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书籍目录

Contents

Partl

Fundamentals' of Financial

Accounting Systems

A Brief Look at Accounting-Its Past, Present,

and Future

Early Accounting

Double-Entry System

Corporate Organization

Public Accounting

Income Tax

Govemment Influence

Accounting's Future

Do You Use Accounting

1 Introduction to Accounting Concepts and

Practice 6

Accounting as an Information System

Profession of Accounting

Private Accounting

Public Accounting

Professional Ethics tor Accountants

Specialized Accounting Fields

Generally Accepted Accounting Principles

Business Entity Concept

The Cost Principle

Business Transactions

Assets, Liabilities, and Owner's Equity

Transactions and the Accountlng Equation

Financial Statements

Income Statement

Retained Earnings Statement

Balance Sheet

Statement of Cash Flows

2 Analyzing Transactions

Usefulness of an Account

Characteristics of an Account

Analyzlng and Summarizing Transactions in Accounts

Balance Sheet Accounts

Income Statement Accounts

Dividends

Normal Balances of Accounts

lllustration of Analyzing and Summarizing Transactions

Trial Balance

Discovery and Correction of Errors

Discovery of Errors

Correction of Errors

3 The Matching Concept and the Adjusting

Process

The Matching Concept

Nature of the Adjusting Process

Recording Adjusting Entries

Deferred Expenses (Prepaid Expenses)

Deferred Revenue (Unearned Revenue)

Accrued Expenses (Accrued Liabilities)

Accrued Revenues (Accrued Assets)

