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This successful book continues to provide accountants with an understanding of the fundamental concepts necessary to use accounting effectively. The sixth edition offers new discussions on IFRS, including new codification numbers, examples of IFRS financial statements, and additional exercises. A look at more recent frauds such as the Bernie Madoff scandal have been added. Enhanced discussions of ethics and international accounting are presented. The coverage of non-cash items and their impact on decision making has been expanded. In addition, comprehensive case studies and problems help accountants tie the material together.
Table of Contents
Ch. 1 Introduction to financial statements 2
Ch. 2 A further look at financial statements 46
Ch. 3 The accounting information system 98
Ch. 4 Accrual accounting concepts 156
Ch. 5 Merchandising operations and the multiple-step income statement 216
Ch. 6 Reporting and analyzing inventory 266
Ch. 7 Internal control and cash 314
Ch. 8 Reporting and analyzing receivables 370
Ch. 9 Reporting and analyzing long-lived assets 418
Ch. 10 Reporting and analyzing liabilities 472
Ch. 11 Reporting and analyzing stockholder's equity 532
Ch. 12 Statement of cash flows 564
Ch. 13 Financial analysis : the big picture 644
App. A Specimen financial statements : tootsie roll industries, Inc
App. B Specimen financial statements : hershey foods corporation
App. C Time value of money
App. D Reporting and analyzing investments
This successful book continues to provide accountants with an understanding of the fundamental concepts necessary to use accounting effectively. The sixth edition offers new discussions on IFRS, including new codification numbers, examples of IFRS financial statements, and additional exercises. A look at more recent frauds such as the Bernie Madoff scandal have been added. Enhanced discussions of ethics and international accounting are presented. The coverage of non-cash items and their impact on decision making has been expanded. In addition, comprehensive case studies and problems help accountants tie the material together.
Table of Contents
Ch. 1 Introduction to financial statements 2
Ch. 2 A further look at financial statements 46
Ch. 3 The accounting information system 98
Ch. 4 Accrual accounting concepts 156
Ch. 5 Merchandising operations and the multiple-step income statement 216
Ch. 6 Reporting and analyzing inventory 266
Ch. 7 Internal control and cash 314
Ch. 8 Reporting and analyzing receivables 370
Ch. 9 Reporting and analyzing long-lived assets 418
Ch. 10 Reporting and analyzing liabilities 472
Ch. 11 Reporting and analyzing stockholder's equity 532
Ch. 12 Statement of cash flows 564
Ch. 13 Financial analysis : the big picture 644
App. A Specimen financial statements : tootsie roll industries, Inc
App. B Specimen financial statements : hershey foods corporation
App. C Time value of money
App. D Reporting and analyzing investments
This successful book continues to provide accountants with an understanding of the fundamental concepts necessary to use accounting effectively. The sixth edition offers new discussions on IFRS, including new codification numbers, examples of IFRS financial statements, and additional exercises. A look at more recent frauds such as the Bernie Madoff scandal have been added. Enhanced discussions of ethics and international accounting are presented. The coverage of non-cash items and their impact on decision making has been expanded. In addition, comprehensive case studies and problems help accountants tie the material together.
Table of Contents
Ch. 1 Introduction to financial statements 2
Ch. 2 A further look at financial statements 46
Ch. 3 The accounting information system 98
Ch. 4 Accrual accounting concepts 156
Ch. 5 Merchandising operations and the multiple-step income statement 216
Ch. 6 Reporting and analyzing inventory 266
Ch. 7 Internal control and cash 314
Ch. 8 Reporting and analyzing receivables 370
Ch. 9 Reporting and analyzing long-lived assets 418
Ch. 10 Reporting and analyzing liabilities 472
Ch. 11 Reporting and analyzing stockholder's equity 532
Ch. 12 Statement of cash flows 564
Ch. 13 Financial analysis : the big picture 644
App. A Specimen financial statements : tootsie roll industries, Inc
App. B Specimen financial statements : hershey foods corporation
App. C Time value of money
App. D Reporting and analyzing investments