Synopsis
Students are often overwhelmed by the amount of information presented in the introductory financial accounting course, while instructors often want their students to better grasp “the big picture.” Fundamentals of Financial Accounting Concepts delivers a unique approach to building accounting skills while maintaining a more traditional use of debits and credits. Through this method, the authors drive students’ curiosity and inspire them to ask the “why” questions that get at the heart of how Accounting works.
By teaching foundational accounting concepts in a logical sequence, the Edmonds author team shifts the focus from memorizing procedures to the development of real-world thinking patterns. Author Chris Edmonds has also created a highly popular and widely used series of video lectures, which engage students by clearly and charismatically going over each learning objective in a conversational style. These videos help reinforce important lessons and are always available for review.
Through use of the financial statements model and transactional analysis, students quickly see how any given business event affects the financial statements. By having this “big picture” mentality, students can tie any single transaction back to the impact on the overall business. Between the straightforward writing, popular video lectures, and unique coverage approach, Fundamentals of Financial Accounting Concepts enables students to fully comprehend the material presented as future decision-makers.
About the Authors
Frances M. McNair, PhD, CPA, holds the KPMG Peat Marwick Professorship in Accounting at Mississippi State University (MSU). She has been involved in teaching principles of accounting for the past 12 years and currently serves as the coordinator for the principles of accounting courses at MSU. Dr. McNair was selected as Accounting Educator of the year by the Mississippi Society of CPAs in 2014. She joined the MSU faculty in 1987 after receiving her PhD from the University of Mississippi. The author of various articles that have appeared in the Journal of Accountancy, Management Accounting, Business and Professional Ethics Journal, The Practical Accountant, Taxes, and other publications, she also coauthored the book The Tax Practitioner with Dr. Denzil Causey. Dr. McNair is currently serving on committees of the American Taxation Association, the American Accounting Association, and the Institute of Management Accountants as well as numerous School of Accountancy and MSU committees.
Professor Olds is associate professor of accounting at Virginia Commonwealth University (VCU). He serves as the coordinator of the introduction to accounting courses at VCU. Professor Olds received his AS degree from Brunswick Junior College in Brunswick, Georgia (now Costal Georgia College). He received a BBA in accounting from Georgia Southern College (now Georgia Southern University), and his MPA and PhD degrees are from Georgia State University. After graduating from Georgia Southern, he worked as an auditor with the U.S. Department of Labor in Atlanta, Georgia. A former CPA in Virginia, Professor Olds has published articles in various professional journals and presented papers at national and regional conferences. He also served as the faculty adviser to the VCU chapter of Beta Alpha Psi for five years.
In 1989, he was recognized with an Outstanding Faculty Vice-President Award by the national Beta Alpha Psi organization. Professor Olds has received both the Distinguished Teaching Award and the Distinguished Service Award from the VCU School of Business. Most recently, he received the university’s award for maintaining High Ethical and Academic Standards While Advocating for Student-Athletes and Their Quest Towards a Degree.
Thomas P. Edmonds, Ph.D., is Professor Emeritus in the Department of Accounting at the University of Alabama at Birmingham (UAB). He has been actively involved in teaching accounting principles throughout his academic career. Dr. Edmonds has coordinated the accounting principles courses at the University of Houston and UAB. He has taught introductory accounting in mass sections and in distance learning programs. He has received five prestigious teaching awards, including the Alabama Society of CPAs Outstanding Educator Award, the UAB President’s Excellence in Teaching Award, and the distinguished Ellen Gregg Ingalls Award for excellence in classroom teaching. He has written numerous articles that have appeared in many publications, including Issues in Accounting, the Journal of Accounting Education, Advances in Accounting Education, Accounting Education: A Journal of Theory, Practice and Research, the Accounting Review, Advances in Accounting, the Journal of Accountancy, Management Accounting, the Journal of Commercial Bank Lending, the Banker’s Magazine, and the Journal of Accounting, Auditing, and Finance. Dr. Edmonds has served as a member of the editorial board for Advances in Accounting: Teaching and Curriculum Innovations and Issues in Accounting Education. He has published five textbooks, five practice problems (including two computerized problems), and a variety of supplemental materials including study guides, work papers, and solutions manuals. Dr. Edmonds’s writing is influenced by a wide range of business experience. He is a successful entrepreneur. He has worked as a management accountant for Refrigerated Transport, a trucking company. Dr. Edmonds also worked in the not-for-profit sector as a commercial lending officer for the Federal Home Loan Bank. In addition, he has acted as a consultant to major corporations, including First City Bank of Houston (now Citi Bank), AmSouth Bank in Birmingham (now Regions Bank), Texaco, and Cortland Chemicals. Dr. Edmonds began his academic training at Young Harris Community College in Young Harris, Georgia. He received a B.B.A. degree with a major in finance from Georgia State University in Atlanta, Georgia. He obtained an M.B.A. degree with a concentration in finance from St. Mary’s University in San Antonio, Texas. His Ph.D. degree with a major in accounting was awarded by Georgia State University. Dr. Edmonds’s work experience and academic training have enabled him to bring a unique user perspective to this textbook.
Christopher T. Edmonds, PhD, is a professor in the Department of Accounting and Finance at the UAB Collat School of Business. He also is the course coordinator for the face-to-face and online principles of accounting courses. Dr. Edmonds specializes in teaching and developing engaging face-to-face and online introductory accounting courses. He is a frequent speaker at conferences and universities on best teaching practices and has delivered over 40 professional teaching workshops. His passion for helping students learn inspired him to create hundreds of short videos teaching the fundamental concepts of accounting. This work led to the publication of the first interactive video textbook for introductory accounting.
Dr. Edmonds has received seven prestigious teaching awards including the UAB President’s Outstanding Teaching Award, UAB Faculty Student Success Award, UAB Transformative Online Course Award, UAB Loudell Ellis Robinson Classroom Teaching Award, UAB Disability Support Recognition Award, and the Virginia Tech Favorite Faculty Award. He has published four textbooks and has written numerous articles that have appeared in publications including The Accounting Review, Auditing: A Journal of Theory and Practice, Journal of Accounting and Public Policy, Issues in Accounting Education, Advances in Accounting Education, Advances in Accounting, and Review of Quantitative Finance and Accounting. He currently serves on several editorial boards. Dr. Edmonds started his career as a web application developer creating software solutions to put newspapers online.
He began his academic training at Colorado State University. He obtained an MBA from UAB. His PhD with a major in accounting was awarded by Virginia Polytechnic Institute and State University.
Mark A. Edmonds, Ph.D., CPA, is an assistant professor in the Department of Accounting and Finance at the University of Alabama at Birmingham (UAB). He has taught principles and advanced accounting classes in face-to-face, flipped, and online formats.
Dr. Edmonds is currently spearheading the effort within the Collāt School of Business to integrate data analytics into the accounting curriculum. He has developed business analytics teaching tools at both the graduate and undergraduate level. Several contributions have been made to this text revolving around the data analytics concepts Dr. Edmonds incorporates into his classes. He is the recipient of the Loudell Ellis Robinson excellence in teaching award.
Dr. Edmonds began his career providing assurance services for the internationally recognized accounting firm Ernst & Young. He utilizes this professional experience to bring a practical approach to the concepts covered in this text. At the conclusion of his professional service, he obtained his PhD from Southern Illinois University Carbondale. He serves as the education adviser on the board of the Institute of Internal Auditors Birmingham Chapter. Dr. Edmonds’ research focuses on alternative learning strategies in accounting. He frequently publishes in prominent journals such as Issues in Accounting Education and Journal of Accounting Education.
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