Intermediate Accounting, 4th edition

Published by Pearson (January 1, 2025) © 2026

  • Elizabeth A. Gordon Temple University
  • Jana S. Raedy University of North Carolina
  • Alexander J. Sannella Rutgers Business School

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For intermediate accounting courses.

Solving problems like a real accountant

Intermediate Accounting helps students develop the judgment and decision-making skills needed to evaluate company financials and pass the CPA exam. Instead of memorizing rules, learners build a deep conceptual understanding of financial reporting and the ability to interpret and apply changing standards.

The 4th Edition incorporates the latest accounting standards and regulations, with side-by-side comparisons of GAAP and IFRS standards. By reprioritizing topical coverage, the authors respond to changes in the business world and in accounting literature, while addressing subjects not typically found in comparable texts.

Hallmark features of this title

Real-world insights

  • Real financial statements from well-known companies demonstrate applications of accounting concepts and financial statement analysis.
  • Interviews with leaders in the field address the business impact of rapidly evolving standards.

Emphasis on concepts

  • The Conceptual Framework Connection sections of each chapter guide discussion and analysis of best practices for reporting financial information.
  • Judgment and Decision-Making sections of each chapter consider the role of judgment in making key management decisions.

Meaningful practice

  • Worked examples model solutions for every important concept, bolstering problem-solving skills.
  • End-of-chapter exercises, such as case exercises, progress in difficulty to gauge comprehension and cultivate judgment-based analysis.

New and updated features of this title

Up-to-date standards

  • NEW: The entirety of the new Statement of Financial Accounting Concepts No. 8 was incorporated into Chapter 2.
  • NEW: Discussions of Environmental, Social and Governance and Sustainability in Accounting are now in Chapter 1. The chapter now also addresses the move towards increased disclosures in financial reporting as well as technology and digital transformation in the accounting profession.
  • NEW: ASU 2023-08, which provides guidance on accounting for crypto assets, now appears in Chapter 11.
  • NEW: ASU 2023-09, which provides requirements for additional tax disclosures, is now reflected in Chapter 17.

Reassessed coverage

  • REVISED: Topical coverage was reprioritized in response to changes in the business world and in authoritative accounting literature.
  • NEW: Topics that have gained importance in the field, but are not typically covered, were added (e.g., tax contingencies and revaluations of long-term operating assets under IFRS).

Features of MyLab Accounting for the 4th Edition

  • With Data Analytics Projects, students analyze company financial statements and then use data visualizations to support their findings.
  • The Accounting Cycle Tutorial provides an interactive refresher on each step of the accounting cycle, while preparing students for intermediate-level work.
  • The Time Value of Money (TVM) Tutorial breaks down the basic theory and formulas of TVM and explains how they can be applied to measuring financial statement items.
  • Worked Problem Videos provide step-by-step explanations of problems, while Concept Videos emphasize and elaborate on major concepts.
  • Auto-graded Excel Projects use proven, field-tested technology to help learners build key skills in Microsoft® Excel®. You can seamlessly integrate Excel content into your course without having to manually grade spreadsheets.
  • Becker CPA multiple-choice questions introduce the CPA exam format and offer invaluable practice with CPA exam-style questions.

Features of Pearson+ eTextbook for the 4th Edition

  • Personalized study tools, accessible on both the web and the mobile app, help students learn key terms and check their understanding.
  1. The Financial Reporting Environment
  2. Financial Reporting Theory
  3. Judgment and Applied Financial Accounting Research
  4. Review of the Accounting Cycle
  5. Statements of Net Income and Comprehensive Income
  6. Statements of Financial Position and Cash Flows and the Annual Report
  7. Accounting and the Time Value of Money
  8. Revenue Recognition
  9. Short-Term Operating Assets: Cash and Receivables
  10. Short-Term Operating Assets: Inventory
  11. Long-Term Operating Assets: Acquisition, Cost Allocation, and Derecognition
  12. Long-Term Operating Assets: Departures from Historical Cost
  13. Operating Liabilities and Contingencies
  14. Financing Liabilities
  15. Accounting for Stockholders’ Equity
  16. Investments in Financial Assets
  17. Accounting for Income Taxes
  18. Accounting for Leases
  19. Accounting for Employee Compensation and Benefits
  20. Earnings per Share
  21. Accounting Changes and Error Analysis
  22. The Statement of Cash Flows
  • Glossary

About our authors

Elizabeth A. Gordon, PhD, MBA, CPA, is professor of accounting, senior associate dean for faculty affairs and a Merves Senior Research Fellow at the Fox School of Business at Temple University. She received her doctorate from Columbia University, master’s degree in business administration from Yale University and Bachelor of Science degree in accounting with highest distinction from Indiana University.

