Financial Accounting : Information for Decisions (with Xtra CD-ROM),9780324313413

Financial Accounting : Information for Decisions (with Xtra CD-ROM)

by ;
Edition: 6th
ISBN13: 9780324313413
ISBN10: 0324313411
Format: Hardcover
Pub. Date: 2006-01-06
Publisher(s): South-Western College Pub
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List Price: $314.95

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Summary

ACCOUNTING: INFORMATION FOR DECISIONS, 6th is proud to define excellence in its approach to Financial Accounting. Clearly illustrating that accounting is the language of business, all students will be able to drive excellence in their own careers when they start with this strong foundation. This innovative approach continues to provide direction to students who choose accounting careers, and to those who progress through their careers as business managers. The streamlined new design of the 6th edition provides a clear, concise, and directional learning path so students will easily navigate their way through the material and enhance their learning experience with clear connections to topics in the book and issues in the workforce. Recent news headlines indicate that the coverage of ethics has never been more important - especially in Accounting. The 6th edition highlights ethical dilemmas and challenges students to think about what they would do when faced with these issues. In addition, updates on the impact of the Sarbanes-Oxley Act have also been included.

Table of Contents

Section 1 The Accounting Information System
1(280)
Accounting and Organizations
2(42)
Information for Decisions
3(2)
The Purpose of Organizations
5(4)
Transformation of Resources
6(1)
Creating Value
7(2)
The Role of Accounting in Business Organizations
9(2)
The Structure of Business Organizations
11(5)
Business Ownership
11(1)
Management of Corporations
12(1)
Advantages of Corporations
13(1)
Disadvantages of Corporations
14(1)
Creditors
14(2)
Accounting and Business Decisions
16(4)
Risk and Return
17(3)
The Regulatory Environment of Accounting
20(2)
The Importance of Ethics
22(1)
Appendix---A Short Introduction to Excel
23(21)
Identifying and Selecting Cells
23(1)
Referencing and Mathematical Operations
24(1)
Copying Cell Contents
24(1)
Changing Column Widths
25(1)
Menus
25(1)
Buttons
25(19)
Business Activities---The Source of Accounting Information
44(38)
Financing Activities
45(1)
Accounting for Business Activities
46(2)
Investing Activities
48(2)
Operating Activities
50(4)
Financial Reporting and Analysis
54(6)
The Income Statement
54(2)
The Balance Sheet
56(1)
The Statement of Cash Flows
56(1)
The Transformation Process
57(1)
Financial Analysis
58(2)
Appendix---Debits and Credits: Another Way to Record Transactions
60(22)
Measuring Revenues and Expenses
82(46)
Accrual Accounting
83(1)
Revenue Transactions
84(3)
Expense Transactions
87(3)
Adjusting Account Balances
90(3)
Ledger Accounts
93(1)
Closing Entries and Financial Statements
94(6)
Summary of Account Balances
94(1)
Income Statement
95(1)
Closing Entries
95(3)
Payments to Owners
98(1)
Post-Closing Account Balances
98(1)
Balance Sheet
98(2)
Statement of Cash Flows
100(1)
Summary of Accounting Cycle
100(1)
Accounting and Ethics
100(28)
Reporting Earnings and Financial Position
128(48)
The Purpose of Financial Statements
129(1)
The Income Statement
130(5)
Gross Profit
131(1)
Operating Income
131(1)
Other Revenues and Expenses
132(1)
Income Taxes
132(1)
Net Income
132(1)
Earnings Per Share
132(1)
Other Reporting Issues
133(2)
The Balance Sheet
135(3)
Current Assets
136(1)
Property and Equipment
136(1)
Liabilities
136(1)
Stockholders' Equity
137(1)
Other Balance Sheet Content
138(3)
Other Current Assets
138(1)
Other Long-Term Assets
138(1)
Other Current Liabilities
139(1)
Other Long-Term Liabilities
139(1)
Stockholders' Equity and Comprehensive Income
139(2)
The Statement of Stockholders' Equity
141(1)
Use of Financial Statements
142(34)
Interrelationships among Financial Statements
142(1)
Limitations of Financial Statements
142(34)
Reporting Cash Flows
176(43)
The Statement of Cash Flows
177(1)
The Direct Format
177(5)
Operating Activities
178(2)
Investing Activities
180(1)
Financing Activities
181(1)
The Indirect Format
182(4)
Interpreting Cash Flows
186(33)
Full and Fair Reporting
219(35)
The Purpose of Accounting Regulation
220(6)
Sources of Accounting Regulation
221(5)
Creating Accounting Standards
226(2)
Standard-Setting Organizations
226(1)
The Standard-Setting Process
227(1)
The FASB's Conceptual Framework
227(1)
Disclosure and Fair Representation
228(7)
Summary Business Data
229(1)
Management's Discussion and Analysis
229(2)
Notes to the Financial Statements
231(1)
The Auditors' Report
232(2)
Report of Management Responsibilities
234(1)
Internal Controls
235(3)
Management Philosophy
236(1)
Business Ethics
236(1)
Computer System Controls
236(2)
Human Resources Controls
238(1)
Physical Controls
238(1)
Conclusion
