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Tables of Contents for Accounting
Chapter/Section Title
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ACCOUNTING
SECTION F1 The Accounting Information System
F1
 
F1 Accounting and Organizations
F2
 
Information for Decisions
F3
 
The Purpose of Organizations
F5
 
Transformation of Resources
F6
 
Creating Value
F7
 
The Role of Accounting in Business Organizations
F8
 
The Structure of Business Organizations
F10
 
Business Ownership
F10
 
Management of Corporations
F11
 
Advantages of Corporations
F13
 
Disadvantages of Corporations
F13
 
Creditors
F14
 
Accounting and Business Decisions
F16
 
Risk and Return
F16
 
The Regulatory Environment of Accounting
F20
 
The Importance of Ethics
F22
 
A Short Introduction to Excel
F23
 
Identifying and Selecting Cells
F23
 
Referencing and Mathematical Operations
F23
 
Copying Cell Contents
F24
 
Changing Column Widths
F24
 
Menus
F24
 
Buttons
F25
 
F2 Business Activities-The Source of Accounting Information
F44
 
Financing Activities
F45
 
Accounting for Business Activities
F46
 
Investing Activities
F47
 
Operating Activities
F50
 
Financial Reporting and Analysis
F53
 
The Income Statement
F54
 
The Balance Sheet
F55
 
The Statement of Cash Flows
F56
 
The Transformation Process
F57
 
Financial Analysis
F58
 
Debits and Credits: Another Way to Record Transactions
F59
 
F3 Measuring Revenues and Expenses
F82
 
Accrual Accounting
F83
 
Revenue Transactions
F84
 
Expense Transactions
F87
 
Adjusting Account Balances
F90
 
Ledger Accounts
F93
 
Closing Entries and Financial Statements
F94
 
Summary of Account Balances
F94
 
Income Statement
F94
 
Closing Entries
F95
 
Payments to Owners
F98
 
Post-Closing Account Balances
F98
 
Balance Sheet
F98
 
Statement of Cash Flows
F100
 
Summary of Accounting Cycle
F100
 
Accounting and Ethics
F100
 
F4 Reporting Earnings and Financial Position
F128
 
The Purpose of Financial Statements
F129
 
The Income Statement
F130
 
Gross Profit
F131
 
Operating Income
F131
 
Other Revenues and Expenses
F132
 
Income Taxes
F132
 
Net Income
F132
 
Earnings Per Share
F132
 
Other Reporting Issues
F133
 
The Balance Sheet
F136
 
Current Assets
F136
 
Property and Equipment
F137
 
Liabilities
F137
 
Stockholders' Equity
F137
 
Other Balance Sheet Content
F138
 
Other Current Assets
F138
 
Other Long-Term Assets
F138
 
Other Current Liabilities
F140
 
Other Long-Term Liabilities
F140
 
Stockholders' Equity and Comprehensive Income
F140
 
The Statement of Stockholders' Equity
F142
 
Use of Financial Statements
F143
 
Interrelationships among Financial Statements
F143
 
Limitations of Financial Statements
F144
 
F5 Reporting Cash Flows
F179
 
The Statement of Cash Flows
F180
 
The Direct Format
F180
 
Operating Activities
F181
 
Investing Activities
F184
 
Financing Activities
F184
 
The Indirect Format
F185
 
Interpreting Cash Flows
F189
 
F6 Full and Fair Reporting
F224
 
The Purpose of Accounting Regulation
F225
 
Sources of Accounting Regulation
F226
 
Creating Accounting Standards
F228
 
Standard-Setting Organizations
F228
 
The Standard-Setting Process
F229
 
The FASB's Conceptual Framework
F230
 
Disclosure and Fair Representation
F231
 
Summary Business Data
F231
 
Management's Discussion and Analysis
F231
 
Notes to the Financial Statements
F233
 
The Auditors' Report
F235
 
Report of Management Responsibilities
F237
 
Internal Controls
F238
 
Management Philosophy
F238
 
Business Ethics
F238
 
Computer System Controls
F240
 
Human Resources Controls
F240
 
Physical Controls
F241
 
Conclusion
F241
 
The Responsibilities of Accountants
F241
 
F7 Computerized Accounting Systems
F255
 
Components of a Computerized Accounting System
F256
 
Data Processing in a Computerized System
F258
 
Accounting System Modules
F261
 
The Sales Module
F261
 
The Purchasing and Inventory Management Module
F263
 
The Human Resources Module
F264
 
The Production Module
F265
 
The Structure of Accounting Systems
F266
 
An Illustration of an Accounting System
F268
 
Copying and Opening the Database
F268
 
Database Contents
F268
 
Tables
F269
 
Entering Transactions
F269
 
Sales Orders
F269
 
Shipping Information
F270
 