Dr. Gordon specializes in the areas of financial accounting and international financial reporting and investigates topics such as international financial reporting standards, corporate disclosure, executive compensation, related-party disclosures and market development. Her research is published in top journals in her field, including Journal of Accounting Research, The Accounting Review, Review of Accounting Studies, Journal of Accounting, Auditing and Finance, and Journal of Accounting and Public Policy. She serves as an editor of Journal of International Financial Management and Accounting and an editor of Journal of International Accounting Research. Dr. Gordon is a past president of the International Accounting Section of the American Accounting Association and of the International Association for Accounting Education and Research. She served as Chair of the Department of Accounting at the Fox School.

Dr. Gordon has taught courses in financial accounting and international accounting at the graduate and undergraduate levels, receiving a number of teaching awards. She has coauthored accounting readings for the CFA Institute, integrating IFRS and U.S. GAAP. She was an auditor with PricewaterhouseCoopers, LLP, and interned at the U.S. Office of Management and Budget before entering academia. Dr. Gordon is a CPA in the State of Maryland. She has been on the faculty of the University of Chicago Graduate School of Business and the Rutgers Business School and has been a visiting professor at the University of Pennsylvania.

Jana S. Raedy, PhD, CPA, is associate professor of accounting, senior associate dean for business and operations, and the Ernst & Young Scholar in Accounting at the Kenan-Flager Business School at the University of North Carolina at Chapel Hill. She received her Bachelor of Science and Master of Science degrees from the University of Kentucky and her doctorate from The Pennsylvania State University.

Dr. Raedy’s research is primarily focused on issues in international financial reporting as well as areas in which financial reporting and taxation intersect. Her research is published in top journals such as Journal of Accounting Research, Journal of Accounting and Economics, The Accounting Review, Contemporary Accounting Research, Journal of Business, Tax Notes and Journal of the American Taxation Association.

Dr. Raedy has taught a number of courses in financial reporting at the graduate level, including core financial reporting (both introductory and intermediate accounting), international financial reporting, financial disclosures and forensic accounting. For over 15 years, she taught a self-developed course in applied financial accounting research with a heavy emphasis on judgment and decision making. During her academic career, she has received a number of different teaching awards.

Alexander J. Sannella, PhD, CPA, is currently Professor of Accounting and Information Systems at the Rutgers Business School, as well as the director of the MBA in Professional Accounting Program and the academic director of the Master of Accountancy in Accounting and Analytics Program. He earned a BBA in finance and an MBA in accounting from the LaPenta School of Business at Iona University. He received his PhD in accounting and finance from New York University and is a New York State Certified Public Accountant. He also holds a Bachelor of Arts in music from Rutgers University.

During his years at the Rutgers Business School, he has taught at both the graduate and undergraduate levels and served as Associate Dean of the Business School and Vice Chair of the Department of Accounting and Information Systems. Previously, Dr. Sannella served on the faculty of New York University as an instructor of accounting at the Stern School of Business and as an associate professor of accounting at Iona University’s LaPenta School of Business.

He has public accounting experience as an auditor for PricewaterhouseCoopers, LLP, and KPMG, LLP. Dr. Sannella was also an independent consultant working on many projects with other public accounting firms, bankruptcy trustees and leasing divisions of major insurance companies. He also served as a consultant to the Line of Business Program at the Federal Trade Commission in Washington, DC. Dr. Sannella also served as a member of the Financial Reporting Executive Committee (FinREC) at the American Institute of Certified Public Accountants (AICPA).

Dr. Sannella has over 50 years’ teaching experience at the university level and over 35 years’ experience in developing and teaching commercial and investment bank training programs. His clients included eight major investment banks and four of the world’s largest commercial banks. His training programs include courses designed to train financial analysts and associates and special programs for sales and trading professionals.

He is the author of many scholarly journal articles and three books. His articles have focused on market-based accounting research and, more recently, accounting education and the valuation of digital assets. Dr. Sannella’s books focus on the effects of accounting alternatives on the judgment of analysts and other statement users. Many of the books’ topics are included in training videos and CPE courses.

He has been interviewed by several publications, including the Newark Star Ledger and NJ Biz.

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