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Cover of Financial Accounting v3.0
July 2019
Page Count: 
ISBN (Digital): 

Financial Accounting

Version 3.0
By Joe Ben Hoyle, C. J. Skender, and Leah Kratz

Key Features

  • Employs carefully constructed headings phrased as questions to stimulate critical thinking skills and cover standard topics in a logical sequence.
  • Over 65 embedded, author-recorded videos lend a professional, engaging enhancement to online courses. Each chapter is introduced by a short video, additional videos explain key topics, and chapter-end video summaries that encourage students to prioritize what they have learned in the form of a “top-five” list.
  • Over 70 hyperlinks to additional videos and other web-based resources enhance online courses.
  • Periodic multiple-choice (“Test Yourself”) questions integrated throughout encourage learners to pause and confirm they are understanding the material.
  • Each chapter includes a discussion with a successful investment analyst to provide an open and honest assessment of a key topic based on a real-world perspective.
  • Periodic interviews with a partner from a large, international accounting firm provide insights into how international practices may influence U.S. standards and procedures.
  • Self-study PowerPoint-based slides are keyed to discrete chapter sections and reinforce material just read. Embedded audio files further enrich the online study experience. Can be uploaded to online courses, downloaded and distributed, or printed.
  • Online FlatWorld Homework system includes item variations and complex accounting problems.


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Financial Accounting, Version 3.0 is suitable for financial accounting courses at the undergraduate or MBA level.

Financial Accounting leverages an effective question-and-answer format to structure the narrative and engage students in a practical, inquiry-based form of learning. Carefully developed to follow the standard scope and sequence of the typical financial accounting course, this textbook encourages students to think like accountants, rather than simply memorize operations. Learners are exposed to the basic principles of financial accounting while also developing an appreciation for its importance and logic so they can make prudent business decisions.

New in This Version

  • New chapter-opening videos recorded by new coauthor, Leah Kratz.
  • Many of the real-world case examples that bring the book to life are refreshed or replaced.
  • Revised and increased the number of end-of-chapter items, culled dated questions, and generally upgraded item quality.
  • Updated coverage conforms to changes in the U.S. GAAP (e.g. revenue recognition, lease accounting, and equity marketable securities held for sale).
FlatWorld Homework System

FlatWorld Homework

FlatWorld Homework includes multi-format questions written specifically for your FlatWorld book, which you can access through our stand-alone interface or integrate with your learning management system.

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Instructor’s Manual

Instructor’s Manual

The Instructor’s Manual guides you through the main concepts of each chapter and important elements such as learning objectives, key terms, and key takeaways. Can include answers to chapter exercises, group activity suggestions, and discussion questions.

Instructor’s Manual

PowerPoint Lecture Notes

PowerPoint Lecture Notes

A PowerPoint presentation highlighting key learning objectives and the main concepts for each chapter are available for you to use in your classroom. You can either cut and paste sections or use the presentation as a whole.

PowerPoint Lecture Notes

Test Generator - powered by Cognero

Test Generator - powered by Cognero

FlatWorld has partnered with Cognero, a leading online assessment system, that allows you to create printable tests from FlatWorld provided content.

Test Bank Files for Import to Learning Management Systems

Test Bank Files for Import to Learning Management Systems

For your convenience, we've packaged our test items for easy import into Learning Management Systems like Blackboard, Brightspace/D2L, Canvas, Moodle, or Respondus.

Solutions Manual

Solutions Manual

For exercises that need a little more explanation, our Solutions Manual will take you step by step through solving the problem and offer explanations on the answer.

Solutions Manual

Test Item File

Test Item File

Need assistance in supplementing your quizzes and tests? Our test-item files (in Word format) contain many multiple-choice, fill-in-the-blank, and short-answer questions.

Other Supplements

Other Supplements

More than simple flash cards, adopters can download and share this robust study aid with students. These slides are keyed to discrete chapter sections and reinforce material just read. Many slides feature embedded audio files to further enhance the online study experience. These flash cards can be printed and used in paper form as well.