Plant Assets

Work Sheet

Trial Balance Columns

Adjustments Columns

Adjusted Trial Balance Columns

Completing the Work Sheet

4 Completing the Accounting Cycle

Work Sheet

Income Statement and Balance Sheet Columns

Completing the Work Shept

Financial Statements

Income Statement

Retained Earnings Statement

Balance Sheet

Joumalizing and Posting Adjusting Entries

Nature of the Closing Process

Journalizing and Posting Closing Entries

Post-Closing Trial Balance

Fiscal Year

Accounting Cycle

Appendix: Reversing Entries

5 Accounting for Merchandising Businesses

Nature of Merchandising Businesses

Accounting for Purchases

Purchases Discounts

Purchases Returns and Allowances

Accounting for Sales

Sales Discounts

Sales Returns and Allowances

Sales Taxes

Trade Discounts

Transportation Costs

lllustration of Accounting for Merchandise Transactior

Chart of Account for a Merchandising Business

Income Statement for a Merchandising Business

Multiple-Step Form

Single-Step Form

The Accounting Cycle for a Merchandising Business

Merchandise Inventory Shrinkage

Work Sheet

Retained Earnings Statement

Balance Sheet

Closing Entries

Appendix: Work Sheet and Adiusting and Closing Entries for a

Merchandising Business

Part2

Financial Accounting Systems--

Assets

6 Accounting Systems, Internal Controls, and

Cash

Principles of Accounting Systems

Cost-Benefit Balance

Effective Reports

Ability to Adapt to Future Needs

Adequate Internal Controls

Accounting Systems Installation and Revision

Systems Analysis

Systems Design

Systems Implementation

Internal Control

Objectives of Internal Control

Elements of Intemal Control

Nature of Cash and Importance of Controls Over Cash

Internal Control of Cash Receipts

Cash Change Funds

Cash Short and Over

Internal Control of Cash Payments

Basic Features of the Voucher System

Purchases Discounts Lost

Petty Cash

Other Cash Funds

Bank Accounts: Their Nature and Use as a Control Over Cash

Business Bank Accounts

Bank Statement

Bank Accounts as a Control Over Cash

Bank Reconciliation

Presentation of Cash on the Balance Sheet

Electronic Funds Transfer

7 Receivables and Temporary Investments

Classification of Receivables

Accounts Receivable

Notcs Receivable

Other Receivables

Internal Control of Receivables

Uncollectible Receivables

Allowance Method of Accounting for Uncollectibles

Write-Offs to the Allowance Account

Estimating Uncollectibles

Direct Write-Off Method of Accouniing for Uncollectihies

Characteristics of Notes Receivable

Due Date

Interest

Maturity Valu

Accounting for Notes Receivable

Discounting Notes Receivable

Dishonored Notes Receivable

Temporary Investments

Temporary Investments and Receivables in the Balance Sheet

8 Inventories

Internal Control of Inventories

Determining Actual Quantities in the Inventory

Procedures for Taking a Physical Inventory

Eft'ect ot' Inventory Errors on Financial Statements

Inventory Costing Methods Under a Perpetual tnventory System

First-in, First-out Method

Last-in, First-out Method

Average Cost Method

Computerized Perpetual Inventory Systems

Inventory Costing Methods Under a Periodic Inventory System

First-in, First-out Method

Last-in, First-out Method

Average Cost Mcthod

Comparing Inventory Cosiing Methods

Use of the First-in, First-out Method

Use ot the Last-in, First-out Method

LJse ot thc Average Cost Method

Selection of an Inventory Costing Method

Valuation of Inventory at Other Than Cost

Valuation at Lower of Cost or Market

Valuation at Net Realiz.able Value

Presentation of Merchandise Inventory on the Balance Sheet

Estimating Inventory Cost

Retail Method of Inventory Costing

Gross Profit Method of Estimating Inventories

9 Plant Assets and intangible Assets

Nature of Plant Assets

Costs of Acquiring Plant Asset

Nature of Depreciation

Accounting for Depreciation

Straight-Line Method

Units-of-Production Method

Declining-Balance Method

Comparing Depreciation Methods

Depreciation for Federal Income Tax

Revision of Periodic Depreciation

Recording Depreciation

Subsidiary Ledgers for Plant Assets

Depreciation of Plant Assets of Low Unit Cost

Composite-Rate Method

Capital and Revenue Expenditures

Capital Expenditures

Revenue Expenditures

Summary of Capital and Revenue Expenditures

Disposal of Plant Assets

Discarding Plant Assets

Sale of Plant Assets

Exchanges of Similar Plant Assets

Leasing Plant Assets

Internal Control of Plant Assets

Depletion

Intangible Assets

Patents

Copyrights

Goodwill

Financial Reporting for Plant Assets and Intangible Assets

Appendix: Sum-of-the-Years-Digits Depreciation

Part3

Financial Accounting Systems-

Liabilities and Equity

10 Payroll, Notes Payabte, and Other Current

Liabilities

Payroll and Payroll Taxes

Liability for Employee Earnings

Deductions from Employee Earnings

Income Taxes

Computing Employee Net Pay

Liability for Employer's Payroll Taxes

Accounting Systems for Payroll and Payroll Taxes

Payroll Register

Employee's Earnings Record

