Financial Accounting An Introduction to Concepts, Methods, and Uses

ISBN-10: 0324183518

ISBN-13: 9780324183511

Edition: 10th 2003

List price: $129.95
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The authors focus on presenting both the basic concepts underlying financial statements and the terminology and methods that allow students to interpret, analyze and evaluate actual corporate financial statements.
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Book details

List price: $129.95
Edition: 10th
Copyright year: 2003
Publisher: Cengage South-Western
Publication date: 7/2/2002
Binding: Hardcover
Pages: 992
Size: 8.00" wide x 10.25" long x 1.50" tall
Weight: 4.180
Language: English

Clyde P. Stickney is the Signal Companies' Professor of Management, Emeritus at the Amos Tuck School of Business Administration, Dartmouth College. He received his DBA from Florida State University and taught at the University of Chicago and the University of North Carolina at Chapel Hill before joining the Tuck School in 1977. He has also taught at business schools in Japan, Australia, Finland, and Germany. Prof. Stickney has authored and coauthored books on financial accounting, managerial accounting, and financial statement analysis.

Roman L. Weil, Ph.D., CMA, CPA, is the V. Duane Rath Professor Emeritus of Accounting at the University of Chicago as well as Visiting Professor at the Haas School of the University of California, Berkeley and the Harvard Law School. He has designed and implemented continuing education programs for partners at two of the large accounting firms and for employees at several operating corporations. Dr. Weil has co-authored dozens of books. His lay articles have appeared in Barron's and The Wall Street Journal. He has published more than 80 articles in academic and professional journals, most recently on financial literacy for corporate governance.

