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AccountingInternational editionNEW *9780078025396*2013 (March 2012) / 640 pagesISBN: 9780078025396ISBN: 9780071318259 [IE]www.mhhe.com/hoyle5e(Details unavailable at press time)FUNDAMENTALS OFADVANCED ACCOUNTING5th EditionBy Joe Ben Hoyle, University of Richmond,Thomas Schaefer, University of Notre Dame andTimothy Doupnik, University of South CarolinaInternational editionNEW *9780078025648*2012 (February 2011) / 864 pagesISBN: 9780078025648ISBN: 9780071325998 [IE]www.mhhe.com/baker2012ESSENTIALS OF ADVANCEDFINANCIAL ACCOUNTINGBy Richard E Baker, Northern Illinois University,Theodore Christensen and David Cottrell ofBrigham Young University-ProvoEssentials of Advanced Financial Accounting is an up-to-date andhighly illustrated presentation of the accounting and reporting principlesand procedures used in a variety of business entities. The bookis ideal for instructors who have only a single term or semester toteach the core elements of the advanced accounting material thatis most frequently represented on the CPA exam; this text containsthe essential information on consolidations, multinational entities,partnerships, and governmental and not-for-profit entities. Mostone-term courses are unable to cover all the topics included in atraditional comprehensive advanced accounting text. In recognitionof time constraints, this text is structured to provide the most efficientuse of the time available, while maintaining all the learning supportand ancillary materials that cover these essential topics. For studentsand instructors who would like to cover a wider set of topics, we inviteyou to examine our comprehensive text, Advanced Accounting, whichis now in its ninth edition. The text is highly illustrated with completepresentations of worksheets, schedules, and financial statements sothat students can see the development of each topic. Inclusion of allrecent FASB and GASB pronouncements and the continuing deliberationsof the authoritative bodies provide a current and contemporarytext for students preparing for the CPA Examination and currentpractice. The book’s building block approach introduces concepts withsimple examples and then gradually introduces complexity, allowingstudents to easily keep pace with the material.NEW TO THIS EDITIONMcGraw-Hill Connect Accounting and Connect Plus Accounting:This edition will include Connect and Connect Plus to be availablefor fall 2011.Introductory Vignettes—Each chapter begins with a brief story ofa well-known company to illustrate why topics covered in that chapterare relevant in current practice.New FASB Codification—All authoritative citations to U.S. GAAPinclude secondary citations to the new FASB codification. We maintainthe authoritative citations during this period of transition. The nextedition will transition completely to the FASB codification.IFRS Comparisons—As the FASB and IASB work toward convergenceto a single set of global accounting standards, the SEC isdebating the wholesale introduction of international financial reportingstandards (IFRS). Given the SEC’s February 2010 work plan, studentsneed to prepare for the imminent transition to IFRS. The textsummarizes key differences between current U.S. GAAP and IFRSto make students aware of changes that will likely occur if the SECadopts IFRS in the near future.A Building-Block Approach to Consolidation—Virtually all advancedfinancial accounting classes cover consolidation at least tosome extent. While this topic is perhaps the most important to instructors,students frequently struggle to gain a firm grasp of consolidationprinciples. The text introduces consolidation concepts and proceduresmore gradually by beginning the discussion earlier in chapters 2 and 3.Reorganization of Consolidation Elimination Entries—Consistentwith the building block approach to consolidation, the text organizesthe elimination entries used in consolidation to facilitate the eliminationof the investment in a subsidiary in two steps: (1) first the bookvalue portion of the investment and income from the subsidiary areeliminated and (2) then the differential portion of the investment andincome from subsidiary are eliminated with separate entries. Thisapproach facilitates the building-block approach in chapters 2-5. Thetext also uses frequent illustrations to help students visualize the stepsin the elimination process.Presentation of Intercompany Transactions— Intercompanyinventory transfers are presented before fixed-asset transfers. Inventorytransfers are (1) far more common than fixed-asset transfersand (2) easier for students to understand. The fully adjusted equitymethod is presented in Chapters 6 and 7. This method links back tothe building-block approach in Chapters 2–5.Instructor Resources—The authors have developed a set ofPowerPoint slides designed to do much more than simply summarizethe topics in each chapter. They illustrate key concepts but alsoinclude group exercises and practice quiz questions to give studentshands-on practice in class to better prepare them for future homeworkand assessment experiences. Instructors benefit from proven interactiveclass discussions and exercises fully annotated by the authors.Advanced Study Guide—The book introduces the most cuttingedge technology supplement ever delivered in the advanced accountingmarket. AdvancedStudyGuide.com is a product created exclusivelyby the authors of the text which represents a new generation in studyresources available to students as well as a new direction and optionsin the resources Instructors can use to help their students and elevatetheir classroom experiencesCONTENTS1 Intercorporate Acquisitions and Investments in Other Entities2 Reporting Intercorporate Investments and Consolidation of WhollyOwned Subsidiaries with No Differential3 The Reporting Entity and Consolidation of Less-than-Wholly-OwnedSubsidiaries with No Differential4 Consolidation of Wholly Owned Subsidiaries Acquired at Morethan Book Value5 Consolidation of Less-than-Wholly-Owned Subsidiaries Acquiredat More than Book Value39