Payroll Checks

Pavroll Svstem Diagram

Internal Controls for Payroll Sy

Employees' Fringe Benefits

Vacation Pay

Pensions

Postretirement Benefits Other Than Pension

Short-Term Notes Payable

Product Warranty Liability

ll Bonds Payable and Investments in Bonds

Characteristics of Bonds Payable

The Present-Value Concept and Bonds Payable

Present Value of the Face Amount of Bonds

Present Value of the Periodic Bond Interest Payments

Accounting for Bonds Payable

Bonds Issued at Face Amount

Bonds Issued at a Discount

Amortization of a Bond Discount

Bonds Issued at a Premium

Amortization of a Bond Premium

Zero-Coupon Bonds

Bond Sinking Funds

Bond Redemption

Investments in Bonds

Accounting for Bond Investment.'--Purchase, Interest, and

Amortization

Accounting for Bond Investments--Sale

Balance Sheet Presentation of Bonds Payable and Bond

Investments

Appendix-Effective Interest Rate Method of Amortization

Amortization of Discount by the Interest Method

Amortization of Premium by the Interest Method

12 Corporations: Organlzation and Equity

Rights

Nature of a Corporation

Characteristics of Corporations

Forming a Corporation

Sources of Paid-in Capital

Stock

Other Sources of Paid-it Capital

Issuing Stock

Premium on Stock

No-Par Stock

Treasury Stock Transactions

Reporting Paid-ln Capital

Stock Splits

Accounting for Dividends

Cash Dividends

Stock Dividends

Liquidating Dividends

Appropriations of Retained Earnings

Reporting Retained Earnings

Reporting Retained Earnings in the Balance Sheet

Retained Earnings Statement

Combined Income and Retained Earnings Statement

Statement of Stockholders' Equity

13 Corporate Earnings, International

Transactions, and Investments in Stocks

Corporate Income Taxes

Payment of Income Taxes

Allocation of Income Taxes

Unusual Kems that Affect the Income Statement

Discontinued Operations

Extraordinary Items

Changes in Accounting Principles

Earnings Per Common Share

Foreign Currency Exchange Gains and Losses

Realized Currency Exchange Gains and Losses

Unrealized Currency Exchange Gains and Losses

Prior-Period Adjustments

Analyzing investments in Stocks

Price-Earnings Ratio

Equity Per Share

Accounting for Long-Term investments in Stocks

Cost Method

Equity Method

Sale of Long-Term Investments in Stock

Business Combinations

Mergers and Consolidations

Parent and Subsidiary Corporations

Consolidated Financial Statements

Practice Set: Electronic Play Inc.

This set is available with transactions in narrative form. It

provides practice in accounting (including corporate debt)

for a merchandising corporation that uses a general journal

It may also be solved using the Solutions Software.

Practice Set: SEMO Sporting Goods Supply Inc.

This set requires locating errors in recording and posting

transactions, preparing correcting entries, and preparing fi-

nancial statements for a wholesaling corporation.

Part4

Using Accounting Information

Statement of Cash Flows

Purpose of the Statement of Cash Flows

Reporting Cash Flows

Cash Flows From Operating Activities

Cash Flows From Investing Activities

Cash Flows From Financing Activities

lllustrations of the Statement of Cash Flows

Noncash Investing and Financing Activities

Cash Flow Per Share

Statement of Cash Flows-The Indirect Method

Retained Earnings

Common Stock

Preferred Stock

Bonds Payable

Equipment

Building

Land

Long-Term Investments

Preparing the Statement ofCash Flows

Statement of Cash Flows-The Direct Method

Cash Received From Customers

Cash Payments for Merchandise

Cash Payments for Operating Expenses

Gain on Sale of Investments

Interest Expense

Cash Payments for Income Taxes

Reporting Cash Flows From Operating Activities--Direct

Method .

Appendix: Work Sheet for Statement of Cash Flows

Work Sheet-Indirect Method

Work Sheet--Direct Method

Practice Set: lce Inc.

This is an interactive, computer-based set that gives immedi-

ate feedback as it is being solved. It provides practice in ac-

counting for a merchandising corporation that uses a perpet-

ual inventory system and a general joumal.

Annual Reports and Financial Statement

Analysis

Corporate Annual Reports

Hershey Foods Corporation Annual Report

Financial Statement Analysis

Basic Analytical Procedures

Financial Statement Analyses of Solvency and

Profitability

Solvency Analysis

Profitability Analysis

Summary of Analytical Measures

Part5

Managerial Accounting Principles

and Systems

A Brief Look at Managerial Accounting-Its

Past, Present, and Future

The Period of Independent Contracting

The Rise of the Single Activity Organization-Intemal

Contracting

Multidivisional Firms and Product Costing

Emergence of the Public Corporation and Financial

Reporting

The Lean Enterprise

Historical Summary

14 Managerial Accounting Concepts and

Principles

The Differences Between Managerial and Financial

Accounting

The Role of the Management Accountant

Where Does the Management Accountant Fit in an

Organization?

