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.
Dan Short is the Dean of the M.J. Neeley School of Business at Texas Christian University in Fort Worth, TX. Prior
to that he was Dean at Richard T. Farmer School of Business at Miami University and Dean of the Business School
at Kansas State University. Before entering adminstration, Dan taught at the University of Texas-Austin and the
University of Chicago. He received his Ph.D. from the University of Michigan. He has won numerous teaching awards
during his career teaching both undergraduate and MBA financial accounting courses.
Summary
Libby/Libby/Short wrote this text based on their belief that the subject of financial accounting is inherently interesting, but financial accounting textbooks are often not. They believe most financial accounting textbooks fail to demonstrate that accounting is an exciting field of study and one that is important to future careers in business. When writing this text, they considered career relevance as their guide when selecting material, and the need to engage the student as their guide to style, pedagogy, and design. Libby/Libby/Short is the only financial accounting text to successfully implement a real-world, single focus company approach in every chapter. Students and instructors have responded very favorably to the use of focus companies and the real-world financial statements. The companies chosen are engaging and the decision-making focus shows the relevance of financial accounting regardless of whether or not the student has chosen to major in accounting.
Table of Contents
Table of Contents
Chapter 1: Financial Statements and Business Decisions
Focus company: Maxidrive Corporation
Chapter 2: Investing and Financing Decisions and the Balance Sheet
Focus company: Papa John�s International
Chapter 3: Operating Decisions and the Income Statement
Focus company: Papa John�s International
Chapter 4: Adjustments, Financial Statements, and the Quality of Earnings
Focus company: Papa John�s International
Chapter 5: Communicating and Interpreting Accounting Information
Focus company: Callaway Golf
Chapter 6: Reporting and Interpreting Sales Revenue, Receivables, and Cash
Focus company: Deckers Outdoor Corporation
Chapter 7: Reporting and Interpreting Cost of Goods Sold and Inventory
Focus company: Harley-Davidson, Inc.
Chapter 8: Reporting and Interpreting Property, Plant, and Equipment; Natural Resources; and Intangibles
Focus company: Southwest Airlines
Chapter 9: Reporting and Interpreting Liabilities
Focus company: Starbucks
Chapter 10: Reporting and Interpreting Bonds
Focus company: Burlington Northern Santa Fe
Chapter 11: Reporting and Interpreting Owners� Equity
Focus company: Kroger
Chapter 12: Reporting and Interpreting Investments in Other Corporations
Focus company: The Washington Post Company
Chapter 13: Reporting and Interpreting Investments in Other Corporations
Focus company: National Beverage Corp.
Chapter 14: Analyzing Financial Statements
Focus company: Home Depot
Appendix A: Present and Future Value Tables
Appendix B: American Eagle Outfitters Annual Report
Appendix C: Pacific Sunwear 2004 Annual Report
Appendix D: Industry Ratio Report