Prefacep. vii
Overview of Financial Statementsp. 1
Introduction to Business Activities and Overview of Financial Statements and the Reporting Processp. 2
Overview of Business Activitiesp. 4
Principal Financial Statementsp. 8
Problem 1.1 for Self-Studyp. 18
Other Items in Annual Reportsp. 19
Financial Reporting Issuesp. 20
The Financial Reporting Process in the United Statesp. 25
An International Perspectivep. 27
Summaryp. 28
Solution to Self-Study Problemp. 28
Key Terms and Conceptsp. 30
Questions, Exercises, Problems, and Casesp. 31
Accounting Concepts and Methodsp. 43
Balance Sheet: Presenting the Investments and Financing of a Firmp. 44
Underlying Conceptsp. 46
Problem 2.1 for Self-Studyp. 53
Problem 2.2 for Self-Studyp. 56
Accounting Procedures for Preparing the Balance Sheetp. 57
Problem 2.3 for Self-Studyp. 64
An Overview of the Accounting Processp. 65
Balance Sheet Account Titlesp. 68
Problem 2.4 for Self-Studyp. 71
Analysis of the Balance Sheetp. 72
An International Perspectivep. 76
Summaryp. 80
Solutions to Self-Study Problemsp. 81
Key Terms and Conceptsp. 85
Questions, Exercises, Problems, and Casesp. 85
Income Statement: Reporting the Results of Operating Activitiesp. 108
The Accounting Period Conventionp. 110
Accounting Methods for Measuring Performancep. 110
Problem 3.1 for Self-Studyp. 116
Measurement Principles of Accrual Accountingp. 116
Problem 3.2 for Self-Studyp. 120
Overview of Accounting Proceduresp. 120
Illustration of the Accounting Process for a Merchandising Firmp. 124
Problem 3.3 for Self-Studyp. 127
Problem 3.4 for Self-Studyp. 135
Problem 3.5 for Self-Studyp. 143
Interpreting and Analyzing the Income Statementp. 144
Summaryp. 146
Solutions to Self-Study Problemsp. 148
Key Terms and Conceptsp. 151
Questions, Exercises, Problems, and Casesp. 151
Statement of Cash Flows: Reporting the Effects of Operating, Investing, and Financing Activities on Cash Flowsp. 178
Need for a Statement of Cash Flowsp. 179
Overview of the Statement of Cash Flowsp. 180
Problem 4.1 for Self-Studyp. 184
Preparing the Statement of Cash Flowsp. 185
Problem 4.2 for Self-Studyp. 192
Problem 4.3 for Self-Studyp. 195
Problem 4.4 for Self-Studyp. 204
An International Perspectivep. 209
Problem 4.5 for Self-Studyp. 209
Using Information in the Statement of Cash Flowsp. 210
Summaryp. 213
Problem 4.6 for Self-Studyp. 214
Solutions to Self-Study Problemsp. 215
Key Terms and Conceptsp. 220
Questions, Exercises, Problems, and Casesp. 220
Introduction to Financial Statement Analysisp. 246
Objectives of Financial Statement Analysisp. 248
Analysis of Profitabilityp. 250
Problem 5.1 for Self-Studyp. 259
Problem 5.2 for Self-Studyp. 266
Analysis of Riskp. 268
Problem 5.3 for Self-Studyp. 272
Problem 5.4 for Self-Studyp. 275
Limitations of Ratio Analysisp. 276
An International Perspectivep. 276
Summaryp. 277
Problem 5.5 for Self-Studyp. 277
Pro Forma Financial Statements and Valuationp. 279
Solutions to Self-Study Problemsp. 292
Key Terms and Conceptsp. 294
Questions, Exercises, Problems, and Casesp. 295
Measuring and Reporting Assets and Equities Using Generally Accepted Accounting Principlesp. 313
Receivables and Revenue Recognitionp. 314
Financial Reporting Environmentp. 316
Quality of Earningsp. 317
Review of Income Recognition Principlesp. 318
Application of Income Recognition Principlesp. 320
Problem 6.1 for Self Studyp. 321
Revenue Recognition at Time of Salep. 322
Problem 6.2 for Self-Studyp. 332
Analyzing Information on Accounts Receivablep. 334
Income Recognition at Times Different from Salep. 336
Summary Illustration of Income Recognition Methodsp. 341
Problem 6.3 for Self-Studyp. 343
Format and Classification within the Income Statementp. 343
An International Perspectivep. 345
Summaryp. 346
Effects on the Statement of Cash Flows of Transactions Involving Accounts Receivablep. 346
Solutions to Self-Study Problemsp. 347
Key Terms and Conceptsp. 350
Questions, Exercises, Problems, and Casesp. 350
Inventories: The Source of Operating Profitsp. 364
A Review of Fundamentalsp. 365
Costs Included in Inventoryp. 367
Problem 7.1 for Self-Studyp. 372
Valuation Subsequent to Acquisitionp. 374
Cost Flow Assumptionsp. 376
Problem 7.2 for Self-Studyp. 381
Problem 7.3 for Self-Studyp. 385
Analyzing Inventory Disclosuresp. 385
Problem 7.4 for Self-Studyp. 389
Problem 7.5 for Self-Studyp. 390
An International Perspectivep. 391
Summaryp. 391
Effects on the Statement of Cash Flows of Transactions Involving Inventoryp. 392
Solutions to Self-Study Problemsp. 393
Key Terms and Conceptsp. 397
Questions, Exercises, Problems, and Casesp. 397
Long-Lived Tangible and Intangible Assets: The Source of Operating Capacityp. 416
Capitalization versus Immediate Expensingp. 418
Measurement of Acquisition Costp. 422
Problem 8.1 for Self-Studyp. 425