Ethical Role of Management Accountants

Managerial Accounting in the Management Process

Planning

Directing

Controlling

Improving

Decision Making

A Tour of Manufacturing Operations: Costs and

Terminology

Direct and Indirect Costs

Manufacturing Costs

Product Costs and Period Costs

Financial Statements for Manufacturing Businesses

Trends in Business

Just-in-Time Manufacturing

Total Quality Management

Computer-lntegrated Manufacturing

Globalization of Business

Service Industry Awareness

15 Job Order Cost Systems

Usefulness of Product Costs

Cost Accounting System Overview

Job Order Cost Systems for Manufacturing Businesses

Cost Flow Overview-Job Order Cost System

Materials

Factory Labor

Factory Overhead

Work in Process

Finished Goods and Cost of Goods Sold

Sales

Summary of Cost Flows for Goodwell Printers

Job Order Costing for Decision Making

Job Order Cost Systems for Service Businesses

Practice Set: Highpoint Solar Inc.

This set is available with transactions in narrative form. It

provides practice in accounting for a manufacturing corpora-

tion that uses a job order cost system. It may also be solved

using the Solutions Software.

16 Process Cost Systems

Comparing Job Order Costing and Process Costing

Physical Flows and Cost Flows for a Process Manufacturer

The First-ln, First-Out (FlFO) Method

Step l: Determint' the Units to Be Assigned Costs

Step 2: Calculate Equivalent Units of Production

Step 3: Determine the Cost Per Equivalent Unit

Step 4: Allocate Costs to Transferred and Partially

Completed Units

Bringing It All Together: The Cost of Production Report

Journal Entries for a Process Cost System

Using the Cost of Production Report for Decision

Making

Part6

Planning and Control

17 Cost Behavior and Cost-Volume-Profit

Analysis

Cost Behavior

Variable Costs

Fixed Costs

Mixed Costs

Summarv of Cost Behavior Concepts

Reporting Variable and Fixed Costs

Cost-Volume-Profit Relationships

Contribution Margin Concept

Mathematical Approach to Cost-Volume-Profit Analysis

Break-Even Puint

Targct profit

Graphic Approach to Cost-Volume-Profit Analysis

Cost-Volume-Profit (Break-Even) Chart

Profit-Volume Chart

Use of Computers in Cost-Volume-Profit Analysi

Sales Mix Considerations

Special Cost-Volume-Profft Relationships

Margin of Safety

Operating Leverage

Assumptions of Cost-Volume-Profit Analysis

18 Profit Reporting for Management

Analysis

Absorption Costing and Variable Costing

The Income Statement Under Variable Costing and Absorption

Costing

Income Reported When Units Manufactured Equal Unit

Sold

Income Reported When Llnits Manufactured Exceed Unit

Sold

Income Reported When Units Manutactured Are Less Than

Units Sold

Comparing Income Reported Under the Two Concept

Income Analysis Under Variable Costing and Absorption

Costing

Management's Use of Variable Costing and Absorption

Costing

Controlling Costs

Pricing Products

Planning Production

Analyzing Markets

Analyzing Contribution Margin

19 Budgeting

Nature and Objectives of Budgeting

Objectives of Budgeting

Human Behavior and Budgeting

Budgeting Systems

Static Budget

Flexible Budget

Computerized Budgeting System

Master Budget

income Statement Budgets

Sales Budget

Production Budget

Direct Materials Purchases Budget

Direct Labor Cost Budget

Factory Overhead Cost Budget

Cost of Goods Sold Budget

Operating Expenses Budget

Budgeted income Statement

Balance Sheet Budgets

Cash Budget

Capital Expenditures Budget

Budgeted Balance Sheet

20 Performance Evaluation Using Variances

from Standard Costs

Standards

Setting Standards

Types of Standards

Reviewing and Revising Standards

Support and Criticism of Standards

Flexible Budgeting and Control

Direct Materials Variances

Direct Materials Price Variance

Direct Materials Quantity Variance

Direct Materials Variance Relationships

Reporting Direct Materials Variances

Direct Labor Variances

