Financial Accounting | Joe Ben Hoyle, C. J. Skender, and Leah Kratz

- 1What Is Financial Accounting, and Why Is It Important?
- 2What Should Decision Makers Know in Order to Make Good Decisions about an Organization?
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  - 2.1Creating a Portrait of an Organization That Can Be Used by Decision Makers
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  - 2.2Dealing with Uncertainty
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  - 2.3The Need for Accounting Standards
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  - 2.4Four Essential Terms Encountered in Financial Accounting
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  - 2.5End-of-Chapter Exercises
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- 3How Is Financial Information Delivered to Decision Makers Such as Investors and Creditors?
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  - 3.1Construction of Financial Statements Beginning with the Income Statement
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  - 3.2Reported Profitability and the Impact of Conservatism
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  - 3.3Increasing the Net Assets of a Company
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  - 3.4Reporting a Balance Sheet and a Statement of Cash Flows
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  - 3.5End-of-Chapter Exercises
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- 4How Does an Organization Accumulate and Organize the Information Necessary to Create Financial Statements?
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  - 4.1The Essential Role of Transaction Analysis
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  - 4.2Understanding the Effects Caused by Common Transactions
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  - 4.3Double-Entry Bookkeeping
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  - 4.4Recording Transactions Using Journal Entries
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  - 4.5Connecting the Journal to the Ledger
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  - 4.6End-of-Chapter Exercises
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- 5Why Is Financial Information Adjusted Prior to the Production of Financial Statements?
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  - 5.1The Need for Adjusting Entries
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  - 5.2Preparing Various Adjusting Entries
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  - 5.3Preparation of Financial Statements
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  - 5.4End-of-Chapter Exercises
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- 6Why Should Decision Makers Trust Financial Statements?
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  - 6.1The Need for the Securities and Exchange Commission
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  - 6.2The Role of the Independent Auditor in Financial Reporting
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  - 6.3Performing an Audit
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  - 6.4The Need for Internal Control
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  - 6.5The Purpose and Content of an Independent Auditor’s Report
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  - 6.6End-of-Chapter Exercises
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- 7In Financial Reporting, What Information Is Conveyed about Receivables?
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  - 7.1Accounts Receivable and Net Realizable Value
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  - 7.2Accounting for Uncollectible Accounts
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  - 7.3The Problem with Estimations
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  - 7.4The Actual Estimation of Uncollectible Accounts
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  - 7.5Reporting Foreign Currency Balances
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  - 7.6A Company’s Vital Signs—Accounts Receivable
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  - 7.7End-of-Chapter Exercises
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- 8How Does a Company Gather Information about Its Inventory?
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  - 8.1Determining and Reporting the Cost of Inventory
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  - 8.2Perpetual and Periodic Inventory Systems
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  - 8.3The Calculation of Cost of Goods Sold
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  - 8.4Reporting Inventory at Lower of Cost or Net Realizable Value
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  - 8.5Determining Inventory on Hand
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  - 8.6End-of-Chapter Exercises
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- 9Why Does a Company Need a Cost Flow Assumption in Reporting Inventory?
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  - 9.1The Necessity of Adopting a Cost Flow Assumption
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  - 9.2The Selection of a Cost Flow Assumption for Reporting Purposes
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  - 9.3Problems with Applying LIFO
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  - 9.4Merging Periodic and Perpetual Inventory Systems with a Cost Flow Assumption
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  - 9.5Applying LIFO and Averaging to Determine Reported Inventory Balances
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  - 9.6Analyzing Reported Inventory Figures
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  - 9.7End-of-Chapter Exercises
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- 10In a Set of Financial Statements, What Information Is Conveyed about Property and Equipment?
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  - 10.1The Reporting of Property and Equipment
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  - 10.2Determining Historical Cost and Depreciation Expense
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  - 10.3Recording Depreciation Expense for a Partial Year
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  - 10.4Alternative Depreciation Patterns and the Recording of a Wasting Asset
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  - 10.5Recording Asset Exchanges and Expenditures That Affect Older Assets
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  - 10.6Reporting Land Improvements and Impairments in the Value of Property and Equipment
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  - 10.7End-of-Chapter Exercises
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- 11In a Set of Financial Statements, What Information Is Conveyed about Intangible Assets?
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  - 11.1Identifying and Accounting for Intangible Assets
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  - 11.2Balance Sheet Reporting of Intangible Assets
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  - 11.3Recognizing Intangible Assets Owned by a Subsidiary
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  - 11.4Accounting for Research and Development
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  - 11.5Acquiring an Asset with Future Cash Payments
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  - 11.6End-of-Chapter Exercises
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- 12In a Set of Financial Statements, What Information Is Conveyed about Investments?
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  - 12.1Accounting for Investments in Equity Securities
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  - 12.2Accounting for Investments in Debt Securities
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  - 12.3Accounting for Investments by Means of the Equity Method
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  - 12.4Reporting Consolidated Financial Statements
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  - 12.5End-of-Chapter Exercises
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- 13In a Set of Financial Statements, What Information Is Conveyed about Current and Contingent Liabilities?
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  - 13.1The Basic Reporting of Liabilities
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  - 13.2Reporting Current Liabilities Such as Gift Cards
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  - 13.3Accounting for Contingencies
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  - 13.4Accounting for Product Warranties
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  - 13.5End-of-Chapter Exercises
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- 14In a Set of Financial Statements, What Information Is Conveyed about Noncurrent Liabilities Such as Bonds?
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  - 14.1Debt Financing
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  - 14.2Issuance of Notes and Bonds
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  - 14.3Accounting for Zero-Coupon Bonds
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  - 14.4Pricing and Reporting Term Bonds
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  - 14.5Issuing and Accounting for Serial Bonds
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  - 14.6Bonds with Other Than Annual Interest Payments
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  - 14.7End-of-Chapter Exercises
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- 15In a Set of Financial Statements, What Information Is Conveyed about Other Noncurrent Liabilities?
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  - 15.1Accounting for Leases
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  - 15.2Operating Leases versus Finance Leases
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  - 15.3Recognition of Deferred Income Taxes
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  - 15.4Reporting Postretirement Benefits
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  - 15.5End-of-Chapter Exercises
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- 16In a Set of Financial Statements, What Information Is Conveyed about Shareholders’ Equity?
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  - 16.1Selecting a Legal Form for a Business
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  - 16.2The Issuance of Common Stock
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  - 16.3Issuing and Accounting for Preferred Stock and Treasury Stock
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  - 16.4The Issuance of Cash and Stock Dividends
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  - 16.5The Computation of Earnings per Share
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  - 16.6End-of-Chapter Exercises
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- 17In a Set of Financial Statements, What Information Is Conveyed by the Statement of Cash Flows?
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  - 17.1The Structure of a Statement of Cash Flows
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  - 17.2Cash Flows from Operating Activities: The Direct Method
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  - 17.3Cash Flows from Operating Activities: The Indirect Method
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  - 17.4Cash Flows from Investing and Financing Activities
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  - 17.5Appendix: Comprehensive Illustration—Statement of Cash Flows
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  - 17.6End-of-Chapter Exercises
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- APresent Value Tables
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- BSummary of Ratios and Financial Indicators
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  - B.1Chapter 1
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  - B.2Chapter 3
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  - B.3Chapter 7
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  - B.4Chapter 9
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  - B.5Chapter 10
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  - B.6Chapter 12
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  - B.7Chapter 16
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  - B.8Chapter 13
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