Fundamentals of Financial Accounting – 6th Edition

• Author: Fred Phillips, Robert Libby, Patricia Libby
• Publisher: McGraw Hill
• Publication Date: January 15, 2018
• ISBN-10: 1259864235
• ISBN-13: 978-1259864230
• Edition: 6th

Fundamentals of Financial Accounting introduces students to financial accounting using a balanced mix of conversational wording, clear and concise presentations, and everyday examples. This approach allows students to grasp concepts fundamental to financial accounting without sacrificing rigor or depth of coverage. The text incorporates carefully chosen focus companies that students recognize and engage with in their everyday lives, from innovative tech start-ups to some of the world’s most familiar trademark brands.

Each chapter opens with an engaging scenario or story using a familiar company. This same focus company is utilized throughout the entire chapter, enabling students to see exactly how concepts and calculations apply to a real-world business they already recognize. This continuity helps bridge the gap between abstract accounting theory and practical application.

Built upon peer-reviewed research and a careful analysis of data, the 6th Edition utilizes an informed pedagogy to enhance the presentation of concepts. A primary feature is the step-by-step model for teaching the accounting cycle, which was developed to lead to better results in both short-term assessment and long-term understanding. By breaking the accounting cycle down into cohesive, manageable segments, the text helps students develop a stronger foundational understanding of the material.