Accounting Information for Business Decisions

Name: Accounting Information for Business Decisions
Availability: OutOfStock
ISBN: 9780030224393

ISBN-10: 003022439X

ISBN-13: 9780030224393

Edition: 1999

Authors: Cunningham

List price: $33.50

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Book details

List price: $33.50
Copyright year: 1999
Publisher: Harcourt Trade Publishers
Binding: Paperback
Pages: 608
Size: 8.43" wide x 10.76" long x 0.74" tall
Weight: 2.2
Language: English

Volume II
Overview: Business, Accounting, and the Role of Creative and Critical Thinking	p. 1
Introduction to Business and Accounting	p. 3
Private Enterprise and Capitalism	p. 5
The Forms That Companies Take	p. 8
The Regulatory Environment of Business	p. 9
Integrated Accounting System	p. 10
Activities of Management	p. 11
Accounting Support for Management Activities	p. 13
Accounting Support for External Decision Making	p. 16
Ethics in Business and Accounting	p. 19
Framework of the Book	p. 21
Summary	p. 21
Integrated Business and Accounting Situations	p. 23
Dr. Decisive	p. 25
Creative and Critical Thinking, Problem-Solving, and Their Roles in Business and Accounting	p. 27
The Changing Business Environment	p. 28
The Successful Businessperson	p. 30
The Accountant of the 21st Century	p. 31
Creative and Critical Thinking	p. 32
Applying Creative and Critical Thinking to Business Decisions	p. 40
Creative and Critical Thinking Orientation of the Book	p. 45
Summary	p. 46
Integrated Business and Accounting Situations	p. 47
Dr. Decisive	p. 51
Planning in an Entrepreneurial Environment	p. 53
Developing a Business Plan: Cost-Volume-Profit Analysis	p. 55
Planning in a Start-Up Company	p. 56
Cost-Volume-Profit (C-V-P) Planning	p. 63
Using C-V-P Analysis	p. 72
Other Planning Issues	p. 75
Business Issues and Values: Waste Not, Want Not	p. 75
Summary	p. 76
Integrated Business and Accounting Situations	p. 77
Dr. Decisive	p. 84
Developing a Business Plan: Budgeting	p. 85
Why Budget?	p. 86
Operating Cycles	p. 87
The Budget as a Framework for Planning	p. 89
Using the Master Budget in Evaluating the Company's Performance	p. 102
Business Issues and Values	p. 105
Summary	p. 105
Integrated Business and Accounting Situations	p. 107
Dr. Decisive	p. 112
Operating, Reporting, and Evaluating in an Entrepreneurial Environment	p. 113
Accounting for the Operations of a Company	p. 115
Financial Accounting Information and Decision-Making	p. 116
Basic Concepts and Terms Used in Accounting	p. 118
Components of the Accounting Equation	p. 120
Accounting for Transactions to Start a Business	p. 125
Expanding the Accounting Equation	p. 130
Accounting Principles and Concepts Related to Net Income	p. 130
Recording Daily Operations	p. 132
End-of-Period Adjustments	p. 137
Net Income and the Balance Sheet	p. 143
Summary	p. 144
Integrated Business and Accounting Situations	p. 145
Dr. Decisive	p. 155
The Accounting System and Using the Income Statement for Business Decisions	p. 157
Why the Income Statement is Important	p. 158
Accounting System for Recording and Retaining Information	p. 159
The Retail Company's Income Statement	p. 164
Revenues	p. 166
Expenses	p. 171
Operating Income, Other Items, and Net Income	p. 176
Uses of the Income Statement for Evaluation	p. 176
Statement of Changes in Owner's Equity	p. 179
Withdrawals Entries	p. 180
Closing Entries	p. 181
Summary	p. 183
Integrated Business and Accounting Situations	p. 185
Dr. Decisive	p. 194
Using the Balance Sheet for Business Decisions	p. 195
Why the Balance Sheet Is Important	p. 196
The Accounting Equation and the Balance Sheet	p. 198
Using the Balance Sheet for Evaluation	p. 204
Relationship Between the Income Statement and the Balance Sheet	p. 208
Evaluations Using the Balance Sheet and the Income Statement	p. 209
Limitations of the Income Statement and the Balance Sheet	p. 214
Summary	p. 215
Integrated Business and Accounting Situations	p. 217
Dr. Decisive	p. 226
Using the Cash Flow Statement for Business Decisions	p. 227
Why the Cash Flow Statements Is Important	p. 228
Understanding Cash Flow Transactions	p. 228
The Organization of the Cash Flow Statement	p. 232
Preparing the Cash Flow Statement	p. 234
Expanded Discussion of Calculations for the Direct Method	p. 236
Analysis of the Cash Flow Statement	p. 241
Business Issues and Values	p. 246
Summary	p. 246
Integrated Business and Accounting Situations	p. 248
Dr. Decisive	p. 257