Receiving Goods
F271
 
Billing Customers
F272
 
Reporting Sales and Income
F272
 
Cash Receipts and Accounts Receivable
F272
 
Summary
F273
 
SECTION F2 Analysis and Interpretation of Financial Accounting Information
F283
 
F8 The Time Value of Money
F284
 
Future Value
F285
 
Compound Interest
F286
 
Future Value of an Annuity
F288
 
Present Value
F292
 
Present Value of an Annuity
F294
 
Loan Payments and Amortization
F296
 
Unequal Payments
F300
 
Combining Single Amounts and Annuities
F301
 
Summary of Future and Present Value Concepts
F301
 
F9 Financing Activities
F319
 
Types of Obligations
F320
 
Debt Obligations
F321
 
Short-Term Debt
F321
 
Long-Term Debt
F321
 
Debt Transactions
F323
 
Financial Reporting of Debt
F327
 
Other Obligations
F328
 
Contingencies
F328
 
Commitments
F329
 
Capital Leases
F329
 
Stockholders' Equity
F331
 
Contributed Capital
F332
 
Retained Earnings
F333
 
Changes in Stockholders' Equity
F334
 
Equity Transactions
F334
 
Cash Dividends
F336
 
Issuing New Stock
F336
 
Stock Dividends
F336
 
Preferred Stock
F337
 
International Reporting of Financing Activities
F339
 
Other Related Topics
F339
 
Stock Options
F339
 
Noncontrolling Interest
F340
 
Appropriation of Retained Earnings
F340
 
Foreign Currency Adjustments
F340
 
F10 Analysis of Financing Activities
F362
 
Financing Decisions
F363
 
Capital Structure Decisions
F363
 
The Effect of Financial Leverage
365
3131347
Effects of Financing Decisions on Cash Flow and Liquidity
F368
 
Dividend Decisions
F368
 
Other Financing Alternatives
F369
 
Interpretation of Financing Activities
F369
 
A General Overview
F370
 
Comparing Capital Structures
F371
 
The Effect of Financial Leverage on Risk and Return
F371
 
Other Risk Considerations
F373
 
Financing Activities and Company Value
F375
 
F11 Investing Activities
F402
 
Types of Assets
F403
 
Property, Plant, and Equipment
F404
 
Plant Asset Cost
F405
 
Depreciation
F406
 
Disposing of Plant Assets
F412
 
Natural Resources
F412
 
Long-Term and Short-Term Investments
F413
 
Types of Securities
F413
 
Held-To-Maturity Securities
F414
 
Trading Securities and Available-for-Sale Securities-Investments in Debt
F415
 
Trading Securities and Available for-Sale Securities-Investments in Equity
F416
 
Short-Term Investments
F418
 
Intangible Assets
F419
 
Other Long-Term Assets
F420
 
Financial Reporting of Investing Activities
F420
 
Other Investment Issues
F422
 
Equity Method
F422
 
Consolidations
F423
 
F12 Analysis of Investing Activites
F446
 
Investing Decisions
F447
 
Investment Decisions and Profit
F448
 
Investment Decisions and Risk
F450
 
Interpretation of Investing Activities
F453
 
Identifying Investing Activities
F453
 
The Importance of Asset Growth
F454
 
Measuring the Effects of Growth
F454
 
The Effect of Investment on Effectiveness and Efficiency
F456
 
Investing Activities and Creditor Decisions
F458
 
F13 Operating Activities
F479
 
Basic Operating Activities
F480
 
Revenues and Receivables
F481
 
Recognizing Revenue for Long-Term Contracts
F481
 
Sales Discounts and Return
F482
 
Uncollectible Accounts
F485
 
Warranty Costs
F486
 
Inventories and Cost of Goods Sold
F487
 
Reporting Inventories and Cost of Goods Sold
F488
 
Measuring Inventory
F491
 
Perpetual and Periodic Inventory Methods
F491
 
Inventory Estimation and Income Taxes
F495
 
Comparing Inventory Costs among Companies
F497
 
Other Operating Activities and Income Statement Items
F498
 
Operating Expenses
F499
 
Other Revenues and Expenses
F500
 
Income Taxes
F500
 
Nonrecurring Gains and Losses
F500
 
Other Topics
F502
 
Equity Income
F502
 
Noncontrolling Interest in Income
F502
 
Deferred Compensation
F503
 
F14 Analysis of Operating Activities
F530
 
Operating Decisions
F531
 
Developing an Operating Strategy
F532
 
Interpretation of Operating Activities
F535
 
Cost Leadership and Product Differentiation Strategies
F535
 
Comparing Accrual and Cash Flow Measures of Operating Performance
F537
 
Further Evaluation of Operating Strategy
F537
 
Linking Operating and Investing Activities with Financing Activities
F540
 
The Big Picture
F541
 
MANAGERIAL ACCOUNTING
SECTION M1 Systems for Product Costing and Decision Making
M1
 
