Financial Accounting, Global Edition

About our authors 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.Professor Kemp is an accomplished teacher to university students and executives throughout the world. During his 36 years at the University of Virginia, he has taught numerous undergraduate and graduate courses using lectures, case studies, discussion groups, and distance learning. His consistently high evaluations by students reflect his devotion to the classroom. This high quality is also seen in his teaching of business executives. He has worked with and taught for organizations such as Bank of America, the FDIC, Navigant-Tucker Alan, the Siberian Banking Institute, the Barents Group, KPMG, Gerson Lehrman, Wellington Management, the Russian Bankers Association, the Central Asian American Enterprise Fund, the American Institute of Certified Public Accountants, and the Consumer Bankers Association.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 8 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.Waybright developed online courses in accounting, teaches online and traditional courses for financial and managerial accounting, and advises students. He is passionate about teaching students the subject of accounting.

• Business, Accounting, and YouAnalyzing and Recording Business TransactionsAdjusting and Closing EntriesAccounting for a Merchandising BusinessInventoryThe Challenges of Accounting: Standards, Internal Control, Audits, Fraud, and EthicsCash and ReceivablesLong-Term and Other AssetsCurrent Liabilities and Long-Term DebtCorporations: Paid-In Capital and Retained EarningsThe Statement of Cash FlowsFinancial Statement AnalysisAPPENDICES Columbia Sportswear Company Annual Report 2016 to ShareholdersTime Value of Money—Future and Present Value ConceptsFASB Update—Revenue Recognition