Managing and Reporting Working Capital	p. 259
Working Capital	p. 260
Cash	p. 263
Accounts Receivable	p. 273
Inventory	p. 276
Accounts Payable	p. 280
Business Issues and Values	p. 281
Summary	p. 281
Integrated Business and Accounting Situations	p. 283
Dr. Decisive	p. 291
Planning in a Corporate Environment	p. 293
Introduction to Corporations: Structures, Reports, and Analyses	p. 295
Forms of Business Organizations	p. 296
Starting a Corporation	p. 301
The Organizational Structure of Large Corporations	p. 302
Qualities of Useful Accounting Information	p. 303
Unique Features of a Corporation's Financial Statements	p. 305
Financial Information Used in Decision-Making	p. 309
Analysis of Financial Information	p. 314
Business Issues and Values	p. 315
Summary	p. 315
Integrated Business and Accounting Situations	p. 317
Dr. Decisive	p. 325
Developing a Business Plan for a Manufacturing Company: Cost-Volume-Profit Planning and Analysis	p. 327
A Manufacturing Company's Business Plan	p. 328
Manufacturing Costs	p. 332
Standard Costs	p. 336
Cost-Volume-Profit Analysis	p. 337
Business Issues and Values	p. 352
Summary	p. 353
Integrated Business and Accounting Situations	p. 354
Dr. Decisive	p. 361
Developing a Business Plan for a Manufacturing Company: Budgeting	p. 363
Budgeting in a More Complex Environment	p. 364
The Budget Framework for Planning in a Manufacturing Company	p. 364
Technology and Budgeting	p. 384
Responsibility Centers	p. 385
Flexible Budgets	p. 385
Business Issues and Values	p. 388
Summary	p. 391
Integrated Business and Accounting Situations	p. 393
Dr. Decisive	p. 400
Managing, Reporting, and Evaluating Corporate Liquidity	p. 401
Revenues and Cash Collections	p. 403
The Importance of Managing and Reporting on Liquidity	p. 405
Managing Receivables	p. 408
Accounts Receivable	p. 410
Computing the Amount of Sales Made to Companies in Other Countries	p. 423
Unearned Revenue	p. 425
Notes Receivable	p. 428
Managing and Reporting Cash and Cash Equivalents	p. 431
Cash Balance Management	p. 436
Summary	p. 437
Integrated Business and Accounting Situations	p. 440
Dr. Decisive	p. 448
Expenses and Cash Payments	p. 449
Managing and Recording Accounts Payable	p. 451
Additional Current Liabilities	p. 458
Accrued Liabilities	p. 458
Taxes	p. 461
Short-Term Notes Payable	p. 467
Prepaid Items	p. 468
Loss Contingencies	p. 468
Evaluation of a Company's Liquidity Position	p. 470
Business Issues and Values	p. 475
Summary	p. 476
Integrated Business and Accounting Situations	p. 478
Dr. Decisive	p. 488
Appendix
The Profession of Accountancy	p. 491
Industry Accounting	p. 492
Public Accounting	p. 493
Governmental and Quasi-Governmental Accounting	p. 495
Professional Organizations	p. 496
Summary	p. 497
Index	p. 501
Volume II
Managing, Reporting, and Evaluating Operations in a Corporate Environment	p. 511
Short-Term Planning Decisions	p. 513
Decision-Making	p. 514
Relevant Costs and Revenues	p. 515
Deciding How Many Units of Inventory to Buy	p. 521
Deciding Whether to Drop a Product	p. 523
Deciding Whether to Make or Buy a Part or Product	p. 526
Deciding Whether to Sell a Product or Process It Further	p. 529
Decisions Involving Product Mix	p. 531
Business Issues and Values	p. 535
Summary	p. 536
Integrated Business and Accounting Situations	p. 537
Dr. Decisive	p. 545
Inventory and Operations	p. 547
Common Elements of Cost Accounting Systems	p. 548
The Structure of Cost Accounting Systems	p. 550
Job Order Costing	p. 553
Process Costing	p. 564
Summary	p. 574
Integrated Business and Accounting Situations	p. 576
Dr. Decisive	p. 585
Inventory and Control	p. 587
More About Standard Costs	p. 588
Standard Costs and Variances for Direct Materials	p. 590
Standard Costs and Variances for Direct Labor	p. 596
Standard Costs and Variances for Factory Overhead	p. 600
Using Manufacturing Cost Variances to Control Operations	p. 609
The Flexibility of Variances	p. 611
Business Issues and Values	p. 612
Summary of Variance Computations	p. 613
Summary	p. 614
Integrated Business and Accounting Situations	p. 616
Dr. Decisive	p. 626
Modern Developments in Managing Operations	p. 627
Effects of Modern Developments on Competition	p. 628
The Issue of Quality	p. 629
Just-In-Time (JIT) Strategies for Manufacturing Companies	p. 632
The Effect of Improved Technology and Factory Layout	p. 635
Activity-Based Costing	p. 637
Business Issues and Values: Can Satisfying Customer's Be a Bad Decision?	p. 648