M1 Managerial Accounting Systems for Accounting and Management Decisions
M2
 
Introduction to Managerial Accounting
M3
 
Corporate Structure and Accounting Information Needs
M3
 
The Changing Needs of Business
M4
 
The Quality of Accounting Information
M5
 
The Role of Managerial Accounting in Planning and Control
M6
 
Planning
M7
 
Control
M8
 
Ethics and Control
M10
 
Interactions Among Accounting, Marketing, and Operations
M10
 
Managerial Accounting and Marketing
M10
 
Managerial Accounting and Operations
M11
 
Other Effects on Marketing and Operations
M12
 
The Scope of Managerial Accounting
M43
 
Nonfinancial Performance Measures
M14
 
Service Companies
M15
 
M2 Cost Categories and Flows
M29
 
Pine Belt Furniture Company: Markets and Manufacturing Processes
M30
 
Product Costs Versus Period Expense
M32
 
Product Costs
M37
 
How Manufacturing Costs Flow Through an Accounting System
M33
 
Managerial Accounting Systems to Support Decision Making
M36
 
Proactively Controlling Cost Using Target Costing
M37
 
Cost Information for Service Organizations
M40
 
Cost Categories
M40
 
Cost Control
M40
 
M3 Producing Goods and Services: Batch Processing
M54
 
The Importance of Unit Costs
M55
 
Product Pricing
M56
 
Marketing Strategy
M56
 
Product Life Cycle
M56
 
Allocating Resources
M57
 
Unit Profit Margin
M57
 
Measuring Costs
M57
 
Iron Mountain Gear: The Product and Manufacturing Process
M58
 
Job-Order Costing
M61
 
Costs in the Service Sector
M62
 
M4 Producing Goods and Services: Continuous Processing
M78
 
Assigning Unit Costs
M79
 
Process Costing
M81
 
Syntez Fabrics: The Manufacturing Process and Cost Flows
M81
 
Equivalent Units
M82
 
Preparing a Departmental Production Report
M83
 
M5 Cost Allocation and Activity-Based Management
M99
 
The Reasons for Cost Allocation
M100
 
Adventure Trails: Product Mix and Manufacturing Process
M101
 
Volume-Based Allocation: The Traditional Method
M101
 
Background
M101
 
Volume-Based Allocation
M103
 
Strategic Implications
M104
 
The Problems with Volume-Based Allocation
M105
 
Economies of Scale
M105
 
Accurate Allocation Bases
M106
 
A Hierarchy of Overhead Activities
M106
 
Unit-Level Costs
M107
 
Batch-Level Costs
M107
 
Product-Level Costs
M108
 
Facility-Level Costs
M108
 
Activity-Based Costing
M109
 
Cost Allocation and Decision Making in the Service Sector
M114
 
M6 Computerized Manufacturing Systems
M136
 
Components of a Computerized Manufacturing System
M137
 
Data Processing in a Computerized System
M141
 
Accumulating Production Costs
M144
 
Database Systems and Product Costs
M146
 
An Illustration of an Accounting System
M148
 
Copying and Opening the Database
M149
 
Database Contents
M149
 
M7 Analyzing Cost Behavior
M160
 
Cost Behavior
M161
 
Black & Blue Manufacturing: The Product and Manufacturing Process
M161
 
Cost Behavior in Relation to Changes in Activity Levels
M161
 
Cost Behavior and Decisions: A Make-or-Buy Example
M164
 
Other Behavior Considerations: Management Policies and Time
M165
 
Contribution Margin and the Variable-Costing Income Statement
M166
 
Cost-Volume-Profit Analysis
M167
 
Breakeven-Point Analysis
M169
 
Target-Profit Analysis
M170
 
Profit-Sensitivity Analysis
M170
 
Cost Behavior and Operating Risk
M171
 
Variable and Absorption Costing: A Comparison
M172
 
Pricing Decisions: Unit Product Cost
M172
 
Performance Evaluation: Net Income
M173
 
Arguments For and Against Variable Costing
M175
 
Measuring Costs for Decision Making in Service Companies
M175
 
SECTION M2 Cost Evaluation and Performance
M203
 
M8 The Budgeting Process-Planning Business Activities
M204
 
Sierra Canoe: Budgeting and the Manufacturing Process
M205
 
Transaction and Budget Systems Compared
M206
 
The Master Budget
M208
 
Sales Budget
M210
 
Production Budget
M211
 
Materials Purchases Budget
M211
 
Labor Budget
M214
 
Overhead Budget
M214
 
