Survey of Accounting
John Wiley & Sons Inc (Verlag)
978-1-119-59453-6 (ISBN)
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Grounded in the Kimmel and Weygandt family of products, this new edition presents a fresh introduction to accounting through various practice opportunities, real-world industry examples, and discussions on cutting-edge topics to engage today's students.
1 Introduction to Financial Statements 1-1
Knowing the Numbers: Columbia Sportswear Company 1-1
Business Organization and Accounting Information Uses 1-2
Forms of Business Organization 1-3
Users and Uses of Financial Information 1-4
Ethics in Financial Reporting 1-6
The Three Types of Business Activity 1-8
Financing Activities 1-8
Investing Activities 1-9
Operating Activities 1-9
The Four Financial Statements 1-11
Income Statement 1-11
Retained Earnings Statement 1-12
Balance Sheet 1-14
Statement of Cash Flows 1-15
Interrelationships of Statements 1-16
Elements of an Annual Report 1-19
2 A Further Look at the Balance Sheet 2-1
Just Fooling Around?: The Motley Fool 2-2
The Classified Balance Sheet 2-3
Current Assets 2-3
Long-Term Investments 2-5
Property, Plant, and Equipment 2-5
Intangible Assets 2-6
Current Liabilities 2-7
Long-Term Liabilities 2-8
Stockholders’ Equity 2-8
Analyzing the Balance Sheet Using Ratios 2-9
Ratio Analysis 2-9
Using a Classified Balance Sheet 2-10
3 The Accounting Information System 3-1
Accidents Happen: MF Global Holdings Ltd 3-1
Financial Reporting Concepts 3-2
The Standard-Setting Environment 3-3
Qualities of Useful Information 3-3
Assumptions in Financial Reporting 3-5
Principles in Financial Reporting 3-5
Cost Constraint 3-6
Using the Accounting Equation to Analyze Transactions 3-7
Accounting Transactions 3-8
Analyzing Transactions 3-8
Summary of Transactions 3-15
Preparing Financial Statements 3-16
4 Accrual Accounting Concepts 4-1
Keeping Track of Groupons: Groupon 4-1
Accrual-Basis Accounting and Adjustments 4-2
The Revenue Recognition Principle 4-3
The Expense Recognition Principle 4-4
Accrual versus Cash Basis of Accounting 4-5
The Need for Adjustments 4-6
Types of Adjustments 4-6
Adjustments for Deferrals 4-8
Prepaid Expenses 4-8
Unearned Revenues 4-12
Adjustments for Accruals 4-14
Accrued Revenues 4-14
Accrued Expenses 4-16
Summary of Basic Relationships 4-19
Preparing Financial Statements 4-20
5 Fraud, Internal Control, and Cash 5-1
Minding the Money in Madison: Barriques 5-1
Fraud and Internal Control 5-3
Fraud 5-3
The Sarbanes-Oxley Act 5-3
Internal Control 5-4
Principles of Internal Control Activities 5-4
Data Analytics and Internal Controls 5-10
Limitations of Internal Control 5-11
Cash Controls 5-12
Cash Receipts Controls 5-12
Cash Disbursements Controls 5-14
Petty Cash Fund 5-16
Control Features of a Bank Account 5-17
Electronic Funds Transfer (EFT) System 5-17
Bank Statements 5-18
Reconciling the Bank Account 5-19
Reporting Cash and Cash Management 5-24
Reporting Cash 5-24
Managing and Monitoring Cash 5-26
Cash Budgeting 5-28
6 Merchandising Operations and the Multiple-Step Income Statement 6-1
Buy Now, Vote Later: REI 6-1
Merchandising Operations and Inventory Purchases 6-3
Flow of Costs 6-3
Recording Purchases Under a Perpetual Inventory System 6-5
Freight Costs 6-5
Purchase Returns and Allowances 6-6
Purchase Discounts 6-7
Summary of Purchasing Transactions 6-8
Recording Sales Under a Perpetual Inventory System 6-9
Recording Sales 6-9
Sales Returns and Allowances 6-10
Sales Discounts 6-11
Data Analytics and Credit Sales 6-11
Multiple-Step Income Statement 6-12
Format of the Multiple-Step Income Statement 6-12
Components of the Multiple-Step Income Statement 6-13
Gross Profit Rate and Profit Margin 6-16
Gross Profit Rate 6-16
Profit Margin 6-18
7 Reporting and Analyzing Inventory and Receivables 7-1
“Where Is That Spare Bulldozer Blade?”: Caterpillar 7-1