Choosing Which Costing Accounting System to Use	p. 648
Summary	p. 649
Integrated Business and Accounting Situations	p. 650
Dr. Decisive	p. 660
Reporting Inventory	p. 661
Reporting Inventory on the Balance Sheet	p. 663
Computing the Historical Cost and the Amount of Inventory	p. 664
Using Alternative Inventory Cost Flow Assumptions	p. 665
Effects of the Three Alternatives	p. 671
Disclosure in the Financial Statements	p. 674
Using Inventory and Cost of Goods Sold Disclosures for Evaluation	p. 675
Using the Lowest of Cost or Market Method	p. 681
Estimating the Cost of Inventory and Cost of Goods Sold	p. 684
Cash Flows from Operating Activities	p. 687
Summary	p. 694
Integrated Business and Accounting Situations	p. 697
Dr. Decisive	p. 707
Managing, Reporting, and Evaluating Noncurrent Assets in a Corporate Environment	p. 709
Capital Expenditure Decisions	p. 711
Capital Expenditure Decisions	p. 712
Making a Capital Expenditure Decision	p. 712
The Time Value of Money and Present Value	p. 717
Net Present Value Method	p. 722
Alternate Methods for Evaluating Capital Expenditure Proposals	p. 725
Selecting Alternate Proposals for Investment	p. 727
Business Issues and Values	p. 729
Summary	p. 730
Integrated Business and Accounting Situations	p. 734
Dr. Decisive	p. 741
Reporting Property, Plant, and Equipment and Intangibles	p. 743
Issues Involved in Reporting Property, Plant, and Equipment	p. 745
Computing the Cost of Property, Plant, and Equipment	p. 747
Reasons for Depreciating Property, Plant, and Equipment	p. 748
Calculating Depreciation Expense	p. 750
Comparison of Depreciation Methods	p. 754
Depreciation and Income Taxes	p. 756
Subsequent Expenditures	p. 757
Impairment of Property, Plant, and Equipment	p. 758
Disposing of Property, Plant, and Equipment	p. 760
Reporting Property, Plant, and Equipment and Depreciation Expense	p. 761
Property, Plant, and Equipment and the Cash Flow Statement	p. 762
Using Information About Property, Plant, and Equipment and Depreciation Expense	p. 763
Intangible Assets	p. 773
Summary	p. 783
Integrated Business and Accounting Situations	p. 785
Dr. Decisive	p. 793
Managing, Reporting, and Evaluating Long-Term Financing and Investing Activities in a Corporate Environment	p. 795
Long-Term Debt and Other Financing Issues	p. 797
Valuing Long-Term Debt	p. 799
Loan Payments and Interest	p. 801
Bond Characteristics	p. 803
User Analysis Perspective: Reasons for Issuing Bonds	p. 803
Bonds Issued at Face Value	p. 805
Factors Affecting Bond Interest Rates	p. 806
Bonds Issued at Less Than or More Than Face Value	p. 807
Reporting Long-Term Debt and Interest	p. 813
Leases	p. 817
Mortgages Payable	p. 822
Deferred Income Taxes	p. 822
External User Perspective: Analysis of Deferred Tax Reporting	p. 824
Retirement Benefits	p. 824
How Long-Term Debt Transactions Affect the Cash Flow Statement	p. 826
Summary	p. 826
Accounting for Bonds Sold at a Premium or Discount That Pay Interest Semiannually	p. 829
Integrated Business and Accounting Situations	p. 835
Dr. Decisive	p. 842
Investments in Stocks and Bonds of Other Companies	p. 843
Classifications of Investments	p. 844
Market Prices of Stocks and Bonds	p. 845
Market Value Method	p. 846
Equity Method	p. 852
Business Issues and Values	p. 857
Consolidated Financial Statements	p. 857
Business Issues and Values	p. 858
Segment Reports	p. 859
Uses of Segment Information	p. 860
Investments in Held to Maturity Bonds: Amortized Cost Method	p. 862
Summary	p. 864
Accounting for Investments in Held to Maturity Bonds That Pay Interest Semiannually	p. 866
Integrated Business and Accounting Situations	p. 868
Dr. Decisive	p. 877
Corporate Stock and Earnings Issues	p. 879
Corporate Capital Structure	p. 880
Capital Stock Transactions	p. 884
Treasury Stock	p. 888
Stock Options	p. 890
External User Analysis: Liabilities Vs Stockholders' Equity	p. 892
Corporate Earnings	p. 892
Earnings Per Share	p. 897
Business Issues and Values	p. 900
Cash Dividends	p. 901
Stock Dividends	p. 903
Comprehensive Income	p. 907
Statement of Changes in Stockholders' Equity	p. 907
How Capital Stock Transactions Affect the Cash Flow Statement	p. 908
Summary	p. 909
Integrated Business and Accounting Situatioins	p. 912
Dr. Decisive	p. 925
Appendices
Recording, Storing, and Summarizing Accounting Information	p. 927
General Mills Annual Report: Financial Section	p. 961
Index	p. 983
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