Selling and Administrative Budget
M215
 
Cash Budget
M216
 
Schedule of Cash Collections
M217
 
Schedule of Cash Payments
M218
 
Developing a Sound Budgeting Culture
M219
 
Budget Revisions
M220
 
Behavioral Concerns in Budgeting
M220
 
Participation in the Budget Process
M220
 
Slack in Budgets
M221
 
Budgets and Undesirable Behavior
M221
 
Budgeting in Service Companies
M222
 
M9 Cost Variances and Quality Management
M240
 
MetalArt: Performance Evaluation and the Manufacturing Process
M241
 
Coil Shearing
M241
 
Coating
M243
 
Printing
M243
 
Wrapping and Shipping
M244
 
MetalArt: Cost and Quality Management
M244
 
MetalArt-March 2005
M244
 
MetalArt-2007
M245
 
Variance Analysis for Direct Materials and Direct Labor
M245
 
MetalArt-April 2005
M245
 
Direct Materials and Direct Labor Variances
M246
 
Calculation and Interpretation of Materials and Labor Variances
M248
 
Limitations of Traditional Variance Analysis
M251
 
Quality Cost Concepts
M252
 
Taguchi's Quality Loss Function
M254
 
MetalArt-December 2006
M255
 
Statistical Process Control
M259
 
Performance Evaluation for Service Organizations
M262
 
M10 Managing Multi-Divisional Organizations
M288
 
American Paper Company: The Manufacturing Process
M288
 
Theoretical Framework for Behavior Within Organizations
M291
 
Management of Decentralized Organizations
M291
 
Benefits of Decentralization
M293
 
Performance Evaluation Using ROI
M294
 
Discussion of Results
M296
 
Criticisms of Using ROI to Evaluate Performance
M298
 
Economic Value Added Compared to ROI
M299
 
The Balanced Scorecard Approach
M301
 
Transfer Pricing
M303
 
The Scenario
M304
 
Transfer Pricing Summary
M309
 
Management of Decentralized Service Organizations
M309
 
M11 Improving Operational Performance
M330
 
The New Competitive Environment
M331
 
Tuff Cut: The Competitive Environment and Manufacturing Process
M332
 
Tuff Cut: Total Quality Management
M334
 
Principles of Just-in-Time Manufacturing
M337
 
Nonfinancial Performance Measures
M339
 
Product-Oriented versus Process-Oriented Plant Layout
M342
 
Financial Benefits Resulting from JIT
M344
 
Drawbacks to the Just in-Time Manufacturing Philosophy
M346
 
The Theory of Constraints
M347
 
Steps to Improve Performance
M347
 
Implementation of the Theory of Constraints
M348
 
Just-in-Time and Theory of Constraints Similarities and Differences
M351
 
Service Organizations in a Global Business Environment
M352
 
M12 Capital Investment Decisions
M372
 
Factors Affecting Capital Investment Decisions
M373
 
Risk
M374
 
Competing for Capital Investment Funds
M375
 
Traditional Approaches to Capital Investment Decisions
M376
 
Net Present Value
M376
 
Internal Rate of Return
M379
 
Using Excel to Calculate NPV and IRR
M381
 
Payback Period
M381
 
Accounting Rate of Return
M383
 
Other Considerations
M383
 
The New Manufacturing Environment
M385
 
Automation and Modern Manufacturing
M386
 
Making Strategic Capital Investment Decisions
M388
 
Problems in Making Decisions
M388
 
Avoiding Problems
M389
 
Moving Baseline Concept
M389
 
Uncertain and Hidden Costs
M390
 
Responding to Bad Capital Investment Decisions
M391
 
Capital Investment Decisions in Service Companies
M393
 
M13 A Closer Look at Service Organizations
M412
 
Stonebrook Medical Center: Background and Environment
M413
 
Modern Cost Management Systems for Service Organizations
M415
 
Step-Down and Simultaneous Algebraic Equation Methods for Allocating Reciprocal Support Costs
M416
 
Cost Management Systems for Service Companies
M421
 
Performance Measurement and Cost Management Strategies in the Service Environment
M424
 
Outcomes Data Dissemination
M425
 
Critical Path Utilization
M428
 
Appendix A Coca-Cola Annual Report: Letter to Shareholders
A1
 
Appendix B General Mills, Inc. 2002 Annual Report
B1
 
Appendix C Sources of Information About Companies and Industries
C1
 
Glossary
G1
 
Index
I1