Name: Core Concepts of Accounting By Cecily A. Raiborn
SKU: 9780470499474
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Core Concepts of Accounting Summary

Core Concepts of Accounting by Cecily A. Raiborn

Raiborn arms accountants with the resources they need to understand key financial and managerial accounting concepts. Visual Recaps are provided to illustrate significant topics in a pictorial manner or summarized in a table. Each chapter contains a summary, key terms list, and a variety of questions, exercises, problems, and short cases. Accounting Information for Decision Making sections are designed to emphasize a user perspective of accounting information. Accountants will also find discussions of international financial reporting standards (IFRSs) to gain a global perspective.

Preface. About the Author. PART I ACCOUNTING FUNDAMENTALS. 1 An Introduction to the Role of Accounting in the Business World. INTRODUCTION. MAJOR TYPES OF BUSINESS ENTITIES. Common Legal Forms of Business Organizations . Internal Functions of Business Organizations . THE NATURE AND ROLE OF ACCOUNTING IN BUSINESS. Internal Decision Makers . External Decision Makers . FINANCIAL STATEMENT DEFINITIONS. Balance Sheet . Income Statement . Statement of Cash Flows . Statement of Stockholders' Equity . Financial Statement Footnotes . AN OVERVIEW OF THE ACCOUNTING PROFESSION. Private Accounting . Public Accounting . Certifications . Regulation of the Accounting Profession . Challenges Facing the Accounting Profession . Summary . Key Terms . Questions . Exercises . Problems . Cases . 2 Concepts and Elements Underlying Accounting. INTRODUCTION. COMPOSITION OF FINANCIAL STATEMENTS. Balance Sheet . Income Statement . OBJECTIVES OF FINANCIAL REPORTING. KEY ATTRIBUTES OF ACCOUNTING INFORMATION. Understandability . Relevance . Reliability . FUNDAMENTAL ACCOUNTING CONCEPTS. Accounting Period Concept . Historical Cost Principle . Unit of Measurement Concept . Going Concern Assumption . Entity Concept . Revenue Recognition Rules . Expense Recognition Rules . Full Disclosure Principle . AN INTRODUCTION TO THE ACCOUNTING SYSTEM. Accounts . The General Journal and General Ledger . Summary . Key Terms . Questions . Exercises . Problems . Cases . 3 The Mechanics of Double-Entry Accounting. INTRODUCTION. CAPTURING ACCOUNTING DATA. RECORDING TRANSACTIONS: DOUBLE-ENTRY BOOKKEEPING. Debits and Credits . Using Debits and Credits . Contra-Accounts . THE ACCOUNTING CYCLE. Step 1: Collect, Examine, and Process Transactions . Step 2: Adjust Account Balances as Necessary . Step 3: Prepare Financial Statements . Step 4: Close Temporary Accounts . Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . PART II ACCOUNTING FOR ASSETS. 4 Cash, Short-Term Investments, and Accounts Receivable. INTRODUCTION. CASH AND CASH EQUIVALENTS. Petty Cash . Bank Reconciliations . SHORT-TERM INVESTMENTS. ACCOUNTS RECEIVABLE. Accounting for Accounts Receivable . Credit Card Receivables . Notes Receivable . ACCOUNTING INFORMATION FOR DECISION MAKING. Quick Ratio . Age of Accounts Receivable . Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . 5 Inventory. INTRODUCTION. PERPETUAL AND PERIODIC INVENTORY SYSTEMS. ACCOUNTING FOR COMMON INVENTORY TRANSACTIONS. Purchasing Inventory from a Supplier . Paying for Freight-In on Purchases . Returning Inventory to a Supplier . Selling Inventory to a Customer . Accepting Returns of Inventory from a Customer . Paying on Account for Purchases of Inventory . INVENTORY COSTING METHODS. Specific Identification Method . FIFO Method . LIFO Method . Moving-Average Method . Comparison of Income Statements Effects of Inventory Costing Methods . Balance Sheet Valuation versus Income Determination . FIFO versus LIFO: Tax Consequences . VALUING INVENTORY AT OTHER THAN COST. Retail Inventory . Lower-of-Cost-or-Market . INVENTORY ERRORS. ACCOUNTING INFORMATION FOR DECISIONMAKING. Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . 6 Long-Term Assets: Property, Plant and Equipment, and Intangibles. INTRODUCTION. PROPERTY, PLANT AND EQUIPMENT. Acquisition of PP&E . Depreciation of PP&E . Disposal of PP&E . NATURAL RESOURCES. Intangible Assets . Goodwill . Disposal of Intangibles . ACCOUNTING INFORMATION FOR DECISIONMAKING. Valuation . Capitalization versus Expensing . Disclosures . Ratio Analysis . Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . PART III ACCOUNTING FOR LIABILITIES AND OWNERSHIP INTERESTS. 7 Liabilities. INTRODUCTION. CURRENT LIABILITIES. Accounts Payable . Notes Payable . Installment Notes Payable . Accrued Liabilities . Deferred Liabilities . Contingent Liabilities . LONG-TERM LIABILITIES. Bonds Payable . Long-Term Liabilities Other Than Bonds . ACCOUNTING INFORMATION FOR DECISIONMAKING. Completeness . Valuation Methods . Unusual Circumstances . Analyzing Liabilities . Summary . APPENDIX: ACCOUNTING FOR BONDS. Accounting for Bonds Issued at a Discount . Accounting for Bonds Issued at a Premium . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . 8 Stockholders' Equity. INTRODUCTION. THE CORPORATION. Key Advantages of the Corporation . Key Disadvantages of the Corporation . CORPORATE STOCK. Right and Privileges of Common Stockholders . Rights and Privileges of Preferred Stockholders . Par Value and No-Par Value Stock . STOCK ISSUANCES. TREASURY STOCK. DIVIDENDS. Cash Dividends . Stock Dividends . STOCK SPLITS. RETAINED EARNINGS. ACCOUNTING INFORMATION FOR DECISIONMAKING. Dividend Payouts . Ratios . Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . PART IV ANALYSIS OF ACCOUNTING DATA. 9 The Corporate Income Statement and Financial Statement Analysis. INTRODUCTION. INCOME STATEMENT. Earnings from Investments . Corporate Income Taxes . Nonrecurring Items . Earnings per Share . MAKING INFORMED ECONOMIC DECISIONS. Objectives of Financial Statement Analysis . Information Sources for Financial Statement Analysis . ANALYTICAL TECHNIQUES. Trend Analysis . Common-Sized Financial Statements . Ratio Analysis . ASSESSING EARNINGS QUALITY. Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . 10 Statement of Cash Flows. INTRODUCTION. THREE PRIMARY TYPES OF BUSINESS ACTIVITIES AND CASH FLOWS. DIRECT VERSUS INDIRECT METHOD OF PREPARING A STATEMENT OF CASH FLOWS. PREPARING A STATEMENT OF CASH FLOWS: INDIRECT METHOD. Analyzing Transactions for a SCF-Operating Activities . Analyzing Transactions for a SCF-Investing and Financing Activities . Completing the Analysis . Noncash Investing and Financing Activities . ACCOUNTING INFORMATION FOR DECISIONMAKING. Cash Flow Ratios . Cash Flow per Share . Free Cash Flow . Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . PART V MANAGERIAL ACCOUNTING. 11 Fundamental Managerial Accounting Concepts. INTRODUCTION. COMPARISON OF FINANCIAL AND MANAGERIAL ACCOUNTING. TYPES OF COSTS. Product and Period Costs . Direct and Indirect Costs . Controllable and Noncontrollable Costs . Variable and Fixed Costs . COMPONENTS OF PRODUCT COST FOR MANUFACTURING COMPANIES. Direct Material Cost . Direct Labor Cost . Overhead Cost . INVENTORY COSTING SYSTEMS. Job Order Costing . Processing Costing and Equivalent Units of Production . VALUING INVENTORY. Inventory Valuation Methods . Predetermined Overhead Rate . FLOW OF PRODUCT COSTS. COST OF GOODSMANUFACTURED AND SOLD. COSTS IN SERVICE COMPANIES. Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . 12 Cost-Volume-Profit Analysis. INTRODUCTION. ASSUMPTIONS OF BREAK-EVEN AND CVP ANALYSIS. BREAK-EVEN POINT. CVP ANALYSIS. Before-Tax Profit . After-Tax Profit . Other Considerations . USING INCREMENTAL ANALYSIS. Increase in Fixed Cost . Decrease in Selling Price . Increase in Sales Volume and Costs (1) . Increase in Sales Volume and Costs (2) . CVP ANALYSIS IN A MULTIPRODUCT ENVIRONMENT. GRAPHIC APPROACHES TO BEP AND CVP PROBLEMS. Break-Even Graph . Profit-Volume Graph . OPERATING ABOVE BREAK-EVEN. Margin of Safety . Degree of Operating Leverage . Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . 13 The Master Budget and Standard Costing. INTRODUCTION. THE BUDGETING PROCESS. THEMASTER BUDGET. Preparing a Master Budget . Sales Budget . Production Budget . Purchases Budget . Direct Labor Budget . Overhead Budget . Capital Budget . Cash Budget . Budgeted Financial Statements . THE ROLLING BUDGET. STANDARD COSTS. Material Variances . Labor Variances . Understanding Variances . Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . 14 Activity-Based Management and Performance Measurement. INTRODUCTION. ACTIVITY-BASED MANAGEMENT. Analyzing Activities . Value-Added and Non-Value-Added Activities . COST DRIVERS. LEVELS OF COST INCURRENCE. ACTIVITY-BASED COSTING. MEASURING SHORT-RUN PERFORMANCE. Cost Center . Profit Center . Investment Center . MEASURING LONG-RUN PERFORMANCE. Balanced Scorecard . Benchmarking . DECIDING ON PERFORMANCE MEASURES. REWARDING PERFORMANCE. Summary . Key Terms . Questions . Exercises . Problems . Cases . Supplemental Problems . Appendix. Glossary. Index.

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Sku

CIN0470499478G

ISBN 13

9780470499474

ISBN 10

0470499478

Title

Core Concepts of Accounting by Cecily A. Raiborn

Author

Cecily A. Raiborn

Condition

Used - Good

Binding type

Paperback

Publisher

John Wiley and Sons Ltd

Year published

20091124

Number of pages

464

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N/A

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Note

This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in good condition, but if you are not entirely satisfied please get in touch with us

Core Concepts of Accounting Cecily A. Raiborn

Core Concepts of Accounting by Cecily A. Raiborn

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Core Concepts of Accounting Summary

Core Concepts of Accounting by Cecily A. Raiborn

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