Classifying and Determining Inventory 7-3
Classifying Inventory 7-3
Determining Inventory Quantities 7-3
Inventory Methods and Financial Effects 7-6
Specific Identification 7-6
Cost Flow Assumptions 7-7
Financial Statement and Tax Effects of Cost Flow Methods 7-13
Reporting Receivables 7-14
Types of Receivables 7-14
Recognizing Accounts Receivable 7-15
Valuing Accounts Receivable 7-15
Data Analytics and Receivables Management 7-19
Inventory Presentation and Analysis 7-20
Presentation 7-20
Analysis 7-20
8 Reporting and Analyzing Long-Lived Assets 8-1
A Tale of Two Airlines: American Airlines 8-1
Plant Asset Expenditures 8-3
Determining the Cost of Plant Assets 8-3
Expenditures During Useful Life 8-6
Depreciation Methods 8-8
Factors in Computing Depreciation 8-9
Depreciation Methods 8-9
Revising Periodic Depreciation 8-14
Impairments 8-15
Plant Asset Disposals 8-16
Sale of Plant Assets 8-16
Retirement of Plant Assets 8-18
Intangible Assets 8-18
Accounting for Intangible Assets 8-19
Types of Intangible Assets 8-20
Statement Presentation and Analysis 8-23
Presentation 8-23
Analysis 8-25
9 Reporting and Analyzing Liabilities and Stockholders’ Equity 9-1
And Then There Were Two: Maxwell Car Company 9-1
Accounting for Current Liabilities 9-3
What Is a Current Liability? 9-3
Notes Payable 9-3
Sales Taxes Payable 9-4
Unearned Revenues 9-5
Current Maturities of Long-Term Debt 9-6
Payroll and Payroll Taxes Payable 9-6
Accounting for Bond Transactions 9-9
Issuing Bonds at Face Value 9-9
Discount or Premium on Bonds 9-10
Issuing Bonds at a Discount 9-11
Issuing Bonds at a Premium 9-13
Redeeming Bonds at Maturity 9-14
Accounting for Common, Preferred, and Treasury Stock 9-15
Stockholder Rights 9-16
Corporate Capital 9-17
Accounting for Common Stock 9-18
Accounting for Preferred Stock 9-19
Accounting for Treasury Stock 9-20
Accounting for Cash Dividends 9-23
Cash Dividends 9-23
Dividend Preferences 9-25
Presentation and Analysis of Stockholders’ Equity 9-27
Balance Sheet Presentation of Stockholders’ Equity 9-27
Analysis of Stockholders’ Equity 9-27
Debt versus Equity Decision 9-29
10 Financial Analysis: The Big Picture 10-1
It Pays to Be Patient: Warren Buffett 10-2
Sustainable Income and Quality of Earnings 10-3
Sustainable Income 10-3
Quality of Earnings 10-7
Horizontal Analysis and Vertical Analysis 10-9
Horizontal Analysis 10-10
Vertical Analysis 10-12
Ratio Analysis 10-15
Liquidity Ratios 10-16
Solvency Ratios 10-17
Profitability Ratios 10-17
Financial Analysis and Data Analytics 10-18
Comprehensive Example of Ratio Analysis 10-18
11 Managerial Accounting 11-1
Just Add Water … and Paddle: Current Designs 11-1
Managerial Accounting Basics 11-3
Comparing Managerial and Financial Accounting 11-3
Management Functions 11-4
Organizational Structure 11-5
Managerial Cost Concepts 11-7
Manufacturing Costs 11-8
Product versus Period Costs 11-9
Illustration of Cost Concepts 11-9
Manufacturing Costs in Financial Statements 11-11
Income Statement 11-11
Cost of Goods Manufactured 11-12
Cost of Goods Manufactured Schedule 11-13
Balance Sheet 11-14
Managerial Accounting Today 11-15
Service Industries 11-16
Focus on the Value Chain 11-17
Balanced Scorecard 11-18
Business Ethics 11-19
Corporate Social Responsibility 11-20
12 Job Order Costing 12-1
Profiting from the Silver Screen: Disney 12-1
Cost Accounting Systems 12-3
Process Cost System 12-3
Job Order Cost System 12-4
Job Order Cost Flow 12-5
Accumulating Manufacturing Costs 12-5
Assigning Manufacturing Costs 12-8
Raw Materials Costs 12-8
Factory Labor Costs 12-11
Predetermined Overhead Rates 12-13
Jobs Completed and Sold 12-16
Assigning Costs to Finished Goods 12-16
Assigning Costs to Cost of Goods Sold 12-17
Summary of Job Order Cost Flows 12-17
Job Order Costing for Service Companies 12-18
Advantages and Disadvantages of Job Order Costing 12-20
Applied Manufacturing Overhead 12-21