Direct Labor Rate Variance

Direct Labor Time Variance

Direct Labor Variance Relationships

Reporting Direct Labor Variances

Factory Overhead Variances

The Factory Overhead Flexible Budget

Variable Factory Overhead Controllable Variance

Fixed Factory Overhead Volume Variance

Reporting Factory Overhead Variances

Recording and Reporting Variances from Standards

Standards for Nonmanufacturing Expenses

Nonfinancial Performance Measures

21 Performance Evaluation for Decentralized

Operations

Centralized and Decentralized Operations

Advantages of Decentralization

Disadvantages of Decentralization

Responsibility Accounting

Responsibility Accounting for Cost Centers

Responsibility Accounting for Profit Centers

Operating Income

Service Department Charges

Controllable Operating Income

Responsibility Accounting for Investment Centers

Rate of Return on Investment

Residual Income

Nonfinancial Divisional Performance Measurement

Transfer Pricing

Market Price Approach

Negotiated Price Approach

Cost Price Approach

Part7

Decision Making

22 Differential Analysis and Product

Pricing

Differential Analysis

Lease or Sell

Discontinue a Segment or Product

Make or Buy

Replace Equipment

Process or Sell

Accept Business at a Special Price

Setting Normal Product Selling Prices

Total Cost Concept

Product Cost Concept

Variable Cost Concept

Choosing a Cost-Plus Approach Cost Concept

Activity-Based Costing

Product Profitability and Pricing Under Production

Bottlenecks

Product Profitability Under Production Bottlenecks

Product Pricing Under Production Bottlenecks

23 Capital Investment Analysis

Nature of Capital Investment Analysis

Methods of Evaluating Capital Investment Proposals

Methods That Ignore Present Value

Present Value Methods

Qualitative Considerations in Capital Investment Analysis

Factors That Complicate Capital Investment Analysis

Income Tax

Unequal Proposal Lives

Lease Versus Capital Investment

Uncertainty

Changes in Price Level

Capital Rationing

Part8

Cost Management for Advanced

Manufacturing Environments

24 Cost Allocation and Activity-Based

Costing

Product Costing Allocation Methods

Single Planlwide Factory Overhead Rate Melhod

Multiple Production Department Factory Overhead Rate Method

Production Department Factory Overhead Rates and

Allocation

Distortion in Product Costs-Single Plantwide vs. Multipl

Production Department Factory Overhead Rates

Activity-Based Costing Method

Activity Rates and Allocation

Distortion in Product Costs-Multiple Production

Department Factory Overhead Rate Method vs Activity-

Based Costing

The Dangers of Product Cost Distortion

Activity-Based Costing for Selling and Administrative

Expenses

Activity-Based Costing in Service Businesses

25 Cost Management for Just-in-Time

Manufacturers

Just-in-Time Principles

Reducing Inventory

Reducing Lead Times

Emphasizing Product-Oriented Layout

Emphasizing Employee Involvement

Reducing Setup Time

Emphasizing Pull Manufacturing

Emphasizing Zero Defects

Emphasizing Supplier Partnering

Applying a Just-in-Time Approach to Anderson Metal

Fabricators

Traditional Operations-AMF

Just-in-Time Operations-AMF

Accounting for Just-in-Time Operations

Fewer Transactions

Combined Accounts

Nonfinancial Performance Measures

Direct Tracing of Overhead 1000

Accountlng for the Costs of Quality

Costs of Controlling Quality

Costs of Failing to Control Quality

The Relationship Between the Costs of Quality

Determining the Costs of Quality

Pareto Chart

Cost of Quality Report

Value-Added/Nonvalue-Added Activity Analysis 1037

Appendix A: interest Tables A-1

Appendix B: Codes of Ethics B-1

Appendix C: Altemative Methods of Recording

Deferrals

Appendix D: Special Joumals and Subsidiary

Ledgers

Appendix E: Periodic inventory Systems

Glossary

Index

Check Figures

Classification of Accounts

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