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The Impact on Decision Makers Curtis Norton ------------------------------------------------------------------------- Included the statement of cash flows in among the financial statements. Moved “The Accounting Profession” from Chapter 1 to Appendix A at the end of Added a brief section on the role of a ounting standards and practices is an issue that future business students will likely face. Chapter 2: Financial Statements and the Annual Report Added General Mills as the focus compa Reinstated coverage of the operating cycle cereals: Would it be General Mills or Kellogg’s? ational perspective on qualitative characteristics. standards harmonization in Chapter 1. the following end-of-chapter material is Updated: P2-10, P2-10A, DC2-2. Chapter 3: Processing Accounting Information company for Chapter 3. The operation of Introduced a new transaction format at the e remainder of the text. The new format statements. Replaced the term Added a Hot Topics feature on Southwest Airlines teaming up with PayPal to the following end-of-chapter material is ent and Accrual Accounting Added Nordstrom, Inc. as the focus company for Chapter 4. Students buy uation as an element with all journal basis for recording transactions. arise from two different forms of credit Nordstrom extends to customers. One is from the company’s own private label card and the other from its co-branded VISA® credit card. the following end-of-chapter material is Added Gap Inc. as the focus company for Chapter 5. Gap’s brands are highly Moved the operating cycle coverage to Ch the accounting implications shown in the 2007 financial statements. the following end-of-chapter material is Chapter 6: Cash and Internal Control Added Sears Holdings Corp. as the focus company for Chapter 6. Focusing on illustrated in the opener using the first Added a Hot Topics feature on the merger cash flows and the management of exce ss cash as a key to the success of the combined companies. Revised the Sarbanes-Oxley coverage around Sears’ management report on its tors’ report on internal control. the following end-of-chapter material is Chapter 7: Receivables and Investments e most current information available and replaced the financial statements for Apple, Inc. as the focus company for Chapter 7. Apple has high name recogn has been in the spotlight recently with the introduction of its new iPhone. Chapter 7 has undergone significan t revision and reorganization: e start of the chapter, pr ior to investments. This order is more logical, as compan ies often invest excess cash from the collection of their receivables. Thus , investments follow receivables. Coverage of investments has been consolidated into the body of the chapter with the elimination of the appendix in the fifth edition. In doing so, the coverage has been streamlined considerably, with the elimination on between trading securities and available-for-sale securities. Added a Hot Topics feature covering the following end-of-chapter material is most current information available and replaced the financial statements for Ni ke as the focus company for Chapter 8. Eliminated coverage of natural resour ces as a result of reviewer comments. Added a Hot Topics feature on Nike’s introduction of it ZOOM footwear, depending on Nike’s brand identity Chapter 9: Current Liabilities, Contingencies, and the Time Value of Money Added Starbucks as the focus company for Chapter 9. Updated Exhibit 9-1 on current and quick ratios to focus only on Starbucks and its Added a Hot Topics feature that focuse s on a possible contingent liability: the following end-of-chapter material is Updated the Coca-Cola chapter opener with the most current information available and replaced the financial stat ements as the focus company for Chapter 10. Focuses on Coke’s long-term growth pl ans needing long-term investments to Added a separate Learning Outcome (and re Added a Hot Topics feature comparing Coca-Cola and PepsiCo for product introductions and how much these companies depend on long-term financing. the following end-of-chapter material is new or updated: New: DC10-1, DC10-2; Updated: P10-10, P10-10A, DC10-3. Chapter 11: Stockholders’ Equity s company for Chapter 11. Southwest’s performance is key to building shareholder value, shown by its stockholders’ All exhibits that include actual compa ny information were replaced with new companies for continued relevance. Shortened and made more c Added a Hot Topics feature on Southwest’s 124 of a number of future challenges the following end-of-chapter material is Chapter 12: The Statement of Cash Flows Updated the chapter opener with the mo st current information available and replaced the financial statements from Be st Buy as the focus company for Chapter ing cash flows of various companies to include Best uy’s 2007 statement of cash flows that reported expenditure of $733 million on a dditions to property and equipment. the following end-of-chapter material is Chapter 13: Financial Statement Analysis Updated the chapter opener with the mo st current information available and replaced the financial statements from Wm. Wrigley Jr. Co. as the focus company Added a Hot Topics feature on how Wrigley’ premium chocolate maker. the following end-of-chapter material is Based on reviewer feedback this topic was moved from Chapter 1. Appendix B: Excerpts from Kellogg’s Form 10-K for 2006 New for this edition is Kellogg’s, the focus company used in Chapter 1. ral Mills’s Form 10-K for 2006 New for this edition is General Mills, the focus company used in Chapter 2.