Cost of Goods Manufactured Schedule 12-21
Under-or Overapplied Manufacturing Overhead 12-22
13 Cost-Volume-Profit 13-1
Don’t Worry—Just Get Big: Amazon.com 13-1
Cost Behavior Analysis 13-2
Variable Costs 13-3
Fixed Costs 13-4
Relevant Range 13-5
Mixed Costs 13-6
Mixed Costs Analysis 13-7
High-Low Method 13-8
Importance of Identifying Variable and Fixed Costs 13-10
Cost-Volume-Profit Analysis 13-11
Basic Components 13-11
CVP Income Statement 13-11
Break-Even Analysis 13-15
Mathematical Equation 13-15
Contribution Margin Technique 13-16
Graphic Presentation 13-17
Target Net Income and Margin of Safety 13-19
Target Net Income 13-19
Margin of Safety 13-21
Appendix 13A: Regression Analysis 13-23
14 Incremental Analysis 14-1
Keeping It Clean: Method Products 14-1
Decision-Making and Incremental Analysis 14-3
Incremental Analysis Approach 14-3
How Incremental Analysis Works 14-4
Qualitative Factors 14-5
Types of Incremental Analysis 14-5
Special Orders 14-6
Make or Buy 14-8
Opportunity Cost 14-9
Sell or Process Further 14-10
Single-Product Case 14-11
Multiple-Product Case 14-11
Repair, Retain, or Replace Equipment 14-14
Eliminate Unprofitable Segment or Product 14-15
15 Budgetary Planning 15-1
What’s in Your Cupcake?: BabyCakes NYC 15-1
Effective Budgeting and the Master Budget 15-3
Budgeting and Accounting 15-3
The Benefits of Budgeting 15-3
Essentials of Effective Budgeting 15-4
The Master Budget 15-7
Sales, Production, and Direct Materials Budgets 15-8
Sales Budget 15-8
Production Budget 15-10
Direct Materials Budget 15-10
Direct Labor, Manufacturing Overhead, and S&A Expense Budgets 15-14
Direct Labor Budget 15-14
Manufacturing Overhead Budget 15-15
Selling and Administrative Expense Budget 15-15
Budgeted Income Statement 15-16
Cash Budget and Budgeted Balance Sheet 15-18
Cash Budget 15-18
Budgeted Balance Sheet 15-20
Budgeting in Nonmanufacturing Companies 15-23
Merchandisers 15-23
Service Companies 15-24
Not-for-Profit Organizations 15-25
16 Budgetary Control and Responsibility Accounting 16-1
Pumpkin Madeleines and a Movie: The Roxy Hotel Tribeca 16-1
Budgetary Control and Static Budget Reports 16-3
Budgetary Control 16-3
Static Budget Reports 16-4
Flexible Budget Reports 16-7
Why Flexible Budgets? 16-7
Developing the Flexible Budget 16-9
Flexible Budget—A Case Study 16-10
Flexible Budget Reports 16-12
Responsibility Accounting and Responsibility Centers 16-14
Controllable versus Noncontrollable Revenues and Costs 16-16
Principles of Performance Evaluation 16-16
Responsibility Reporting System 16-18
Types of Responsibility Centers 16-19
Investment Centers 16-24
Return on Investment (ROI) 16-24
Responsibility Report 16-25
Judgmental Factors in ROI 16-26
Improving ROI 16-26
Appendix 16A: ROI vs. Residual Income 16-30
Residual Income Compared to ROI 16-31
Residual Income Weakness 16-31
17 Standard Costs and Balanced Scorecard 17-1
80,000 Different Caffeinated Combinations: Starbucks 17-2
Overview of Standard Costs 17-3
Distinguishing Between Standards and Budgets 17-4
Setting Standard Costs 17-4
Direct Materials Variances 17-8
Analyzing and Reporting Variances 17-8
Calculating Direct Materials Variances 17-10
Direct Labor and Manufacturing Overhead Variances 17-12
Direct Labor Variances 17-13
Manufacturing Overhead Variances 17-15
Variance Reports and Balanced Scorecards 17-17
Reporting Variances 17-17
Income Statement Presentation of Variances 17-18
Balanced Scorecard 17-19
Appendix 17A: Overhead Controllable and Volume Variances 17-23
Overhead Controllable Variance 17-23
Overhead Volume Variance 17-24
18 Planning for Capital Investments 18-1
Floating Hotels: Holland America Line 18-2
Capital Budgeting and Cash Payback 18-3
Cash Flow Information 18-3
Illustrative Data 18-4
Cash Payback 18-5
Net Present Value Method 18-6
Equal Annual Cash Flows 18-7
Unequal Annual Cash Flows 18-8
