Product Description

The bestselling book on intermediate accounting, Kieso is an excellent reference for practicing accountants and an invaluable resource for anyone entering the field. It integrates FARS/Codification exercises, cases, and simulations into the chapters. This introduces readers to the codification project. They’ll learn how to leverage everyday accounting programs like Excel, GLS, and other computerized accounting software giving them a strong background in the tools needed in the accounting profession. New and existing content is arranged in a way to offer accountants a chance to review key concepts.

New to This Edition:

·         NEW IFRS content: Intermediate Accounting, 13e, includes, in 20 of the 24 chapters, a “Convergence Corner” feature that demonstrates to readers how international financial reporting standards apply to the main topics of the chapter.
* Updated Appendix 24B provides a complete discussion of the international accounting and reporting environment, with the latest convergence developments.
* Quick-hitting International Insights in the margins compare or contrast international standards with a point under discussion in the nearby text.
* New end-of-chapter Questions in each chapter focus on international standards introduced in the chapter.  These questions are marked with an icon for easy reference.
* International Reporting Cases ask readers to analyze financial statements of international companies and apply analysis with the application of international standards.

·         Updated Fair Value discussions: Fair value has been expanded at both the introductory level in Chapter 2 and in subsequent chapters where appropriate. The more thorough discussion in Chapter 2 lays the groundwork for expanded discussions in later chapters. The result is a solid understanding of fair value in the accounting profession today.

·         FASB Codification: This edition integrates the new FASB Codification throughout. References to the accounting pronouncements replaced by a numbering system in each chapter linked to the new Codification. A list of Codification references at the end of each chapter links the bracketed numbers from the text to the Codification; this list also includes a reference to the preceding literature, for easing the transition to the new system. In addition, a handful of quick exercises in each chapter give readers opportunities for practice and simple research in the Codification.

·         Revised End-of-Chapter Material: Names, numbers, and dates in all end-of-chapter materials, including brief exercises and problems, have been changed.

·         Expanded CPA-prep Professional Simulations: Now be offering a complete online Wiley CPA prep course electronically.

·         Updated real-world focus:   This edition contains many new chapter-opening stories and “What Do the Numbers Mean?” boxes. Such applications join theory and practice, and demonstrate to readers the use of accounting in today’s business world. 

Product Details

• Amazon Sales Rank: #269 in Books
• Published on: 2009-03-23
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 1440 pages

Customer Reviews

The Age-Old Kieso Problem
Except for having to buy it new, there are reasons to like the Kieso series including this 13th edition of Intermediate Accounting, which is really Financial Accounting II. These authors have done everything to make the subject progressively more accessible in each edition. I know as I suffered through the courses once too. I have a master's in accounting and am a CPA. It's surprising how many accounting texts assume the student has certain prerequisite skills and knowledge and equally surprising how so many accounting professors want to lecture on what enhances their knowledge base instead of teaching to the student. The Kieso books are really teaching books. I buy used recent editions for myself just for reference since they're so well done and so cheap. Not all CPAs do that but I practice financial accounting.

You'll be lucky if the professor is permissive enough to go with an older series because most students quickly sell these books once the course is over, so used editions are MUCH cheaper. But most professors insist on the most recent edition. I think they're motivated because their authority rests on being up to date. In this 13th edition, there's a big emphasis on International Accounting Standards, and you can be sure the professors want to bone up on this themselves. The financial meltdown has discredited the whole U.S. financial complex, and one result is that the pull is now stronger toward international accounting standards rather than U.S. GAAP. Also, the authors anticipate that everyone wants to use the cheaper previous edition, so they always change the end of chapter problems. The publisher also provides the professors with additional materials including exam materials, so there's always the incentive for the professor to use the latest edition and claim that it's the only acceptable one due to the end of chapter problems.

These are really heavy books - no fun to carry around. The book weighs 6.2 pounds. That's ridiculous. 1,440 pages and you darn well have to know this material. This gives a hint why so many people, despite knowing that good accountants tend to stay employed in a recession, won't even consider this route. But at least the Kieso books, other than their workbooks, are hardcover with large dimensions and quality paper and binding. Nothing is worse than using a thick softcover text that feels like a phone book. Unfortunately they're expensive new, and you might one day be buying the 18th edition used for a fraction of this price.

Note, if you need the WileyPlus access code, it is NOT included with this book. If your professor makes you get the code, you've got to spend even more money. You get this access code at the Wileyplus website. A kind student emailed me that the code now costs $83.50 at the site. Wiley also puts in place separate deals with some but not all college bookstores, although then the prices vary a lot at the college bookstore level. Sometimes, depending on how the professor intends to use the WileyPlus resource, you might just ask the professor and get the code, but those cases are rare.

A word of caution and encouragement: This Intermediate Accounting course along with the first one, Financial Accounting, are the two that were traditionally used to weed out students from becoming accounting majors. You've got to spend a lot more time on this course than you usually would for a typical course. Good luck - I wish you the best!

Intermediate Failure
I thought this accounting book was awful. The book doesn't provide enough examples, surprises you with unique problems which haven't been covered ever in the chapters, doesn't even provide a glossary or a list of key figures to check your work. So basically the fundamentals of any regular educational book are absent from this. This is basically the Detroit Lions of accounting books. Keiso and Co. are now 0-13.

Excellent Concept Presentation - Substandard Application
As an honor accounting student, I rate this book as average, at best. The text book does an excellent job in thoroughly addressing accounting concepts; however, it provides few, if any, problem solving examples of the application of accounting concepts discussed chapters. I credit the writers with making the subject content interesting (as much as accounting can be), understandable, and for its comprehensive coverage of accounting concepts.

On the flip side, however, the text is one of the worst accounting books I have ever used in terms of providing adequate examples of problem application of concepts. In some instances while working chapter problems, I noticed that a few chapter problems included aspects of accounting that were not discussed in the chapter or in previous chapters (i.e. a chapter or two ahead of the chapter under study). Chapters 10, 11, and 12, which address accounting issues related to property, plant and equipment, depreciation, and intangibles were grossly lacking in examples that students could refer back to while trying to solve end of chapter problems.

With the above being said, I feel the text book was written in a manner that makes the material interesting and understandable to the reader, however, since it lacks sufficient examples of the application of concepts, it is geared more so for professors and accounting professionals than students trying to learn the application of concepts.