Robert Libby , Patricia Libby , Frank Hodge
This book was written by Libby, Libby, and Hodge on the basis of their belief that the topic of financial accounting is inherently interesting, but that textbooks on financial accounting are not always interesting. They believe that the majority of financial accounting textbooks fail to convey the message that accounting is an interesting field of study that will be useful in a variety of business-related careers in the future. When they were writing this text, they used career relevance as a guide to select material, and the need to engage the student as a guide for how the text should be written, how it should be taught, and how it should be designed.
In each and every chapter, Libby/Libby/Hodge successfully implements an approach that has a single focus on a real-world company. Both the students and the teachers have given very positive feedback regarding the utilization of focus companies as well as the real-world financial statements. Regardless of whether or not the student intends to major in accounting, the companies that were selected are interesting, and the decision-making focus demonstrates how relevant financial accounting is in today's business world.
When it comes to instructing transaction analysis, Libby/Libby/Hodge is a proponent of the building-block approach. The vast majority of accounting professors are in agreement that a solid understanding of the accounting cycle is essential to achieving success in the field of financial accounting. However, every other book on finance only devotes one chapter to the development of transaction analysis, meaning that students are thrown into the deep end with an overwhelming amount of new ideas and jargon early on in the course. The authors of this book are of the opinion that most professors spend more time on the accounting cycle than is typical in other financial accounting textbooks. This approach to teaching accounting, known as the building-block method, leads to greater student success in their studies of later topics in financial accounting, such as adjusting entries, because it introduces transactions at a slower pace and allows students more time to practice and gain mastery of the material.