Choosing a Discount Rate 18-9
Simplifying Assumptions 18-10
Comprehensive Example 18-10
Capital Budgeting Challenges and Refinements 18-12
Intangible Benefits 18-12
Profitability Index for Mutually Exclusive Projects 18-14
Risk Analysis 18-15
Post-Audit of Investment Projects 18-16
Internal Rate of Return 18-17
Comparing Discounted Cash Flow Methods 18-18
Annual Rate of Return 18-19
Appendix A Specimen Financial Statements: Apple Inc. A-1
Appendix B Specimen Financial Statements: Columbia Sportswear Company B-1
Appendix C Specimen Financial Statements: Under Armour, Inc. C-1
Appendix D Double-Entry Accounting System D-1
Accounts, Debits, and Credits D-2
Debits and Credits D-2
Debit and Credit Procedures D-3
Summary of Debit/Credit Rules D-5
Using a Journal and Ledger D-6
The Recording Process D-6
The Journal D-6
The Ledger D-7
Chart of Accounts D-7
Posting D-7
The Recording Process Illustrated D-7
The Trial Balance D-10
Adjusting Entries D-11
The Need for Adjusting Entries D-11
The Adjusting Process Illustrated D-12
Preparing Financial Statements D-13
Appendix E Time Value of Money E-1
Interest and Future Values E-2
Nature of Interest E-2
Future Value of a Single Amount E-3
Future Value of an Annuity E-5
Present Values E-8
Present Value Variables E-8
Present Value of a Single Amount E-9
Present Value of an Annuity E-11
Time Periods and Discounting E-13
Present Value of a Long-Term Note or Bond E-13
Capital Budgeting Situations E-16
Using Financial Calculators E-17
Present Value of a Single Sum E-18
Present Value of an Annuity E-19
Future Value of a Single Sum E-19
Future Value of an Annuity E-20
Internal Rate of Return E-20
Useful Applications of the Financial Calculator E-20
Company Index / Subject Index I-1
Available in WileyPLUS and Wiley Custom:
Appendix F Activity-Based Costing F-1
Traditional vs. Activity-Based Costing F-2
Traditional Costing Systems F-2
Illustration of a Traditional Costing System F-2
The Need for a New Approach F-3
Activity-Based Costing F-3
ABC and Manufacturers F-5
Identify and Classify Activities and Allocate Overhead to Cost Pools (Step 1) F-6
Identify Cost Drivers (Step 2) F-6
Compute Activity-Based Overhead Rates (Step 3) F-7
Assign Overhead Costs to Products (Step 4) F-8
Comparing Unit Costs F-9
ABC Benefits and Limitations F-9
The Advantage of Multiple Cost Pools F-10
The Advantage of Enhanced Cost Control F-12
The Advantage of Better Management Decisions F-13
Some Limitations and Knowing When to Use ABC F-14
ABC and Service Industries F-14
Traditional Costing Example F-15
Activity-Based Costing Example F-16
Appendix G Cost-Volume-Profit Analysis: Additional Issues G-1
Basic CVP Concepts G-2
Basic Concepts G-2
Basic Computations G-2
CVP and Changes in the Business Environment G-4
Sales Mix and Break-Even Sales G-6
Break-Even Sales in Units G-6
Break-Even Sales in Dollars G-8
Sales Mix with Limited Resources G-9
Operating Leverage and Profitability G-11
Effect on Contribution Margin Ratio G-12
Effect on Break-Even Point G-12
Effect on Margin of Safety Ratio G-12
Operating Leverage G-13
Appendix H Pricing H-1
Target Costing H-2
Establishing a Target Cost H-3
Cost-Plus and Variable-Cost Pricing H-3
Cost-Plus Pricing H-3
Limitations of Cost-Plus Pricing H-5
Variable-Cost Pricing H-6
Time-and-Material Pricing H-7
Transfer Prices H-9
Negotiated Transfer Prices H-10
Cost-Based Transfer Prices H-14
Market-Based Transfer Prices H-15
Effect of Outsourcing on Transfer Pricing H-16
Transfers Between Divisions in Different Countries H-16
Erscheinungsdatum | 17.12.2019 |
---|---|
Verlagsort | New York |
Sprache | englisch |
Maße | 218 x 274 mm |
Gewicht | 1882 g |
Themenwelt | Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen |
ISBN-10 | 1-119-59453-7 / 1119594537 |
ISBN-13 | 978-1-119-59453-6 / 9781119594536 |
Zustand | Neuware |
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