers. In Action Videos – Tutorials that illustrate thought processes applicable to topics like analyzing transactions, adjusting accounts, and more. Guided Examples – Instructor-enabled hint videos that are built into certain end-of-chapter content to help students work through exercises by seeing similar problems. Each chapter features real companies whose products and services are relevant to students, while the Accounting Cycle chapters follow the same start-up company to better illustrate how entrepreneurs employ financial data throughout their company’s growth. Between the conversational tone, clear and concise presentations, and everyday examples, Fundamentals of Financial Accounting improves the student experience while maintaining the needed rigor to deliver successful results.

Libby/Libby/Hodge wrote this text based on their belief that the subject of financial accounting is inherently interesting, but financial accounting textbooks are often not. They believe most financial accounting textbooks fail to demonstrate that accounting is an exciting field of study and one that is important to future careers in business. When writing this text, they considered career relevance as their guide when selecting material, and the need to engage the student as their guide to style, pedagogy, and design.Libby/Libby/Hodge successfully implements a real-world, single focus company approach in every chapter. Students and instructors have responded very favorably to the use of focus companies and the real-world financial statements. The companies chosen are engaging and the decision-making focus shows the relevance of financial accounting regardless of whether or not the student has chosen to major in accounting. Libby/Libby/Hodge believes in the building-block approach to teaching transaction analysis. Most faculty agree that mastery of the accounting cycle is critical to success in financial accounting. And yet all other financial books introduce and develop transaction analysis in one chapter, bombarding a student early in the course with an overload of new concepts and terms. The authors believe that most faculty take more time with the accounting cycle, but other financial accounting textbooks don't. By slowing down the introduction of transactions and giving students time to practice and gain mastery, this building-block approach leads to greater student success in their study of later topics in financial accounting such as adjusting entries.

Fundamentals of Financial Accounting, presents an engaging, balanced, and appropriately paced analysis of the fundamentals of financial accounting. Its writing style makes it easy to read and understand, while the selection of real focus companies reinforces the relevance of accounting by introducing students to accounting and business activities in the context of their favorite companies. Balance between preparer and user orientations is achieved throughout the book, by studying both the accounting activities that take place inside the company, as well as evaluating their impact on decisions, and users outside the company. Topic coverage is paced appropriately for students new to accounting, and is thoroughly reinforced every step of the way with an ample variety of innovative pedagogical tools. Clearly understandable, relevant, and accessible, FFA is simply the most student-friendly financial book on the market and provides the tools for students to grasp financial accounting from the ground up.