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Financial Accounting, Canadian Edition, 1st edition

Published by Pearson Canada (May 31, 2022) © 2023

  • Robert Kemp University of Virginia
  • Jeffrey Waybright Spokane Community College
  • Liang-Hsuan Chen University of Toronto Scarborough
  • Sandra Daga

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C$67.99

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For courses in introductory financial accounting.

Understanding financial accounting as the language of business

Once students see that accounting is the language of business, they are well on their way to academic and professional success. Financial Accounting translates the essentials of accounting to students so they understand why and when financially sound decisions are made in business today. 

The new Canadian adaptation has a very clear goal: provide as much coverage of financial statement preparation and essential concepts as a non-accounting student needs to know in a way that helps these students relate to the content and learn. This product aims to tackle challenging topics in a pragmatic, straightforward manner so that students understand concepts in accounting and its critical role in the business world. Its focus on smaller businesses allows students to better navigate the numbers with more practical examples of what they may encounter in the real world.

Hallmark features of this title

  • CPA Competencies is an important feature that maps each chapter's learning objectives to CPA competencies. Students will be able to check these competencies as they progress through each chapter. 
  • Live Examples Approach. The authors introduce unique live examples to illustrate the connection between the accounting equation and journalizing transactions. In Chapters 2 and 3 of the Pearson eText, students can journalize transactions, create T-Accounts, and test their understanding of the relationship between journal entries and the accounting equation. Eighteen live examples allow students to practice over and over again until they comprehend these critical accounting concepts.
  • The Perfect Balance of Small Business Perspective and Corporate Coverage. Not every student will graduate and become part of a large corporation, which is why it's important for students to understand how financial accounting applies in small business scenarios as well as corporate ones.

Important Digital Assets in MyLab Accounting

Digital Update 2024– New Mini Sims

  • Students act as business professionals as they apply course concepts to realistic business challenges they’re likely to experience in their future careers.
  • Mini Sim concepts center around key course topics such as product costing, cost behavior, cost-volume-profit analysis and budgeting. Tied to the text’s chapter learning objectives, they help students seamlessly transition from their text to the simulation - without breaking stride. Reflection Questions STATIC, Summary, References.

Digital Assets

  • Dynamic Study Modules. Chapter-specific Dynamic Study Modules help students study effectively on their own by continuously assessing their activity and performance in real time. Here's how it works: Students complete a set of questions with a unique answer format that also asks them to indicate their confidence level. Questions repeat until the student can answer them all correctly and confidently. Dynamic Study Modules explain the concept using materials from the text. These are available as graded assignments and are accessible on smartphones, tablets, and computers.
  • Data Analytics Project Questions offer students hands-on practice in mining, analyzing, and reporting on data. Each project contains a list of requirements, a dataset from a real company, a tutorial video, and instructions for software such as Excel, Power Bi, or Tableau. Using these tools, students learn how to extract and examine key information about a company related to its products, operations, and consumer buying habits.
  • Accounting Cycle Tutorial lets students practise each step of the accounting cycle using engaging, interactive content, helping them master the cycle for early and continued success in their course. MyLab Accounting's interactive tutorial helps students master the accounting cycle for early and continued success in the Introduction to Accounting course. The tutorial - accessed by computer, smartphone, or tablet - provides students with brief explanations of each concept of the accounting cycle through engaging videos and animations. Students are immediately assessed on their understanding, and their performance is recorded in the MyLab Accounting grade book. 
  • The Time Value of Money Tutorial in MyLab Accounting ensures that students understand the basic theory and formulas of the TVM, while also helping test their ability to apply the TVM in the measurement of financial statement items. Students work through two sections. The first helps them understand the theory - using whatever method the instructors choose (manually, through Excel®, with tables, or via a calculator). The second offers students the opportunity to apply the theory by giving them a number of scenarios regarding each financial statement.
  • Learning Catalytics, available through MyLab Accounting, is a “bring your own device” assessment and classroom activity system that expands the possibilities for student engagement. By using Learning Catalytics, you can deliver a wide range of automatically graded or open-ended questions that test content knowledge and build critical thinking skills. Eighteen different answer types provide great flexibility, including graphical, numerical, textual input, and more.

