Edmonds: Fundamental Financial Accounting Concepts is a unique entrant in the college market that fits a growing audience of non-accounting majors, yet provides a solid foundation in accounting principles for future accounting students. The Edmonds approach, which focuses on core concepts within a decision-making context, better prepares future managers for the corporate world in which they will be users of financial information. It is a conceptually based book that stresses meaningful learning over rote memorization.
More specifically, the text focuses on the relationships between business events and financial statements. The primary objective is for students to develop and explain how a particular business event can affect the income statement, balance sheet, and the cash flow statement. Did the event cause assets to increase, decrease, or stay the same?
Similarly, what was its effect on liabilities, equity, revenue, expense, gains, losses, net income, and dividends? Furthermore, how did the event affect cash flow? These are the big picture relationships that both accounting majors and general business students need to understand to function effectively in the business world. The text contains numerous innovative features that are designed to facilitate the students' comprehension of the events affecting financial statements.
Thomas P. Edmonds, Ph.D.: Dr. Edmonds is Professor of Accountancy at the University of Alabama at Birmingham, (UAB). He has been actively involved in teaching accounting principles throughout his academic career. He has received several prestigious teaching awards, including the UAB President’s Excellence in Teaching Award and the distinguished Ellen Gregg Ingalls Award for excellence in classroom teaching. His academic experience includes being published in the Journal of Accounting Education, the Accounting Review, and the Journal of Accounting, Auditing and Finance among others. Dr. Edmonds received his Ph.D. in Accounting from Georgia State University.
Carole Bowman is foundation year coordinator at Sheridan College (Brampton campus), responsible for the first year business students and the curriculum development for their foundation year. She received her BBA from Wilfrid Laurier University with a major in accounting and a minor in economics. She is an alumnus of Arthur Andersen and Co. where she gained extensive knowledge in accounting and taxation of small businesses. Her designation as a certified management accountant helped her build a successful accounting and tax practice. Since 1989, Carole has taught many accounting courses at Sheridan including introductory accounting, intermediate accounting, advanced accounting and cost accounting. Other courses include income tax and computer software systems. Realizing the need for a different approach in accounting to improve student success for both accounting and non-accounting majors, she readily accepted the opportunity to co-author this exciting, new accounting textbook with its unique approach to learning accounting.
Donna P. Grace has a background in finance and accounting which began in American financial institutions. Her B.B.A. degree is with a concentration in accounting and she earned her MBA, majoring in finance, from Eastern Illinois University. Donna is a professor of Accounting and Finance at Sheridan, School of Business, Brampton, Ontario. In addition to twenty years as a lecturer, Donna has served as Chairperson in the School of Business and is Coordinator of the Accounting program. She has worked as a consultant to external agencies, including Canada Customs and Revenue Agency. Donna has been published as a supplements contributor and secondary author of several accounting texts. She is quite enthusiastic about the innovative approach this text follows with the use of the “financial statements model” as a method of teaching introductory accounting.
