Financial Accounting

Topics: Balance sheet, Income statement, Cash flow statement Pages: 26 (1510 words) Published: September 30, 2013
I

Brief Contents
3

Chapter

1

Introducing Financial Accounting

Chapter

2

Constructing Financial Statements

Chapter

3

Adjusting Accounts for Financial Statements

Chapter

4

Reporting and Analyzing Cash Flows

Chapter

5

Analyzing and Interpreting Financial Statements

Chapter

6

Reporting and Analyzing Revenues and Receivables

Chapter

7

Reporting and Analyzing Inventory

Chapter

8

Reporting and Analyzing Long-Term Operating Assets

Chapter

9

Reporting and Analyzing Liabilities

Chapter

10

Reporting and Analyzing Leases, Pensions, and Income Taxes

Chapter

11

Reporting and Analyzing Stockholders' Equity

Chapter

12 Reporting and Analyzing Intercorporate Investments

Appendix A:

Time-Value of Money
Glossary
Index

39
95

151
205
257

305
351

389
435

489
537

592

601

611

xiii

I Index
AbouttheAuthors
Preface iv
BriefContents xiii

Key Terms 28
Multiple Choice 29
Discussion Questions 29
Mini Exercises 30
Exercises 31
Problems 32
Cases and Projects 34
Solutions to Review Problems

iii

Chapter

1

36

Introducing Financial
Accounting 3
Nike 3

Demand for Accounting Information 4
Who Uses FinancialAccounting Information? 5
Costs and Benefits of Disclosure 7
Business Activities 7
PlanningActivities 8
Investing Activities 8
Financing Activities 9
Operating Activities 10
Financial statements
11
Balance Sheet 12
Income statement 12
statement of stockholders' Equity 13
statement of Cash Flows 14
Financialstatement Linkages 15
Information Beyond FinancialStatements 15
Mid-Chapter Review 16
Financial Reporting Environment 17
Generally Accepted Accounting Principles 17
RegUlationand Oversight 18
Role of the Auditor 19
A Global Perspective 20
Financial statement Analysis 20
ProfitabilityAnalysis 21
CredITRiskAnalysis 22
Chapter-End Review 23
Appendix 1A: Conceptual Framework for Financial
Reporting 23
Objectives of FinancialReporting 23
Oualitative Characteristics of Accounting
Information 24
Summary 26
Underiying Assumptions 26
Guidance Answers ... You Make the Call
Key Ratios 28
xiv

27

Chapter

2

Constructing Financial
Statements 39
Walgreens 39

Reporting Financial Condition
Assets 40
Liabilitiesand Equity 43
Mid-Chapter Review 1 45

40

Analyzing and Recording Transactions for the
Balance Sheet 45
Mid-Chapter Review 2 49
Reporting Financial Performance

49

Accrual Accounting for Revenues and
Expenses 50
Retained Earnings 52
Analyzing and Recording Transactions for the
Income Statement 52
Reporting on EqUity 56
Analyzing and Recording EqUityTransactions
statement of Stockholders' EqUity 56
Mid-Chapter Review 3 57
Journalizing and Posting Transactions
T-Account 58
Debit and Credit System

57

58

T -Accounr with Debits and Credits
The Journal Entry 59

59

Analyze, Journalize, and Post 60
Financial Statement AnalysiS 67
Assessing liqUidity 67
Chapter-End ReView 68
GUidance Answers ... You Make the Call
Key Ratios 70
Key Terms 70

70

56

Contents

Multiple Choice 71
Discussion Questions
71
Mini Exercises
72
Exercises 75
Problems 80
Cases and Projects 88
Solutions to Review Problems

Chapter

3

Adjusting Accounts for
Financial Statements
95
Walgreens

95

Accounting Cycie 96
Analyzing and Recording Transactions
Review of Accounting Procedures
Review of Recording Transactions

97
97
97

Adjusting the Accounts
103
Preparing an Unadjusted Trial Balance

104

Mid-Chapter Review 111
Constructing Financial Statements from Adjusted
Accounts
112
Preparing an Adjusted Trial Balance 112
Preparing Financial Statements 112
Closing Process 117
Closing Steps Illustrated 117
Preparing a Post-Closing Trial Balance 118
Summarizing the Accounting Cycle 119
Financial Statement Analysis 119
Using Information on Levels and Flows 119
Chapter-End Review...
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