238(1)
The Responsibilities of Accountants
238(16)
Computerized Accounting Systems
254(27)
Components of a Computerized Accounting System
255(2)
Data Processing in a Computerized System
257(3)
Accounting System Modules
260(4)
The Sales Module
260(1)
The Purchasing and Inventory Management Module
261(2)
The Human Resources Module
263(1)
The Production Module
263(1)
The Structure of Accounting Systems
264(2)
An Illustration of an Accounting System
266(15)
Copying and Opening the Database
267(1)
Database Contents
267(1)
Tables
267(1)
Entering Transactions
268(1)
Sales Orders
268(1)
Shipping Information
269(1)
Receiving Goods
270(1)
Billing Customers
270(1)
Reporting Sales and Income
271(1)
Cash Receipts and Accounts Receivable
271(1)
Summary
271(10)
Section 2 Analysis and Interpretation of Financial Accounting Information
281(284)
The Time Value of Money
282(35)
Future Value
283(7)
Compound Interest
284(2)
Future Value of an Annuity
286(4)
Present Value
290(4)
Present Value of an Annuity
292(2)
Loan Payments and Amortization
294(4)
Unequal Payments
298(1)
Combining Single Amounts and Annuities
299(1)
Summary of Future and Present Value Concepts
299(18)
Financing Activities
317(43)
Types of Obligations
318(1)
Debt Obligations
319(6)
Short-Term Debt
319(1)
Long-Term Debt
319(2)
Debt Transactions
321(4)
Financial Reporting of Debt
325(1)
Other Obligations
326(3)
Contingencies
326(1)
Commitments
327(1)
Capital Leases
328(1)
Stockholders' Equity
329(3)
Contributed Capital
330(1)
Retained Earnings
331(1)
Changes in Stockholders' Equity
332(3)
Equity Transactions
333(1)
Cash Dividends
334(1)
Issuing New Stock
334(1)
Stock Dividends
334(1)
Preferred Stock
335(2)
International Reporting of Financing Activities
337(1)
Other Related Topics
337(23)
Stock Options
338(1)
Noncontrolling Interest
338(1)
Appropriation of Retained Earnings
338(1)
Foreign Currency Adjustments
338(22)
Analysis of Financing Activities
360(40)
Financing Decisions
361(5)
Capital Structure Decisions
361(2)
The Effect of Financial Leverage
363(3)
Effects of Financing Decisions on Cash Flow and Liquidity
366(1)
Dividend Decisions
366(1)
Other Financing Alternatives
367(1)
Interpretation of Financing Activities
367(2)
A General Overview
368(1)
Comparing Capital Structures
369(1)
The Effect of Financial Leverage on Risk and Return
369(2)
Other Risk Considerations
371(2)
Financing Activities and Company Value
373(27)
Investing Activities
400(44)
Types of Assets
401(1)
Property, Plant, and Equipment
402(8)
Plant Asset Cost
403(1)
Depreciation
404(5)
Disposing of Plant Assets
409(1)
Natural Resources
410(1)
Long-Term and Short-Term Investments
411(5)
Types of Securities
411(1)
Held-To-Maturity Securities
412(1)
Trading Securities and Available-for-Sale Securities---Investments in Debt
413(1)
Trading Securities and Available-for-Sale Securities---Investments in Equity
414(2)
Short-Term Investments
416(1)
Intangible Assets
416(1)
Other Long-Term Assets
417(1)
Financial Reporting of Investing Activities
418(1)
Other Investment Issues
419(25)
Equity Method
420(1)
Consolidations
421(23)
Analysis of Investing Activities
444(32)
Investing Decisions
445(6)
Investment Decisions and Profit
446(2)
Investment Decisions and Risk
448(3)
Interpretation of Investing Activities
451(4)
Identifying Investing Activities
451(1)
The Importance of Asset Growth
452(1)
Measuring the Effects of Growth
452(3)
The Effect of Investment on Effectiveness and Efficiency
455(1)
Investing Activities and Creditor Decisions
456(20)
Operating Activities
476(51)
Basic Operating Activities
477(1)
Revenues and Receivables
478(6)
Recognizing Revenue for Long-Term Contracts
478(1)
Sales Discounts and Returns
479(2)
Uncollectible Accounts
481(2)
Warranty Costs
483(1)
Inventories and Cost of Goods Sold
484(4)
Reporting Inventories and Cost of Goods Sold
484(4)
Measuring Inventory
488(7)
Perpetual and Periodic Inventory Methods
489(3)
Inventory Estimation and Income Taxes
492(2)
Comparing Inventory Costs among Companies
494(1)
Other Operating Activities and Income Statement Items
495(4)
Operating Expenses
496(1)
Other Revenues and Expenses
497(1)
Income Taxes
497(1)
Nonrecurring Gains and Losses
497(2)
Other Topics
499(28)
Equity Income
499(1)
Noncontrolling Interest in Income
499(1)
Deferred Compensation
500(27)
Analysis of Operating Activities
527(38)
Operating Decisions
528(1)
Developing an Operating Strategy
529(3)
Interpretation of Operating Activities
532(5)
Cost Leadership and Product Differentiation Strategies
532(1)
Comparing Accrual and Cash Flow Measures of Operating Performance
533(1)
Further Evaluation of Operating Strategy
534(2)
Linking Operating and Investing Activities with Financing Activities
536(1)
The Big Picture
537(28)
Appendix A General Mills, Inc. 2004 Annual Report Excerpts 565(24)
Appendix B Sources of Information about Companies and Industries 589(4)
Glossary 593(6)
Index 599

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