Treatment of Acquisition Cost Over Life of Assetp. 426
Depreciation and Amortization: Fundamental Conceptsp. 427
Depreciation and Amortization: Measurementp. 428
Problem 8.2 for Self-Studyp. 434
Impact of New Information about Long-Lived Assetsp. 436
Problem 8.3 for Self-Studyp. 438
Problem 8.4 for Self-Studyp. 440
Problem 8.5 for Self-Studyp. 444
Retirement of Assetsp. 444
Financial Statement Presentationp. 446
Analyzing Financial Statement Disclosures of Long-Lived Assetsp. 447
Problem 8.6 for Self-Studyp. 451
An International Perspectivep. 451
Summaryp. 452
Effects on the Statement of Cash Flows of Transactions Involving Plant and Intangible Assetsp. 453
Solutions to Self-Study Problemsp. 455
Key Terms and Conceptsp. 458
Questions, Exercises, Problems, and Casesp. 458
Liabilities: Introductionp. 474
Basic Concepts of Liabilitiesp. 475
Current Liabilitiesp. 481
Problem 9.1 for Self-Studyp. 484
Long-Term Liabilitiesp. 485
Problem 9.2 for Self-Studyp. 489
Problem 9.3 for Self-Studyp. 491
Problem 9.4 for Self-Studyp. 499
Problem 9.5 for Self-Studyp. 505
Problem 9.6 for Self-Studyp. 509
Summaryp. 509
Effects on the Statement of Cash Flows of Transactions Involving Long-Term Liabilitiesp. 510
Solutions to Self-Study Problemsp. 511
Key Terms and Conceptsp. 518
Questions, Exercises, Problems, and Casesp. 519
Liabilities: Off-Balance-Sheet Financing, Leases, Deferred Income Taxes, Retirement Benefits, and Derivativesp. 534
Off-Balance-Sheet Financingp. 535
Problem 10.1 for Self-Studyp. 538
Leasesp. 539
Problem 10.2 for Self-Studyp. 546
Income Tax Accounting and Deferred Income Taxesp. 547
Problem 10.3 for Self-Studyp. 551
Problem 10.4 for Self-Studyp. 552
Deferred Compensation: Pension Benefits and Other Deferred Compensationp. 556
Deferred Compensation: Health Care and Other Benefitsp. 558
Derivative Instrumentsp. 558
Problem 10.5 for Self-Studyp. 571
An International Perspectivep. 572
Summaryp. 572
Effects on the Statement of Cash Flows of Transactions Involving Liabilitiesp. 572
Solutions to Self-Study Problemsp. 574
Key Terms and Conceptsp. 580
Questions, Exercises, Problems, and Casesp. 581
Marketable Securities and Investmentsp. 596
Overview of the Accounting and Reporting of Investments in Securitiesp. 597
Minority, Passive Investmentsp. 599
Problem 11.1 for Self-Studyp. 601
Problem 11.2 for Self-Studyp. 606
Minority, Active Investmentsp. 608
Problem 11.3 for Self-Studyp. 611
Majority, Active Investmentsp. 612
Problem 11.4 for Self-Studyp. 619
An International Perspectivep. 621
Summaryp. 621
Preparing Consolidated Financial Statementsp. 623
Problem 11.5 for Self-Studyp. 628
Accounting for Corporate Acquisitionsp. 629
Problem 11.6 for Self-Studyp. 633
Effects on the Statement of Cash Flows of Investments in Securitiesp. 634
Solutions to Self-Study Problemsp. 635
Key Terms and Conceptsp. 640
Questions, Exercises, Problems, and Casesp. 641
Shareholders' Equity: Capital Contributions, Earnings, and Distributionsp. 670
Capital Contributionsp. 673
Issuing Capital Stockp. 675
Problem 12.1 for Self-Studyp. 683
Reporting Operating Transactionsp. 683
Problem 12.2 for Self-Studyp. 695
An International Perspectivep. 695
Corporate Distributionsp. 696
Problem 12.3 for Self-Studyp. 700
Problem 12.4 for Self-Studyp. 702
Earnings and Book Value per Sharep. 703
Disclosure of Changes in Shareholders' Equityp. 703
An International Perspectivep. 706
Summaryp. 709
Effects on the Statement of Cash Flows of Transactions Involving Shareholders' Equityp. 709
Solutions to Self-Study Problemsp. 710
Key Terms and Conceptsp. 713
Questions, Exercises, Problems, and Casesp. 713
Statement of Cash Flows: Another Lookp. 734
Review of Concepts Underlying the Statement of Cash Flowsp. 735
Review of T-Account Procedure for Preparing the Statement of Cash Flowsp. 736
Comprehensive Illustration of the Statement of Cash Flowsp. 737
Problem 13.1 for Self-Studyp. 754
Interpreting the Statement of Cash Flowsp. 754
Solution to Self-Study Problemp. 756
Problems and Casesp. 757
Synthesisp. 777
Significance and Implications of Alternative Accounting Principlesp. 778
Establishing Acceptable Accounting Principlesp. 779
Review of Generally Accepted Accounting Principlesp. 782
An Illustration of the Effects of Alternative Accounting Principles on a Set of Financial Statementsp. 788
Assessing the Effects of Alternative Accounting Principles on Investment Decisionsp. 792
The Firm's Selection of Alternative Accounting Principlesp. 797
Summaryp. 800
Problem 14.1 for Self-Studyp. 800
Solution to Self-Study Problemp. 805
Key Terms and Conceptsp. 810
Questions, Exercises, Problems, and Casesp. 810
Appendixp. 830
Compound Interest, Annuity, and Bond Tablesp. 857
Glossaryp. 865
Indexp. 953
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