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9780077251031

Principles of Accounting w/Annual Report

Libby, Robert; Libby, Patricia; Phillips, Fred; Whitecotton, Stacey

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The philosophy of Libby 1e is that “Teaching Accounting in the context of business” and that no matter what the student background or where their future lies, this book will give them the foundation they need to be a successful business owner or manager. Principles of Accounting is the first business course for nearly all of these students. Libby 1e is written by recognizing that students in the principles of accounting course have no previous exposure to accounting and financial statements and often little exposure to the business world but many of them have ambitions to own a business. Libby 1e slows down the approach to teaching transaction analysis, slowly building each layer of detail related to the financial statements and the accounting equation, as students work through the book. They learn the role of accounting from starting a business to operating it successfully.

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About the Author:

Robert Libby is the David A. Thomas Professor of Management at the Johnson Graduate School of Management at Cornell University, where he teaches the introductory financial accounting course. He previously taught at the University of Illinois, Pennsylvania State University, University of Texas at Austin, University of Chicago, and University of Michigan. He received his B.S. from Pennsylvania State University and his M.A.S. and Ph.D. from the University of Illinois; he is also a CPA. Bob is a widely published author specializing in behavioral accounting. He was selected as the AAA Outstanding Educator in 2000. His prior text, Accounting and Human Information Processing (Prentice Hall, 1981), was awarded the AICPA/AAA Notable Contributions to the Accounting Literature Award. He received this award again in 1996 for a paper. He has published numerous articles in the Journal of Accounting Research; Accounting, Organizations, and Society; and other accounting journals. He is past Vice President-Publications of the American Accounting Association and is a member of the American Institute of CPAs and the editorial boards of The Accounting Review; Accounting, Organizations, and Society; Journal of Accounting Literature; and Journal of Behavioral Decision Making.

Patricia Libby is Chair of the Department of Accounting and Associate Professor of Accounting at Ithaca College, where she teaches the undergraduate financial accounting course. She previously taught graduate and undergraduate financial accounting at Eastern Michigan University and the University of Texas. Before entering academe, she was an auditor with Price Waterhouse (now PricewaterhouseCoopers) and a financial administrator at the University of Chicago. She received her B.S. from Pennsylvania State University, her M.B.A. from DePaul University, and her Ph.D. from the University of Michigan; she is also a CPA. Pat conducts research on using cases in the introductory course and other parts of the accounting curriculum. She has published articles in The Accounting Review, Issues in Accounting Education, and The Michigan CPA. She has also conducted seminars nation-wide on active learning strategies, including cooperative learning methods.

Fred Phillips is a Professor and the George C. Baxter Chartered Accountants of Saskatchewan Scholar at the University of Saskatchewan, where he teaches introductory financial accounting. He also has taught introductory accounting at the University of Texas at Austin and the University of Manitoba. Fred has an undergraduate accounting degree, a professional accounting designation, and a PhD from the University of Texas at Austin. He previously worked as an audit manager at KPMG. Fred's main interest is accounting education. He has won eight teaching awards, including two national case-writing competitions. He has published instructional cases and numerous articles in journals like Issues in Accounting Education, Journal of Accounting Research, and Organizational Behavior and Human Decision Processes. Fred currently serves as an associate editor of Issues in Accounting Education, and he is a member of the Teaching & Curriculum and Two-Year College sections of the American Accounting Association. In his spare time, he likes to work out, play video games, and drink iced cappuccino.

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