Horngren's Financial & Managerial Accounting, 7th edition

Published by Pearson (April 21, 2020) © 2021

  • Tracie Miller-Nobles Austin Community College, Texas
  • Brenda Mattison Tri-County Technical College

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For courses in financial and managerial accounting.

Expanding on proven success with Horngren's accounting

Horngren's Financial & Managerial Accounting presents the core content of principles of accounting courses in a fresh format designed to help today's learners succeed. The text's pedagogy and content use leading methods in teaching students critical foundational and emerging topics in the field of accounting, all tested in class by the authors themselves.

With this in mind, the 7th Edition continues to focus on readability and student comprehension. It takes this a step further in the managerial chapters by illustrating how managerial accounting is used as a tool to help all business people make optimal decisions.

Hallmark features of this title

Assistance with difficult concepts

  • Common Questions, Answered offers added help with patterns and rules that consistently confuse students.
  • Instructor Tips & Tricks mimic the experience of having an experienced teacher walk a student through concepts on the "board".

Development of critical-thinking and analysis skills

  • Try It! boxes let students apply the concepts they've just learned by completing an accounting problem.
  • Things You Should Know provide students with a brief review of each learning objective presented in a question and answer format, helping to prepare them for exams.
  • Decision boxes highlight common questions that business owners face, prompting students to determine the course of action they would take based on concepts covered in the chapter.

New and updated features of this title

Relevant, timely content

  • UPDATED: Current data and research connects accounting concepts to real business practices, helping students to engage with the course.
  • NEW and UPDATED: Discussions of important concepts, calculations, and designations help students to better understand the material overall, and the importance of credentials in today's job market.

Student-centric features facilitate learning

  • UPDATED: Chapter Openers present relatable stories that set up the concepts to be covered in the chapter.
  • NEW: Data Analytics in Accounting features highlight how real companies use data analytics to track inventory, forecast sales and maximize profits.

Development of critical-thinking and analysis skills

  • UPDATED: Check Your Understanding boxes gauge student comprehension and have been updated to include new accounts introduced under the Revenue Recognition Standard.
  • UPDATED: End-of-chapter problems and exercises contain updated years and company financial information. They help students build skills to analyze and interpret information and apply reasoning and logic to new or unfamiliar ideas and situations.

Highlights of the DIGITAL UPDATE for MyLab Accounting (available for Spring 2022 classes)

Instructors, contact your sales rep to ensure you have the most recent version of the course.

  • NEW: Brand new MyLab Test Bank Questions offer more rigorous student assessment options.
  • NEW: Mini Simulations put students in professional roles and give them the opportunity to apply course concepts and develop decision-making skills through real-world business challenges.

Features of MyLab Accounting for the 7th Edition; published 2020

  • Assign problems through a variety of Question Types, including Final Answer, Open Response, Static, Algorithmic Testbank, Excel Projects, and General Ledger questions.
  • NEW: Data Analytics Projects offer students hands-on practice in analyzing and reporting data.
  • Videos explore multiple business topics related to the theory students are learning in class. Exercise quizzes assess students' comprehension of the concepts in each video.
  • Pearson eText is an easy-to-use digital textbook, available with MyLab that lets students read, highlight and take notes all in one place, even when offline.
  • The Accounting Cycle Tutorial lets students practice each step of the accounting cycle using engaging, interactive content.
  • Auto-graded Excel Projects let you seamlessly integrate Microsoft® Excel® content into your course without having to manually grade spreadsheets.

THE FINANCIAL CHAPTERS

  1. Accounting and the Business Environment
  2. Recording Business Transactions
  3. The Adjusting Process
  4. Completing the Accounting Cycle
  5. Merchandising Operations
  6. Merchandising Inventory
  7. Internal Control and Cash
  8. Receivables
  9. Plant Assets, Natural Resources, and Intangibles
  10. Investments
  11. Current Liabilities and Payroll
  12. Long-Term Liabilities
  13. Stockholder's Equity
  14. The Statement of Cash Flows
  15. Financial Statement Analysis

APPENDICES

  1. Present Value Tables and Future Value Tables
  2. Accounting Information Systems

THE MANAGERIAL CHAPTERS

  1. Introduction to Managerial Accounting
  2. Job Order Costing
  3. Process Costing
  4. Lean Management Systems: Activity-Based, Just-in-Time, and Quality Management Systems 
  5. Cost-Volume Profit Analysis
  6. Variable Costing
  7. Master Budgets
  8. Flexible Budgets and Standard Cost Systems
  9. Responsibility Accounting and Performance Evaluation
  10. Short-Term Business Decisions
  11. Capital Investment Decisions

APPENDICES

  1. Present Value Tables and Future Value Tables
  2. The Statement of Cash Flows
  3. Financial Statement Analysis

About our authors

Tracie L. Miller-Nobles, CPA, is an associate professor at Austin Community College. She has teaching experience at the community college and university level. Professor Miller-Nobles received her master's degree in accounting from Texas A&M University and is working on her doctoral degree in Adult Education also from Texas A&M University. Her research interest includes financial literacy education, adult learning theories, and online learning. She has public accounting experience with Deloitte Tax LLP.

Professor Miller-Nobles is on the Board of Directors for the American Accounting Association (AAA) as Director-Focusing on Members. She has served in leadership roles for AAA's Teaching, Learning, and Curriculum section and AAA's Two Year College section and was a member of the Pathway's Commission on Accounting Higher Education. Prof. Miller-Nobles is also on the Board of Directors for Teachers of Accounting at Two Year Colleges (TACTYC) as Secretary/Webmaster. She is an active member of the American Institute of Certified Public Accountants (AICPA) Consumer Financial Education Advocates committee. At the state level, she serves on the Relations with Educational Institutes for the Texas Society of Certified Public Accountants (TXCPA).

Tracie has received several teaching and professional awards including the AAA J. Michael and Mary Anne Cook Prize, TXCPA Outstanding Accounting Educator, TXCPA Rising Star, and the TXCPA Austin Chapter CPA of the Year. In her spare time, Tracie enjoys spending time with her husband, Kevin, his 3 kids, Caleb, Josh, and Meggie, her parents, Kipp and Sylvia, and sister, Michelle. She believes that camping and hiking is restorative and calming and that life was meant for good friends and great adventures. Tracie has been mentored by many wonderful colleagues and inspired by her students.

Brenda L. Mattison, CMA, has a bachelor's degree in education and a master's degree in accounting, both from Clemson University. She is currently an Accounting Instructor at Tri-County Technical College in Pendleton, South Carolina. Brenda previously served as Accounting Program Coordinator at TCTC and has prior experience teaching accounting at Robeson Community College, Lumberton, North Carolina; University of South Carolina Upstate, Spartanburg, South Carolina; and Rasmussen Business College, Eagan, Minnesota. She also has accounting work experience in retail and manufacturing businesses and is a Certified Management Accountant.

Brenda is a member of the American Accounting Association, Institute of Management Accountants, South Carolina Technical Education Association, and Teachers of Accounting at Two Year Colleges. She is currently serving on the Board of Directors as Vice President of Conference Administration of Teachers of Accounting at Two Year Colleges.

Brenda previously served as Faculty Fellow at Tri-County Technical College. She has presented at state, regional and national conferences on topics including active learning, course development, and student engagement.

In her spare time, Brenda enjoys reading and spending time with her family. She is also an active volunteer in the community, serving her church and other organizations.

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