Financial Accounting,9780324222975

Financial Accounting

by
Edition: 11th
ISBN13: 9780324222975
ISBN10: 0324222971
Format: Hardcover
Pub. Date: 2005-01-05
Publisher(s): Cengage Learning
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Summary

This widely respected financial accounting text captures the predominant market share among graduate, MBA, and higher-level undergraduate programs. With great clarity, it presents both the basic concepts underlying financial statements and the terminology and methods that allow students to interpret, analyze, and evaluate actual corporate financial statements.

Table of Contents

Preface vii
Part 1 Overview of Financial Statements
1(36)
Introduction to Business Activities and Overview of Financial Statements and the Reporting Process
2(35)
Overview of Business Activities
3(3)
Principal Financial Statements
6(8)
Problem 1.1 for Self-Study
14(1)
Other Items in Annual Reports
15(2)
Financial Reporting Issues
17(4)
The Financial Reporting Process in the United States
21(2)
An International Perspective
23(1)
Summary
23(1)
Solution to Self-Study Problem
24(1)
Key Terms and Concepts
25(1)
Questions, Short Exercises, Exercises, Problems, and Cases
26(11)
Part 2 Accounting Concepts and Methods
37(212)
Balance Sheet: Presenting the Investments and Financing of a Firm
38(54)
Underlying Concepts
39(6)
Problem 2.1 for Self-Study
45(3)
Problem 2.2 for Self-Study
48(1)
Accounting Procedures for Preparing the Balance Sheet
49(2)
Problem 2.3 for Self-Study
51(5)
Problem 2.4 for Self-Study
56(1)
Problem 2.5 for Self-Study
57(1)
Balance Sheet Account Titles
57(3)
Problem 2.6 for Self-Study
60(1)
Analysis of the Balance Sheet
61(3)
An International Perspective
64(4)
Summary
68(1)
Solutions to Self-Study Problems
69(4)
Key Terms and Concepts
73(1)
Questions, Short Exercises, Exercises, Problems, and Cases
73(19)
Income Statement: Reporting the Results of Operating Activities
92(46)
The Accounting Period Convention
93(1)
Accounting Methods for Measuring Performance
94(5)
Problem 3.1 for Self-Study
99(1)
Measurement Principles of Accrual Accounting
99(3)
Problem 3.2 for Self-Study
102(1)
Accounting Procedures for Preparing the Income Statement
102(7)
Problem 3.3 for Self-Study
109(1)
Interpreting and Analyzing the Income Statement
110(2)
Summary
112(1)
Solutions to Self-Study Problems
113(4)
Key Terms and Concepts
117(1)
Questions, Short Exercises, Exercises, Problems, and Cases
117(21)
Statement of Cash Flows: Reporting the Effects of Operating, Investing, and Financing Activities on Cash Flows
138(48)
Need for a Statement of Cash Flows
139(1)
Overview of the Statement of Cash Flows
140(4)
Problem 4.1 for Self-Study
144(1)
Preparing the Statement of Cash Flows
145(7)
Problem 4.2 for Self-Study
152(1)
Problem 4.3 for Self-Study
153(1)
An International Perspective
154(1)
Problem 4.4 for Self-Study
154(1)
Problem 4.5 for Self-Study
155(1)
Using Information in the Statement of Cash Flows
156(2)
Ethical Issues and the Statement of Cash Flows
158(1)
Summary
159(1)
Problem 4.6 for Self-Study
159(1)
Solutions to Self-Study Problems
160(6)
Key Terms and Concepts
166(1)
Questions, Short Exercises, Exercises, Problems, and Cases
166(20)
Introduction to Financial Statement Analysis
186(63)
Objectives of Financial Statement Analysis
188(3)
Analysis of Profitability
191(7)
Problem 5.1 for Self-Study
198(7)
Problem 5.2 for Self-Study
205(1)
Analysis of Risk
206(4)
Problem 5.3 for Self-Study
210(2)
Problem 5.4 for Self-Study
212(1)
Limitations of Ratio Analysis
213(1)
An International Perspective
213(1)
Summary
214(1)
Problem 5.5 for Self-Study
215(2)
Appendix 5.1: Pro Forma Financial Statements and Valuation
217(10)
Solutions to Self-Study Problems
227(3)
Key Terms and Concepts
230(1)
Questions, Short Exercises, Exercises, Problems, and Cases
230(19)
Part 3 Measuring and Reporting Assets and Equities Using Generally Accepted Accounting Principles
249(333)
Receivables and Revenue Recognition
250(44)
Financial Reporting Environment
251(2)
Quality of Earnings
253(1)
Review of Income Recognition Principles
254(2)
Application of Income Recognition Principles
256(1)
Problem 6.1 for Self-Study
257(1)
Revenue Recognition at Time of Sale
257(9)
Problem 6.2 for Self-Study
266(2)
Analyzing Information on Accounts Receivable
268(1)
Income Recognition at Times Different from Sale
269(4)
Summary Illustration of Income Recognition Methods
273(2)
Problem 6.3 for Self-Study
275(1)
Format and Classification within the Income Statement
275(2)
An International Perspective
277(1)
Summary
277(1)
Appendix 6.1: Effects on the Statement of Cash Flows on Transactions Involving Accounts Receivable
278(1)
Solutions to Self-Study Problems
279(2)
Key Terms and Concepts
281(1)
Questions, Short Exercises, Exercises, Problems, and Cases
282(12)
