Customer Reviews

Advanced Accounting (10th Edition)

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1 star:		(5)

 

 

As background for dissusion of the Beams "Advanced Accounting" text, 9th ed.: I took advanced accounting at one university last summer (which covered much of advanced accounting, but no accounting for not-for-profit organizations). Due to scheduling availability, I am taking advanced accounting at a different university this summer...this class WILL cover not-for-profit accounting issues, which is why I am taking it. We used the Hoyle, Schaefer, Doupnik "Advanced Accounting" 7th ed. text last year, and even though the concepts were difficult, the examples assisted greatly, and the text was clear, organized and without noticeable errors.

I wish the same could be said of the Beams "Advanced Accounting" 9th ed. Currently in my study of the fourth chapter, I find the text frequently wanders off topic, and contains surprising errors. For example, on page 106 (Chapt.4), it makes a math error ($30,000 - $1,500 x 80% = $22,500). My calculator indicates the answer should be $22,800. On page 107 it attributes a $93.5k elimination to "Entry b" described on page 106, when the amount actually belongs to "Entry c", described on the same page. This type of error requires the reader to perform a lot of additional work to get to the bottom of the information to be acquired. These are just two of the numerous issues I have uncovered in study of only four chapters. So far, the text compares poorly to the Hoyle, et. al. product, sadly, (which is why I am providing this warning) and I am not looking forward to the rest of the current summer semester!

Please, Prentice Hall, thoroughly review and edit this text before the next edition, and give students their money's worth.

I used this book as my self-study material and I benefited from this book a lot. I would recommend using it either as a textbook for Advanced Accounting course or as a reference book for professionals. Here are the few points that I would like to share with you:

1. Logical order The order to display the topics in this book is logical and consistent. This is important for self-study users. At the beginning of each chapter, there's always a paragraph or two summarize the main points that are going to present in the chapter. This gives the reader a whole picture.

2. Clear explanation and examples The book uses easy explanatory languages and the examples are very representative. Each example, the author is showing us every detail steps, so it is easy to follow.

3. Relevant exercises and problems. At the end of each chapter, there are questions that can help to reinforce the concepts. Most questions can be found directly from the material. There are also exercises and problems that are related to the topic presented in the chapter. I remember there is an accounting book I used before that the problems required more knowledge than the chapter actually covered. This not the case in this book. Some of the examples in the chapter could be used as quick reference while working on the problems, too.

The only thing I would recommend, if I need to find some, is that I hope there could be more real life issues mentioned in the book. In this way, readers can relate the knowledge to daily life even closer.

As a student I found this book's transaction examples to be somewhat limited. For instance, in the existing-foreign-currency-transaction hedge examples, both cash-flow and fair-value, only A/R adjustments are treated, there are no *buy side* transactions with A/P illustrated. There are also a lot of minor errors that are distracting.

The text is very didactic, constantly referencing entire quotes from the FASB, etc. such as on page 28:

We account for an investment in voting stock that gives the investor the ability to exercise significant influence over the financial and operating policies of the investee using the equity method of accounting. Paragraph 17 of APB Opinion No. 18 explains:

The Board concludes that the equity method of accounting for an investment in common stock should...be followed by an investor whose investment in voting stock gives it the ability to exercise significant influence over operating and financial policies of an investee even though the investor holds 50% or less of the voting stock.

The APB bases the ability to exert significant influence on a 20% ownership test:

An investment (direct or indirect) of 20% or more of the voting stock of an investor should lead to a presumption that in the absense of evidence to the contrary an investor has the ability to exercise significant influence over an investee. Conversely, an investment of less than 20% of the voting stock of an investee should lead to a presumption that an investor does not have the ability to exercise significant influence unless such ability can be demonstrated.

If I wanted to read APB Opinion No. 18, I would have looked it up myself. Why can't the author just write, "It is assumed that in an investment of 20%-50% of the voting stock an investor has the ability to exercise significant influence over the investee, unless evidence proves otherwise. Therefore, the equity method of accounting should be used."

I used this textbook for two of my accounting courses (Advanced Accounting and Governmental Accounting). In both classes, we experienced numerous errors within the solutions. Some chapters are easier than others and others are just horribly constructed. In the governmental section of the text, examples are difficult to follow which makes answering exercises and problems that much more difficult to solve. Bottom line, your professor makes all the difference; if they know what they are doing, it makes learning it easier.

This text should correct all the errors before it published.

Advanced Accounting (9th Edition) (Advanced Accounting)

This is a horribly written book. The answers to the exercises are really hard to find in the text. A book should not involve a deep thought process, as that should be saved for the exams. I don't think the author matched well with his questions and what he or she wrote in the book. There is too much history and news in it and not enough of "should know" things. The bottom line is that FASB does what it wants, who cares why, who cares when.... just tell me what it is.

This book does a horrible job at explaining the material if at all. The book is written for those that have taken advance accounting before and just need to freshen up on their skills. It's not for someone that is looking at advance accounting for the first time. Assumes you know what is being talked about and doesn't break the topics down step by step. I mean, you need to crawl before you learn how to walk right. Well this book expects you to walk right away. Don't buy this book if you don't have to unless you have lots of money to pay for a tutor to explain the material that the authors of this book so poorly explain. It's a waste of money.

it is a very good book actually, but i'm having some difficulties in solving the exercise, so i think this book need a complementary book or some kind of manual or solution. But if there is, I would like to be informed about where i can get that kind of book. Thank U!

The book was shipped and arrived when they said it would be and it was in great condition.