  1. Business, Accounting, and You
  2. Analyzing and Recording Business Transactions
  3. Preparing for Period-End: Adjusting and Closing Entries
  4. Analyzing and Reporting Cash and Receivables
  5. Accounting for Sales and Inventory for a Merchandising Business
  6. Analyzing and Reporting Inventory and Cost of Goods Sold
  7. The Challenges of Accounting Standards, Internal Control, Audits, Fraud, and Ethics
  8. Analyzing and Reporting Long-Lived and Other Assets
  9. Analyzing and Reporting Liabilities
  10. Analyzing and Reporting Shareholders' Equity
  11. Preparing and Interpreting the Statement of Cash Flows
  12. Analyzing Financial Statements and Measuring Performance

Robert Kemp, DBA, CPA, is the Ramon W. Breeden, Sr., Research Professor at the McIntire School of Commerce in the University of Virginia. He is a certified public accountant and possesses baccalaureate, master's, and doctorate degrees in business administration. Professor Kemp is an accomplished scholar who conducts research and writing in the theory and practice of contemporary business. He currently is conducting research in the funding of pensions, the management of financial institutions, and corporate finance.

His scholarly works include 70 completed projects, including monographs, articles, cases, research presentations, and working papers. His work is published in, among other places, The Financial Review; The Journal of Financial Research; Advances in Accounting, A Research Journal; Benefits Quarterly; The Journal of Mathematics Applied in Business and Industry; The Journal of Accountancy; The Journal of Commercial Bank Lending; The Journal of Bank Accounting and Auditing; and The Journal of Business Economics.

Jeffrey Waybright teaches accounting at Spokane Community College, which is part of a multi-college district in eastern Washington. He has been a full-time, tenured, community college instructor for more than 25 years, and has also taught upper division courses for Linfield College. He is a co-recipient of the Washington Society of CPA's Outstanding Educator Award. Waybright received his bachelor of arts degree in business administration (with an emphasis in accounting) and master's of arts degree from Eastern Washington University.

Before becoming a professor, he spent eight years as a practicing CPA in Washington state, and still holds his license. During his teaching career, he has taught many disciplines of accounting, including financial, managerial, computerized, and payroll accounting, as well as the disciplines of entrepreneurship, economics, business math, and general business.

Liang Hsuan Chen, BA, MSEd., MBA, PhD, FCPA, FCGA, is an Associate Professor, Teaching Stream in Accounting at the University of Toronto Scarborough, and has served as the Associate Dean–Academic (2010–2013) the Director of FAIR-Taiwan (an international recruitment program 2013–2014), and a board member of the Certified General Accountants of Ontario (2005–2011). 

Dr. Chen has extensive teaching experience ranging from pre-school to graduate school in Taiwan, the United States, and Canada. She is a dedicated educator who has helped many students and immigrants to transition into accounting careers, and as a result, she has re-ceived a CGA Ontario mentorship award, a CGA Canada fellowship award, and a CGA On-tario UTSC Alumni Award. She was the recipient of the Mandarin Profile Award—Professionals Sector, Fairchild Television in 2011. Her research on international students has won her an international research award (Alice L. Beeman Research Award in Communications and Marketing for Educational Advancement) from the Council for Ad-vancement and Support of Education (CASE) based in Washington DC, in 2007. She was a recipient of the William G. Davis Fellowship Award in Higher Education. Her publications related to international students' choice of Canadian graduate schools and marketing of higher education can be seen in Higher Education, the Canadian Journal of Higher Educa-tion, the International Journal of Educational Advancement, and the Journal of Marketing for Higher Education. She co-authored and adapted a cost management textbook published by Wiley in 2016, and a financial accounting textbook published by Pearson in 2012. 

Dr. Chen has also worked in the private sector in Accounting and Marketing functions. She received her BA in English Language and Literature from Soochow University in Taiwan, a Master of Science in Education from the University of Pennsylvania, and obtained an MBA and later a PhD in Higher Education, both from the University of Toronto.

Sandra Daga, HBA, MEd, CPA (USA), CPA-CA, is an associate professor at the University of Toronto at Scarborough. She has extensive teaching experience over many years, teach-ing introductory accounting to capstone courses. She instructs in the UTSC MaccFin pro-gram, a masters program dedicated to students planning for their CPA and their Certified Financial Analyst designations. She has contributed to the development of several account-ing textbooks and is a speaker and commentator on personal finance.

Ms. Daga was in industry for a number of years, including her careers at PriceWaterhouse-Coopers and at Apple Canada Inc. She obtained her HBA at the University of Waterloo and her Masters of Education at the University of Toronto. She is a board member of several community non-profits. She is a mentor in the CPA program and has taught with CPA On-tario in their professional development programs and courses.

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