Inventories: The Source of Operating Profits
294(42)
A Review of Fundamentals
295(2)
Issue 1: Costs Included in Inventory
297(4)
Problem 7.1 for Self-Study
301(1)
Issue 2: Valuation Subsequent to Acquisition
302(2)
Issue 3: Cost Flow Assumptions
304(4)
Problem 7.2 for Self-Study
308(3)
Problem 7.3 for Self-Study
311(1)
Analyzing Inventory disclosures
312(3)
Problem 7.4 for Self-Study
315(1)
Problem 7.5 for Self-Study
316(1)
An International Perspective
316(1)
Summary
317(1)
Appendix 7.1: Effects on the Statement of Cash Flows of Transactions Involving Inventory
317(1)
Solutions to Self-Study Problems
318(3)
Key Terms and Concepts
321(1)
Questions, Short Exercises, Exercises, Problems, and Cases
322(14)
Long-Lived Tangible and Intangible Assets: The Source of Operating Capacity
336(48)
Capitalization versus Immediate Expensing
338(3)
Measurement of Acpuisition Cost
341(2)
Problem 8.1 for Self-Study
343(1)
Treatment of Acquisition Cost Over Life of Asset
344(1)
Depreciation and Amortization: Fundamental Concepts
345(1)
Depreciation and Amortization: Measurement
346(6)
Problem 8.2 for Self-Study
352(1)
Impact of New Information about Long-Lived Assets
353(2)
Problem 8.3 for Self-Study
355(1)
Problem 8.4 for Self-Study
356(4)
Problem 8.5 for Self-Study
360(1)
Retirement of Assets
360(1)
Financial Statement Presentation
361(1)
Analyzing Financial Statement Disclosures of Long-Lived Assets
362(3)
Problem 8.6 for Self-Study
365(1)
An International Perspective
365(1)
Summary
366(1)
Appendix 8.1: Effects on the Statement of Cash Flows of Transactions Involving Long-Lived Tangible and Intangible Assets
367(2)
Solutions to Self-Study Problems
369(2)
Key Terms and Concepts
371(1)
Questions, Short Exercises, Exercises, Problems, and Cases
371(13)
Liabilities: Introduction
384(52)
Basic Concepts of Liabilities
386(5)
Current Liabilities
391(3)
Problem 9.1 for Self-Study
394(1)
Long-Term Liabilities
394(4)
Problem 9.2 for Self-Study
398(2)
Problem 9.3 for Self-Study
400(6)
Problem 9.4 for Self-Study
406(5)
Problem 9.5 for Self-Study
411(3)
Problem 9.6 for Self-Study
414(1)
Summary
415(1)
Appendix 9.1: Effects on the Statement of Cash Flows of Transactions Involving Long-Term Liabilities
415(1)
Solutions to Self-Study Problems
416(8)
Key Terms and Concepts
424(1)
Questions, Short Exercises, Exercises, Problems, and Cases
424(12)
Liabilities: Off-Balance-Sheet Financing, Leases, Deferred Income Taxes, Retirement Benefits
436(40)
Off-Balance-Sheet Financing
437(3)
Problem 10.1 for Self-Study
440(1)
Leases
441(6)
Problem 10.2 for Self-Study
447(1)
Income Tax Accounting and Deferred Income Taxes
447(4)
Problem 10.3 for Self-Study
451(1)
Problem 10.4 for Self-Study
452(3)
Deferred Compensation: Pension Benefits and Other Deferred Compensation
455(2)
Deferred Compensation: Health Care and Other Benefits
457(1)
An International Perspective
457(1)
Summary
457(1)
Appendix 10.1: Effects on the Statement of Cash Flows of Transactions Involving Liabilities
457(1)
Solutions to Self-Study Problems
458(5)
Key Terms and Concepts
463(1)
Questions, Short Exercises, Exercises, Problems, and Cases
463(13)
Marketable Securities, Derivatives, and Investments
476(54)
Overview of the Accounting and Reporting of Investments in Securities
477(2)
Minority, Passive Investments
479(1)
Problem 11.1 for Self-Study
480(5)
Problem 11.2 for Self-Study
485(2)
Derivative Instruments
487(4)
Dealing with Uncertainty with Measurement, Not Recognition
491(1)
Minority, Active Investments
492(3)
Problem 11.3 for Self-Study
495(1)
Majority, Active Investments
495(2)
Problem 11.4 for Self-Study
497(6)
Problem 11.5 for Self-Study
503(2)
An International Perspective
505(1)
Summary
505(3)
Appendix 11.1: Effects on the Statment of Cash Flows of Investments in Securities
508(1)
Solutions to Self-Study Problems
509(4)
Key Terms and Concepts
513(1)
Questions, Short Exercises, Exercises, Problems, and Cases
514(16)
Shareholders' Equity: Capital Contributions, Distributions, and Earnings
530(52)
Capital Contributions
533(1)
Issuing Capital Stock
534(7)
Problem 12.1 for Self-Study
541(1)
Corporate Distributions
542(3)
Problem 12.2 for Self-Study
545(2)
Problem 12.3 for Self-Study
547(1)
Reporting Earnings Transactions
547(10)
Problem 12.4 for Self-Study
557(1)
Earnings and Book Value per Share
557(1)
An International Perspective
558(1)
Disclosure of Changes in Shareholders' Equity
559(7)
Summary
566(1)
Appendix 12.1: Effects on the Statement of Cash Flows of Transactions Involving Shareholders' Equity
566(1)
Solutions to Self-Study Problems
567(3)
Key Terms and Concepts
570(1)
Questions, Short Exercises, Exercises, Problems, and Cases
570(12)
Appendix 582(21)
Compound Interest, Annuity, and Bond Tables 603(8)
Glossary 611(84)
Index 695

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