At FlatWorld, we take pride in providing a range of high-quality supplements alongside our titles, to help instructors teach effectively. Supplements are available for instructors who have registered their adoption with us. If you need to review or preview something specific, please contact us.

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Joe Ben Hoyle University of Richmond

Joe Hoyle is an Associate Professor of Accounting at the Robins School of Business at the University of Richmond. In 2006, he was named by Businessweek as one of 26 favorite undergraduate business professors in the United States. In 2007, he was selected as the Virginia Professor of the Year by the Carnegie Foundation for the Advancement of Teaching and the Council for the Advancement and Support of Education. In 2009, he was judged to be one of the 100 most influential members of the accounting profession by Accounting Today. In 2015, he was the inaugural recipient of the J. Michael and Mary Anne Cook Prize, recognized for consistently demonstrating the attributes of a superior teacher in the accounting discipline at an undergraduate level. Hoyle earned his BA degree in accounting from Duke University and his MA degree in business and economics, with a minor in education, from Appalachian State University. Hoyle also has three decades of experience operating his own CPA (Certified Public Accountant) Exam review programs. In 2008, he created CPA Review for Free (, which provides thousands of free questions to help accountants around the world prepare for the CPA Exam.

C. J. Skender University of North Carolina at Chapel Hill

C.J. Skender has received multiple teaching awards at the University of North Carolina's Kenan-Flagler Business School (10), at Duke University's Fuqua School of Business (5), and at North Carolina State University (5). He has been included among the outstanding Fuqua faculty in four editions of the Business Week Guide to the Best Business Schools. Skender also received the James M. Johnston Teaching Excellence Award at the University of North Carolina in 2005. His classes were featured in and in 2006. Skender has served as a training consultant on three continents for Glaxo Wellcome, IBM, Nortel Networks, Paragon Trade Brands, Siemens, Starwood, and Wells Fargo. Skender holds academic degrees from Lehigh University and Duke University. He attended Lehigh on a basketball scholarship and graduated magna cum laude. He has attained eleven professional designations in accounting, financial planning, insurance, and management: CPA (Certified Public Accountant), CMA (Certified Management Accountant), CCA (Certified Cost Analyst), CIA (Certified Internal Auditor), ChFC (Chartered Financial Consultant), CLU (Chartered Life Underwriter), CFP (Certified Financial Planner), AIAF (Associate in Insurance Accounting and Finance), CFE (Certified Fraud Examiner), CFM (Certified in Financial Management), and CBM (Certified Business Manager).

Leah Kratz James Madison University

Leah Kratz, CPA, MBA teaches a variety of accounting courses including financial, intermediate, cost, tax, and auditing. Leah earned her undergraduate degree in accounting at Eastern Mennonite University and her MBA at James Madison University. Her work experience includes public accounting and government work, including the Assistant Fiscal Director of Woodrow Wilson Rehabilitation Center for the Commonwealth of Virginia. Leah lives in Harrisonburg, VA with her husband, Jeremy and their four children, Madeleine, Sophia, Anderson, and Nolan. In her spare time Leah enjoys travel, cooking, working in her flowerbeds, reading, hiking, and biking.

Additions & Errata

The following corrections have been made and are reflected in the online reader.

Chapter 3, section 5, Multiple-Choice Question 28:

28.    Giles Corporation borrowed $675,000 from Midwest Bank during the year. In which section will this event be reported on Giles’s statement of cash flows?

Operating activities
Investing activities
Financing activities
It would not be reported on the statement of cash flows


Chapter 3, Section 5, Problems, Question 23 Table has been updated: 

Prepaid Insurance
Note Payable Due Two Years from Now (Loan from Mom)
Capital Stock (Money You Invested to Start Business)
Accounts Receivable
Supplies Inventory
Accounts Payable
Retained Earnings, 12/31

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